Focus on tax-free business China National Travel last year, net profit growth lasted nearly 51% in the quarter

Focus on tax-free business China National Travel last year, net profit growth lasted nearly 51% in the quarter
On the evening of April 22, China National Travel Service (601888) released its 2019 annual report.2019 is the first year of China International Travel’s alternative travel business.From the data point of view, the average net profit of China National Travel revenue last year increased, and the net profit increased year by year.58%; main business gross margin is 49.07%, an annual increase of 7.96%; basic profit income is 2.3708 yuan.China National Travel said that the increase in net profit benefited from the continued growth of the domestic duty-free retail market. The restructuring companies continued to optimize and consolidate the existing departure and offshore tax-free businesses, strengthen the company’s internal business integration, and continue to improve the company’s management efficiency.Specifically, last year China National Travel achieved operating income of 479.$ 6.6 billion, an annual increase of 2.04%, attributable net profit was 46.29 trillion US dollars, an annual increase of 49.58%, deducting non-net profit of 38.2.9 billion, an annual increase of 21.79%; net cash flow from operating activities was 29.2.6 billion, an annual increase of 7.49%, the company explained that it was mainly due to the continuous focus on tax-free business, which resulted from the increase in cash inflow due to the growth of tax-free business.In January 2019, in order to focus on its main business, China National Travel Group transferred 100% of its wholly-owned subsidiary, China Travel Service Corporation, to the holding East China Travel Group. The company’s main business became a tax-free business, including tax-free tobacco, alcohol and aromaCommodity wholesale and retail business.In addition, the company has also forced the investment and development of commercial complexes with tax-free business as the core.The company’s wholly-owned subsidiary, China Free Investment Corporation, and China International Travel Investment Corporation are respectively responsible for the company’s tax-free business and investment and development business of tourist destination commercial complexes.China National Travel said that the company’s main business gross profit margin was 49 during the reporting period.07%, an annual increase of 7.96%, initially in January 2019, the company transferred the equity of China Travel Service to the controlling shareholder of China Tourism Group, focusing on the duty-free retail market with a higher gross margin.Last year, China National Travel ‘s merchandise sales business achieved operating income of 469.6.7 billion, an annual increase of 36.79%, gross margin is 49.55%, a decrease of 2 from the same period last year.At 69%, the initial decrease in gross profit margin was the reported decline in the exchange rate of RMB against the US dollar, which led to an increase in the company ‘s procurement costs.Among them, the sales business of duty-free goods realized operating income of 458.1.8 billion, an annual increase of 37.89%, gross margin is 50.00%, decreasing by 3 every year.09%.The company’s taxable goods sales business realized operating income11.4.9 billion, an annual increase of 3.75%, gross margin is 31.59%, an annual increase of 4.68%.The channels of China International Travel’s duty-free business mainly include airport duty-free shops, city duty-free shops, island duty-free shops, overseas duty-free shops and online duty-free shops, and the island duty-free shops business is mainly in Hainan.In 2019, Sanya International Duty Free City will gradually realize 104 operating income.$ 6.5 billion, an annual increase of 30.65%, including 101 sales of duty-free goods.$ 7.4 billion, an annual increase of 30.93%.In terms of airport duty-free shops, Shanghai Airport Duty-Free Shop achieved operating income of 151.4.9 billion, an annual increase of 44.95%; Capital Airport Duty Free Shop achieved operating income of 85.8.9 billion yuan, an increase of 16.25%; Hong Kong Airport Duty Free Shop achieved operating income of 24.2 billion, an annual increase of 4.54%; Guangzhou Airport Duty Free Shop achieved operating income19.2.2 billion, an annual increase of 117.46%.On the same day, China National Travel released its first quarter report for 2020.Data show that in the first quarter of this year, China National Travel’s operating income was 76.3.6 billion, a decrease of 44 per year.23%; attributable net profit may be 1.2 billion, down by 105 every year.21%, compared with a net profit of 23 in the same period last year.0.6 billion; deduction of non-net profit may be 1.2 billion, a decrease of 107 per year.55%, compared with a net profit of 15 in the same period last year.8.9 billion; basically it can be 0.RMB 0615; the net cash flow from operating activities is 7.41 trillion bits, at least 120 per year.28%.In the first quarter of this year, China National Travel received a government subsidy of 1505.08 million yuan.China National Travel Service stated that the new Crown Pneumonia epidemic has affected the company’s duty-free shops, and some duty-free shops have closed or adjusted their business hours, which has affected the company’s normal operations.The company actively takes countermeasures. On the premise of doing strict anti-epidemic measures and ensuring the health and safety of consumers and employees, it alternately reduces sales losses caused by the decline in passenger flow; at the same time, it constantly innovates and optimizes online shopping models according to its own operating characteristicsTo increase the sales and promotion of online reservations for duty-free products and reduce the impact of the epidemic on the company ‘s operations.Sauna, Ye Wang Zhang Zeyan editor Li Weijia campus to Li Shihui reporter email: zhangzeyan @ xjbnews.com