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DFS and China Tourism Group Duty Free Announce Agreement for Sale and Purchase of DFS’ Greater China Retail Business

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  • China Tourism Group Duty Free (“CTG Duty-Free”) to acquire DFS’ stores in Hong Kong and Macau and intangible assets in Greater China
  • CTG Duty-Free and LVMH to develop further collaborations
  • LVMH and the Miller Family to subscribe to CTG Duty-Free’s H-shares

HONG KONG SAR – Media OutReach Newswire – 20 January 2026 – DFS, a global leader in luxury travel retail owned by LVMH and DFS’ co-founder and shareholder Robert Miller, and CTG Duty-Free, a prominent travel retail operator headquartered in Beijing, today announced a definitive agreement for CTG Duty-Free to acquire DFS’ travel retail business in Hong Kong and Macau and intangible assets in Greater China.

Through this transaction, CTG Duty-Free will acquire the DFS retail stores in Hong Kong and Macau1 as well as intangible assets encompassing a series of DFS brands and intellectual properties for exclusive use in Greater China. CTG Duty-Free will conduct the acquisition through its wholly owned subsidiary, China Duty Free International Limited. The proceeds of this transaction will be paid in cash. Following this transaction, DFS will continue to operate its other luxury travel retail operations worldwide.

In a complementary move, LVMH and the Miller Family will participate in a capital increase of CTG Duty-Free by subscribing to newly issued H-shares listed in Hong Kong. The subscription amount represents a small part of their proceeds, and the subscription will be made upon completion of the transaction.

CTG Duty-Free and LVMH also entered into a memorandum of understanding pursuant to which both parties aim to set up a strategic cooperation notably in the retail sector where the strategies of both parties are aligned and in line with the current business model of the LVMH Maisons. This cooperation will offer CTG Duty-Free and LVMH opportunities to leverage their respective strengths and forge further collaborations in Greater China to achieve mutual benefits, e.g. in the areas of product sales, store establishment, brand promotion, cultural communication, travel services or customer experience.

Luke Chang, Executive Director and President of CTG Duty-Free, commented: “This move will further expand CTG Duty-Free’s service network across the Greater Bay Area, aiming to build a platform for promoting China-chic brands globally and establish an international business mid-platform. CTG Duty-Free remains committed to providing high-quality travel retail experiences to both domestic and international tourists, fulfilling its responsibility as a central state-owned enterprise-controlled listed company to support the high-quality development of the retail economy in Hong Kong and Macau. Executed under the leadership of its parent company, China Tourism Group, this represents a significant step in accelerating CTG Duty-Free’s international business layout and actively implementing the Greater Bay Area Strategy and the “China-chic Brands Going Global” Strategy.”

Ed Brennan, Chairman and CEO of DFS, commented: “The sale of our Hong Kong and Macau stores marks an important step for DFS. DFS’ well-established presence and operational excellence in Hong Kong and Macau is an achievement we take great pride in. The DFS shopping experience will be carried forward and enhanced by the new skills and perspectives that CTG Duty-Free will bring. We are proud of our journey in this region and grateful to everyone who has been a part of it.”

Michael Schriver, President of LVMH for North Asia commented: “For decades, DFS has played a pivotal role in shaping Hong Kong and Macau into premier destinations for travel retail. As we look to the future, we consider China Tourism Group Duty Free to be the ideal partner to operate the DFS business in Hong Kong and Macau and to lead it into its next chapter, thanks to their expertise and proven track record in travel retail. This whole operation underscores our confidence in the long-term potential of the Chinese market.”

The completion of this transaction remains subject to customary closing conditions and is expected to close in around two months.

China Galaxy International acts as the sole financial advisor to CTG Duty-Free for this transaction, King & Wood Mallesons acts as the legal advisor to CTG Duty-Free, and Freshfields acts as the legal advisor to DFS and LVMH.

