Summary by Moomoo AI
China Tourism Group Duty Free Corporation (China Tourism) announced its interim financial report on June 30, 2024. The report shows that in the face of a complex and severe external market environment, the company actively carried out various work to promote the vitality of the Hainan market, and introduced about 50 new brands in the Hainan region, increasing market share. The company also optimized the sales structure of commodities, increased the proportion of high-gross-margin products, and strengthened the construction of the supply chain system. During the reporting period, the company's main business gross margin was 32.94%, an increase of 2.62 percentage points year-on-year. In addition, the company strengthened the synergy between online and offline channels, improved conversion rates and repurchase rates. As of the end of the reporting period, the operating profit of the company was 4.648 billion yuan, a decrease of 9.43% compared to the same period last year, and the total profit was 3.667 billion yuan, a decrease of 11.36% year-on-year.
