China Free (01880) fell nearly 3% in the morning. As of press release, it was down 2.96% to HK$67.2, with a turnover of HK$73.4145 million.
The Zhitong Finance App learned that the China Free Tax Service (01880) fell nearly 3% in the morning. As of press release, it was down 2.96% to HK$67.2, with a turnover of HK$73.414,500.
According to the news, Haikou Customs data shows that on May 1, Haikou Customs supervised a total of 115 million yuan in duty-free sales on the outlying islands. The number of duty-free shoppers was 21,300, and the per capita consumption was 5,384 yuan. According to CICC, this figure was down 19/5/15% from the performance on the first day of the May 1st holiday in '21, and the average daily performance for the first two days of the May 1st holiday in '23 fell by 34/10/ 27%, respectively. Looking ahead, the bank suggests continuing to track changes in daily sales in Hainan and the marginal impact of Hainan's customs clearance policy on the duty-free industry.
Dongxing Securities previously pointed out that weak duty-free sales on the outlying islands in Q1 in 2024 led to weak revenue performance, but the profit side was relatively strong. The bank is optimistic about the company's long-term development as a duty-free leader, but considering the weak overall recovery in consumption and the blocking of duty-free sales on the outlying islands affected the company's short-term performance, it lowered the company's A-share rating.