China Tourism Group Duty Free Corporation Limited (601888.SH, 1880.HK)

China Tourism Group Duty Free Corporation Limited (“CTG Duty-Free”) is a large listed company controlled by China Tourism Group. Its business includes duty-free retail, tax-paid retail, and the development of travel retail complexes. The company operates nearly 200 duty-free stores across more than 100 cities worldwide. CTG Duty-Free is the global duty-free operator with the most comprehensive range of store types and the largest number of retail outlets in any single country, with sales volume ranking among the world’s highest.

DFS: Your Personal Guide to The World of Luxury

DFS Group is the leading luxury travel retailer. Established in 1960, DFS Group continues to be a pioneer in global luxury travel retail, offering its customers a carefully curated selection of exceptional products from the most desired brands. Its stores are present in major global airports and downtown locations. DFS Group is privately held, and majority owned by the world’s largest luxury conglomerate, LVMH, alongside DFS co-founder and shareholder Robert Miller.

LVMH Moët Hennessy Louis Vuitton SE (MC.PA)

LVMH Moët Hennessy Louis Vuitton (“LVMH”) is represented in Wines and Spirits by a portfolio of brands that includes Moët & Chandon, Dom Pérignon, Veuve Clicquot, Krug, Ruinart, Mercier, Château d’Yquem, Domaine du Clos des Lambrays, Château Cheval Blanc, Colgin Cellars, Hennessy, Glenmorangie, Ardbeg, Belvedere, Woodinville, Volcán de mi Tierra, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Bodega Numanthia, Ao Yun, Château d’Esclans, Château Galoupet, Joseph Phelps and Château Minuty. Its Fashion and Leather Goods division includes Louis Vuitton, Christian Dior, Celine, Loewe, Kenzo, Givenchy, Fendi, Emilio Pucci, Marc Jacobs, Berluti, Loro Piana, RIMOWA, Patou, Barton Perreira and Vuarnet. LVMH is present in the Perfumes and Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums Givenchy, Kenzo Parfums, Perfumes Loewe, Benefit Cosmetics, Make Up For Ever, Acqua di Parma, Fresh, Fenty Beauty by Rihanna, Maison Francis Kurkdjian and Officine Universelle Buly. LVMH’s Watches and Jewelry division comprises Bulgari, TAG Heuer, Tiffany & Co, Chaumet, Zenith, Fred, Hublot and l’Epée. LVMH is also active in Selective Retailing as well as in other activities through DFS, Sephora, Le Bon Marché, La Samaritaine, Groupe Les Echos-Le Parisien, Paris Match, Cova, Le Jardin d’Acclimatation, Royal Van Lent, Belmond and Cheval Blanc hotels.

LVMH Contacts:

  • Media: Jean-Charles Tréhan, pr***@**mh.com, + 33 1 44 13 26 20
  • Analysts and investors: Rodolphe Ozun, + 33 1 44 13 27 21

CTG Duty-Free Contacts:

DFS group Contact:

  • Velda Steel – ve*********@*fs.com

1 Excluding the City of Dreams store in Macau

Hashtag: #DFS

The issuer is solely responsible for the content of this announcement.

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SKYWORTH Solar Accelerates Thailand Expansion as Part of New Global Growth Strategy

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SHANGHAI, CHINA – Media OutReach Newswire – 5 June 2026 – SKYWORTH Solar has reinforced its commitment to Thailand’s growing clean energy sector following the opening of its Bangkok office and the signing of a 100MW commercial and industrial (C&I) solar project memorandum of understanding with local partner CapSolar.

The announcement forms part of SKYWORTH Solar’s newly unveiled global growth strategy, revealed at the 2026 SNEC Exhibition and Global Customer Summit in Shanghai, where the company introduced its new positioning as a “Global Smart Energy Ecosystem Leader” and outlined plans to accelerate expansion across key international markets.

Thailand has emerged as one of SKYWORTH Solar’s strategic markets in Southeast Asia, driven by rising energy demand, increasing electricity costs for businesses, and growing momentum behind renewable energy adoption.

