china tourism duty free corp

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China Duty Free Group showcases innovative strength at 4th CICPE

Cdfg partnered with qeelin to open boutique in singapore changi airport, ‘c beauty, see life’ pledges china duty free group amid landmark block c and global beauty plaza openings in haitang bay, cdfg wins multiple moodies, china duty free group earns cultural tourism accolade, duty zero by cdf makes grand entrance at cambodia’s siem reap-angkor international airport, unveiling a new chapter in overseas duty free retail.

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China tourism group duty free corporation limited (1880.hk).

• Previous Close 67.400
• Open 68.000
• Bid 68.750 x --
• Ask 69.000 x --
• Day's Range 67.450 - 69.300
• 52 Week Range 62.600 - 174.500
• Volume 1,249,816
• Avg. Volume 1,312,191
• Market Cap (intraday) 163.405B
• Beta (5Y Monthly) 1.35
• PE Ratio (TTM) 19.66
• EPS (TTM) 3.510
• Earnings Date --
• Forward Dividend & Yield 0.87 (1.29%)
• Ex-Dividend Date Jul 13, 2023
• 1y Target Est 116.45

China Tourism Group Duty Free Corporation Limited Overview Specialty Retail / Consumer Cyclical

China Tourism Group Duty Free Corporation Limited engages in duty-free travel retail business in China. The company engages in the wholesale and retail of duty-free commodities, such as tobacco and wine, perfume, cosmetics, accessories, clothing, and electronic products. It is also involved in commercial complex investment and development business. The company was formerly known as China International Travel Service Corporation Limited and changed its name to China Tourism Group Duty Free Corporation Limited in June 2020. The company was founded in 2008 and is based in Sanya, China. China Tourism Group Duty Free Corporation Limited operates as a subsidiary of China Tourism Group Co., Ltd.

Full Time Employees

December 31

Fiscal Year Ends

Specialty Retail

Recent News: 1880.HK

Chinese Travel Stocks Rise After Lunar New Year Break

Performance overview: 1880.hk.

Trailing total returns as of 4/26/2024, which may include dividends or other distributions. Benchmark is SSE Composite Index .

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China Tourism Group Duty Free Corp Ltd

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1.73 mean rating - 37 analysts

2024 (millions CNY)

About China Tourism Group Duty Free Corp Ltd (601888.SS)

Company information.

China Tourism Group Duty Free Corp Ltd is a China-based company mainly engaged in the retail business of travel commodities and the provision of related services. The Company conducts its businesses primarily through two segments. The Travel Retail segment is mainly engaged in the sale of duty-free and tax-taxed goods. The Investment and Development of Integrated Travel Retail Complex Development segment is principally engaged in the development of tourism retail complexes and property leasing. The Company conducts its businesses in the domestic market and overseas markets.

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+ 86 ( 10 ) 84479696

http://www.ctgdutyfree.com.cn/

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World No. 1: China Duty Free Group tops first-half global travel retailer rankings

Smartkarma anticipates China Tourism Group Duty Free Corp’s revenue for the second half of the year will be RMB28,700 million (US$4,247 million), a +23.8% year-on-year increase.

China Tourism Group Duty Free Corp has reported first-half revenue of RMB19,310 million (US$2,855 million), making China Duty Free Group (CDFG) the world’s largest duty free retailer for the first half of the year by turnover according to analysis by Nikkei Asian Review, subsequently confirmed by The Moodie Davitt Report.

As reported, Dufry, which has topped The Moodie Davitt Report Top 25 Travel Retailer Rankings by turnover for the last six years, saw revenue plunge -62% (-60.6% organic) to CHF1,587 million (US$1,734 million) in the first half of 2020. 

As reported, Lotte Duty Free, world number two last year, posted a -62% decline in sales year-on-year in Q2 2020 to KRW580.2 billion (US$490 million), bringing first-half sales to around US$1.25 billion based on today’s exchange rates.

China Duty Free Group ranked fourth in the latest Moodie Davitt ranking of travel retailers worldwide (based on 2019 sales). The 2020 results are likely to tell a very different tale as the retailer’s sales surge in Hainan and the rest of the channel wallows amid the COVID-19 crisis.

