Workflow
免税业
icon
Search documents
珠免集团2025年半年报:免税业务支撑业绩减亏 转型战略持续推进
Zhong Zheng Wang· 2025-08-26 07:21
相比之下,受房地产行业深度调整影响,公司房地产项目结转收入和毛利较上年同期下降,继续对公司 业绩形成拖累。公司表示,正持续加大存量房地产销售力度,通过数字化营销升级与渠道整合,加速去 化,全力履行"五年房地产业务有序退出"承诺。 公司表示,将持续把握粤港澳大湾区政策机遇,通过业态创新与资源整合,稳步推动消费产业生态升 级。 中证报中证网讯(王珞)8月25日晚,珠免集团(600185)发布2025年半年度报告。报告期内,公司实现 营业收入17.40亿元,归属于上市公司股东的净利润-2.74亿元,同比减亏2.80亿元。亏损幅度显著收 窄,免税业务成为关键支撑,公司"免税+商管+商贸"转型战略持续推进。 上半年,珠免集团在免税业务上积极推陈出新。通过引入香槟、白兰地等新品,拓展跨境电商与完税贸 易渠道,提升香化、食品销售占比。同时,公司调整免税店经营布局,实施差异化品类策略,提升坪 效。深化与保乐力加、轩尼诗等国际品牌的合作,满足消费者需求。通过整合免税资源赋能线上及消费 品贸易,构建大供应链体系。公司还致力于挖掘国内优质品牌,推动国货走向国际市场。政策环境也为 免税业务提供利好。珠海赴澳门旅游"一签多行"实施后, ...
珠免集团: 2025年半年度报告
Zheng Quan Zhi Xing· 2025-08-25 16:53
珠海珠免集团股份有限公司2025 年半年度报告 公司代码:600185 公司简称:珠免集团 珠海珠免集团股份有限公司 珠海珠免集团股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性,不 存在虚假记载、误导性陈述或重大遗漏,并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人李向东、主管会计工作负责人高升业及会计机构负责人(会计主管人员)石晶 华声明:保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 受各种风险、不确定因素及假设的影响,本报告中基于对未来政策、经济及产业的主观假定 和判断而作出的前瞻性陈述,可能与实际结果存在差异。本报告期内涉及未来计划、发展战略等 前瞻性陈述,不构成公司对投资者的实质承诺,敬请投资者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董 ...
半年报预告(二)!中免少赚6.4亿仍称王,华夏航空赚2亿成黑马
Sou Hu Cai Jing· 2025-08-07 06:01
Core Viewpoint - The tourism industry is experiencing a shift from growth to efficiency, where companies must enhance cost, structure, and scenario effectiveness to convert competitors' declines into their own gains [1] Duty-Free Industry - China Duty Free Group (中国中免) reported a net profit of 259,324.91 thousand yuan for the first half of 2025, a significant decrease of 6.4% from 323,770.03 thousand yuan in the same period last year [7] - The decline is attributed to pressures on Hainan's offshore duty-free sales, outbound consumption diversion, and intensified market competition [7] - Despite challenges, China Duty Free's market share increased by nearly 1 percentage point year-on-year, and inventory turnover improved by 10% [7] Hotel Industry - Jin Jiang Hotels (锦江酒店) expects a net profit of 39,000 to 41,000 thousand yuan for the first half of 2025, showing slight growth from 38,851.52 thousand yuan year-on-year [10] - The growth is driven by a light-asset operation model that effectively reduced cost pressures, despite the absence of similar revenue items as in the previous year [10] - In contrast, Nanjing Tourism (南京商旅) anticipates a net profit of 550 to 850 thousand yuan, a notable decline from 1,028.37 thousand yuan, primarily due to underperformance in its tourism service segments [10] Airline Industry - Major state-owned airlines, including China Southern Airlines, China Eastern Airlines, and Air China, are projected to incur losses ranging from 175,400 thousand to 240,000 thousand yuan, 160,000 thousand to 210,000 thousand yuan, and 180,000 thousand to 240,000 thousand yuan respectively, although losses are narrowing compared to the previous year [11] - The losses are attributed to imbalances in market supply, a downward shift in customer demographics, competition from high-speed rail, and uncertainties in the international environment [11] - Conversely, Huaxia Airlines (华夏航空) expects a profit of 20,000 to 28,000 thousand yuan, a significant increase from 1,255.50 thousand yuan, benefiting from improved demand in civil aviation and optimized route structures [11] Regional Tourism - Qinhuai Scenic Area (秦淮风光) reported a net profit of 4,299.41 thousand yuan, down from 5,037.84 thousand yuan, due to decreased consumer spending and visitor numbers [14] - Daming Cruises (大美游轮) achieved a net profit of 2,454.81 thousand yuan, slightly down from 2,850.74 thousand yuan, with operational metrics showing stable performance despite minor declines in average ticket prices and hotel occupancy rates [15] - Tengxuan Tourism (腾轩旅游) reported a loss of 523.59 thousand yuan, nearly unchanged from the previous year's loss, impacted by reduced income from air freight and domestic ticket commissions [15] Hong Kong Tourism - Hong Kong China Travel Service (香港中旅) reported a loss of 0.70 billion HKD, a reversal from a profit of 0.63 billion HKD, primarily due to investment property impairments [16] - Despite a 12% increase in total visitors to Hong Kong, the company faces challenges from reduced group tours and rising operational costs [16] Cultural and Sports Equipment - Dafen Industrial (大丰实业) expects a net profit of 6,423 to 7,252 thousand yuan, a significant increase from 4,144.08 thousand yuan, driven by strong demand for technology solutions in cultural and tourism sectors [17]
