GRANDBUY jointly invests in Guangzhou Duty-Free Shop Co., Ltd. to enter the city duty-free market
GRANDBUY, together with CTG DUTY-FREE, LN Holdings, and GBIAC, jointly invested to establish CTG DUTY-FREE (Guangzhou) Co., Ltd., with a registered capital of 45 million yuan, of which GRANDBUY invested 8.775 million yuan, accounting for 19.50%. This move aims to explore the duty-free market in Guangzhou, respond to the policies of five ministries, promote the healthy development of downtown duty-free shops, integrate supply chain resources, drive the "retail + tourism" business, and upgrade the industrial ecological layout
According to the news from Zhitong Finance APP, GRANDBUY (002187.SZ) announced that in order to jointly explore the duty-free business in duty-free shops within Guangzhou, the company plans to jointly invest with CTG DUTY-FREE, LN Holdings, and GBIAC to establish CTG Duty-Free Products (Guangzhou) Co., Ltd. (tentative name, subject to final approval by the market supervision and management department) to operate duty-free shops in Guangzhou. The registered capital of CTG Duty-Free Products (Guangzhou) Co., Ltd. is RMB 45 million, of which the company intends to invest RMB 8.775 million from its own funds, accounting for 19.50% of the registered capital.
The Ministry of Finance, Ministry of Commerce, Ministry of Culture and Tourism, General Administration of Customs, and State Administration of Taxation have officially issued the "Notice on Improving the Policy for Duty-Free Shops in Cities," promoting the healthy and orderly development of duty-free shops in cities, with one duty-free shop to be established in each of the eight cities, including Guangzhou. Relying on the duty-free policy and the construction of Guangzhou as an international consumption center city, the company aims to quickly integrate supply chain resources through cooperation with CTG DUTY-FREE, LN Holdings, and GBIAC, enter the duty-free market, cultivate the "retail + tourism" business, upgrade the industrial ecological layout, and inject innovative momentum into its traditional main business
