China Tourism Group Duty Free Corp Ltd
SSE:601888

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China Tourism Group Duty Free Corp Ltd Logo
China Tourism Group Duty Free Corp Ltd
SSE:601888
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Price: 82.83 CNY 3.23% Market Closed
Market Cap: 171.4B CNY
Financials Section:
Income Statement Balance Sheet Cash Flow Statement

Income Statement

Revenue
+
3Y
-7%
5Y
+11%
10Y
+152%
Operating Income
+
3Y
-48%
5Y
-11%
10Y
+98%
Net Income
+
3Y
-41%
5Y
-8%
10Y
+113%

Earnings Waterfall
China Tourism Group Duty Free Corp Ltd

Revenue
53.3B CNY
Cost of Revenue
-37.7B CNY
Gross Profit
15.6B CNY
Operating Expenses
-11.2B CNY
Operating Income
4.4B CNY
Other Expenses
-983.5m CNY
Net Income
3.4B CNY

Income Statement
China Tourism Group Duty Free Corp Ltd

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Income Statement
Currency: CNY
Jun-2009 Sep-2009 Dec-2009 Mar-2010 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011 Sep-2011 Dec-2011 Mar-2012 Jun-2012 Sep-2012 Dec-2012 Mar-2013 Jun-2013 Sep-2013 Dec-2013 Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025 Sep-2025
Revenue
Interest Expense
0
0
15
0
0
0
15
0
0
0
21
0
0
0
11
0
0
0
6
0
0
0
6
0
0
0
6
0
0
0
5
0
0
0
5
0
0
1
6
7
12
11
13
15
0
14
17
63
118
168
222
228
226
210
194
199
244
250
298
304
235
242
203
197
0
0
Revenue
5 601
N/A
5 731
+2%
6 065
+6%
6 635
+9%
7 428
+12%
8 799
+18%
9 609
+9%
10 120
+5%
10 697
+6%
11 620
+9%
12 695
+9%
13 786
+9%
14 550
+6%
15 151
+4%
16 134
+6%
16 749
+4%
17 071
+2%
17 300
+1%
17 448
+1%
17 912
+3%
18 551
+4%
19 335
+4%
19 936
+3%
20 528
+3%
21 003
+2%
21 195
+1%
21 292
+0%
21 527
+1%
21 539
+0%
21 943
+2%
22 390
+2%
22 941
+2%
24 695
+8%
26 689
+8%
28 282
+6%
31 351
+11%
36 800
+17%
41 640
+13%
47 007
+13%
51 851
+10%
50 687
-2%
49 061
-3%
48 612
-1%
42 893
-12%
43 494
+1%
47 932
+10%
52 597
+10%
63 094
+20%
68 813
+9%
66 957
-3%
67 676
+1%
66 324
-2%
59 800
-10%
57 541
-4%
54 433
-5%
58 420
+7%
62 641
+7%
65 905
+5%
67 540
+2%
65 578
-3%
62 947
-4%
59 724
-5%
56 474
-5%
54 413
-4%
53 360
-2%
53 315
0%
Gross Profit
Cost of Revenue
(4 344)
(4 452)
(4 743)
(5 226)
(5 952)
(7 163)
(7 868)
(8 278)
(8 670)
(9 401)
(10 168)
(10 909)
(11 538)
(12 008)
(12 717)
(13 180)
(13 359)
(13 449)
(13 361)
(13 753)
(14 303)
(14 962)
(15 256)
(15 773)
(16 062)
(16 192)
(16 166)
(16 533)
(16 520)
(16 873)
(16 874)
(17 475)
(18 511)
(19 607)
(19 827)
(21 547)
(23 824)
(25 524)
(27 721)
(29 844)
(27 778)
(25 583)
(24 018)
(21 990)
(23 798)
(28 132)
(32 129)
(39 345)
(43 783)
(43 818)
(45 381)
(46 729)
(42 805)
(41 886)
(39 573)
(43 941)
(47 011)
(48 140)
(46 688)
(45 393)
(43 392)
(41 479)
