China Duty Free Group released its performance report on Wednesday. The group’s operating income for the first quarter of 2024 was $2.99 billion (18.81 billion RMB), a year-on-year decrease of 9.45 percent; net profit reached $0.37 billion (2.31 billion RMB), a year-on-year increase of 0.33 percent. China Duty Free Group operates six offshore duty-free shops in Hainan Province, including the world’s largest and second-largest duty-free commercial complexes – Haikou International Duty-Free City and Sanya International Duty-Free City.