Orient Securities Company Limited(600958) on January 28, the research report said that the overweight rating of China Tourism Group Duty Free Corporation Limited(601888) (601888. SH) was maintained. The reasons for rating mainly include: 1) the impact of the epidemic is still significant, the provision of superimposed expenses is or exceeds expectations, and Q4 performance is under pressure; 2) Tax free sales on outlying islands remain high. If the epidemic situation improves, the recovery of passenger flow will bring greater flexibility; 3) The recent contraction of discount intensity is conducive to the recovery of 22q1 gross profit margin, and the long-term growth space and competitiveness remain unchanged. Risk warning: the epidemic spread in China exceeded expectations; Industry competition intensifies; Weak consumption power of residents; Risk of supply shortage of brand party, etc.
AI comments: China Tourism Group Duty Free Corporation Limited(601888) has received 21 research reports from securities companies in recent months, including 12 purchases, 1 increase in holdings, and 3 strongly recommended. The average target price is 252.21 yuan.
