本期信息
中国中免发布2026年中期报告，期内实现营收276.55亿元，同比减少1.76%。经调整净利润录得30.73亿元，同比上升4.88%。毛利达到92.53亿元，同比增长2.93%，对应毛利率为33.44%。经营利润为39.51亿元，同比增长3.84%，经营利润率约14.28%。报告期内经营活动所产生的现金流净额约24.80亿元，同比下降4.90%。
从成本结构来看，销售及推广费用为47.54亿元，同比下降0.83%，占同期营收的17.19%；管理费用为11.01亿元，同比增长5.36%，占同期营收比例约3.98%；研发费用约0.27亿元，同比减少29.56%，占同期营收比重约0.10%。
业务分项
旅游零售业务方面，报告期内实现收入约273.63亿元，较去年同期下滑约1.62%。物业务务收入约9.52亿元，同比下降约9.80%。公司表示，其在报告期内持续深耕海南离岛免税业务，并加快国际化布局。同期会员规模突破6000万，外籍客群消费增长明显。
高管解读 （本期无相关信息披露）
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