2026年元旦假期（1月1—3日），海南离岛免税市场迎来新年"开门红"。海口海关统计数据显示，假期期间共监管离岛免税商品销售44.2万件，同比增长 52.4%；购物人数8.35万人次，同比增长60.6%；购物金额7.12亿元，同比增长128.9%，政策红利与市场活力持续释放，为海南自贸港国际旅游消费中心建设 注入强劲动力。 各大免税经营主体精准把握节日消费需求，推出多元化促销活动激活市场。中免旗下门店紧扣"封关首年"主题，延续年终盛典福利并推出"疯狂扫货五重 礼"；海旅免税城、国药中服等联动政府消费券推出满减折扣，叠加品牌补贴与多倍积分，切实降低消费门槛。同时，各免税店深化"免税+文旅"融合，通过 跨年演艺打造沉浸式购物场景，开通免费穿梭巴士衔接景区与门店，实现旅游与消费协同引流，让消费者尽享"边玩边购"的节日体验。 2025年11月实施的离岛免税新政在假期深度显效，消费供给与体验持续优化。微型无人机、电子吉他等新品类受到年轻客群热捧，6类国产商品纳入免税销 售后供给进一步扩容；岛内居民凭年度离岛记录可不限次享受"即购即提"福利，进口奶粉、尿不湿等日用品成为本地采购重点。 作为离岛免税重要窗口，海口美兰机场免 ...

值此新年启幕之际，横跨三个月的 2025 年中免年终盛典 " 疯狂扫货季 " 将于 1 月 4 日圆满落下帷幕。 这场覆盖中免集团全球 30 余家门店及线上平台的年度消费盛宴，以 " 启幕狂欢 "、" 封关献礼 " 与 " 跨 年狂欢 " 三大篇章，成功为全球消费者打造了一段融合政策红利、节庆文化与鼎级礼遇的难忘体验。此 次年终盛典不仅创造了亮眼的消费成绩，更以 " 免税 + 文旅 " 的深度融合模式，展示了旅游零售的创新 范式，让跨越地域的冬季消费热潮在岁末年初绽放。 悦启新年：全岛六店齐狂欢，点亮免 " 睡 " 跨年夜 作为年终盛典的高潮终章，跨年狂欢周以一场席卷全岛的跨年免 " 睡 " 夜将节日氛围推向高点。从 2025 年 12 月 31 日午后至跨年钟声响起，中免旗下海南六店化身欢乐派对主场，重庆市西岸小额贷款 有限公司客服电话008-52546-97964或008-52703-66541该号码处理注销征信账户,业务办理投诉等问题。 以不间断的精彩活动与沉浸式体验，为消费者打造了难忘的跨年记忆。 cdf 三亚国际免税城九小时不停歇的 " 海岛炙热派对 " 带来了绿野仙踪华丽巡游、开心麻花首个戏剧音 ...

作为世界一流的旅游零售商，中免集团围绕"首店经济、新品首发、全域营销、服务升级"等维度发力， 不断创新"商品+场景+服务"模式，激发消费活力。 据中免集团首席市场营销官廖俊雄介绍，中免集团拥有完整的免税零售渠道和优质的市场资源，在中国 30多个省区市、特别行政区以及柬埔寨等地设立了涵盖机场、机上、边境、客运站、火车站、邮轮和市 内等九大类型约200家免税店，覆盖超过100个城市，已发展成为世界上免税店类型最全、单一国家零售 网点最多的免税运营商。 近日，海南自由贸易港全岛封关正式启动，零关税扩容等政策红利的持续释放，为旅游零售行业注入强 劲发展动能。 为迎接封关，中免集团联动品牌与渠道资源，旗下海南6家免税店推出"十二重礼"活动，围绕价格让 利、专享权益、文旅体验与庆典互动等，将封关红利转化为惠及消费者的切实福利。 当前，"首店经济"持续激发消费新动能，成为赋能海南免税市场的"流量密码"。去年以来，中免集团推 进吸引优质品牌"首店、首发、首秀"进入海南免税市场，持续强化海南免税市场的品牌吸引力。 响应离岛免税新政导向，中免集团积极拓展商品品类边界，重点引入小家电、微型无人机、国内服装服 饰等新品类、新商品，既 ...