The opening of the company’s Thailand office at Empire Tower in Bangkok strengthens SKYWORTH Solar’s local presence. It enables the company to provide customers and partners with enhanced support across consultation, project execution, after-sales service, supply chain coordination and project delivery.

“Thailand represents a significant growth opportunity for SKYWORTH Solar as businesses increasingly seek reliable and cost-effective clean energy solutions,” said Wanfei Qu, Chief Investment Officer of SKYWORTH Group, CEO and Director of SKYWORTH Solar. “Our strategy is built on the principle of ‘Global Vision, Local Execution’, combining global expertise with strong local partnerships to support Thailand’s energy transition and long-term sustainability goals.”

As part of its expansion plans, SKYWORTH Solar signed a 100MW C&I solar project MOU with CapSolar, supporting the growing demand for rooftop solar solutions among commercial and industrial businesses.

The company is also strengthening its local ecosystem through investments in project development, financing partnerships and service capabilities. This includes a strategic banking collaboration with ICBC Thai and access to a US$500 million investment fund to support solar project development and deployment in Thailand and other international markets.

One example of SKYWORTH Solar’s growing footprint in Thailand is its 3MW rooftop solar project at UMC Steel Plant in Chonburi Province. The project is expected to generate approximately 4.4 million kWh of clean electricity in its first year, helping reduce energy costs while supporting the facility’s sustainability objectives.

The developments in Thailand were highlighted as part of SKYWORTH Solar’s broader global strategy unveiled at SNEC 2026. The company announced plans to expand its solar, energy storage, and integrated smart energy solutions across Europe, Southeast Asia, the Middle East, and Africa, in response to increasing global demand for renewable energy technologies.

As governments and businesses accelerate their decarbonisation efforts, SKYWORTH Solar aims to support customers through a combination of advanced technology, flexible business models and localised service capabilities.

For more information about SKYWORTH Solar and its clean energy solutions, please visit https://www.skyworth-pv.com.
Hashtag: #SKYWORTH

The issuer is solely responsible for the content of this announcement.

About SKYWORTH

SKYWORTH Solar, the cutting-edge PV brand under SKYWORTH Group, is a global leader in providing comprehensive one-stop solar solutions. Comprehensive end-to-end services are provided, encompassing consulting, design, and product O&M, all supported by a portfolio of self-developed solutions.

As a leading global renewable energy developer, service provider and energy solutions provider, SKYWORTH is actively shaping the future of energy. With a strong presence in EPC services and one-stop product solutions, SKYWORTH delivers high-quality, reliable, and innovative energy solutions. SKYWORTH ‘s commitment to originality and excellence has earned widespread recognition in international markets such as Germany, Italy, the UK, Brazil, and Senegal.

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Registration Now Open for Free Public Admission to Fifth Hong Kong Science Fair

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Over five years, nearly 9,000 teachers and students have participated in the Fair to drive youth engagement in innovation and technology

HONG KONG SAR – Media OutReach Newswire – 4 June 2026 – Organised by the Hong Kong Innovation Foundation (‘HKIF’), the Fifth Hong Kong Science Fair (‘Science Fair’) will take place from 27 to 28 June 2026 at the Hong Kong Convention and Exhibition Centre. The event will showcase around 120 shortlisted teams from primary and secondary schools across Hong Kong, presenting creative inventions that integrate artificial intelligence with a diverse range of technology applications. With Sino Group as Principal Patron, the Innovation, Technology and Industry Bureau of the HKSAR Government (ITIB) as the Supporting Bureau, and the Hong Kong Council for Testing and Certification (HKCTC) as Strategic Partner, HKIF is also honoured to have, for the first time, invited the Foundation for the Development of Science and Technology in China as an Advisory Organisation. Representatives from the Foundation will attend the award ceremony to witness the announcement of this year’s winning teams. Consistently a major draw for the community, the Science Fair is now open for online registration with free admission, and the public is warmly invited to attend in person.