(39 137)
(38 297)
(37 754)
(37 731)
Gross Profit
1 257
N/A
1 279
+2%
1 321
+3%
1 409
+7%
1 477
+5%
1 637
+11%
1 741
+6%
1 843
+6%
2 028
+10%
2 220
+9%
2 527
+14%
2 878
+14%
3 012
+5%
3 143
+4%
3 416
+9%
3 570
+5%
3 714
+4%
3 853
+4%
4 087
+6%
4 161
+2%
4 249
+2%
4 374
+3%
4 680
+7%
4 755
+2%
4 940
+4%
5 002
+1%
5 126
+2%
4 992
-3%
5 017
+1%
5 068
+1%
5 516
+9%
5 466
-1%
6 184
+13%
7 082
+15%
8 455
+19%
9 803
+16%
12 976
+32%
16 116
+24%
19 286
+20%
22 007
+14%
22 908
+4%
23 476
+2%
24 595
+5%
20 900
-15%
19 694
-6%
19 799
+1%
20 468
+3%
23 748
+16%
25 029
+5%
23 138
-8%
22 294
-4%
19 595
-12%
16 995
-13%
15 655
-8%
14 860
-5%
14 479
-3%
15 630
+8%
17 766
+14%
20 852
+17%
20 185
-3%
19 554
-3%
18 245
-7%
17 337
-5%
16 116
-7%
15 605
-3%
15 585
0%
Operating Income
Operating Expenses
(843)
(859)
(844)
(879)
(933)
(1 012)
(1 160)
(1 246)
(1 320)
(1 410)
(1 591)
(1 644)
(1 745)
(1 900)
(2 129)
(2 103)
(2 133)
(2 147)
(2 431)
(2 365)
(2 403)
(2 460)
(2 679)
(2 569)
(2 693)
(2 786)
(2 993)
(2 729)
(2 723)
(2 727)
(3 059)
(2 935)
(3 441)
(3 965)
(4 964)
(5 685)
(8 179)
(10 715)
(14 077)
(14 868)
(15 443)
(15 950)
(18 210)
(17 237)
(16 052)
(14 882)
(11 558)
(9 582)
(8 583)
(4 612)
(7 942)
(6 074)
(5 143)
(7 286)
(7 336)
(7 356)
(9 140)
(11 316)
(13 349)
(12 582)
(12 438)
(11 753)
(12 250)
(11 311)
(11 159)
(11 201)
Selling, General & Administrative
(829)
(851)
(830)
(867)
(921)
(1 000)
(1 152)
(1 247)
(1 321)
(1 411)
(1 572)
(1 641)
(1 742)
(1 871)
(1 986)
(2 070)
(2 100)
(2 139)
(2 276)
(2 346)
(2 377)
(2 441)
(2 517)
(2 549)
(2 675)
(2 793)
(2 783)
(2 772)
(2 766)
(2 767)
(2 895)
(2 904)
(3 416)
(3 969)
(4 752)
(5 790)
(8 281)
(10 759)
(13 686)
(15 479)
(16 007)
(16 497)
(17 643)
(16 832)
(15 740)
(14 559)
(11 075)
(9 067)
(7 992)
(4 078)
(7 393)
(5 822)
(4 704)
(6 763)
(6 791)
(6 837)
(8 764)
(10 740)
(11 970)
(12 022)
(11 927)
(11 362)
(10 968)
(10 779)
(10 591)
(10 615)
Research & Development
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(39)
(40)
(40)
(49)
(58)
(58)
(59)
(57)
(20)
(32)
(57)
(79)
Depreciation & Amortization
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(119)
0
0
0
(125)
0
0
0
(143)
0
0
0
(213)
0
0
0
(213)
0
0
0
(217)
0
0
0
(268)
0
0
0
(438)
0
0
0
(474)
0
0
0
(1 434)
0
0
0
(1 383)
0
0
0
(1 300)
0
0
0
(1 339)
0
0
0
Other Operating Expenses
(15)
(8)
(15)
(11)
(11)
(11)
(8)
1
2
2
(19)
(2)
(4)
(30)
(24)
(35)
(34)
(10)
(30)
(19)
(27)
(20)
(19)
(22)
(18)
8
3
44
43
40
49
(31)
(24)
5
5
106
102
43
(122)
609
564
548
(130)
(403)
(311)
(321)
(9)
(514)
(590)
(534)
885
(252)
(438)
(523)
878
(479)
(336)
(527)
(20)
(502)
(452)
(334)
77
(500)
(510)
(508)
Operating Income
414
N/A
420
+1%
477
+14%
530
+11%
