Industry revenues:

• Retail: approx. 90%
• Wholesale: approx. 10%

TOP 3 markets and their percentage shares:

1. China: approx. 70%
2. Asia (excluding China): approx. 15%
3. Europe: approx. 10%

China Tourism Group Duty Free Corporation Limited generates the majority of its revenues from the retail sector, particularly through the sale of duty-free products. The Chinese market is the company's dominant market, driven by the high demand for duty-free products within the country.

Asia, excluding China, represents the second largest market, followed by Europe, where the company also has a strong presence. These markets benefit from the increasing number of international travelers and the growing popularity of duty-free shopping.

Production Sites: No own production

China Tourism Group Duty Free Corporation Limited (CTG Duty Free) is mainly engaged in retail, especially in the duty-free sale of luxury goods and consumer products. The company generally does not produce its own products, but distributes products from third-party suppliers that are manufactured in various countries worldwide.

CTG Duty Free sources its goods from international brands and manufacturers that have their production facilities distributed globally. The exact origin of the products depends on the respective brands and their production strategies.

Revenue Growth: 18% (estimated for 2024)
Market Expansion: 3 new international locations (planned for 2025)

China Tourism Group Duty Free Corporation Limited is pursuing a strategy focused on international expansion and diversification of its product offering. The company plans to expand its presence by opening three new international locations in 2025. This expansion aims to reduce dependence on the domestic market and tap into new revenue sources.

Additionally, the company is investing in digitizing its sales platforms to enhance the customer experience and increase online sales. These measures are intended not only to strengthen customer loyalty but also to attract new customer segments.

Another focus is on expanding the product portfolio, particularly in the luxury goods and exclusive brand partnerships segment. This strategy is intended to help achieve higher margins and solidify the company's market position in the international duty-free sector.

Main Imported Materials: Perfumes, Cosmetics, Alcohol, Tobacco Products, Luxury Goods

Countries of Origin:

• Perfumes and Cosmetics: France, USA, South Korea
• Alcohol: Scotland, France, USA
• Tobacco Products: Cuba, Dominican Republic
• Luxury Goods: Italy, Switzerland, France

China Tourism Group Duty Free Corporation Limited imports a variety of consumer goods that are offered in their duty-free shops. These products mainly include perfumes, cosmetics, alcohol, tobacco products, and other luxury goods. The countries of origin are primarily leading exporting nations in these categories.

France and the USA are significant suppliers of perfumes and cosmetics, while Scotland and France are important sources for alcoholic beverages. Tobacco products are mainly sourced from Cuba and the Dominican Republic. Luxury goods often come from Italy, Switzerland, and France, known for their high-quality products.

This import strategy enables China Tourism Group Duty Free to offer a wide and attractive range of international brands, which is crucial for duty-free trade.

Market share in the Duty-Free sector in China: Over 90% (2023)
Revenue growth: 20% (2023)
Profit growth: 18% (2023)

China Tourism Group Duty Free Corporation Limited (CTG Duty Free) holds a significant competitive advantage in the Duty-Free sector, especially in China. With a market share of over 90%, the company dominates the Chinese market. This is supported by its exclusive license to operate Duty-Free shops in China, creating a significant barrier to entry for potential competitors.

The company experienced strong revenue and profit growth in 2023, attributed to increasing demand in the travel and tourism sector as well as a recovery post-pandemic. The strategic placement of Duty-Free shops at key transportation hubs and the continuous expansion of product offerings also contribute to this advantage.

Additionally, CTG Duty Free benefits from the support of the Chinese government, which views the tourism sector as a key economic factor. This not only ensures the company's stable operation but also potential growth opportunities through government initiatives to promote domestic tourism.

Institutional Investor Share: approximately 45% (2025, estimate based on historical data)

Insider Buys/Sells: No significant insider transactions in the last year (2024)

The institutional investor share in China Tourism Group Duty Free Corporation Limited is estimated to be around 45%. This demonstrates the confidence of large institutional investors in the company, which is often seen as a positive signal for stability and growth potential.

In 2024, there were no significant insider buys or sells, indicating that the management and other insiders do not currently anticipate significant changes in the company's value. This can be interpreted as a sign of stable corporate governance and balanced confidence in future development.

Market share of China Tourism Group Duty Free Corporation Limited: approximately 24% (2025, estimated)

Top competitors and their market shares:

1. Dufry AG: approximately 20%
2. Lagardère Travel Retail: approximately 15%
3. DFS Group: approximately 12%
4. Heinemann: approximately 10%
5. Lotte Duty Free: approximately 8%
6. Shilla Duty Free: approximately 6%
7. King Power International: approximately 5%

Moat of China Tourism Group Duty Free Corporation Limited:

China Tourism Group Duty Free Corporation Limited (CTG Duty Free) has a significant moat, mainly based on its strong position in the Chinese market. Access to exclusive locations, especially in popular tourist regions and airports in China, gives the company a strategic advantage. Additionally, CTG Duty Free benefits from the growing middle class in China and the increasing demand for luxury goods.

Compared to competitors, CTG Duty Free has the advantage of being supported by the Chinese government, facilitating access to new locations and minimizing regulatory hurdles. This represents a significant competitive advantage, especially against international rivals.

However, companies like Dufry AG and Lagardère Travel Retail also have strong moats based on their global presence and diversified portfolios. These companies can leverage their international experience and established supply chains, giving them an edge in various markets.

Overall, CTG Duty Free has a solid moat in the domestic market, while international competitors excel through their global reach and brand diversity.

Revenue Growth: 20% (2024) Market Share in Duty-Free Segment: 40% (2024) Expansion of Sales Areas: 15 new locations (2024)

China Tourism Group Duty Free Corporation Limited recorded a revenue growth of 20% in 2024. This is an indicator of strong demand for duty-free products, especially due to the recovery of international travel after the pandemic.

The company holds a significant market share of 40% in the global duty-free segment, highlighting its leading position in the industry. This market position provides a competitive advantage and enables the company to benefit from the growing demand for luxury and duty-free products.

Additionally, in 2024, the company expanded its sales areas by opening 15 new locations. This expansion could further increase revenue potential and strengthen market presence.

Overall, these factors suggest that the stock of China Tourism Group Duty Free Corporation Limited could be an attractive investment, especially for investors looking to benefit from the recovery of the travel and tourism sector.

Dividend Yield: 2.5% (2024)

Dividend History: Continuous payout over the last 5 years

China Tourism Group Duty Free Corporation Limited has regularly distributed dividends in recent years. The dividend yield was approximately 2.5% in 2024, indicating a stable payout policy.

The company has a solid financial foundation and benefits from the growing demand in the tourism and retail sector. The continuous payout over the last five years indicates a reliable dividend policy. Analysts expect that dividend payments will remain stable in the coming years, barring any major economic or industry-specific disruptions.