On June 12, China Tourism Group Duty Free (01880.HK) rose 3.04% in regular trading, trading at HK$55.85/share, with turnover of HK$34.97 million.

On the news front, Zheshang Securities initiated coverage on the company with an Overweight rating on June 11, citing the company's consolidated leadership position through omnichannel barriers, premium category upgrades, and supply chain cost reduction. The broker highlighted that global travel retail is in full recovery, with the sector reaching US$74.1 billion in 2024. This follows multiple positive catalysts including a six-department joint policy optimizing departure tax refunds effective July, with measures such as small-amount spot checks for refund receipts under RMB 10,000, full paperless processing, and an extended departure window to 28 days.

Fundamentally, the company reported Q1 net profit growth of 21.18% year-over-year, with Hainan regional revenue surging 28.26%. Hainan duty-free shopping volume grew 26% in Q1 while inbound tourist arrivals rose over 53%. The board also approved buyback authorization of up to 10% of issued A and H shares and a final dividend of RMB 0.45 per share payable on August 14.

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