China Tourism Group Duty Free Corporation Limited Class H (HK:1880) has released an update.
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China Tourism Group Duty Free Corporation Limited faced significant challenges in the first three quarters of 2024, with a 15.38% drop in operating income and a 24.7% decrease in net profit. Despite these challenges, the company saw a significant increase in revenue from duty-free shops at major airports in Beijing and Shanghai, driven by expanded visa-free policies and more international flights. Additionally, the company successfully introduced 165 new brands, boosting sales and enhancing consumer recognition of domestic products.
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