NGZHOL 9093 T I Megnetic Memo Holder larg r prog 1 15 58 E EZHO 58 - 文/图 羊城晚报全媒体记者 孙绮曼 市内免税店来了！8月26日，在天河区国际金融中心广州友谊国金店一楼，广州首家市内免税店正式开门迎客，现场人潮涌动，热闹非凡。同一天，深圳首 家市内免税店也在深业上城开业，同样吸引了众多消费者的目光。 何为市内免税店？ 在优惠方面，市内免税店的进口商品免征关税、进口环节增值税和消费税，国内商品进入市内免税店视同出口，退（免）增值税、消费税，市内免税店销售 的上述商品免征国内环节增值税、消费税。与传统离境退税8%至9%的优惠幅度相比，市内免税店的免税商品可提供11%至25%的价格优惠。 广深两店各具特色 有趣的是，记者发现，广州、深圳两家免税店都与其城市特质深度融合，成为城市的一张独特名片。 市内免税店，是指经国务院批准，按规定设立在市内，向即将出境的旅客销售免税商品的商店。旅客在市内免税店购买免税商品不设购物限额，但须符合海 关关于旅客携带行李物品进出境应当以自用、合理数量为限的规定。去年8月，财政部等五部门联合印发《关于完善市内免税店政策 ...

中信建投指出，25年第一季度整体免税销售额及海南免税销售额下滑，第二季度仍受一定影响。第 二季度海南渠道逐步转正。多地市内免税店进入落地培育阶段。关税政策下，免税渠道部分商品价格优 势扩大，预计市内免税店未来更好服务外国人离境场景下国货销售。年内海南封关将近，离岛免税政策 独立性预计仍维持，且有望受益封关后消费提振政策。 (责任编辑：宋政 HN002) 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 中国中免(01880)盘中飙升逾9%，截至发稿，股价上涨5.10%，现报65.90港元，成交额4.081亿港 元。 中免集团发布消息称，广州首家市内免税店将于8月26日开业。据悉，广州市内免税店由中免集 团、广百股份(002187)、岭南控股(000524)和白云机场(600004)联合打造。此前，8月23日，深圳市内免 税店在试营业期间顺利迎来首单成交。上午10时许，顾客白先生在免税酒水区完成购物结算，并将 ...

智通财经APP获悉，中国中免(01880)飙升逾9%，截至发稿，涨7.26%，报67.25港元，成交额3.27亿港 元。 消息面上，中免集团发布消息称，广州首家市内免税店将于8月26日开业。据悉，广州市内免税店由中 免集团、广百股份、岭南控股和白云机场联合打造。此前，8月23日，深圳市内免税店在试营业期间顺 利迎来首单成交。上午10时许，顾客白先生在免税酒水区完成购物结算，并将在下周一从深圳机场启程 前往迪拜，成为免税店试营业阶段的首单顾客。这也标志着项目建设和运营取得阶段性成果。 中信建投指出，25年第一季度整体免税销售额及海南免税销售额下滑，第二季度仍受一定影响。第二季 度海南渠道逐步转正。多地市内免税店进入落地培育阶段。关税政策下，免税渠道部分商品价格优势扩 大，预计市内免税店未来更好服务外国人离境场景下国货销售。年内海南封关将近，离岛免税政策独立 性预计仍维持，且有望受益封关后消费提振政策。 ...

讨论许久的市内免税店扩围，终于要落地了。 8月23日，深圳首家市内免税店在试营业期间迎来首单成交——一名顾客在免税酒水区完成购物结算，并将在下周一从深圳机场启程前往迪拜。就在不久 前，广深两市官宣，首家市内免税店均将于8月26日开门营业。 过去5年间，伴随我国免税市场的变化，市内免税店经历了数次转变。 2019年，中国免税品（集团）有限责任公司（以下简称"中免集团"）经营的先后恢复了旗下北京、大连、青岛、厦门和上海的市内免税店。此前，上海、 大连等地市内免税店都曾因经营不佳注销。 当时，这几家市内免税店主要服务于境外人士，但有分析指出，中免集团再次"押注"市内免税店，源于在我国引导境外消费回流的趋势下，借此挖掘免税 业务新增长点的期望。 与之相对的是，作为我国最早的"市内免税店"，由中国出国人员服务有限公司（以下简称"中出服"）自1980年开始陆续在全国12座城市开设的外汇商品免 税店，主要针对出境回国的中国人。他们回国后可在180天内购买免税品，且能在店内直接提货。 到去年，这些市内免税店一道步入新一轮转型。 根据《关于完善市内免税店政策的通知》，中免集团经营的6个市内免税店按照新办法运行，一个最大的变化， ...

2024年8月，财政部等五部门联合印发《关于完善市内免税店政策的通知》，明确将在深圳等8个城市各设立 1家市内免税店。深圳积极推进，从市内免税店招标选址到筹备落地，再到如今的冲刺开业，成为全国新增 市内免税店项目中最早落地执行的城市之一。 深圳首家市内免税店由中免集团、深圳免税集团、深业集团联合打造，面积近3000平方米，位于深业上城一 层黄金地段，区位优势与空间规模兼具。该店将以"免税+有税""进口+国产""线下+线上"经营思路升级市内免 税店模式，在引入众多国际知名品牌的基础上，结合深圳特色，大力推广具有深圳元素的国货潮品，打造深 圳链接世界、展示魅力的"城市新客厅"。 据深圳市内免税店总经理张海涛透露，店内将涵盖免税商品及有税商品，构建以美妆护肤、腕表首饰、高端 酒水为主，国潮精品、科技电子为特色的多元化商品矩阵，汇聚国际知名品牌、中华老字号非遗品牌及本土 化优质国民科技品牌，包括智能手机、全景相机等众多"深圳智造"产品，为消费者提供更优质、多元、便捷 的购物体验。 深圳首家市内免税店位于深业上城一层。（受访单位供图） 【深圳商报讯】（首席记者 刘琼）8月23日，深圳首家市内免税店在试营业期间迎来首单成 ...

