That business Except for the first quarter of 2020, this is the worst quarterly performance in nearly nine years.
Along with the company’s performance, its stock price also plummet.
Data shows that the market value of China whatsapp number list Duty Free Group’s A shares plummet from its peak of
741.7 billion yuan in February 2021 to 126.7 billion yuan on January 17, 2025, with more than 600
billion yuan wip out, and the cumulative decline during the period was close to 80%. The company’s more than 300,000 shareholders are suffering.
Today, China Duty Free Group’s A shares fell 2.5% to 60 yuan at one point, and its Hong Kong stocks fell by more than 6% at one point.
What happen to China Duty Free Group?
There are many reasons given in the market for the decline in China Duty Free Group’s performance.
These include multiple factors such as the weak Hainan offshore dutyfree market, sluggish domestic consumption and intensifi market competition.
As we all know, China Duty Free’s core business is dutyfree shops, and the core of dutyfree shops is
Hainan, which contributes more than half of the company’s revenue.
Although the overall passenger flow in hierarchy and distribution of headings Hainan’s tourism market has increas, with the resumption of
outbound tourism, Hainan’s offshore dutyfree sales have come under pressure, with both the shopping amount and the number of dutyfree shoppers declining.
Throughout the first half of 2024, the passenger throughput of ports and airports in Hainan Province reach 35.6845 million, a yearonyear increase of 9.1%.
However, data from Haikou Customs show that in 2024
Haikou Customs supervis a total of 30.94 billion yuan in Hainan’s offshore dutyfree shopping, a
decrease of nearly 30% compar with the same period in 2023 ; in addition, compar with 2023, the
number of dutyfree shoppers also fell by 15.9%. This mobile lead is the main reason for the decline in China Duty Free Group’s performance.
In addition, there are more and more domestic products that can replace foreign brands. Against this
background, consumers’ desire to buy foreign brands has been declining in recent years, which has further weaken China Duty Free’s competitive advantage That business.