Group 1 - The duty-free store concept index rose by 3.01%, ranking second among concept sectors, with 24 stocks increasing in value, including Hainan Development, Dongbai Group, and Zhongbai Group hitting the daily limit [1] - Leading stocks in the duty-free sector included Caesar Travel, Hainan Airport, and Dashi Co., which rose by 7.93%, 7.52%, and 7.23% respectively [1] - The stocks with the largest declines were Youa Co., Guangbai Co., and Juran Smart Home, which fell by 2.60%, 2.34%, and 0.94% respectively [1] Group 2 - The duty-free store concept received a net inflow of 1.42 billion yuan from main funds today, with 16 stocks experiencing net inflows, and 9 stocks seeing inflows exceeding 50 million yuan [2] - The stock with the highest net inflow was Bubugao, with a net inflow of 498 million yuan, followed by Hainan Development, Zhongbai Group, and China Duty Free, with net inflows of 328 million yuan, 219 million yuan, and 106 million yuan respectively [2] - The net inflow ratios for Dongbai Group, Bubugao, and Dashi Co. were 74.94%, 64.81%, and 15.03% respectively [3] Group 3 - The top stocks in the duty-free concept based on net inflow included Bubugao, Hainan Development, and Zhongbai Group, with daily price increases of 9.94%, 10.00%, and 9.97% respectively [3][4] - The trading volume and turnover rates for these stocks were significant, with Bubugao having a turnover rate of 6.21% and Hainan Development at 19.62% [3] - Conversely, stocks like Youa Co. and Guangbai Co. experienced declines in both price and net inflow, indicating potential challenges in the market [4]

大摩指出，上海机场及北京机场的免税店投标结果，预计将于本月公布。目前两个机场的免税店，均是 由中国中免占51%股权的Sunrise公司所经营。大摩列出多个假设情景，基准情形为中国中免在上海及北 京机场各获得一份合约，并使用其自身全资持有的免税牌照，集团将在线下渠道增加更多高利润产品， 并在Sunrise线上平台提供具价格竞争力的产品；此情况下，集团的股价将大致平稳。如中国中免在上海 及北京机场各获得一份合约，同时使用其全资持有牌照和Sunrise的牌照，股价可能上升5至10%。如 Sunrise分别同时在两个机场各获得一份合约，则中国中免的股价或下跌5%至10%。 智通财经APP获悉，中国中免(01880)午后张超4%，截至发稿，涨2.56%，报74.05港元，成交额2.72亿港 元。 中金发布研报称，11月17日上海机场开启浦东、虹桥国际机场进出境免税店招标，12月9日开标。中国 中免是最有希望的投标方，若用100%持股主体投标，利于增厚归母净利润。规模、供应链和运营、渠 道、人才是中免核心。2018-2019年中免在首都机场T3和大兴机场香化精品标段招标，财务分非第一但 技术分高最终中标，且在海南竞争中市 ...

Group 1 - The core viewpoint of the articles highlights the potential for China Duty Free Group (中国中免) to win bids for duty-free stores at Shanghai and Beijing airports, which could significantly enhance its profitability and market position [1][2] - China Duty Free Group's stock price has shown a positive trend, with a 4% increase in the afternoon session, reflecting investor optimism regarding the upcoming bidding results [1] - The company is expected to leverage its strong supply chain, operational capabilities, and talent to secure contracts, similar to its past successes at major airports [1] Group 2 - Morgan Stanley outlines various scenarios regarding the bidding outcomes, with a baseline expectation that China Duty Free Group will secure contracts at both airports, potentially stabilizing its stock price [2] - If the company utilizes its wholly-owned duty-free licenses effectively, it could see a stock price increase of 5% to 10% [2] - Conversely, if Sunrise, the company operating the current duty-free stores, wins contracts at both airports, there could be a potential decline in China Duty Free Group's stock price by 5% to 10% [2]

记者从广东省财政厅获悉，免税店新政实施后，省财政厅组织各地结合实际研究口岸出境免税店设立需 求，指导各地增设一批新的口岸出境免税店，为出入境旅客创造更多的在粤消费购物场景。12月4日， 省财政厅牵头会同省商务厅、省文化和旅游厅、海关总署广东分署、国家税务总局广东省税务局等五部 门印发《关于设立部分口岸出境免税店的通知》，批复我省两家出境免税店，其中在广州市南沙邮轮母 港口岸新增设立出境免税店，提升邮轮旅客出行体验，促进粤港澳大湾区邮轮产业发展；同时，同意经 营协议即将到期的广州市白云国际机场T2航站楼出境免税店继续设立，支持口岸出入境客流较大、历 史经营情况良好的免税店稳定运营，促进出入境旅客消费。 据了解，批复后，广东省口岸进出境免税店数量增加至52家，位居全国前列，将为广大口岸通关旅客在 粤消费提供便利的购物场所，降低消费者来粤旅游购物成本，有效促进在粤出入境人数优势转化为在粤 购物的消费增量。 今年10月30日，财政部等五部委印发《关于完善免税店政策支持提振消费的通知》，首次放宽了免税店 审批权限，明确自11月1日起将设立口岸出境免税店的审批权限下放至省级财政等部门，赋予了地方政 府更多免税店管理权限, ...

