China Tourism Group Duty Free's Earnings Could Rebound -- Market Talk

Dow Jones03-23

0344 GMT - China Tourism Group Duty Free's earnings could rebound in 2026, say Citi analysts led by Lydia Ling in a note. The company's 2025 net profit fell 16% but its 4Q preliminary net profit excluding goodwill impairment losses were largely in line with estimates, they note. Gross margins were also ahead of expectations, widening by 4.12 percentage points on year in 4Q, they add. The analysts remain upbeat on duty-free growth prospects in Hainan, China, given favorable policies. They point to optimized product categories, which could drive up earnings this year. Citi retains its buy rating and target price of 106.00 yuan. Its Shanghai-listed shares fall 1.3% to 71.29 yuan, while its Hong Kong-listed shares are 3.45% lower at HK$67.10. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

March 22, 2026 23:44 ET (03:44 GMT)

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The analysts remain upbeat on duty-free growth prospects in Hainan, China, given favorable policies. They point to optimized product categories, which could drive up earnings this year. Citi retains its buy rating and target price of 106.00 yuan. Its Shanghai-listed shares fall 1.3% to 71.29 yuan, while its Hong Kong-listed shares are 3.45% lower at HK$67.10. (megan.cheah@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 22, 2026 23:44 ET (03:44 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China Tourism Group Duty Free's Earnings Could Rebound -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina Tourism Group Duty Free's Earnings Could Rebound -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-03-23 11:44</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0344 GMT - <a href=\"https://laohu8.com/S/CTGCY\">China Tourism</a> Group Duty Free's earnings could rebound in 2026, say Citi analysts led by Lydia Ling in a note. The company's 2025 net profit fell 16% but its 4Q preliminary net profit excluding goodwill impairment losses were largely in line with estimates, they note. Gross margins were also ahead of expectations, widening by 4.12 percentage points on year in 4Q, they add. The analysts remain upbeat on duty-free growth prospects in Hainan, China, given favorable policies. They point to optimized product categories, which could drive up earnings this year. Citi retains its buy rating and target price of 106.00 yuan. Its Shanghai-listed shares fall 1.3% to 71.29 yuan, while its Hong Kong-listed shares are 3.45% lower at HK$67.10. (megan.cheah@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 22, 2026 23:44 ET (03:44 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK0175","symbol_name":"白马股","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2621726052","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2621726052","pubTimestamp":1774237440,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0344 GMT - China Tourism Group Duty Free's earnings could rebound in 2026, say Citi analysts led by Lydia Ling in a note. The company's 2025 net profit fell 16% but its 4Q preliminary net profit excluding goodwill impairment losses were largely in line with estimates, they note. Gross margins were also ahead of expectations, widening by 4.12 percentage points on year in 4Q, they add. The analysts remain upbeat on duty-free growth prospects in Hainan, China, given favorable policies. They point to optimized product categories, which could drive up earnings this year. Citi retains its buy rating and target price of 106.00 yuan. Its Shanghai-listed shares fall 1.3% to 71.29 yuan, while its Hong Kong-listed shares are 3.45% lower at HK$67.10. 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The company's 2025 net profit fell 16% but its 4Q preliminary net profit excluding goodwill impairment losses were largely in line with estimates, they note. Gross margins were also ahead of expectations, widening by 4.12 percentage points on year in 4Q, they add. The analysts remain upbeat on duty-free growth prospects in Hainan, China, given favorable policies. They point to optimized product categories, which could drive up earnings this year. Citi retains its buy rating and target price of 106.00 yuan. Its Shanghai-listed shares fall 1.3% to 71.29 yuan, while its Hong Kong-listed shares are 3.45% lower at HK$67.10. 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