Sunrise Duty Free is out! China Duty Free Group wins consecutive bids for duty-free projects at Beijing and Shanghai airports.
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China Duty Free Group (CDFG) announced that its wholly-owned subsidiary, China Duty Free (Group) Co., Ltd. ("CDFG"), has won the bid for the Beijing Capital International Airport Duty Free Project, Section 01 (Terminal 3).
The winning bid amount is a guaranteed operating fee of RMB 480 million for the first year, with a 5% sales commission rate for the first year. The operating period is from the contractually agreed start date to February 10, 2034 (not exceeding 8 years).
CDFG stated that after the signing of the above project, the company's channel advantages at core domestic airports will be further enhanced, which will help meet the multi-level and diversified shopping needs of inbound and outbound passengers, improve the diversified duty-free shopping experience, and thus promote the high-quality development of airport duty-free business. If the above project is successfully implemented, it will have a positive impact on the company's future operating performance.
Previously, on December 17, CDFG announced that it had won the bid for the inbound and outbound duty-free shops at Shanghai Pudong International Airport (Terminal 2 and S2 Satellite Hall international area) and Shanghai Hongqiao International Airport (Terminal 1 international area). This also marks the official exit of Sunrise Duty Free, ending its 26-year operation at Shanghai Airport and its duty-free business at Terminal 3 of Beijing Capital International Airport.
China Duty Free Group (CDFG) has consecutively won bids for duty-free projects at Beijing and Shanghai airports. Data shows that in the first three quarters of this year, CDFG achieved operating revenue of 39.86 billion yuan and net profit attributable to the parent company of 3.052 billion yuan.
