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星盛商业(06668.HK):抓住港客北上及扩大入境消费政策机会 不断提高商场人气
Ge Long Hui· 2025-08-16 19:41
机构:东方证券 研究员:赵旭翔/李雪君 2)2025 年福田COCO Park 成为区内首个离境退税"即买即退"试点,有望助力销售额继续攀升。不同于 传统离境退税,"即买即退"优化在于将退税环节前置到购物现场,直观地感受到退税带来的实惠有利于 二次消费。数据充分显示了"即买即退"政策对消费的强大拉动力。今年1-5 月,深圳市离境退税商品销 售额同比增长超2.1 倍,其中"即买即退"商品销售额同比增长超20 倍。根据公司公告,自2025年1 月1 日起,福田COCO Park 成为福田区首个离境退税"即买即退"试点,预计将吸引更多境外游客消费,拉动 商场销售额可观增长。 公司为湾区纯商管标杆,旗下 COCO 品牌美誉度高,定位年轻时尚,深受年轻人追捧,成功打造城市 级地标如福田COCO Park。近年来,公司抓住港客北上消费潮流机会,以及不断优化的扩大入境消费政 策利好,构筑商场客群优势,不断激发消费活力。根据公司24 年报及近期经营情况,我们调整了公司 营收增速及毛利率,同时调整了费用率,调整公司25-26 年EPS 预测为0.15/0.16 元(原预测为0.19/0.22 元)并引入27 年EPS 预测为0 ...
中兴商业:“三引三来”探索商业导流新模式 将客流沉淀为长期资产
Zheng Quan Shi Bao· 2025-08-14 18:21
Core Viewpoint - Zhongxing Commercial has been deeply engaged in the retail industry for over 30 years, adapting to rapidly changing consumer habits by implementing innovative marketing strategies and enhancing service experiences to meet core consumer needs. Group 1: Attracting Young Consumers - The rise of the "Z Generation" has led to a shift in consumption motivations, with young consumers valuing emotional experiences and social interactions [1] - Zhongxing Commercial has created engaging offline activities to attract young consumers, transforming the shopping experience into a leisure destination [2] - The company has successfully shifted consumer habits from "shopping to buy" to "shopping for leisure," achieving significant operational and innovative breakthroughs [2] Group 2: Family-Oriented Shopping Experience - Zhongxing Commercial emphasizes a service philosophy that integrates "goodwill" into daily operations, enhancing the shopping experience for families [3] - The company offers diverse activities and products that cater to all family members, encouraging longer visits and multi-generational shopping [3] - The focus has shifted from merely facilitating purchases to creating immersive experiences for families [3] Group 3: Attracting Provincial Consumers - The company has leveraged local policy incentives to enhance operational quality and stimulate consumer spending [6] - Zhongxing Commercial has introduced several first-store brands in the region, enhancing its market presence and attracting more customers [6] - The establishment of the Shenyang Zhongxing Dinosaur Museum has created a new model for integrating cultural tourism with retail, boosting foot traffic and customer retention [6] Group 4: Policy and Economic Impact - Zhongxing Commercial has become a pioneer in implementing the "immediate refund" policy for outbound tourists, enhancing the shopping experience and supporting local economic growth [7] - The company has seen increases in transaction numbers and customer engagement metrics, indicating successful adaptation to market demands [7] - By focusing on innovative marketing and quality service, Zhongxing Commercial has transformed transient customer traffic into long-term assets for the business [7]
“即买即退”助力畅游中国 暑期入境游热力攀升
Zheng Quan Shi Bao· 2025-08-12 17:35
Core Insights - The influx of foreign tourists to China has significantly increased this summer, driven by visa policy facilitation and social media promotion, leading to longer stays and broader travel areas [1][2] - The "immediate refund" service for departure tax has been successfully implemented nationwide, enhancing the shopping experience for foreign visitors [4] Group 1: Inbound Tourism Growth - The number of foreign visitors entering and exiting China reached 38.05 million in the first half of the year, a year-on-year increase of 30.2% [2] - Visa-free entry for foreigners accounted for 13.64 million visits, representing 71.2% of total inbound tourists, with a 53.9% increase compared to the previous year [2] - Tourists are increasingly exploring not only first-tier cities but also third and fourth-tier cities, with a growing interest in natural and wellness tourism [2] Group 2: Departure Tax and Shopping Experience - The nationwide rollout of the "immediate refund" departure tax service has improved efficiency by over 40%, with the number of tax refund stores exceeding 7,200 and a 186% increase in the number of people benefiting from tax refunds [4] - Foreign tourists are showing a strong preference for purchasing culturally significant products and electronics, with a notable increase in inquiries about departure tax refunds in shopping malls [4] Group 3: Challenges in Tourism Experience - There are ongoing challenges in improving the tourism experience, particularly regarding payment convenience, service accessibility, and price fairness [5] - Issues such as language barriers and the need for credit scores to access certain services have been highlighted as obstacles for foreign visitors [6] - The disparity in ticket prices between online and offline purchases has also been reported, indicating a need for better pricing transparency [6]
外交部:持续简化签证申请手续,实施“一站式”入境服务和离境退税“即买即退”。(央视)
news flash· 2025-07-11 07:40
