China Tourism Group Duty Free (601888) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was RMB 56.49 billion, down 16.36% year-over-year; net profit attributable to shareholders was RMB 4.26 billion, down 36.50% year-over-year.

• Company focused on market expansion, cost control, and digital transformation, with notable growth in airport and overseas duty-free channels.

Financial highlights

• Operating income decreased 16.36% year-over-year to RMB 56.49 billion.

• Operating profit fell 28.94% to RMB 6.17 billion; net profit attributable to shareholders dropped 36.50% to RMB 4.26 billion.

• Basic EPS was RMB 2.0605, down over 30% year-over-year.

• Total assets at year-end were RMB 76.73 billion, down 2.71% from the start of the year.

Outlook and guidance

• Plans to leverage national policies to boost consumption and expand domestic demand, focusing on core business and high-quality growth.