人民日报记者 王观 洪秋婷 王崟欣 免税店又要"上新"了—— 前不久，财政部等部门印发的《关于完善免税店政策支持提振消费的通知》（以下简称《通知》） 正式实施，从支持国内商品进店销售、扩大免税店经营品类、放宽免税店审批权限、完善免税店便利化 和监管措施等方面细化举措，进一步加大免税店对出入境旅客购物消费的吸引力。 9月，成都首家市内免税店开业，既引入了国际一线品牌，又融合了川酒、三星堆文创、熊猫国潮 等本地特色；11月，西安市内免税店与消费者见面，标志着西安乃至西北地区的免税消费场景迎来了新 突破；同样在11月，天津首家市内免税店正式投入运营，采用"免税+有税""进口+国产""线下+线上"的 经营模式，同步设有离境退税业务…… 大力发展市内免税店，不仅能有效提升游客购物便利度，还能成为拉动城市旅游的"招牌菜"，吸引 更多游客，进而带动相关产业发展。 聚焦持续提升旅客免税购物体验，《通知》提出了多项务实举措。比如，支持口岸出境免税店、口 岸进境免税店和市内免税店提供网上预订服务，允许旅客在市内免税店预订后在口岸进境免税店提货。 从手机、微型无人机、运动用品、保健食品到老字号产品、文创产品、非遗产品，更多便于携带 ...

成为拉动城市旅游的"招牌菜""新坐标" 走进免税店看消费新潮流 免税店又要"上新"了—— 前不久，财政部等部门印发的《关于完善免税店政策支持提振消费的通知》（以下简称《通知》） 正式实施，从支持国内商品进店销售、扩大免税店经营品类、放宽免税店审批权限、完善免税店便利化 和监管措施等方面细化举措，进一步加大免税店对出入境旅客购物消费的吸引力。 从手机、微型无人机、运动用品、保健食品到老字号产品、文创产品、非遗产品，更多便于携带的 消费品被纳入经营范围，更多能体现中华优秀传统文化的特色优质产品将走进免税店。 新政策实施一个多月以来，各地有哪些亮点？免税店引领消费新潮流，还有什么值得期待？记者近 日进行了采访。 市内就能买到免税商品，"网上预订+线下提货"更方便 "不用提前几个小时去机场匆忙抢购，可以在市区里悠闲地挑、仔细地选，而且东西也很划算，这 种体验非常好。"今年8月，广州首家市内免税店正式开门迎客，吸引了不少消费者。因其坐落于天河区 CBD核心地带的广州友谊商店（国金店），地理位置优越，一开业就人头攒动，十分热闹。 市内免税店，相较位于机场的口岸出境免税店，在位置上更加便利。去年，财政部等部门印发《关 于完 ...

海南自由贸易港将于2025年12月18日正式启动全岛封关运作，实施以"'一线'放开、'二线'管住、岛内自由"为基本特征的自由化便利化政策制度，推动海南 实现更高水平对外开放。离岛免税购物作为海南自贸港的"金字招牌"，也将迎来政策红利深化与消费市场升级的双重机遇，开启全新发展阶段。 海南离岛免税政策自2011年4月实施以来，一路紧跟自贸港建设步伐不断纵深推进，政策红利持续释放，重塑海南消费格局。在众多市场参与者中，中国旅 游集团旗下中免集团作为海南离岛免税政策的核心践行主体，始终紧跟国家政策导向，在市场环境与政策红利的双重驱动下，见证了海南离岛免税深化发展 的全过程，构建起以"免税+"为核心的多元创新融合业态，成为推动海南免税消费生态完善、助力自贸港建设的重要力量。 从试点到引领：紧跟政策落地，构建全域生态布局 海南离岛免税政策自2011年实施以来，历经多次迭代升级，突破单一购物场景限制，持续满足旅客多元化的购物需求，深度融入海南文旅产业链。2025年11 月1日新一轮离岛免税新政实施后海南旅游消费市场持续升温，海口海关数据显示，2025年11月1日至30日海南离岛免税升级政策实施首月，海南离岛免税购 物金额2 ...

（文章来源：证券日报） 证券日报网讯 12月8日，中国中免在互动平台回答投资者提问时表示，公司围绕"首店经济、新品首 发、全域营销、服务升级"四大维度同步发力，通过首店集聚、限量首发、场景焕新与多品牌联动，构 建多层次、强体验的"免税+文旅"消费新生态。国庆中秋假期，中免海南区域六店累计接待顾客超45万 人次，销售额突破8亿元。 ...