Group 1 - The Ministry of Foreign Affairs is continuously simplifying visa application procedures [1] - Implementation of "one-stop" entry services and "immediate refund" for departure tax [1]
禅城首单离境退税“即买即退”业务落地!国际旅客畅享“购物自由”
Sou Hu Cai Jing· 2025-06-19 13:55
Core Viewpoint - The introduction of the "immediate refund" service for departure tax in Foshan enhances the shopping experience for international travelers, making it easier and more convenient for them to claim VAT refunds on their purchases [3][5][7]. Group 1: Departure Tax Policy - Departure tax allows international travelers to claim VAT refunds on goods purchased in designated stores when leaving the country [3]. - The "immediate refund" service is an upgrade to the departure tax policy, enabling travelers to receive a prepaid amount equivalent to the tax refund at the point of purchase after signing an agreement and authorizing a credit card [3][5]. - The minimum purchase amount for tax refunds has been lowered from 500 yuan to 200 yuan, making it more accessible for travelers [3]. Group 2: Impact on International Tourism - The number of international visitors to China has been increasing due to visa-free policies, leading to a surge in consumption by foreign travelers [3]. - Foshan Wangfujing Zhiwei Port has become a key consumption landmark for international travelers, featuring over 20 flagship stores of international beauty brands [5]. - The shopping center has implemented a multilingual guidance system and a foreign-friendly service team, leveraging 5G technology to optimize payment processes for a seamless shopping experience [5]. Group 3: Future Developments - The Foshan Wangfujing Zhiwei Port plans to promote the "immediate refund" service further and attract more international flagship stores and experiential retail formats to enhance its appeal [5][7]. - The local tax authority and Agricultural Bank of China Foshan branch are committed to improving the efficiency of the departure tax refund process and expanding the coverage of refund stores [7]. - The development of the "immediate refund" service aligns with the broader goal of establishing Foshan as a "urban consumption center" within the context of the Guangdong-Hong Kong-Macao Greater Bay Area [7].
今年免签入境杭州外国人已超11.6万人次 同比增长110%
Hang Zhou Ri Bao· 2025-06-10 03:00
Group 1 - The core viewpoint of the article is the expansion of visa-free policies for foreign nationals from certain Gulf countries, which is expected to enhance travel and business exchanges between China and these nations [3] - From June 9, 2025, to June 8, 2026, citizens from Saudi Arabia, Oman, Kuwait, and Bahrain holding ordinary passports can enter China without a visa for up to 30 days for various purposes [3] - This new policy, combined with the existing visa-free agreements with UAE and Qatar, achieves full coverage of visa exemptions for Gulf Cooperation Council (GCC) countries [3] Group 2 - The implementation of the visa-free policy and other favorable exit and entry measures has led to a significant increase in passenger flow at Hangzhou port, with over 200,000 foreign arrivals this year, including more than 116,000 visa-free entries, representing a year-on-year growth of 30% and 110% respectively [3] - The top three countries of origin for foreign visitors to China are South Korea, Malaysia, and Thailand, with approximately 37,000, 27,000, and 19,000 arrivals respectively, primarily for business and tourism purposes [3] - To support the new visa-free policy, the Hangzhou border inspection station has enhanced its foreign language service team and promoted the self-declaration system for foreign arrivals, ensuring efficient and orderly customs clearance [4]
福建优化离境退税措施 激发入境消费活力
Zhong Guo Xin Wen Wang· 2025-06-06 23:46
Core Insights - The article highlights the growing popularity of China's "immediate refund" tax policy for foreign tourists, which has been expanded nationwide to enhance the shopping experience and stimulate inbound consumption [1][2] Group 1: Tax Refund Policy - The "immediate refund" service allows foreign tourists to receive tax refunds at the point of purchase, significantly improving the efficiency of the refund process and enhancing the overall shopping experience [1][2] - The tax refund policy has been optimized by expanding the range of refundable products and improving the refund process, which has injected new momentum into inbound consumption [1][2] Group 2: Impact on Tourism and Retail - The number of foreign tourists utilizing the tax refund service has increased, with nearly 300 visitors served at a specific service area this year, leading to a 15% year-on-year growth in sales revenue from foreign tourists [2] - The shopping preferences of foreign tourists have diversified, now including a wide range of products such as clothing, food, electronics, and smart home devices, reflecting a shift from "China travel" to "China shopping" [2]
天津市首笔“即买即退”退税成功办理
