China Tourism Group Duty Free Corporation Limited Class H (HK:1880)
:1880
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China Tourism Group Duty Free Corporation Limited Class H
(1880)
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Rating:58Neutral
Price Target:
HK$50.00
▼(-32.16% Downside)
Action:Reiterated
Date:05/01/26
The score is primarily supported by a resilient, low-leverage balance sheet and continued profitability/positive cash generation, but is held back by weakening revenue and free-cash-flow momentum. Technical indicators are decisively bearish and valuation is elevated (high P/E), further constraining the overall score.
Positive Factors
Low leverage / strong balance sheet
The company's very low debt profile and equity growth provide durable financial resilience. Low leverage reduces default risk, preserves borrowing capacity for concession wins or capex, and supports operations through travel cycles, enabling strategic action across 2–6 months.
Negative Factors
Revenue volatility and recent declines
Pronounced revenue swings reduce cash flow predictability and complicate capacity planning. Recent multi-year declines show sensitivity to travel demand and policy, which can limit the company's ability to sustain investments in store network or marketing and pressures medium-term growth trajectories.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
The company's very low debt profile and equity growth provide durable financial resilience. Low leverage reduces default risk, preserves borrowing capacity for concession wins or capex, and supports operations through travel cycles, enabling strategic action across 2–6 months.
Read all positive factors
China Tourism Group Duty Free Corporation Limited Class H (1880) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$120.05B
Dividend Yield1.81%
Average Volume (3M)2.59M
Price to Earnings (P/E)30.8
Beta (1Y)1.30
Revenue Growth1.12%
EPS Growth5.68%
CountryHK
Employees16,027
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)1.93
Shares Outstanding125,321,100
10 Day Avg. Volume2,352,394
30 Day Avg. Volume2,586,441
Financial Highlights & Ratios
PEG Ratio-2.56
Price to Book (P/B)2.64
Price to Sales (P/S)2.73
P/FCF Ratio30.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$84.67Price Target Upside14.88% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)2.84
Revenue Forecast (FY)HK$66.40B
China Tourism Group Duty Free Corporation Limited Class H Business Overview & Revenue Model
Company Description
China Tourism Group Duty Free Corporation Limited, headquartered in Sanya, China, primarily operates in the duty-free travel retail sector across the country. The company's core business involves the wholesale and retail of a diverse range of duty...
How the Company Makes Money
The company primarily makes money by retailing consumer goods through duty-free (and in some cases duty-paid) channels to traveling consumers. Revenue is generated mainly from (1) merchandise sales: the company purchases products from brand owners...
China Tourism Group Duty Free Corporation Limited Class H Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 53.65B | 53.69B | 56.47B | 67.54B | 54.43B | 67.68B |
| Gross Profit | 17.38B | 17.58B | 18.09B | 21.49B | 15.45B | 22.79B |
| EBITDA | 5.54B | 6.79B | 5.40B | 9.84B | 8.94B | 16.30B |
| Net Income | 3.99B | 3.59B | 4.27B | 6.71B | 5.03B | 9.65B |
Balance Sheet | ||||||
| Total Assets | 85.31B | 74.98B | 76.26B | 78.87B | 75.91B | 55.47B |
| Cash, Cash Equivalents and Short-Term Investments | 35.17B | 33.78B | 34.82B | 33.39B | 26.89B | 16.86B |
| Total Debt | 9.44B | 4.24B | 4.37B | 4.64B | 6.85B | 5.44B |
| Total Liabilities | 21.79B | 13.86B | 15.31B | 19.69B | 21.78B | 20.68B |
| Stockholders Equity | 57.76B | 55.47B | 55.10B | 53.83B | 48.57B | 29.62B |
Cash Flow | ||||||
| Free Cash Flow | 3.84B | 4.79B | 6.82B | 13.32B | -6.41B | 6.17B |
| Operating Cash Flow | 5.17B | 6.06B | 7.94B | 15.13B | -3.42B | 8.33B |
| Investing Cash Flow | -5.11B | -3.48B | -454.30M | -4.72B | -3.81B | -2.32B |
| Financing Cash Flow | -3.86B | -3.18B | -4.37B | -4.63B | 15.45B | -3.82B |
China Tourism Group Duty Free Corporation Limited Class H Technical Analysis
Negative
73.70
Price Trends
57.76
Negative
68.37
Negative
69.46
Negative
Market Momentum
-2.18
Positive
28.54
Positive
12.44
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1880, the sentiment is Negative. The current price of 73.7 is above the 20-day moving average (MA) of 54.02, above the 50-day MA of 57.76, and above the 200-day MA of 69.46, indicating a bearish trend. The MACD of -2.18 indicates Positive momentum. The RSI at 28.54 is Positive, neither overbought nor oversold. The STOCH value of 12.44 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1880.
