601888 (China Tourism Group Duty Free Corp Ltd) vs Shanghai Composite Comparison

601888

Shanghai Composite

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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601888

Shanghai Composite

Difference

1Y 3Y 5Y 10Y 15Y 20Y

601888

Shanghai Composite

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Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

Select Stock to Compare

Shanghai Composite

601888

TSCO

ULTA

DKS

9992

Add Stock

1Y 3Y 5Y 10Y 15Y 20Y

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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China Tourism Group Duty Free Corp Ltd
Glance View

Market Cap

124.1B CNY

Industry

Retail

China Tourism Group Duty Free Corp Ltd, often regarded as the crown jewel of China's burgeoning travel retail sector, operates as a commanding player in the global duty-free landscape. This company, with roots tracing back to 1984, has capitalized on the surge in both domestic and international travel among Chinese consumers. Its primary business model revolves around selling luxury goods, cosmetics, and other premium retail items to travelers devoid of import duties and taxes. This is achieved by strategically situating its stores in airports, coastal cities, and designated economic tourism zones, catering to a consumer base eager for authentic luxury products at competitive prices. Standing at the intersection of travel and retail, the company's unique positioning allows it to tap into the rising spending power of China's middle and affluent classes. With an astute focus on the burgeoning demand for imported luxury items, China Tourism Group Duty Free Corp has expanded its reach beyond mere brick-and-mortar stores. It increasingly leverages online platforms, capitalizing on digital trends to enhance customer engagement through personalized shopping experiences and loyalty programs. Revenue is driven predominantly through high-volume sales at key transport hubs, where locals and tourists alike seek desirable goods without the burden of domestic taxes, positioning the company as a staple in the luxurious yet accessible world of duty-free shopping.

View China Tourism Group Duty Free Corp Ltd Analysis

Intrinsic Value

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

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601888

vs

Shanghai Composite

Stocks Performance
601888 vs Shanghai Composite

Performance Gap
601888 vs Shanghai Composite

Performance By Year
601888 vs Shanghai Composite

Competitors Performance
China Tourism Group Duty Free Corp Ltd vs Peers

China Tourism Group Duty Free Corp Ltd
Glance View

Company

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601888 vs Shanghai Composite

Stocks Performance 601888 vs Shanghai Composite

Performance Gap 601888 vs Shanghai Composite

Performance By Year 601888 vs Shanghai Composite

Competitors Performance China Tourism Group Duty Free Corp Ltd vs Peers

China Tourism Group Duty Free Corp Ltd Glance View

Company

Help

Tools

Stocks

601888

vs

Shanghai Composite

Stocks Performance
601888 vs Shanghai Composite

Performance Gap
601888 vs Shanghai Composite

Performance By Year
601888 vs Shanghai Composite

Competitors Performance
China Tourism Group Duty Free Corp Ltd vs Peers

China Tourism Group Duty Free Corp Ltd
Glance View