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China Tourism Group Duty Free Corporation Limited Class H
(1880)
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Rating:55Neutral
Price Target:
HK$44.00
▼(-10.50% Downside)
Action:Reiterated
Date:10/31/26
The score is driven primarily by steady but cooling financial performance (low leverage and positive cash flow, offset by flat-to-down revenue, lower margins vs. peak years, and weaker free cash flow trend). Technicals meaningfully drag the result due to a clear downtrend across moving averages and negative MACD. Valuation is a secondary headwind, with a relatively high P/E and only a modest dividend yield.
Positive Factors
Conservative leverage
Conservative leverage gives the company financial resilience and preserves capacity to fund operations or strategic investment. With debt modest relative to equity, interest and refinancing pressures appear manageable, supporting stability through demand fluctuations over the next several quarters.
Negative Factors
Flat-to-declining revenue
A flat-to-declining revenue base signals that demand momentum has weakened after earlier growth and may limit operating leverage. Without renewed sales expansion, the company has less scope to spread fixed costs, grow earnings consistently, or fund broader strategic initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative leverage
Conservative leverage gives the company financial resilience and preserves capacity to fund operations or strategic investment. With debt modest relative to equity, interest and refinancing pressures appear manageable, supporting stability through demand fluctuations over the next several quarters.
Read all positive factors
China Tourism Group Duty Free Corporation Limited Class H (1880) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$115.76B
Dividend Yield1.87%
Average Volume (3M)507.64K
Price to Earnings (P/E)28.3
Beta (1Y)0.49
Revenue Growth3.57%
EPS Growth29.81%
CountryHK
Employees14,485
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)2.03
Shares Outstanding125,321,100
10 Day Avg. Volume616,036
30 Day Avg. Volume507,640
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$66.62Price Target Upside35.51% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)2.62
Revenue Forecast (FY)HK$63.24B
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...
China Tourism Group Duty Free Corporation Limited Class H Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
74
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 52.45B | 53.69B | 56.47B | 67.54B | 54.43B | 67.68B |
| Gross Profit | 17.29B | 17.58B | 18.09B | 21.49B | 15.45B | 22.79B |
| EBITDA | 5.61B | 6.79B | 6.56B | 9.84B | 8.94B | 16.30B |
| Net Income | 4.20B | 3.59B | 4.27B | 6.71B | 5.03B | 9.65B |
Balance Sheet | ||||||
| Total Assets | 85.97B | 74.98B | 76.26B | 78.87B | 75.91B | 55.47B |
| Cash, Cash Equivalents and Short-Term Investments | 23.40B | 33.78B | 34.82B | 33.39B | 26.89B | 16.86B |
| Total Debt | 10.47B | 4.24B | 4.37B | 4.64B | 6.18B | 3.90B |
| Total Liabilities | 22.45B | 13.86B | 15.31B | 19.77B | 21.78B | 20.68B |
| Stockholders Equity | 57.69B | 55.47B | 55.10B | 53.83B | 48.59B | 29.62B |
Cash Flow | ||||||
| Free Cash Flow | 3.62B | 4.79B | 6.82B | 13.32B | -6.41B | 6.17B |
| Operating Cash Flow | 4.84B | 6.06B | 7.94B | 15.13B | -3.42B | 8.33B |
| Investing Cash Flow | -11.38B | -3.48B | -454.30M | -4.72B | -3.81B | -2.32B |
| Financing Cash Flow | -2.23B | -3.18B | -4.37B | -4.63B | 15.45B | -3.82B |
China Tourism Group Duty Free Corporation Limited Class H Technical Analysis
Negative
49.16
Price Trends
46.08
Negative
48.28
Negative
60.14
Negative
Market Momentum
-1.15
Negative
38.97
Neutral
39.77
Neutral
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 49.16 is above the 20-day moving average (MA) of 43.56, above the 50-day MA of 46.08, and below the 200-day MA of 60.14, indicating a bearish trend. The MACD of -1.15 indicates Negative momentum. The RSI at 38.97 is Neutral, neither overbought nor oversold. The STOCH value of 39.77 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$4.05B | 19.92 | 16.40% | 2.06% | 11.19% | 160.48% | |
69 Neutral | HK$1.21B | 5.64 | 31.59% | 3.46% | 31.51% | 22.05% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | HK$115.76B | 28.27 | 6.50% | 1.87% | 3.57% | 29.81% | |
50 Neutral | HK$24.06B | 17.16 | 14.11% | 6.58% | 30.79% | -44.14% | |
44 Neutral | HK$63.52M | 0.49 | 6.58% | 0.03% | 52.42% | ― | |
41 Neutral | HK$758.47M | -0.08 | 21.77% | 3.96% | -28.44% | 42.64% |
* Consumer Cyclical Sector Average
HK:1880
China Tourism Group Duty Free Corporation Limited Class H
42.44
-24.19
-36.30%
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0.95
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-39.95%
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-50.80%
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China Tourism Group Duty Free Corporation Limited Class H Corporate Events
China Tourism Group Duty Free Declares Third-Quarter Cash Dividend for 2026
Oct 30, 2026
China Tourism Group Duty Free Corporation Limited has declared an ordinary third-quarter cash dividend of RMB 0.4 per share for the nine months ended September 30, 2026, with the financial year ending December 31, 2026. For H shareholders, the div...
China Tourism Group Duty Free Posts Higher Profits Despite Softer Revenue and Cash Flow Strain
Oct 30, 2026
China Tourism Group Duty Free Corporation Limited reported unaudited results for the third quarter of 2026, showing a mixed top-line and bottom-line performance. Operating income for the quarter fell 4.66% year-on-year to RMB 11.17 billion, while ...
China Tourism Group Duty Free Sets Interim 2026 Dividend Plan
Oct 30, 2026
China Tourism Group Duty Free Corporation Limited has approved a profit distribution plan for the first three quarters of 2026, reflecting its current operating conditions and future strategic development needs. The board has opted for a cash divi...
China Tourism Duty Free Sets Board Meeting to Approve Q3 Results and Consider Interim Dividend
Oct 20, 2026
China Tourism Group Duty Free Corporation Limited has scheduled a board meeting for October 30, 2026, to review and approve its third-quarter results for the nine months ended September 30, 2026. The board will also consider recommending an interi...
China Tourism Group Duty Free Releases Unaudited Interim Results for First Half of 2026
Aug 20, 2026
China Tourism Group Duty Free Corporation Limited is a leading duty-free retailer in China, serving domestic and international travelers through duty-free stores tied to tourism and travel flows. The Hong Kong-listed company operates under Chinese...
China Tourism Group Duty Free Revamps Company Secretarial Team and Secures New HKEX Waiver
Aug 20, 2026
China Tourism Group Duty Free Corporation Limited announced that joint company secretary, authorized representative and Hong Kong process agent Ms. Zhang Xiao will step down effective August 20, 2026, with no disputes reported with the board. She ...
China Tourism Group Duty Free Sets Board Meeting to Approve 2026 Interim Results
Aug 10, 2026
China Tourism Group Duty Free Corporation Limited has scheduled a board meeting for August 20, 2026, to review and approve the interim results for the first half of 2026. The board will also consider the publication of these results and other reso...
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.