China Tourism Group Duty Free_ Risk Reward Update

本文档仅供上海信鱼私募基金管理有限公司18860455898研究使用，请勿外传 January 7, 2025 02:31 PM GMT China Tourism Group Duty Free | Asia Pacific Risk Reward Update What's Changed China Tourism Group Duty Free (1880.HK) From To Price Target HK$60.00 HK$55.00 Base Case HK$60.00 HK$55.00 Updated Components EPS Investment Thesis Bull Base Bear Scenarios Risk Reward for China Tourism Group Duty Free (1880.HK) has been updated. Reason for change In 2024, Hainan was the major drag on China's travel retail market with offline duty- free (DF) sal ...