China Tourism Group Duty Free Corporation Limited Class H Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | HK$26.96B | 7.55 | 18.80% | 3.18% | 30.69% | -13.06% | |
66 Neutral | HK$1.00B | 5.43 | 41.54% | 1.89% | 44.93% | 18.38% | |
62 Neutral | HK$2.76B | 13.59 | 8.16% | 4.75% | 11.19% | 160.48% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | HK$120.05B | 30.84 | 6.39% | 1.81% | 1.12% | 5.68% | |
45 Neutral | HK$26.25M | -0.09 | ― | ― | ― | ― | |
41 Neutral | HK$724.18M | -0.07 | ― | ― | 13.45% | 48.65% |
* Consumer Cyclical Sector Average
HK:1880
China Tourism Group Duty Free Corporation Limited Class H
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China Tourism Group Duty Free Corporation Limited Class H Corporate Events
China Tourism Group Duty Free Reports AGM and H-Share Class Meeting Voting Outcomes
Jun 26, 2026
China Tourism Group Duty Free Corporation Limited reported the poll results of its 2025 annual general meeting and the 2026 first H shareholders’ class meeting held in Beijing on June 26, 2026. The meetings were convened and chaired by execu...
China Tourism Group Duty Free Outlines Board and Committee Structure
Jun 26, 2026
China Tourism Group Duty Free Corporation Limited has announced the current composition of its Board of Directors, headed by non-executive chairman Fan Yunjun and supported by a mix of executive and independent non-executive directors. This struct...
China Tourism Group Duty Free Sets Final 2025 Dividend and HKD Payout Terms
Jun 26, 2026
China Tourism Group Duty Free Corporation Limited has declared a final ordinary cash dividend of RMB 0.45 per share for the financial year ended 31 December 2025, approved by shareholders on 26 June 2026. For Hong Kong H-share investors, the divid...
China Tourism Group Duty Free Adds Board Election Resolutions to 2025 AGM Agenda
Jun 11, 2026
China Tourism Group Duty Free Corporation Limited has issued a supplemental notice to its 2025 annual general meeting, confirming the meeting will proceed on June 26, 2026 in Beijing. The update follows a proposal from its controlling shareholder,...
China Tourism Group Duty Free Proposes New Three-Year Board Term with Key Reappointments
Jun 10, 2026
China Tourism Group Duty Free Corporation Limited has proposed a new three-year term for its sixth board, with a slate of re-elections and nominations that underscore continuity in leadership and governance. The company’s controlling shareho...
China Tourism Group Duty Free Sets 2025 Final Dividend Details and Tax Treatment
Jun 4, 2026
China Tourism Group Duty Free Corporation Limited has updated details of its proposed final ordinary dividend for the year ended 31 December 2025, confirming a payout of RMB 0.45 per share subject to shareholder approval on 26 June 2026. Key timet...
China Tourism Group Duty Free Sets 2025 AGM to Vote on Dividends, Capital Changes and Share Mandates
Jun 4, 2026
China Tourism Group Duty Free Corporation Limited has called its 2025 annual general meeting for June 26, 2026, in Beijing, where shareholders will review the 2025 board work report and vote on the 2025 profit distribution proposal and 2026 interi...
China Tourism Group Duty Free Calls 2026 H Shareholders’ Meeting on Share Repurchase Mandate
Jun 4, 2026
China Tourism Group Duty Free Corporation Limited has called its first 2026 H shareholders’ class meeting for June 26, 2026 in Beijing, immediately after its 2025 annual general meeting and A shareholders’ class meeting. H shareholders...
China Tourism Group Duty Free Updates Articles After New H-Share Issue
May 28, 2026
China Tourism Group Duty Free Corporation Limited has expanded its H-share capital by issuing 8,937,600 new shares in Hong Kong on March 19, 2026, at HK$77.21 per share, allotted to Delphine SAS and Shoppers Holdings HK Limited. Following this iss...
China Tourism Group Duty Free Delivers Strong Profit Growth in Q1 2026
Apr 29, 2026
China Tourism Group Duty Free Corporation Limited reported modest revenue growth but significantly higher profitability in the first quarter of 2026. Operating income edged up 0.96% year on year to RMB 16.91 billion, while net profit attributable ...
China Tourism Group Duty Free Sets Board Date to Approve First-Quarter 2026 Results
Apr 17, 2026
China Tourism Group Duty Free Corporation Limited has scheduled a board meeting for April 29, 2026, to review and approve the first-quarter results for the period ended March 31, 2026. The board will also consider the publication of these quarterl...
China Tourism Group Duty Free Publishes Audited 2025 Annual Results
Mar 30, 2026
China Tourism Group Duty Free Corporation Limited, a major PRC-based duty-free retailer listed in Hong Kong, has released its audited annual results for the year ended December 31, 2025. The group focuses on duty-free and travel retail services to...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.