After China Tourism Group Duty Free Corp posted revenue +64.6% higher than Dufry for the first six months of the year, Li Dan, an analyst at Zheshang Securities, declared that the company has “succeeded Dufry” and is poised now to be the industry leader in a “new era of duty free”.

In the three months to the end of June, China Tourism Group Duty Free Corp net profit was up +6.7% year-on-year at RMB1,051 million (US$156 million) while revenue rose +5.4% year-on-year to RMB11,673 million (US$1,728 million).

The resurgence for the CDFG parent company in the face of the COVID-19 pandemic was primarily driven by sales on Hainan, which accounted for 47% of the company’s revenue in the first half of the year. In the six-month period, the company’s operations in both Sanya (revenue up +12.2% year-on-year) and Haikou (revenue up +136% year-on-year) performed ahead of expectations.

Smartkarma anticipates China Tourism Group Duty Free Corp’s revenue for the second half of the year will be RMB28,700 million (US$4,247 million), a +23.8% year-on-year increase.

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China Tourism Group Duty Free posts solid 2023 results despite soft Q4 in Hainan

CHINA. China Tourism Group Duty Free Corporation (CTG), the parent company of the world’s number one travel retailer China Duty Free Group, posted a +33.52% year-on-year increase in net profits for 2023 to CNY6.71 billion (US$944.8 million).

Preliminary results revealed yesterday for the full year show total operating income up +24.15% year-on-year to CNY67.576 billion (US$9.5 billion), while realised operating profit jumped by +13.77% to CNY8.668 billion (US$1.2 billion).

Operating income in Q4 rose +11.09% year-on-year to CNY16.739 billion (US$2.4 billion) while net profit increased +275.62% to CNY1.510 billion (US$212.6 million).

CTG said: “During the reporting period, the company’s business development was steadily improved with the profitability continuously optimised and the gross profit margin of the principal business steadily increased. In 2023, the gross profit margin of the company’s principal business was 31.44%, representing a year-on-year increase of 3.42 percentage points.”

In a note, Goldman Sachs Equity Research said it estimated CTG’s key Hainan operations (excluding duty paid, worth some CNY) to have reached CNY11.5 billion (US$1.6 billion) in Q4, up +3% quarter-on-quarter but lagging behind typical 4Q seasonality.

The firm commented: “Given Hainan’s tropical weather during the winter, 4Q was usually the strongest season with duty free sales tracking +10-20% above 3Q run-rate. We attribute the softer momentum (+3% qoq) of last year to the general weakness in China’s consumption sentiment, in absence of daigou contribution since its crackdown in March-April.”

The note said Hainan’s daily duty free store sales of CNY120-130 million (US$16.9-18.3 million) in Q2 2023 represented a -35-41% decline vs. FY21 level.

Goldman Sachs estimated CTG’s Q4 airport duty free sales had grown by a high-teen percentage quarter-on-quarter driven by a gradual recovery in per-passenger spending to 50-70% of pre-COVID levels (e.g. CNY250 at Shanghai Airport,CNY110-150 in Beijing). Following the recent improvement of the retailer’s concession terms at Shanghai Pudong International, Shanghai Hongqiao International and Beijing Capital International airports, the firm believes CTG’s airport duty free business could return to profitability this year.

Goldman Sachs maintained a ‘Buy’ rating on CTG stock.

CTG said it had focused on its established development strategy and business objectives in 2023 while promoting reforms, innovation and management enhancement. The company had strengthened reforms in key areas such as marketing, sales and supply chain, while continuing to focus on duty free business as its principal business.

CTG noted how it had optimised its domestic and overseas businesses, “through which operational benefits, operational efficiency and management quality were simultaneously enhanced, and the company’s core competitiveness continued to be strengthened.” ✈

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China Tourism Seeks $2.2bn in Hong Kong’s Biggest 2022 IPO

China tourism group duty free corp aims to raise up to $2.16 billion in a listing due to launch on august 25. it will be the biggest listing in hong kong this year..