Core Points - The implementation of the "immediate purchase and refund" tax refund service for outbound travelers in Tianjin marks a significant advancement in the city's tax refund process, enhancing the shopping experience for international visitors [1][2] - The new policy allows travelers to receive tax refunds immediately at the point of purchase, which can be used for further spending, thereby increasing the potential for consumer spending [1][2] - The time limit for travelers to leave the country after receiving a tax refund has been extended from 17 days to 28 days, providing more flexibility for planning their trips and encouraging additional purchases [2] Group 1 - The "immediate purchase and refund" service is officially launched in Tianjin, allowing travelers to claim tax refunds directly at participating stores [1] - The Tianjin Port Free Trade Zone is highlighted as a key area for international trade and consumer engagement, with the new policy expected to boost its status as an international consumption center [2] - The local tax authority has actively engaged with businesses to ensure they are prepared for the new refund system, facilitating a smooth transition and maximizing the benefits of the policy [2][3] Group 2 - The tax authority plans to monitor the development of "immediate purchase and refund" stores and explore electronic tax refund models to further enhance the shopping experience for visitors [3] - The initiative aims to create a friendly, efficient, and convenient tourism environment in Tianjin, promoting the city's openness to international consumers [3]
北京市“首单”!——西城离境退税集中退付点成功试运行
Sou Hu Cai Jing· 2025-05-21 12:39
Core Viewpoint - The article discusses the implementation of a pilot program for immediate tax refunds for outbound travelers in Xicheng District, Beijing, aimed at boosting domestic consumption and enhancing the shopping experience for international visitors [1][9]. Group 1: Policy Implementation - The pilot program for immediate tax refunds began on May 15, with the establishment of a centralized refund point at the Financial Street Shopping Center, marking it as one of the first in Beijing [1][9]. - The immediate tax refund policy allows international travelers to apply for VAT refunds at the point of purchase, enhancing convenience and efficiency in the shopping experience [3][7]. Group 2: Service Features - The immediate tax refund service requires travelers to meet specific conditions, including customs verification and adherence to the agreement terms for departure [4]. - There are currently 192 tax refund stores in Xicheng District, located in key shopping areas such as Xidan Financial Street and Dashilan, featuring luxury brands like DIOR, GUCCI, and BURBERRY [6]. Group 3: Customer Experience - On the first day of the pilot, a traveler purchased an item for 1,494 RMB and received a tax refund of 134.46 RMB, highlighting the immediate benefits of the new policy [11]. - The establishment of the centralized refund point is expected to improve the overall satisfaction of international travelers by streamlining the tax refund process across various stores in the shopping district [7][11].
@境外旅客!离境退税「即买即退」办理指南请查收!
蓝色柳林财税室· 2025-05-20 15:48
Core Viewpoint - The article discusses the improvements made by the State Taxation Administration to enhance the convenience of tax refunds for overseas travelers, specifically promoting the "immediate refund upon purchase" service in Ningbo [1]. Group 1: Eligibility and Conditions for Tax Refund - Overseas travelers eligible for tax refunds must meet the following conditions: - The total amount of tax refund items purchased in the same store on the same day must reach 200 RMB [4]. - The purchased items must not have been used or consumed [4]. - The departure date must be within 90 days of the purchase date [4]. - The items must be carried by the traveler or checked in for departure [4]. - For the "immediate refund upon purchase" service, additional conditions include: - The store must be part of the Ningbo initiative for this service [4]. - The traveler must promise to leave within 25 days of the purchase and hold a credit card capable of pre-authorization [4][5]. Group 2: Refund Calculation - The tax refund amount is calculated based on the sales invoice amount (including VAT) of the items being taken out of the country. The formula is: - Refund Amount = Sales Invoice Amount (including VAT) × Refund Rate - Refund Agency Handling Fee [5]. - The refund rates are as follows: - For items with a VAT rate of 13%, the refund rate is 11% [5]. - For items with a VAT rate of 9%, the refund rate is 8% [5]. Group 3: Refund Process - The refund process involves three main steps: 1. Purchase of tax refund items and obtaining the refund application form and sales invoice from the store [6]. 2. Customs verification at the departure port, where travelers must present the items, application form, sales invoice, and identification [6][7]. 3. Submission of documents to the tax refund agency for processing [7]. - For the "immediate refund upon purchase" service, the store must handle credit card pre-authorization and issue the refund application form at the time of purchase [7].