Since its launch in 2021, the Science Fair has attracted participation from over 400 local schools, engaging nearly 9,000 students and teachers from Primary 4 to Secondary 6. To date, more than 2,200 creative invention submissions have been received, and the event has established itself as a key platform for youth I&T exchange.

Following Hong Kong’s first astronaut, Dr Lai Ka-ying, into space, the local innovation and technology ecosystem has attracted even greater attention. This year’s Science Fair has specially incorporated aerospace engineering elements, enabling the public to learn about the daily work and challenges of payload specialists, gain insight into the reality of aerospace research and development, and spark greater interest among young people in space exploration. Dr Lai launched aboard the Shenzhou-23 manned spacecraft and is expected to remain in space for approximately six months to conduct space science experiments and maintenance tasks. Visitors can express their support and encouragement by creating message cards for her. In addition, UBTECH Robotics, a globally leading enterprise in embodied AI robotics, will participate in the exhibition, showcasing multiple humanoid robots and offering visitors the opportunity to experience the appeal of embodied intelligence up close.

Professor Sun Dong, JP, Secretary for Innovation, Technology and Industry of the HKSAR Government, stated: ‘The Hong Kong SAR Government is fully committed to developing Hong Kong into an international innovation and technology (I&T) centre, with talent being a key driver of this growth. Now in its fifth edition, the Hong Kong Science Fair – organised by the Hong Kong Innovation Foundation – has become an annual flagship I&T education event. It offers students a valuable platform to turn their innovative ideas into practice, deepen their interest and confidence in I&T, and help bring I&T into schools and the wider community, thereby fostering a more innovation-friendly atmosphere. I look forward to seeing more young people unleash their potential through this platform, pursue careers in I&T, and contribute to the high-quality development of Hong Kong and our nation.’

Mr Daryl Ng, SBS, JP, Chairman of the Hong Kong Innovation Foundation and Chairman of Sino Group, said ‘Innovation and technology are key to Hong Kong’s long-term sustainable development and are integral to the country’s 15th Five-Year Plan. It is vital for Hong Kong to strengthen its I&T capabilities and actively contribute to national development, as underscored by the historic moment when Dr Lai Ka-ying became Hong Kong’s first astronaut. We are encouraged to see growing recognition of I&T opening up new opportunities for young people aspiring to pursue scientific research. As the Hong Kong Science Fair enters its fifth edition, its growth has been made possible by the support of the HKSAR Government, industry partners, tertiary institutions, research organisations, and our panels of judges. This year, we are grateful for the guidance and support of the Foundation for the Development of Science and Technology in China. Moving forward, the Science Fair will remain committed to nurturing talent from an early age, bringing together all sectors to promote I&T and inspire more young people to pursue careers in science and technology.’

Professor Anderson Shum, MH, Chairman of Judging Panel, Hong Kong Science Fair, President of The Hong Kong Young Academy of Sciences, said, ‘The Science Fair adopts the format of “integrating competition with exhibition,” enabling students to translate their learning into tangible and verifiable outcomes. This plays an important role in nurturing Hong Kong’s youth I&T ecosystem. I am delighted to have served as a judge for this major event over the years, witnessing students progressively enhance their presentation skills, build confidence, and broaden their horizons through exchanges with experts, participation in workshops and showcasing their work to the public. The standard of participating projects continues to improve each year, with increasing integration of artificial intelligence and diverse technological applications across different fields. Scientific research is a journey that demands passion and perseverance, and the growth of young scientists often begins with curiosity during their primary and secondary school years. Through these exchanges, we hope to leverage the role-model influence of young scientists, inspiring more students to pursue I&T as their lifelong career. I look forward to seeing our younger generation continue to grow and excel in scientific research and innovation, and officially join the community of scientists in the near future to jointly drive Hong Kong’s I&T development.’

