CTG DUTY-FREE (01880) declined over 4%, falling 4.23% to HK$62.2 with trading volume reaching HK$203 million as of press time.

The company announced its interim results for 2025, reporting revenue of RMB 28.151 billion, down 9.96% year-on-year. Gross profit reached RMB 8.99 billion, declining 12.23% compared to the same period last year. Net profit attributable to equity shareholders was approximately RMB 2.622 billion, representing a 20.68% decrease year-on-year.

Dongwu Securities noted that while the company's second-quarter revenue decline narrowed, profitability faced significant pressure. The firm believes that CTG DUTY-FREE, as the leading player in travel retail, maintains a solid market position. The upcoming Hainan Free Trade Port closure policy on December 18, 2025, along with the gradual opening of downtown duty-free stores, is expected to drive long-term sales growth.

However, considering the current pressure on duty-free consumption demand, the firm has lowered its profit expectations for the company.