Jefferies released a research report indicating that CTG DUTY-FREE's (01880) net profit for the fourth quarter of 2025 exceeded market expectations by 23% and was 5% higher than the firm's own forecast. Revenue surpassed market consensus by 3% but was 5% lower than the bank's projection. Sales trends have shown recovery following the full island customs closure in Hainan initiated on December 18. The target price is set at HK$61.7 with a "Hold" rating.

The report notes that CTG DUTY-FREE will announce its complete 2025 financial results on March 30. Jefferies believes market attention will focus on the company's sales outlook after Hainan's island closure, the transition to wholly-owned operation of port duty-free business from the 51%-owned Sunrise China/Beijing entity, and the planned opening of the Sino-Ocean Taikoo Li project in 2026.