On the evening of August 24, China Tourism Group China Exemption Co., Ltd. (hereinafter referred to as "China China Exemption") disclosed its performance report for the first half of 2023 on the Hong Kong Stock Exchange.。

Performance data show that during the six-month period ended June 30, China Zhongfu realized operating income 358.5.8 billion yuan (RMB, the same below), compared with 276 in the same period last year..5.1 billion yuan growth of 29.68%, thanks to the recovery of the domestic tourism market during the period, offline sales growth;.5.4 billion yuan, up 16.66%; profit from operations during the period 51.3.2 billion yuan, down 4% from the same period last year..24 percent。

During the same period, profit attributable to equity shareholders of the Company was recorded 39.07 billion yuan, down 1.63%; basic earnings per share 1.8,887 yuan, 2 in the same period last year.0345 yuan, no interim dividend。

It is worth mentioning that although China's revenue increased significantly year-on-year, net profit decreased slightly, mainly due to a significant increase in the company's operating costs and selling expenses in the first half of the year.。

Domestic tourism industry return to temperature, multi-channel operation, steady repair

In the first half of the year, China Zhongfu successfully achieved steady growth against the backdrop of a gradual recovery in domestic tourism.。According to statistics, this summer, the domestic tourism market has achieved overall growth compared to 2019, and the recovery of outbound tourism is significant.。According to the "2023 Domestic Tourism Data" disclosed by the Ministry of Culture and Tourism of China, in the first half of 2023, the total number of domestic tourists increased by 63 year-on-year..9% to 23.8.4 billion; domestic tourism revenue reached 2.3 trillion yuan, an increase of 95.9%。

Hainan outlying island duty-free market to maintain healthy development brings greater opportunities。According to the Hainan Provincial Department of Commerce, in the first half of the year, the total sales of duty-free shops in Hainan outlying islands reached 323.9.6 billion yuan, up 31% year-on-year; according to customs Haikou data, the total sales of duty-free shops on outlying islands were 163.1.8 billion yuan, up 24.4%, tax-free shopping number 373.30,000, up 45.4%。In this regard, the company continues to optimize the regional operation and management of Hainan, to achieve unified pricing throughout the island, optimize promotional discounts, improve the sales structure of categories, etc., and thus improve the overall gross profit level.。

In addition to offline sales channels, China China Free also fully develops online business by building an integrated online platform, innovates and carries out digital marketing mode, realizes the effective connection of online and offline sales channels, and efficiently empowers enterprises to improve quality and efficiency.。During the period, the introduction of multiple brands on the online platform, coupled with active price pooling and non-price marketing tools, solidly enhanced online profitability.。

At the same time, China will expand its channel resources in an orderly manner, developing the right to operate duty-free shops in Tianjin, Dalian, Yunnan, Chengdu and other ports; and winning the right to open shops in Chengdu, Hangzhou International Airport and other large and medium-sized domestic airports.。In addition, pay close attention to the city's store layout planning work, as well as the expansion of overseas projects.。

In August 2023, according to the ranking published by the Moody's Devitt Report, an authoritative media outlet in the global travel retail industry, the company was the world's largest travel retailer in 2022 and has been ranked first in the world for three consecutive years.。

In addition, China has exempted itself from the formal implementation of the new membership system on June 8 to enhance its ability to combat smuggling such as purchasing agents.。Among them, the points system has improved compared with the previous standard, this new points policy on the previous large luxury high-fold points profit impact is more obvious, can effectively combat the purchase behavior, further enhance the company's profitability.。

In the second half of 2023, Hainan Province will launch various cultural activities, duty-free shopping festivals, the issuance of consumer vouchers and other ways to continue to promote consumption, and, small long holidays, winter exclusive is expected to promote inbound tourists and outlying islands duty-free consumption business quality continues to rise.。

Complex investment landing in-depth expansion of industrial layout

In addition to the duty-free tourism retail business and the wholesale and retail of duty-free goods, China Central Exemption is also engaged in the investment and development of commercial complexes with duty-free business as the core, and the duty-free business and the investment and development of commercial complexes in tourist destinations are the responsibility of its wholly-owned subsidiaries, China Exemption Company and China Exemption Investment Company, respectively.。

During the reporting period, China China Free continued to implement the construction of the complex project, Sanya International Duty Free City Phase I No. 2 company is expected to open at the end of September; Phase II to further optimize the commercial positioning, and actively promote the introduction of heavy luxury brands; Phoenix International Airport French Garden project smoothly, ready for operation。Many new store openings are expected to open up the peak season sales space, top luxury also helps to attract passenger flow, enhance the shopping experience

In terms of procurement investment, incremental properties are expected to bring sustainable growth elasticity。The company to improve gross margin as the core, accelerate the introduction of high-margin goods, optimize the layout of Hainan warehousing.。The follow-up is expected to continue to benefit from the improvement of channel brand operating capacity, the release of incremental high-quality properties, domestic and foreign tax-free pattern to good.。