封关不是封岛,更便捷!海南自贸港开放力度更大、产业体系更优
Yang Shi Wang· 2025-07-27 09:22
Core Viewpoint - The Hainan Free Trade Port will officially start its customs closure on December 18, 2025, aiming to enhance international connectivity and facilitate trade and investment [1][3]. Trade Policy Measures - The implementation of a more favorable "zero tariff" policy will increase the proportion of zero-tariff goods from 21% to 74%, allowing for tax-free circulation of goods within the island [1][4]. - Trade management measures will be relaxed, allowing for open arrangements for certain currently prohibited or restricted imports [2][4]. - The establishment of ten "second-line" ports will facilitate the passage of goods entering the mainland, enhancing efficiency in customs procedures [2][4]. Regulatory Framework - A high-efficiency regulatory model will be adopted for zero-tariff goods, ensuring low intervention and high efficiency in supervision [2][4]. - The policy documents related to these measures will be published shortly and will take effect on the day of the full customs closure [2][4]. Economic Impact - Hainan's actual foreign investment reached 102.5 billion yuan, with an annual growth rate of 14.6%, indicating a robust economic environment [10]. - The proportion of the four leading industries (tourism, modern services, high-tech industries, and tropical agriculture) in Hainan's GDP has increased by 13.7 percentage points over five years, now accounting for 67% of the total [11]. Infrastructure and Preparedness - The necessary infrastructure for customs closure has been completed and passed national inspections, ensuring readiness for the new policies [11]. - Comprehensive pressure testing is being conducted to ensure that the new policies can be effectively implemented while maintaining regulatory oversight [11].
海南自贸港12月封关,海南、免税板块掀起“涨停潮”
Cai Jing Wang· 2025-07-24 09:11
Core Viewpoint - The news highlights the positive impact of the Hainan Free Trade Port's full island closure on the tourism market, particularly benefiting companies in the duty-free industry and related sectors [1][5]. Group 1: Market Reaction - China Duty Free Group (China CDF) saw its A-share price hit a new high of 70.84 CNY per share, reaching the daily limit on July 24, 2023 [1]. - In the Hong Kong market, the company's stock rose over 19%, closing at 64.4 HKD per share, marking its best performance since October 2024 [2]. - The stock market activity was driven by the release of policy benefits, with various stocks in the Hainan Free Trade Zone and duty-free sectors experiencing significant gains [2]. Group 2: Policy Details - The closure will implement a "zero tariff" policy, increasing the proportion of zero-tariff goods from 21% to 74% for imports [4]. - Trade management measures will be relaxed, allowing for the import of previously restricted goods [4]. - The closure aims to enhance the efficiency of customs supervision, ensuring smooth implementation of the new policies [4]. Group 3: Tourism Market Potential - Hainan is expected to attract 97.2 million domestic and international tourists in 2024, an 8% increase from the previous year, with a significant rise in inbound tourists [5][6]. - The provincial government is actively working to establish Hainan as an international tourism consumption center, leveraging the opportunities presented by the closure [5][6]. - Experts predict that the closure will enhance Hainan's tourism appeal through expanded visa-free entry and optimized duty-free shopping policies, attracting more international visitors [6].
珠免集团: 关于2024年度暨2025年第一季度业绩说明会召开情况的公告
Zheng Quan Zhi Xing· 2025-06-05 10:31
Core Viewpoint - Zhuhai Zhimian Group is transitioning its strategic focus from real estate to core duty-free business, aiming to enhance its competitiveness in the consumer sector [3][4][5]. Group 1: Company Overview - The company held an investor briefing on June 4, 2025, to discuss its 2024 annual performance and Q1 2025 results [1][2]. - Key executives, including the chairman and president, participated in the meeting to address investor inquiries [1]. Group 2: Financial Performance - In Q1 2025, the company reported a revenue of 919 million yuan and a net loss attributable to shareholders of 91 million yuan [5][6]. - The company’s total liabilities and total assets are both over 4 billion yuan, indicating a significant financial restructuring [4]. Group 3: Strategic Transition - The company completed a major asset restructuring by the end of December 2024, planning to gradually exit the real estate sector [3][4]. - The strategic focus will now be on the duty-free business, leveraging resources from its indirect controlling shareholder, Huafa Group [3][5]. Group 4: Market and Policy Environment - The company is closely monitoring policy changes in the Hainan Free Trade Port and the Hengqin Guangdong-Macao Deep Cooperation Zone, which are key areas for future business development [5][6]. - Recent government policies aimed at expanding domestic demand and consumption are expected to positively impact the company's duty-free and consumer business [8].
珠免集团业绩会:全面聚焦“免税+商管+商贸”发展体系
Group 1 - The company completed a significant asset restructuring by the end of December 2024, gradually exiting the real estate business and transforming its strategic focus to core duty-free operations, centered around the large consumption industry [1] - The company aims to leverage the resource advantages and industrial synergy capabilities of its indirect controlling shareholder, Huafa Group, to concentrate on the "duty-free + commercial management + trade" business development system [1][2] - The company has committed to an orderly exit from its existing real estate business within five years, accelerating its de-real estate strategy [1][2] Group 2 - The company has made strategic plans for the development of its large consumption business, including expanding duty-free operations in key national strategic areas such as Hainan Free Trade Port and Hengqin Guangdong-Macao Deep Cooperation Zone [2] - The company is integrating large shopping center assets to enhance consumer experiences and create a new flagship commercial brand [2] - The company is strengthening its supply chain resources to build a comprehensive platform covering procurement, warehousing, and digital marketing, forming a closed-loop business model of "promoting trade through duty-free and vice versa" [2] Group 3 - The company is benefiting from national policies aimed at expanding domestic demand and promoting consumption, which provide strong momentum for its duty-free and large consumption business development [3] - As of May 30, 2025, the passenger flow through the Gongbei Port between Guangdong and Macao exceeded 50 million, a year-on-year increase of 12%, which is expected to positively impact the company's duty-free sales [3] - The company is managing the Hongwan Fishing Port project, which covers an area of approximately 720,000 square meters, with an average annual fish unloading volume exceeding 60,000 tons, focusing on smart fishing port and industrial upgrades [3]
四国企联合运营广州市内免税店 白云机场拟450万参投持股10%
Chang Jiang Shang Bao· 2025-05-19 23:29
Core Viewpoint - Four state-owned enterprises, including Lingnan Holdings, Guangzhou Baiyun International Airport, and China Duty Free Group, are collaborating to establish a duty-free store in Guangzhou, aiming to enhance consumer spending and tax revenue [1][2][3]. Group 1: Company Collaboration - Lingnan Holdings, Guangzhou Baiyun International Airport, and Guangzhou Baiyun International Airport will jointly invest in a new company, China Duty Free Products (Guangzhou) Co., Ltd., with a registered capital of 45 million yuan [2][3]. - Each company will contribute to the registered capital, with Lingnan Holdings and Guangzhou Baiyun International Airport investing 8.775 million yuan (19.5%) and 4.5 million yuan (10%) respectively [2][3]. - The board of the new company will consist of seven directors, with China Duty Free Group appointing four, and the other three companies appointing one each [3]. Group 2: Market Context - The establishment of the duty-free store aligns with a government initiative to stimulate consumer activity and expand domestic demand, as outlined in a notification from five ministries [4]. - In 2024, China Duty Free Group won bids for multiple duty-free projects, including new city stores in Shenzhen, Guangzhou, Xi'an, Fuzhou, Chengdu, and Tianjin [4]. Group 3: Financial Performance - China Duty Free Group reported a revenue of 56.474 billion yuan in 2024, a decline of over 16% year-on-year, with a net profit of 4.267 billion yuan, down over 36% [5]. - Guangzhou Baiyun International Airport achieved a revenue of approximately 7.4 billion yuan in 2024, a 15% increase, and a net profit of about 930 million yuan, up 110% [5]. - Lingnan Holdings reported a revenue of 4.309 billion yuan, a 25.43% increase, and a net profit of 150 million yuan, up 116.08% in 2024 [5].