Mr Michael Tam, Chief Brand Officer of UBTECH, said, ‘Humanoid robots are among the most promising real-world embodiments of artificial intelligence, reflecting a future in which intelligent systems are deeply integrated with the physical world. As a global pioneer in humanoid robotics, UBTECH has remained at the forefront of innovation for more than 14 years, with a long-standing commitment to I&T education. The company is dedicated to translating advanced technologies into practical, accessible educational resources. Through collaboration with like-minded partners such as the Hong Kong Innovation Foundation, we aim to inspire greater interest and engagement among both teachers and students in humanoid robotics and artificial intelligence. We are committed to supporting the development of Hong Kong’s I&T education ecosystem, helping to nurture future-ready talent and build a strong, sustainable foundation for long-term growth.’

Since its launch in 2021, the Science Fair has attracted participation from over 400 local schools, engaging nearly 9,000 Primary 4 to Secondary 6 students and their teachers. To date, more than 2,200 creative invention submissions have been received and total attendance has exceeded 120,000 visitors. The Science Fair has gradually established itself as a key platform for youth innovation and technology (‘I&T’) exchange and one of Hong Kong’s most representative I&T education initiatives. This year’s response has been enthusiastic, with over 500 project submissions received. Following preliminary judging, around 120 shortlisted teams took part in a series of workshops and mentorship sessions, and will present their projects at the exhibition in late June to compete for top awards. Gold award-winning teams from each category will have the opportunity to participate in the International Exhibition of Inventions Geneva in Switzerland, fostering idea exchange with global I&T talents.

The Hong Kong Science Fair draws tens of thousands of visitors each year. During the exhibition period, the venue will be transformed into a catalyst for city-wide I&T inspiration. In addition to student showcases, five interactive zones will offer hands-on experiences, including DIY bubble bath bomb workshops, freezer-free slushie making, themed games celebrating the Science Fair’s fifth anniversary, and modified remote-controlled cars made from upcycled household appliances, allowing visitors of all ages to explore science and innovation through engaging and enjoyable activities.

  • Bulu Bulu Bubble Factory: Blending science with sensory experiences, visitors can mix and mould from scratch to create a delightful ‘bathroom blind box’.
  • Shake Shake Ice Factory: Applying the principle of freezing point depression, participants will see how temperature can be rapidly lowered using only salt, ice and water to create personalised slushies — all without a freezer.
  • Scan2Play: Scan the QR Code on your phone to join the themed game celebrating the Hong Kong Science Fair’s Fifth Anniversary.
  • Racing Homey Kart 2.0: Showcasing the spirit of upcycling and upgrades, visitors can transform old, small household appliances into remote-controlled racing cars and compete on a dedicated track.
  • UBTECH Robotics Base: Featuring a wide range of robots, this zone provides a comprehensive showcase of the integration of artificial intelligence with mechanical engineering.

To celebrate the Science Fair’s fifth edition, various special experiences will be introduced. The venue will feature a hidden Science Fair character treasure hunt and check-in activity, through which visitors can redeem curated gifts upon completion. Limited-edition souvenirs, including the ‘HKSF-5 Metal Standee Collection’ and the ‘Special Edition Robo K’ blind boxes, will also be available in limited quantities. All proceeds from the HKSF Bazaar, with no deduction, will go directly to charity to support local community technology initiatives.

The Fifth Hong Kong Science Fair Details:

  • Date: 27 to 28 June 2026 (Saturday and Sunday)
  • Time: 10:00 am to 6:00 pm
  • Venue: Hong Kong Convention and Exhibition Centre, Hall 3FG
  • Admission: Free of Charge (Pre-registration online is required)
  • Registration Website: https://reghksciencefair.org.hk/public

Photos download: https://shorturl.at/mgawb

Hashtag: #HKIF #ScienceFair

The issuer is solely responsible for the content of this announcement.

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Exploring European Expansion Opportunities for China’s Manufacturing and Logistics Industry

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Cushman & Wakefield Hosts “Europe Unlocked” Summits in Shanghai and Guangzhou

HONG KONG SAR – Media OutReach Newswire – 4 June 2026 – This year marks the 50th anniversary of the establishment of diplomatic relations between China and the European Union. The principles of mutual respect, openness, cooperation, and win-win outcomes have long defined China–EU collaboration, laying a solid foundation for Chinese manufacturing enterprises expanding overseas.

