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- Mar 28, 202592% CONFIDENCEfrom dfnionline.com
China's Top Duty-Free Retailer Reports a 16% Revenue Drop for 2024
- China Tourism Group Duty Free (CDFG) reported 2024 revenue of CNY56.47 billion (about US$7.8 billion), down 19.6% (16.4% by some measures) from 2023[1][2]
- Net profit fell 36.3-36.4% to roughly CNY4.3 billion, with the fourth quarter the weakest of the year[1][2]
- CDFG pointed to a 'complex and challenging business environment', with weak domestic discretionary spending and softer Hainan offshore duty-free sales among the pressures[1]
References 290% CONFIDENCE
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- [1]90%moodiedavittreport.com/china-tourism-group-duty-free-corps-2024-sales-and-profits-hit-by-market-headwindsmoodiedavittreport.com· Posted Sep 25, 2026· Starts Mar 28, 2025· 89% of score
dfnionline.com[2] reports CDFG 'released its 2024 Annual Report on March 28, 2025'; the source article itself does not state the announcement date.
- [2]92%CDFG revenue decreased 16.3% in 2024dfnionline.com· Published Mar 28, 2025· Starts Mar 28, 2025 ✓· 11% of score
States CDFG 'released its 2024 Annual Report on March 28, 2025', with revenue of RMB56.5bn (US$7.78bn), down from RMB67.5bn in 2023.[1]
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