据了解，批复后，广东省口岸进出境免税店数量增加至52家，位居全国前列，将为广大口岸通关旅客在粤 消费提供便利的购物场所，降低消费者来粤旅游购物成本，有效促进在粤出入境人数优势转化为在粤购物 的消费增量。 广东省财政厅相关负责人表示，下一步，省财政厅将继续会同省有关部门指导推动相关地市促进免税店顺 利开业运营。同时，大力支持免税店增加线上预订服务，引进广东特色品牌产品进入免税渠道、开发具有 广东特色的主题免税购物场景，增强免税经济发展活力。 南都讯 记者卢婉珊今年10月30日，财政部等五部委印发《关于完善免税店政策支持提振消费的通知》，首 次放宽了免税店审批权限，明确自11月1日起将设立口岸出境免税店的审批权限下放至省级财政等部门， 赋予了地方政府更多免税店管理权限,支持地方因地制宜整合优化免税店布局。口岸出境免税店销售的进口 商品免征关税、进口环节增值税、消费税，国产商品实行退（免）增值税、消费税。 记者从广东省财政厅获悉，免税店新政实施后，省财政厅组织各地结合实际研究口岸出境免税店设立需 求，指导各地增设一批新的口岸出境免税店，为出入境旅客创造更多的在粤消费购物场景。12月4日，省 财政厅牵头会同省商务厅、 ...

（文章来源：每日经济新闻） 每经AI快讯，12月10日，免税店指数盘中上涨2.03%，主要成分股普涨。其中，南宁百货上涨5.97%， 海汽集团上涨4.48%，平潭发展上涨3.16%，大商股份上涨2.86%，王府井上涨2.81%。 ...

Core Viewpoint - The news highlights the potential exit of Sunrise Duty Free (Shanghai) Co., Ltd. from Shanghai Airport after 26 years of operation, as the chairman, appointed by the major shareholder China Duty Free Group, decided not to participate in the bidding for the airport's duty-free project [3][5]. Group 1 - Sunrise Duty Free (Shanghai) is facing a forced exit from Shanghai Airport due to the refusal of four out of seven board members, representing the major shareholder, to approve participation in the bidding [3][5]. - The bidding process for duty-free operations at Shanghai Pudong and Hongqiao International Airports commenced on November 17 and is set to close on December 9 [5]. - Sunrise Duty Free (Shanghai) was established in June 1999 and was the first foreign company to operate airport duty-free shops in China [7]. Group 2 - In 2018, China Duty Free Group acquired a 51% stake in Sunrise Duty Free (Shanghai) for 1.505 billion yuan, becoming the controlling shareholder [7]. - There was a prior agreement stipulating that all duty-free operations at airports in Shanghai and Beijing would be conducted through Sunrise Duty Free [9]. - Sunrise Duty Free currently operates at Beijing Capital International Airport and both terminals of Shanghai Pudong International Airport, as well as Terminal 1 of Shanghai Hongqiao International Airport [9].

（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，根据现行的出入境免税、离岛免 税、市内免税等政策要求，机器人等电子产品尚未纳入免税品种范围。目前深圳市内免税店特别设立 了"深圳之光"电子黑科技体验廊，部分机器人等产品采用有税经营，可面向国外客户提供离境退税服 务。 ...

（编辑 任世碧） 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，按照现行的市内免税店政策及优 化政策规定，并未新增城市及店面设立。公司持续加强存货动销控制，并在旺季到来前合理储备畅销 品。公司愿发挥自身采购和供应链优势，携手行业伙伴，共建开放、共赢的产业生态。 ...

Core Viewpoint - The board of directors of RiShang Duty Free (Shanghai) Co., Ltd. is in a dispute regarding participation in the Shanghai airport duty-free project bidding, with the majority of directors opposing the bid, potentially leading to the company's exit from the airport market [3][5]. Group 1: Company Background - RiShang Duty Free was established in June 1999 and is the first foreign company to operate airport duty-free shops in China [5]. - In 2018, China Tourism Group's subsidiary, China Duty Free Group, acquired a 51% stake in RiShang Duty Free, becoming the controlling shareholder [5]. - The company operates primarily at Beijing Capital International Airport and Shanghai's Pudong and Hongqiao International Airports [6][7]. Group 2: Current Situation - On December 6, 2025, a board meeting was held where the chairman, appointed by the major shareholder China Duty Free Group, indicated that the company would not participate in the bidding for the Shanghai airport duty-free project [3]. - The bidding process for the Shanghai airport duty-free shops began on November 17 and is set to close on December 9, 2025 [3]. - The disagreement among shareholders raises questions about the future of RiShang Duty Free's operations at Shanghai airport, as the chairman's refusal to sign the bidding documents could prevent the company from participating [3].