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China Tourism Group Duty Free Corporation Limited (601888.SS)

CNY54.41 +3.49 (+6.85%)
CN SHH Consumer Cyclical Specialty Retail
Address Block A, No. 2, Dongzhimen Waixiaojie 100027
Beijing, CN
CEO Zhujun Chang
IPO 2009-10-15
ISIN CNE100000G29

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Also trades on Hong Kong Stock Exchange · 1880.HK (HKD) Shanghai Stock Exchange · 601888.SS (CNY)
Description

China Tourism Group Duty Free Corporation Limited manages and operates tax-free retail establishments across China. Its core business encompasses both the wholesale distribution and direct sale of various duty-free commodities, such as alcoholic beverages, tobacco products, fragrances, and luxury items. Beyond this, the corporation actively participates in the travel retail sector and is involved in the investment and development of commercial property complexes. Established in 1954, with its headquarters situated in Beijing, China, the entity was formerly recognized as China International Travel Service Corporation Limited until it adopted its present name in June 2020. It operates as a key subsidiary of China Tourism Group Co., Ltd.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
CNY54.41 +3.49 (+6.85%)
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Volume Profile
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Liquidity & share structure
Average Volume
37M
Beta
0.45
Float Shares
1.03B
Free Float %
52.8%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-1.10% -3.46% -11.83% -35.36% -31.77% -35.63% -2.72% -56.43% -79.91% +182.46% +612.76%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
54.41
DCF (Unlevered) 62.00 +13.9%
DCF (Levered) 64.01 +17.6%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 95% Bullish
Rating 2024-11 Change
Strong Buy 7 0
Buy 11 0
Hold 1 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
5.36
Safe zone
Piotroski F-Score
6 / 9
Average
MOAT Score
3 / 10
No MOAT
Composite Rating
B
Overall Score
3 / 5
Medium
DCF Score
3 / 5
Medium
ROE Score
3 / 5
Medium
ROA Score
4 / 5
High
D/E Score
3 / 5
Medium
P/E Score
2 / 5
Medium
P/Book Score
2 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Specialty Retail: +6.4%
    -4.9% Q1'26: +1.0% (vs Q1'25)
  • EPS growth Specialty Retail: +20.6%
    -16.0% Q1'26: +20.2% (vs Q1'25)
  • FCF margin FCF growth · Specialty Retail: +29.3%
    +10.0% Q1'26: +21.3% (vs Q1'25)
  • EBIT margin Specialty Retail: +5.4%
    +9.9% Q1'26: +15.6% (vs Q1'25)
  • ROIC Specialty Retail: +6.5%
    +16.8% Q1'26: +23.5% (vs Q1'25)
  • Share dilution Specialty Retail: +0.1%
    +0.0% Q1'26: +0.4% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Specialty Retail: 0.14×
    0.80× Q1'26: 0.90× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.52) × ERP
WACC = 97% × Ke + 3% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 61.22 Current price: 54.41
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
18 Rev. Ana.
20 EPS Ana.
Dec 2027
20 Rev. Ana.
21 EPS Ana.
Dec 2028
15 Rev. Ana.
16 EPS Ana.
Revenue
21.29B
est: 21.70B (-1.9%)
22.39B
est: 23.16B (-3.3%)
28.28B
est: 28.60B (-1.1%)
47.01B
est: 46.59B (+0.9%)
48.61B
est: 47.33B (+2.7%)
52.60B
est: 52.78B (-0.3%)
67.68B
est: 68.11B (-0.6%)
54.43B
est: 55.33B (-1.6%)
67.54B
est: 62.95B (+7.3%)
56.47B
est: 57.08B (-1.1%)
53.69B
est: 54.31B (-1.1%)
58.12B
55.15B – 61.82B
+7.0% YoY
64.83B
57.81B – 71.17B
+11.5% YoY
72.32B
72.26B – 72.37B
+11.6% YoY
EBITDA
2.30B
est: 3.23B (-28.7%)
2.56B
est: 3.44B (-25.5%)
3.64B
est: 4.25B (-14.3%)
5.58B
est: 6.92B (-19.4%)
6.83B
est: 7.04B (-2.9%)
9.22B
est: 7.84B (+17.5%)
14.58B
est: 10.12B (+44.0%)
7.63B
est: 8.22B (-7.2%)
7.88B
est: 8.39B (-6.2%)
5.40B
est: 7.61B (-29.0%)
5.30B
est: 7.24B (-26.8%)
