China Free (01880) fell by more than 4%. As of press release, it was down 3.97% to HK$65.35, with a turnover of HK$72.4436 million.
The Zhitong Finance App learned that the China Free Tax Service (01880) fell by more than 4%. As of press release, it was down 3.97% to HK$65.35, with a turnover of HK$72.4436 million.
According to the news, Cinda Securities recently released a research report stating that 24Q1's revenue is 18.807 billion yuan. Looking at the split, we expect the Hainan sector to contribute 100+ billion yuan in revenue. Under the influence of factors such as cracking down on purchasing, weak spending power, and outbound travel diversion, the short-term demand in the Hainan sector is under pressure. 24Q1 revenue is expected to fall 20+% year on year; other sectors are expected to contribute about 3+ billion yuan in revenue, which is a steady increase in revenue share, or due to the continuous recovery of port stores.
In addition, China's 2023 financial report shows that the company achieved operating income of 67.54 billion yuan last year, an increase of 24.08% over the previous year; net profit of 6.714 billion yuan, an increase of 33.46% over the previous year. Despite both revenue and net profit growth last year, there is still a certain gap between the company's profit level and the peak period in 2021, and net profit to mother was only 70% of 2021.