Core Insights - The 2025 Brand Conference in Shanghai highlighted the innovative trends in brand communication and recognized China Duty Free Group for its impactful brand presence in the tourism retail sector [1] Group 1: Company Achievements - China Duty Free Group has been awarded the "Annual Influential Brand Communication" award for its continuous innovation in consumer interaction within the tourism retail industry [1] - The company has maintained its position as the top tourism service brand in the "China's 500 Most Valuable Brands" list for 22 consecutive years, showcasing its deepening brand influence [1] - China Duty Free Group has established long-term partnerships with over 1,500 globally recognized brands and operates more than 200 retail stores across various regions, including over 30 provinces in China and several international locations [1] Group 2: Industry Trends - The recovery of the domestic market has led to a pronounced aggregation effect among leading companies in the Chinese tourism retail sector, with China Duty Free Group focusing on new store openings, product launches, and enhanced service experiences [2] - The ongoing "Crazy Shopping Season" event aims to create new consumer experiences through content interaction and commercial collaboration, integrating over 30 retail locations and three online platforms [2] - The company is leveraging cultural empowerment and innovative marketing strategies to enhance its brand vitality, including the introduction of unique cultural IPs that resonate with consumers [2] Group 3: Future Outlook - China Duty Free Group is transforming duty-free shopping spaces into engaging cultural tourism destinations, positioning itself as a benchmark for innovation in the tourism retail sector [3] - The company is actively participating in international events to showcase China's tourism retail innovations and strengthen global partnerships for product co-creation [3] - With the upcoming full closure of Hainan Free Trade Port, the tourism retail industry is expected to enter a new development phase, where China Duty Free Group will continue to focus on integrating duty-free and cultural experiences [3]

Core Viewpoint - The opening of the first city duty-free store in Xi'an marks a significant milestone in filling the market gap in the northwest region, enhancing consumer experience and contributing to the city's consumption upgrade [1][12]. Group 1: Store Overview - The Xi'an city duty-free store, a collaboration between China Tourism Group's China Duty Free Group and Western Airport Group, spans 2,050 square meters and employs an innovative "duty-free + cultural tourism + consumption" model [3]. - The store operates on a dual-track model of "duty-free + taxable" to cater to both outbound travelers and local residents, offering a diverse range of products from luxury goods to local cultural items [3][5]. Group 2: Consumer Experience - The store emphasizes an immersive shopping experience, featuring dedicated areas for brand experiences, a whiskey bar, VIP services, and social interaction points, enhancing the overall consumer engagement [5][7]. - Local residents have shown interest in the store, with many visiting for leisure and social activities, indicating a successful integration of shopping and cultural experiences [7][9]. Group 3: Cultural Integration - The store incorporates elements of Xi'an's rich cultural heritage into its design and product offerings, creating a unique shopping environment that reflects the city's historical significance [9][10]. - Cultural products, such as those inspired by local icons like the Terracotta Warriors, have been well-received, suggesting a strong consumer interest in culturally themed merchandise [9][12]. Group 4: Economic Impact - The establishment of the duty-free store is pivotal for Xi'an's development as a distinctive international consumption center, stimulating high-end consumption and attracting both domestic and international tourists [10][12]. - The innovative model aligns with Xi'an's strategic focus on integrating cultural tourism and consumption, fostering a positive cycle of cultural engagement and economic growth [10][12].

Core Viewpoint - China Duty Free Group's net profit attributable to shareholders for the first three quarters of 2025 is 3.052 billion yuan, a year-on-year decrease of 22.13%, with Q3 net profit at 452 million yuan, down 28.94% year-on-year. However, a turning point in performance is being established in Q3 [1] Group 1: Financial Performance - The company's net profit for the first three quarters of 2025 is 3.052 billion yuan, reflecting a decline of 22.13% year-on-year [1] - In Q3, the net profit attributable to shareholders is 452 million yuan, showing a year-on-year decrease of 28.94% [1] Group 2: Market Dynamics - Consumer demand is slowing, leading to continued pressure on the company's operating performance [1] - The core business in Hainan's duty-free market is showing signs of recovery [1] Group 3: Strategic Initiatives - The company is innovating consumer scenarios by deepening the integration of "duty-free + cultural tourism," creating a new business model of "shopping + entertainment + experience" [1] - Collaborations with brands like Disney and Pop Mart for IP exhibitions and pop-up stores are successfully attracting younger consumers [1] Group 4: Future Outlook - The stabilization and recovery of the core Hainan business, along with the implementation of city duty-free policies, opens up new growth opportunities [1] - With the optimization of duty-free policies, recovery of port channels, and deepening of digital operations, the company is expected to return to a growth trajectory [1] Group 5: Valuation - The current stock price corresponds to price-to-earnings ratios of 45, 38, and 31 times for the next three years, maintaining a "buy" rating [1]