1. People's Republic of China Stocks

  2. •

    Consumer Cyclical

  3. •

    Specialty Retail
China Tourism Group Duty Free Corporation Limited

China Tourism Group Duty Free Corporation Limited

601888.SS
China Tourism Group Duty Free Corporation LimitedCN flagShanghai Stock Exchange
50.97
CNY
-2.05
- -
99.52BMarket Cap
China Tourism Group Duty Free Corporation Limited
601888.SS
(Shanghai Stock Exchange)

Recent

price

50.97

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
5.51
7.23
9.14
9.5
10.21
10.89
11.47
14.49
24.08
24.9
26.94
34.66
27.35
32.65
27.3
25.95
25.79
Revenue per Share
0.24
0.39
0.57
0.7
0.75
0.77
0.93
1.3
1.58
2.37
3.14
4.94
2.53
3.25
2.06
1.73
1.73
Basic EPS, GAAP
0.16
-0.32
0.55
0.49
0.44
0.45
0.91
1.39
0.58
0.82
3.57
3.16
-3.22
6.44
3.3
2.31
-0.43
Free Cash Flow per Basic Share
0.01
0.06
0.06
0.17
0.2
0.23
0.25
0.5
0.52
0.56
0.72
1.01
1.48
0.86
1.69
1.33
1.12
Dividend per Share
0.98
1.29
1.76
2.28
2.63
3.11
3.74
4.97
5.94
7.61
10.04
13.98
14.83
16.71
17.12
17.56
17.33
Book Value per Share
2.56
2.35
2.95
4.76
5.06
5.51
6.27
7.13
8.48
10.05
11.76
16.17
25.55
27.18
28.12
28.34
28.18
Tangible Book Value per Share
1,743
1,756
1,764
1,836
1,952
1,956
1,952
1,952
1,953
1,952
1,952
1,952
1,990
2,069
2,069
2,069
2,069
Basic Weighted Avg Shares
9,609
12,695
16,134
17,448
19,936
21,292
22,390
28,282
47,007
48,612
52,598
67,676
54,433
67,540
56,474
53,694
53,360
Sales/Revenue/Turnover
6.13
7.52
8.34
9.77
10.28
10.1
11.14
12.39
12.05
14.07
19.06
22.34
15.16
12.3
10.46
10.11
9.55
Operating Margin (%)
54
65
77
69
95
172
157
157
252
296
314
1,278
1,132
897
1,073
883
- -
Depreciation Expense
410
685
1,006
1,295
1,470
1,506
1,808
2,531
3,095
4,632
6,140
9,654
5,030
6,714
4,267
3,586
3,584
Net Income, GAAP
22.42
23.13
24.46
24.13
25
25.56
23.82
23.46
26.25
24.31
24.15
16.46
18.76
15.95
20.91
30.48
21.89
Effective Tax Rate (%)
4.26
5.4
6.23
7.42
7.38
7.07
8.08
8.95
6.58
9.53
11.67
14.26
9.24
9.94
7.56
6.68
6.72
Profit Margin (%)
3,517
3,111
3,977
6,748
7,057
8,169
9,630
11,339
11,812
14,397
14,374
21,406
39,725
43,127
44,991
46,579
45,746
Working Capital
1
- -
- -
- -
- -
- -
- -
3
1
- -
3,459
3,487
4,247
4,273
4,133
4,011
4,020
LT Debt
4,513
5,150
6,194
9,706
10,793
11,892
13,360
15,011
18,584
22,954
26,185
34,791
54,127
59,182
60,948
61,126
61,052
Total Equity
10.12
14.23
16.99
15.76
14.55
13.67
14.56
18.18
23.48
23.17
25.58
31.74
12.33
10.67
6.93
5.58
5.95
Return on Invested Capital (%)
13.31
20.8
24.98
25.7
23.6
20.22
20.99
22.46
18.06
22.78
21.44
21.54
10.1
14.7
8.35
7.72
6.92
Return on Capital (%)
26.92
34.37
37.42
35.55
31.56
26.84
27.02
29.78
29.07
35.01
35.63
41.17
17.71
20.95
12.19
10
10.2
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
1,026
1,384
1,186
LT Borrowings
2,567
3,234
2,896
LT Finance Leases
1,566
2,054
1,123
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,069
2,069
2,069
Market Capitalization
138,640
124,542
126,135

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
55,960
59,775
55,494
Cash, Cash Equivalents & STI
34,817
39,684
33,347
Accounts Receivable, Net
67
269
103
Inventories
17,348
15,751
16,888
Total Current Liabilities
10,969
12,054
9,748
Payables & Accruals
- -
- -
- -
ST Debt
1,026
1,384
1,186
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
18.72%
20.21%
0.29%
Free Cash Flow
-13.2%
-120.34%
-29.83%
Net Income, GAAP
15.49%
-1.92%
-15.96%
Sales/Revenue/Turnover
12.12%
2.38%
-4.92%
Total Cash Common Dividend
27.25%
24.97%
-21.56%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
18,807
12,458
11,756
13,453
56,474
2025
16,746
11,405
13,831
- -
53,694
2026
16,906
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.11
- -
- -
- -
2.06
2025
0.94
- -
- -
- -
1.73
2026
1.14
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
- -
- -
- -
1.69
2025
0.01
- -
- -
- -
1.33
2026
0.01
- -
- -
- -
- -
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Business
China Tourism Group Duty Free Corporation Limited (601888.SS) is a leading Chinese operator in the duty-free travel retail sector, primarily engaged in the wholesale and retail of duty-free commodities including tobacco and wine, perfume and cosmetics, fine goods and accessories, clothing, watches and jewelry, and electronic products; it also invests in and develops commercial complexes. Founded in 2008 and headquartered in Beijing, the company operates as a subsidiary of China Tourism Group Co., Ltd., with over 200 retail stores encompassing airport outlets, downtown duty-free shops particularly in Hainan Province, border stores, and international locations in Hong Kong, Macau, Taiwan, and Cambodia, serving tourists, business travelers, and urban consumers across China and select overseas markets. The company offers nine major duty-free categories through more than 1,500 brands, including specialized operations like the "Lile Lang" luxury boutiques in airports such as Guangzhou, Hangzhou, and Shenzhen, alongside a growing "duty-free+" model integrating culture, commerce, sports, tourism, and health experiences. In recent developments, it changed its name from China International Travel Service Corporation Limited in June 2020 to emphasize its duty-free focus; expanded downtown duty-free operations with new store openings in 2025 including Tianjin and Xi'an city stores, won bids for Guangzhou Baiyun Airport T3 outbound and additional border stores, added approximately 200 new domestic and international brands plus over 100 exclusive items in 2024-2025, partnered with Travel Blue for expanded distribution in island and airport stores, and formed a 50-50 joint venture with Swire Properties in 2022 for a premium retail project in Sanya's Haitang Bay. These initiatives, coupled with digital transformation efforts boosting online sales and wellness product lines like "CDF Health," support targeted growth in airport, downtown, and integrated tourism retail amid China's evolving consumption policies.