Announcement display，Company Announcement The Board of Directors has reviewed and approved the opening and operation of duty-free shops in Hong Kong，A subsidiary of China Duty Free International Co., Ltd. (hereinafter referred to as "China Duty Free Company")，China Duty Free Hong Kong Duty Free Shop Co., Ltd. will be newly established with its own capital of HKD 50 million (the name shall be subject to actual registration)，The new Hong Kong duty-free shop will be opened and operated by China Duty Free Hong Kong Duty-free Shop Co., Ltd.。This is another major overseas layout of China 188bet sports betting after announcing the opening of a duty-free shop in Macau in July 2018。

Hong Kong is a free trade port，Except tobacco and alcohol，No tax is charged on the goods，Liquor in 188bet sports betting in the city is tax-free within a certain limit。Because of the smoking ban，Cigarettes are not sold in 188bet sports betting in the city，The sales prices of other products are not much different from those in ordinary stores。Currently，The operator of 188bet sports betting in Hong Kong is mainly Duty Free Shops (“DFS”)，DFS has T Galleria Beauty World Causeway Bay store in Hong Kong，Three 188bet sports betting in the city: T Galleria Canton Road store and T Galleria Tsim Sha Tsui East store。

Back on July 24, 2018，China 188bet sports betting issued an announcement saying，China Duty Free International Division invested in Macau with its own funds to establish a wholly-owned subsidiary "China Duty Free Group Macau Duty Free Shop Co., Ltd." (tentative name)，Registered capital is HK0 million，And the company opened and operated duty-free shops in Macau。

Duty-free business has become the growth engine of China 188bet sports betting，China 188bet sports betting 2018 annual performance report display，China 188bet sports betting achieved operating income of 470.1.2 billion yuan，66 year-on-year increase.23%；Operating profit 54.8.5 billion yuan，42 year-on-year increase.33%。China 188bet sports betting stated: With the development of the online travel industry and the transformation of residents’ travel consumption patterns，Fierce competition in the traditional travel agency industry，Profit margins are continuously compressed，Policy advantages are gradually declining。Compared to fierce competition、Travel agency business with limited profit margin，Duty-free shop business profit margin is more impressive。

Last year，China 188bet sports betting has made frequent moves to attack the duty-free business。February，China Duty Free Group with 15.0.5 billion cash acquisition of 51% equity of Rishang (Shanghai)。July 19，Rishang (Shanghai) was confirmed as the winner of the duty-free shop projects at Hongqiao International Airport and Pudong International Airport。December 24，China 188bet sports betting Announcement，The company will exit the travel agency business，Focus on the main duty-free business，Clear strategic positioning。

The Beijing News quoted analysts from 188bet sports betting Merchants Securities as saying，This investment in a new city duty-free shop in Hong Kong，Although labor costs are higher，Limited profit potential，But it will help improve the tax-free territory of Hong Kong and Macao，Accelerate the exploration of the international duty-free market。

*Source of this 188bet sports betting: Jiemian News, author of this 188bet sports betting: Huang Jie, original title: "China 188bet sports betting will open a duty-free shop in Hong Kong》.