Europe has now become a key strategic destination for Chinese companies going global, backed by its high-quality consumer markets, abundant labor force, mature industrial supply chains, and well-established legal framework. In response, Cushman & Wakefield hosted summits on the topic of Europe Unlocked — New Opportunities for China’s Manufacturing & Logistics Industry in Shanghai on June 2 and in Guangzhou on June 4, 2026.

These summits brought together Cushman & Wakefield’s industrial real estate experts from Europe, APAC and Greater China, along with representatives and leading industrial park enterprises from the United Kingdom, Germany, Hungary, Poland, and the Czech Republic. The events provided in-depth insights into the characteristics and advantages of European industrial investment and key industrial park investment opportunities, and attracted broad interest and participation from corporate representatives.

Matthew Bouw, Chief Executive, APAC & EMEA, Cushman & Wakefield, opened the Guangzhou summit and said: Leveraging our global platform to bring our logistics and industrial sector leads to China to provide in-person intelligence on the current dynamics and strategic opportunities across Europe’s markets is what Cushman & Wakefield is all about. The trading relationship between China and Europe is long established, and is now entering a new phase, as opportunities in e-commerce continue to evolve. Our significant investment in our digital ecosystem, including all things data, analytics, and AI, together with our local brokers’ deep market expertise, is helping clients make well informed, data-driven decisions to drive value for their businesses. It has been our pleasure to partner with our leading European developer clients to host these summits – and we look forward to continuing this working relationship going forward.”

KK Chiu, Chief Executive, Greater China, Cushman & Wakefield, commented: “Over the past five years, European investment in China has continued to grow steadily, with countries such as the United Kingdom, Germany, and Switzerland recording double-digit growth. European companies’ deep familiarity with China’s industrial supply chains also provides strong support for Chinese enterprises to expand into Europe and integrate into local markets. At the same time, Chinese enterprises are increasingly adopting a more strategic and long-term approach to overseas expansion, with greater emphasis on operational resilience, regional diversification, and proximity to customers. Through hosting Europe Unlocked summits, we aim to provide practical market insights and local expertise to help companies better navigate Europe’s diverse industrial landscape and make more informed expansion decisions”

Europe continues to attract strong interest from Chinese enterprises: Chinese inward investment into Europe reached almost €17 billion in 2025, up 67% on 2024 volumes and accounting for nearly a quarter of total global Chinese FDI in 2025[1]. European logistics and industrial markets show positive signs for businesses looking to locate in Europe with occupational demand rallying over the past year, availability of real estate options having grown in many markets since 2022 and developers keen to deliver more high-standard buildings to the market. Additionally, investor conviction in the asset class in Europe remains high with more capital being raised in 2025 to deploy specifically into logistics and industrial real estate assets in Europe than any other single sector[2].

Michael Carson, Head of Supply Chain & Logistics Consulting, APAC & EMEA, Cushman & Wakefield, added: “We’ve built strong credentials in core industrial markets across the region, including Germany, the UK and Eastern Europe. With deep experience, strong connectivity and best in class tools, we will help China manufacturing and logistics enterprises grow business and expand strategically into new markets across the globe.”

Tony Su, Managing Director and Head of Industrial & Logistics Services, China, Cushman & Wakefield, noted: “In recent years, we have drawn on our global resources and professional expertise to successfully support multiple enterprises in entering the European market. We have also assisted dozens of multinational companies in establishing operations in China. Looking ahead, we will continue to leverage our strengths to support the global expansion of Chinese manufacturing and logistics enterprises, providing efficient and professional on-the-ground services.”

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1 Rhodium Group
2 Realfin

Hashtag: #Cushman&Wakefield

The issuer is solely responsible for the content of this announcement.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 53,000 employees in nearly 350 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2025, the firm reported revenue of $10.3 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit or follow us on LinkedIn ().

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