Duty-Free Shops Average Daily Turnover Of 3 Million 170 Thousand

In June, Sanya became a group.

Is tax exemption so fire?

On the 27 th, CITS published the China Daily. In the first half of the year, Sanya duty-free shops realized sales of 228 million yuan, equivalent to 3 million 170 thousand yuan per day.

Its net interest rate has reached 21.5%, which has become the most profitable business of the company.

Net interest rate is higher than traditional tax exemption industry.

According to the company's report, in the first half of this year, the company's operating income was 5 billion 50 million yuan, an increase of 27.5% over the same period last year.

Net profit of 331 million yuan, an increase of 44.85% over the same period, earnings per share of 0.376 yuan.

It is worth mentioning that Sanya's duty-free shops have been accumulated.

In fact, the trial run time of duty free shops in Sanya was only 72 days in the first half of April 20th.

Taking into account its sales volume of 228 million yuan, equivalent to an average daily turnover of 3 million 170 thousand yuan.

According to statistics, the net interest rate of Sanya duty-free shops is 21.5%, which is obviously higher than that of traditional duty free businesses.

Meanwhile, the gross profit margin of duty-free commodities was 39.97% in the first half, up 5.16 percentage points from the same period last year.

Its growth rate is fastest in all businesses.

Guotai Junan said that the Sanya store has a better operation and profitability than the original duty free 18%.

Sanya duty-free shops are full retail businesses, with gross profit margin estimated at more than 50%.

"Daily economic news" reporter found that, aside from ticket agents, Sanya duty-free shops have the largest gross profit margin, and have become the most profitable business of the company.

It should be noted that despite the rapid growth of the tax-free business, the growth rate of the traditional "three tours" has slowed down compared with the same period last year.

Statistics show that inbound tourism revenue fell 6% year-on-year, an increase of 32% over the same period last year, while outbound tourism revenue grew by nearly 24%, but the growth rate over the same period last year was over 100%, while domestic tourism grew by 49%, compared with nearly 66% in the same period last year.

Focus on tax exemption expansion

29, a northern brokerages tourism industry

Galaxy Securities pointed out that the significant increase in gross margin of tax exemption business offset the effect of the re collection of value-added tax on retail duty free products.

Sanya duty-free shops are expected to earn 1 billion yuan in the whole year, contributing 200 million yuan or 0.23 yuan in earnings per share.

According to Guoxin Securities Research Report, the follow-up improvement of offshore duty-free policy in Hainan, the promotion of Haitang Bay International duty-free city project, the release of entry duty free shops, and potential merger and acquisition expectations will become the future stock price catalyst.

It is estimated that the EPS in 2011 ~2013 will be 0.86, 1.27 and 1.61 yuan respectively.

The duty free shops in Sanya contributed 0.23, 0.47 and 0.61 yuan respectively.