深圳商报·读创客户端首席记者 刘琼 2025年8月23日，深圳首家市内免税店在试营业期间迎来首单成交。上午10时许，顾客白先生在免税酒 水区完成购物结算，并将在下周一从深圳机场启程前往迪拜。在工作人员的专业引导下，顺利完成免税 购物流程，成为免税店试营业阶段的首单顾客。据悉，深圳市内免税店将于月26日正式开业。 市内免税店，是一种设立在城市核心区域，面向即将在规定期限内离境的旅客（包括但不限于中国籍旅 客）销售免税商品的零售业态，相比传统的口岸免税店，具有购物时间更灵活、购物环境更舒适、商品 品类更丰富，且更能与城市商业、文化、旅游资源深度融合的优势。 据深圳市内免税店总经理张海涛透露，店内将涵盖免税商品及有税商品，构建以美妆护肤、腕表首饰、 高端酒水为主，国潮精品、科技电子为特色的多元化商品矩阵，汇聚国际知名品牌、中华老字号非遗品 牌及本土化优质国民科技品牌，包括智能手机、全景相机等众多"深圳智造"产品，为消费者提供更优 质、多元、便捷的购物体验。 据悉，深圳市内免税店将采取"市内选购，机场、邮轮母港离境提货"的创新模式，为离境消费者提供便 捷的购物体验。与传统离境退税约8%至9%的优惠幅度相比，市内免税店 ...

Core Insights - The first city duty-free store in Guangzhou is set to open on August 26, 2025, as announced by China Duty Free Group [1][2] - This store is part of the first batch of eight city duty-free stores established following the Ministry of Finance and other departments' notice on improving city duty-free store policies issued in August 2024 [1][2] Company and Industry Summary - The Guangzhou city duty-free store is a collaboration between China Duty Free Group, Guangbai Co., Lingnan Holdings, and Baiyun Airport [1][2] - The store will adopt an upgraded operational model combining "duty-free + taxable," "imported + domestic," and "offline + online," along with the introduction of departure tax refund services [1][2] - The product offerings will include a mix of internationally renowned brands, traditional Chinese brands, intangible cultural heritage brands, and local Lingnan特色 brands, covering both duty-free and taxable goods [1][2]

Core Insights - Guangzhou's first city duty-free shop is set to open on August 26, 2023, located in the CBD core of Tianhe District, aiming to enhance the city's status as an international consumption center [1][2] - The duty-free shop is a collaboration between China Duty Free Group, Guangbai Co., Lingnan Holdings, and Baiyun Airport, and is one of the first eight city duty-free shops established following a policy announcement in August 2024 [1][2] Summary by Sections Business Model and Offerings - The duty-free shop will adopt a "duty-free + taxable," "imported + domestic," and "offline + online" business model, incorporating departure tax refund services [1] - It aims to create a "city living room" that integrates global luxury goods, local characteristics, cultural experiences, and lifestyle aesthetics [1] Product Range and Experience - The store will feature a diverse product matrix, including international beauty brands, traditional Chinese brands, and local specialties, focusing on cosmetics, watches, high-end alcoholic beverages, and tech products [2] - Special themed areas such as a whiskey theme hall and a cultural exhibition space will be established to enhance the shopping experience [2] Consumer Engagement and Benefits - On the opening day, customers will have the opportunity to purchase duty-free items at discounted prices and receive complimentary dining and travel experiences with select purchases [2] - The establishment of the city duty-free shop expands the departure duty-free policy from traditional airport locations to urban centers, providing convenient shopping for outbound travelers [2]

Core Points - The "Shenzhen City Duty-Free Store Promotion Conference" was held on August 6, attracting over 50 travel agencies and hotels to participate, aiming to direct international business travel traffic to the city's duty-free stores [1] - The conference is part of a broader initiative following a notification from the Ministry of Finance and other departments last August, which established a duty-free store in Shenzhen and seven other cities [1] - Shenzhen has been proactive in the establishment of its duty-free store, becoming one of the first cities to implement the new duty-free store projects, showcasing the "Shenzhen speed" [1] - The first duty-free store in Shenzhen is set to open in the Futian District at Deep Industry Plaza, with operations currently in the final stages and an expected opening by the end of August [1] - The Shenzhen Municipal Bureau of Commerce emphasized its commitment to supporting the establishment of the duty-free store, facilitating opportunities for businesses to share in the open market [1]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 67.24 CNY [2][5] Core Insights - The company is expected to see a sales recovery in Q2 2025, supported by the implementation of departure tax refunds and the opening of new city stores [1][8] - The earnings per share (EPS) forecasts for 2025, 2026, and 2027 are adjusted to 2.24 CNY, 2.60 CNY, and 3.10 CNY respectively, reflecting a downward revision due to slower recovery in duty-free sales and lower-than-expected customer traffic [2] - The company is expanding its channels with new stores opening in Tianjin and enhancing customer engagement through innovative retail experiences [8] Financial Summary - Revenue projections for 2025, 2026, and 2027 are 61,865 million CNY, 67,993 million CNY, and 74,120 million CNY respectively, with growth rates of 9.5%, 9.9%, and 9.0% [4] - The company's gross margin is expected to improve slightly from 32.0% in 2024 to 32.8% in 2027, while net profit margin is projected to increase from 7.6% in 2024 to 8.7% in 2027 [4] - The return on equity (ROE) is forecasted to rise from 7.8% in 2024 to 10.3% in 2027, indicating improved profitability [4]