543
+2%
624
+15%
581
-7%
596
+3%
708
+19%
810
+14%
935
+15%
1 234
+32%
1 267
+3%
1 243
-2%
1 288
+4%
1 466
+14%
1 579
+8%
1 704
+8%
1 657
-3%
1 796
+8%
1 847
+3%
1 914
+4%
2 001
+5%
2 186
+9%
2 248
+3%
2 218
-1%
2 133
-4%
2 265
+6%
2 296
+1%
2 342
+2%
2 457
+5%
2 530
+3%
2 742
+8%
3 117
+14%
3 491
+12%
4 120
+18%
4 798
+16%
5 402
+13%
5 209
-4%
7 139
+37%
7 466
+5%
7 528
+1%
6 384
-15%
3 667
-43%
3 645
-1%
4 919
+35%
8 910
+81%
14 167
+59%
16 447
+16%
18 527
+13%
14 352
-23%
13 521
-6%
11 852
-12%
8 369
-29%
7 525
-10%
7 123
-5%
6 490
-9%
6 450
-1%
7 503
+16%
7 603
+1%
7 116
-6%
6 491
-9%
5 087
-22%
4 805
-6%
4 447
-7%
4 383
-1%
Pre-Tax Income
Interest Income Expense
48
49
71
83
89
95
129
129
135
153
146
139
134
130
160
172
180
205
228
171
174
138
201
173
167
162
163
111
123
156
193
174
217
253
339
350
201
61
216
(24)
5
3
234
17
24
298
784
530
574
374
451
325
(268)
(327)
86
140
778
1 062
1 136
782
1 077
1 011
1 066
958
882
765
Non-Reccuring Items
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
9
0
0
0
0
0
0
0
0
0
0
0
(1)
0
0
0
23
1
1
2
1
0
1
0
738
0
0
0
0
0
1
1
1
2
2
3
9
8
7
8
38
47
64
62
26
25
24
57
Gain/Loss on Disposition of Assets
0
0
0
0
0
0
0
0
0
0
(1)
0
0
0
(3)
0
0
0
0
0
0
0
0
(1)
(1)
(1)
1
1
1
1
0
0
0
0
(1)
0
(3)
0
(2)
0
0
0
(1)
0
0
0
0
0
0
0
(0)
0
0
0
(0)
0
0
0
(20)
0
0
0
(0)
0
0
0
Total Other Income
3
15
1
1
(2)
(2)
6
4
5
6
6
6
23
27
118
139
138
139
63
41
26
32
25
24
24
21
16
20
23
20
22
20
34
40
(19)
(19)
(30)
(44)
(88)
(95)
(38)
(48)
52
41
(32)
(25)
(22)
(8)
7
(8)
(3)
(6)
(10)
(3)
(3)
(2)
(0)
8
(12)
(33)
(32)
(45)
(30)
(31)
(76)
(86)
Pre-Tax Income
465
N/A
484
+4%
550
+14%
615
+12%
632
+3%
719
+14%
715
-1%
730
+2%
848
+16%
969
+14%
1 087
+12%
1 380
+27%
1 425
+3%
1 402
-2%
1 563
+11%
1 778
+14%
1 899
+7%
2 049
+8%
1 957
-4%
2 008
+3%
2 046
+2%
2 084
+2%
2 227
+7%
2 383
+7%
2 439
+2%
2 400
-2%
2 313
-4%
2 397
+4%
2 443
+2%
2 519
+3%
2 671
+6%
2 724
+2%
2 993
+10%
3 410
+14%
3 834
+12%
4 452
+16%
4 965
+12%
5 421
+9%
5 336
-2%
7 020
+32%
7 434
+6%
7 483
+1%
7 407
-1%
3 724
-50%
3 636
-2%
5 192
+43%
9 672
+86%
14 690
+52%
17 031
+16%
18 894
+11%
14 801
-22%
13 842
-6%
11 577
-16%
8 042
-31%
7 617
-5%
7 269
-5%
7 275
+0%
7 528
+3%
8 646
+15%
8 399
-3%
8 226
-2%
7 520
-9%
6 148
-18%
5 757
-6%
5 277
-8%
5 119
-3%
Net Income
Tax Provision
(104)
(107)
(114)
(119)
(128)
(151)
(160)
(167)
(181)
(209)
(251)
(331)
(346)
(333)
(382)
(416)
(465)
(505)
(472)
(492)
(513)
(520)
(557)
(594)
(587)
(584)
(591)
(614)
(617)
(642)
(636)
(641)
(710)
(797)
(900)
(1 054)
(1 210)
(1 325)
(1 401)
(1 764)
(1 834)
(1 886)
(1 801)
(1 011)
(1 044)
(1 291)
(2 335)
(3 472)
(3 970)
(3 571)
(2 437)
(1 967)
(1 203)
(1 319)
(1 429)