7.75B
7.35B – 8.24B
+7.0% YoY
8.64B
7.71B – 9.49B
+11.5% YoY
9.64B
9.64B – 9.65B
+11.6% YoY
EBIT
2.13B
est: 3.11B (-31.5%)
2.41B
est: 3.32B (-27.5%)
3.49B
est: 4.10B (-15.0%)
5.33B
est: 6.68B (-20.1%)
6.53B
est: 6.78B (-3.7%)
8.91B
est: 7.56B (+17.7%)
14.34B
est: 9.76B (+46.9%)
7.36B
est: 7.93B (-7.1%)
7.52B
est: 8.13B (-7.5%)
5.01B
est: 7.38B (-32.1%)
5.30B
est: 7.02B (-24.4%)
7.51B
7.13B – 7.99B
+7.0% YoY
8.38B
7.47B – 9.20B
+11.5% YoY
9.34B
9.34B – 9.35B
+11.6% YoY
Net Income
1.51B
est: 1.74B (-13.3%)
1.81B
est: 1.84B (-1.5%)
2.53B
est: 2.61B (-2.9%)
3.09B
est: 3.45B (-10.2%)
4.63B
est: 4.89B (-5.3%)
6.14B
est: 6.34B (-3.2%)
9.65B
est: 10.41B (-7.2%)
5.03B
est: 5.54B (-9.2%)
6.71B
est: 6.13B (+9.5%)
4.27B
est: 4.59B (-7.0%)
3.59B
est: 4.00B (-10.3%)
5.16B
4.82B – 5.79B
+29.2% YoY
6.11B
5.39B – 7.66B
+18.4% YoY
7.22B
6.42B – 9.43B
+18.1% YoY
SGA
686.79M
est: 762.13M (-9.9%)
623.55M
est: 813.51M (-23.4%)
782.79M
est: 1.00B (-22.1%)
1.21B
est: 1.64B (-26.3%)
1.41B
est: 1.66B (-15.3%)
1.45B
est: 1.85B (-22.0%)
2.32B
est: 2.39B (-3.1%)
2.32B
est: 1.94B (+19.6%)
2.38B
est: 1.86B (+27.6%)
2.03B
est: 1.69B (+19.9%)
est: 1.61B (-100.0%)
1.72B
1.63B – 1.83B
+7.0% YoY
1.92B
1.71B – 2.11B
+11.5% YoY
2.14B
2.14B – 2.14B
+11.6% YoY
EPS
0.77
est: 0.84 (-8.3%)
0.93
est: 0.89 (+4.8%)
1.30
est: 1.26 (+3.2%)
1.59
est: 1.67 (-4.6%)
2.37
est: 2.36 (+0.3%)
3.14
est: 3.07 (+2.4%)
4.94
est: 5.03 (-1.8%)
2.53
est: 2.68 (-5.5%)
3.25
est: 2.96 (+9.7%)
2.06
est: 2.22 (-7.1%)
1.73
est: 1.81 (-4.5%)
2.48
2.33 – 2.80
+36.9% YoY
2.94
2.60 – 3.70
+18.5% YoY
3.43
3.10 – 4.56
+16.6% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-11 B 3/5 3/5 3/5 4/5 3/5 2/5 2/5
2026-05-08 B+ 3/5 3/5 3/5 4/5 3/5 2/5 3/5
2026-05-07 B+ 3/5 3/5 3/5 4/5 3/5 2/5 3/5
2026-05-06 B+ 3/5 3/5 3/5 4/5 3/5 2/5 3/5
2026-04-30 B 3/5 3/5 3/5 4/5 2/5 2/5 3/5
2026-04-29 B- 3/5 3/5 3/5 4/5 2/5 1/5 2/5
2026-04-28 B- 3/5 3/5 3/5 4/5 2/5 1/5 2/5
2026-04-27 B- 3/5 3/5 3/5 4/5 2/5 1/5 2/5
2026-04-24 B 3/5 3/5 3/5 5/5 2/5 1/5 2/5
2026-04-23 B 3/5 3/5 3/5 5/5 2/5 1/5 2/5
2026-04-22 B 3/5 3/5 3/5 5/5 2/5 1/5 2/5
2026-04-21 B 3/5 3/5 3/5 5/5 2/5 1/5 2/5
2026-04-20 B 3/5 3/5 3/5 5/5 2/5 1/5 2/5
2026-04-17 B 3/5 3/5 3/5 5/5 2/5 1/5 2/5
2026-04-16 B 3/5 3/5 3/5 5/5 2/5 1/5 2/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
5.76B
OE per share TTM
2.77
Owner's Yield
4.42%
Maintenance CapEx ratio
11.64%
Maint CapEx / Avg PPE
12.8%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 131 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 Global X - MSCI China Consumer Discretionary ETF CHIQ 0.60% 729.3K 0.65%
2 HSBC MSCI China A UCITS ETF HMCT.L 0.31% 416.8K 0.30%
3 Samsung KODEX China CSI300 ETF 283580.KS 0.27% 539.1K 0.12%
4 iShares MSCI China A ETF CNYA 0.21% 492.3K 0.60%
5 Amundi MSCI China A UCITS ETF Acc CNAA.L 0.21% 291.7K 0.35%
6 iShares MSCI China A UCITS ETF CNYA.L 0.20% 6.22M 0.40%
7 iShares MSCI China A UCITS ETF CNYE.MI 0.20% 205.1K 0.45%
8 Xtrackers Harvest CSI300 UCITS ETF 1D ASHR.L 0.20% 630.2K 0.65%
9 Xtrackers MSCI China A UCITS ETF 1C XX2D.L 0.20% 273.7K 0.35%
10 Xtrackers Harvest CSI 300 China A-Shares ETF ASHR 0.20% 2.68M 0.65%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
331.0K
Shares Outstanding
1.95B

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Zhujun Chang Executive Director & President 3M male
Yuehao Wang Director & Deputy GM 389.0K male
Lingjun Zhou Deputy GM, General Counsel & Chief Compliance Officer male
Xiao Zhang Joint Company Secretary female
Fang Sun Deputy General Manager female
Yan Guang Wang Deputy General Manager male
Xujiang Gao Deputy General Manager male
Hongying Yang Chief Accountant, Board Secretary, Joint Company Secretary & General Accountant male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits