Shanghai Airport signs duty-free shop operating contracts, eyes revenue growth

Shanghai International Airport Co., Ltd. has finalized three duty-free shop operating rights transfer contracts following tender results for its Pudong and Hongqiao International Airport inbound and outbound projects.

One contract, with Dufry (Shanghai) Commercial Co., Ltd. for Shanghai Pudong International Airport (T1 terminal and S1 satellite hall international areas), runs for 3+5 years, from January 1, 2026, to December 31, 2033, covering 8465.7 m². Dufry will provide a performance bond of yuan 150 million.

Two other contracts were signed with China Duty Free Group Co., Ltd. for Shanghai Pudong International Airport (T2 terminal and S2 satellite hall international areas) and Shanghai Hongqiao International Airport. The Pudong T2/S2 contract is for 5+3 years, from January 1, 2026, to December 31, 2033, covering 9630.98 m², with a performance bond of yuan 150 million. The Hongqiao contract is also for 5+3 years, from January 1, 2026, to December 31, 2033, encompassing 2470.55 m², with a performance bond of yuan 30 million.

These agreements are expected to positively impact the company’s operating revenue from 2026 to 2033. Monthly fees will comprise a fixed monthly fee and a percentage of monthly sales revenue across various product categories, with fixed fees ranging from yuan 2827 to yuan 3141 per m² per month and commission rates from 8% to 24%.