(1 532)
(1 506)
(1 437)
(1 379)
(1 164)
(1 407)
(1 366)
(1 286)
(1 274)
(1 155)
(1 104)
Income from Continuing Operations
361
378
436
497
505
568
555
564
668
761
835
1 048
1 078
1 068
1 180
1 361
1 433
1 542
1 485
1 515
1 532
1 564
1 670
1 790
1 853
1 817
1 721
1 783
1 826
1 877
2 035
2 083
2 283
2 613
2 935
3 398
3 755
4 096
3 935
5 258
5 603
5 600
5 607
2 715
2 593
3 901
7 337
11 218
13 061
15 324
12 365
11 875
10 374
6 723
6 188
5 738
5 769
6 090
7 266
7 235
6 819
6 154
4 862
4 483
4 122
4 015
Income to Minority Interest
(125)
(131)
(123)
(136)
(131)
(137)
(145)
(146)
(155)
(157)
(150)
(144)
(155)
(162)
(175)
(195)
(191)
(189)
(190)
(183)
(191)
(202)
(200)
(206)
(216)
(220)
(216)
(226)
(230)
(229)
(227)
(253)
(281)
(357)
(404)
(426)
(606)
(769)
(840)
(1 017)
(1 135)
(994)
(975)
(410)
(223)
(221)
(1 197)
(2 108)
(2 493)
(3 858)
(2 711)
(2 508)
(2 142)
(932)
(1 158)
(970)
(810)
(482)
(553)
(516)
(688)
(727)
(595)
(585)
(538)
(615)
Net Income (Common)
236
N/A
247
+5%
313
+27%
361
+15%
374
+4%
431
+15%
410
-5%
418
+2%
513
+23%
603
+18%
685
+14%
903
+32%
923
+2%
907
-2%
1 006
+11%
1 167
+16%
1 242
+6%
1 353
+9%
1 295
-4%
1 332
+3%
1 341
+1%
1 362
+2%
1 470
+8%
1 584
+8%
1 636
+3%
1 596
-2%
1 506
-6%
1 556
+3%
1 596
+3%
1 648
+3%
1 808
+10%
1 829
+1%
2 001
+9%
2 255
+13%
2 531
+12%
2 973
+17%
3 150
+6%
3 328
+6%
3 095
-7%
4 241
+37%
4 468
+5%
4 605
+3%
4 632
+1%
2 304
-50%
2 369
+3%
3 680
+55%
6 140
+67%
9 110
+48%
10 568
+16%
11 466
+8%
9 654
-16%
9 367
-3%
8 233
-12%
5 791
-30%
5 030
-13%
4 768
-5%
4 958
+4%
5 609
+13%
6 714
+20%
6 719
+0%
6 131
-9%
5 427
-11%
4 267
-21%
3 899
-9%
3 584
-8%
3 400
-5%
EPS (Diluted)
0.18
N/A
0.19
+6%
0.22
+16%
0.2
-9%
0.23
+15%
0.25
+9%
0.23
-8%
0.25
+9%
0.3
+20%
0.35
+17%
0.39
+11%
0.51
+31%
0.52
+2%
0.51
-2%
0.57
+12%
0.66
+16%
0.71
+8%
0.71
N/A
0.7
-1%
0.68
-3%
0.69
+1%
0.69
N/A
0.75
+9%
0.8
+7%
0.83
+4%
0.81
-2%
0.77
-5%
0.8
+4%
0.82
+2%
0.85
+4%
0.93
+9%
0.94
+1%
1.03
+10%
1.16
+13%
1.3
+12%
1.52
+17%
1.61
+6%
1.7
+6%
1.59
-6%
2.17
+36%
2.28
+5%
2.35
+3%
2.37
+1%
1.17
-51%
1.21
+3%
1.88
+55%
3.14
+67%
4.66
+48%
5.41
+16%
5.87
+9%
4.94
-16%
4.8
-3%
4.22
-12%
2.91
-31%
2.53
-13%
2.3
-9%
2.41
+5%
2.71
+12%
3.25
+20%
3.25
N/A
2.96
-9%
2.62
-11%
2.06
-21%
1.88
-9%
1.73
-8%
1.64
-5%

See Also

Summary
Intrinsic value, competitors valuation, and company profile.
DCF Valuation
Stock valuation using Discount Cash Flow valuation method.
Relative Valuation
Stock valuation using valuation multiples.
Wall Street Estimates
Price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
Stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
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