According to the Zhitong Finance APP, Citigroup released a research report stating that due to weak consumer sentiment, China Tourism Group Duty Free Corporation (01880) will continue to face sales pressure in the fourth quarter. The bank has lowered the target price of China Tourism Group Duty Free Corporation from 78 Hong Kong dollars to 75 Hong Kong dollars and maintained a "buy" rating.

The report indicated that the company's performance in the third quarter of this year is in line with the previously disclosed preliminary performance guidance. The firm has revised down its earnings forecasts for 2024 to 2026 by 17.1%, 13.2%, and 10.2% respectively to reflect the weak duty-free sales trend in Hainan. Weak consumer desire, reduced traffic due to outbound travel restrictions and unfavorable weather conditions all pose pressure on the sales trend in Hainan, leading to a decrease in operational leverage of the Hainan business.