格力地产彻底“消失”,曾遭董明珠痛批!华发接盘,迎战中免?
Xin Lang Cai Jing· 2025-05-13 00:18
Core Viewpoint - Gree Real Estate has officially changed its name to Zhuhai Duty-Free Group (Rights Protection), marking its complete exit from the real estate sector and a shift towards new business areas such as duty-free and commercial management [2][4]. Company Transition - The transition of Gree Real Estate is driven by Zhuhai's state-owned assets, with the company now under the control of Huafa Group, which is expected to handle the disposal of existing projects more professionally than Gree Real Estate could have done alone [2][9]. - Gree Real Estate's historical performance has been poor, with a cumulative loss of nearly 4 billion yuan over three years from 2022 to 2024, primarily due to declining gross profit margins and significant asset impairment provisions [4][5]. Financial Performance - The company has faced severe cash flow issues, with cash and cash equivalents amounting to 5.065 billion yuan, while short-term borrowings and current liabilities total 7.862 billion yuan, indicating a significant short-term debt pressure [5]. - Gree Real Estate's revenue has been heavily reliant on real estate, with annual revenues fluctuating between 1.5 billion and 3 billion yuan from 2012 to 2016, contrasting sharply with Gree Electric's revenue in the hundreds of billions [4]. Market Challenges - The duty-free market is highly competitive, with China Duty Free Group holding a dominant position, increasing its market share in Hainan's duty-free market by nearly 2 percentage points in 2024 [11]. - The competitive landscape in the Guangdong-Hong Kong-Macao Greater Bay Area poses additional challenges, as both Shenzhen and Zhuhai duty-free markets compete for consumer attention, alongside Macau's duty-free shopping [11]. Future Outlook - Gree Real Estate has committed to exiting its real estate holdings within five years and focusing on duty-free, commercial management, and trade [7]. - The company is currently in the process of restructuring and rebranding, with its new website under development to reflect its new business focus [7].
在岸人民币盘中大涨近600点;节后足金饰品报价重回“千元”丨金融早参
Sou Hu Cai Jing· 2025-05-06 23:40
Group 1 - China's macroeconomic policies will become more proactive, aiming for a GDP growth target of around 5% by 2025, with a strong start in Q1 2025 showing a 5.4% year-on-year growth [1] - The positive economic outlook is expected to boost market confidence, particularly in sectors closely related to macroeconomic performance such as finance, infrastructure, and consumption [1] - The People's Bank of China and other financial regulatory bodies will introduce a comprehensive financial policy package to stabilize the market and manage expectations [2] Group 2 - The onshore RMB appreciated significantly, rising nearly 600 points to its highest level since November 2024, closing at 7.2169 against the USD, which is seen as a stabilizing factor for the financial market [3] - During the May Day holiday, UnionPay and NetUnion processed 23.439 billion payment transactions amounting to 7.64 trillion yuan, reflecting a year-on-year increase of 20.49% in transaction volume and 3.21% in value [4] - The significant growth in payment transactions from foreign visitors during the holiday indicates a strong recovery in domestic consumption and enhances the attractiveness of China's tourism market [4] Group 3 - Following the May Day holiday, international gold prices surged, with COMEX gold reaching $3,390 per ounce and spot gold surpassing $3,380 per ounce, reflecting increased demand for safe-haven assets amid global economic uncertainties [5] - The rise in gold prices is expected to benefit gold-related companies, enhancing their performance expectations, although it may pressure profit margins for jewelry brands unless they can maintain pricing power [5]