China Tourism Group Duty Free Corp is offering a bigger discount than usual to entice investors to buy shares in a new listing in Hong Kong that aims to raise up to $2.16 billion.

The offering, expected to launch on August 25, comes amid hard times in the tourism sector, which has been hammered by repeated lockdowns under China’s rigorous zero-Covid policy.

This will be the largest share sale in the city so far in 2022, which has been a disappointing year also for listings in Hong Kong   – the slowest for new listings since 2009.

Shanghai-listed China Tourism is planning to sell 102.8 million shares priced between HK$143.50 and HK$165.50 ($18.30 and $21.10) each, according to its term sheet.

The offer has already been fully subscribed, according to two people with direct knowledge of the matter. The sources spoke on condition of anonymity because they were not authorised to discuss the matter with media.

China Tourism, which has built the largest duty-free retail network in China, did not respond to a request for comment on the deal’s launch or subscription rate.

The launch of the deal comes as Hainan island, in China’s south where China Tourism has several major shopping outlets, remains under tight restrictions due to a Covid outbreak .

The price range represents a 29% to 39% discount to the stock’s 201 yuan closing price on Thursday in Shanghai.

Hong Kong share sales of Chinese-listed companies are typically offered at a discount to entice investors to buy the stock but the flagged discount of China Tourism is higher than normal. The rate was chosen to help ensure the stock trades positively in the secondary market, one source said.

China Tourism’s Shanghai-listed shares have recovered most of their losses since lockdowns across Hainan began to be ordered last week. Its shares are down 8% year to date.

China Tourism plans to set the final price next Thursday, the term sheet said, and the Hong Kong stock will start trading on Thursday week (August 25).

Almost 40% of the stock on offer in the deal has been sold to cornerstone shareholders who will invest about $795 million, according to the term sheet.

Sanya, a holiday city on the southern end of Hainan island at the centre of the Covid outbreak, reported 1,690 symptomatic and 1,504 asymptomatic cases from August to 10.

The duty-free shop operator’s deal, if executed, would surpass Tianqi Lithium’s $1.7 billion listing in June to become the biggest share sale in Hong Kong in 2022.

There has been $4.9 billion worth of initial public offerings and secondary share sales in the city this year compared to $34.7 billion at the same time last year, according to Dealogic data.

• Reuters with additional editing by Jim Pollard

China Locks Down Millions in Hainan, Tibet for Covid Testing

New hong kong stock listings plunge 90% this year, china’s tianqi lithium shares plunge 11%, recover on debut.

Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years.

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China Tourism Group Duty Free Corp Ltd Class A 601888

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China Tourism Group Duty Free Corp Ltd

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• 1880:HKG.HZ Stock Exchange of Hong Kong Limited
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• Price (CNY) 89.35
• Today's Change 1.30 / 1.48%
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• 1 Year change -44.85%
• Beta 2.2631

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China Tourism Group Duty Free First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

China Tourism Group Duty Free ( SHSE:601888 ) First Quarter 2024 Results

Key financial results.

• Revenue: CN¥18.8b (down 9.4% from 1Q 2023).
• Net income: CN¥2.31b (flat on 1Q 2023).
• Profit margin: 12% (up from 11% in 1Q 2023). The increase in margin was driven by lower expenses.
• EPS: CN¥1.12 (up from CN¥1.11 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

China Tourism Group Duty Free EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 16%. Earnings per share (EPS) exceeded analyst estimates by 24%.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Specialty Retail industry in China.

Performance of the Chinese Specialty Retail industry.

The company's shares are down 5.9% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 1 warning sign for China Tourism Group Duty Free you should know about.

Valuation is complex, but we're helping make it simple.

Find out whether China Tourism Group Duty Free is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

About SHSE:601888

China tourism group duty free.

China Tourism Group Duty Free Corporation Limited engages in duty-free travel retail business in China.

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China Tourism Group Duty Free's Q1 Net Profit Up 0.25% Y/Y

SAYS Q1 NET PROFIT UP 0.25% Y/Y