Results highlights:
- Consolidated revenue was HK$4,627 million (YOY increase of 3%). Profit attributable to operation was HK$307 million (YOY increase of 8%).
- Profit attributable to shareholders was HK$106 million, a decrease mainly attributable to the decrease in fair value of investment properties.
- The Group managed 59 scenic and resort destinations through investment and operations, maintaining the leading position in the industry.
- The Group’s financial position remained stable and healthy, with adequate investment and financing capabilities. Debt-to-equity ratio was 32%.
- A dividend of HK1.5 cents per share was distributed for the full year, with a dividend payout ratio of 78%.
HONG KONG, Mar 27, 2025 - (ACN Newswire) - China Travel International Investment Hong Kong Limited (“China Travel International” or the “Company”, together with its subsidiaries, the ‘‘Group’’) (Stock Code: 308) announced the annual results for the year ended 31 December 2024 (the “Period”). The Group recorded a consolidated revenue of HK$4,627 million for the Period, representing a 3% increase compared with the previous year. Profit attributable to operation was HK$307 million, representing an 8% increase compared with the previous year. The decreased profit for the Period was mainly attributable to a decrease in the fair value of investment properties.
During the Period, the tourism economy returned to a growth tendency, the Group consistently strengthened its core functions and competitiveness, while committing to expanding operational scale and enhancing development capabilities. Total revenue from tourist attractions and related operations was HK$2,345 million, representing a 2% increase compared with the previous year. Attributable profit was HK$14 million, a turnaround from loss to profit. Demand for the travel document business returned to a normal level. Revenue from travel document and related operations was HK$344 million, representing a decrease of 27% compared with the previous year. Attributable profit was HK$176 million, representing a 30% decrease compared with the previous year. With the increase in tourist numbers due to the relaxation of travel restrictions and the opening of the Metropark Hotel Hung Hom and Green Residence serviced apartment in May 2024, revenue from the Group’s hotel operations was HK$820 million, representing an 18% increase compared with the previous year. Hotel operations recorded an attributable profit of HK$227 million, representing a 40% increase compared with the previous year. Revenue from passenger transportation operations was HK$1,093 million, representing an 11% increase compared with the previous year. The Group’s financial position remained stable and healthy, with adequate investment and financing capabilities. Cash and bank balances were HK$2,444 million and debt-to-equity ratio was 32%‚
The Board does not recommend the payment of a final dividend for the Period. A dividend of HK1.5 cents per share was distributed for the full year, with a dividend payout ratio of 78%.
By placing greater emphasis on customer demand-oriented approaches and developing a multi-level and differentiated product series, the Group is exploring the "Second Growth Curve." Guided by its strategic roadmap, the Group intensified innovation-driven development initiatives, achieving record-high revenues at select tourist destinations. With lean management instituted in Desert Star Hotel and Diamond Hotel officially opened, Shapotou Scenic Spot successfully developed a new “scenic spot + characteristic hotel” tourism model and created a national-level tourist resort, achieving considerable revenue growth during the year. The China-Vietnam Detian cross-border Tourism Cooperation Zone in Detian Scenic Spot has commenced operation, becoming the first cross-border tourism cooperation zone in China. Lanyue Hotel of CTS Lugu Lake offers a variety of immersive local cultural experiences, catering to the preferences of high-net-worth vacationers, and has been awarded multiple accolades as a boutique resort hotel. In cooperation with Tencent Video, Splendid China has introduced the IP of A Dream of Splendour to create the IP powered “Splendid and Flourishing Age”, an immersive new cultural and entertainment district.
Through the acquisition and strategic management of premium scenic assets, the Group is positioning itself as a “first-class tourist destination investment and operation service provider”. During the Period, the Company established a joint venture for the Longqi Bay Resort project in Dapeng New District, Shenzhen, an important exploration for the Company’s goal of building a quality “one-stop leisure and vacation destination in the Greater Bay Area”. Additionally, the Company formed a joint venture for the urban renewal of Chongqing amusement park. The Company also established a joint venture to develop a domestic and international aerospace tourism destination in Hainan, starting with the upgrading and operation of the Wenchang Aerospace Science Center. Moreover, the Group launched three projects in Sichuan Daocheng Yading, Guangdong Shantou, and Jiangxi Ruiji, enriching the business line of natural and cultural scenic spots. The Group extended its management services to 16 additional well known tourism destinations in Xinjiang, Jiangxi, and other provinces, three of which are 5A grade scenic spots, including the Gate of the Taklamakan Desert in Xinjiang. Managing 59 scenic and resort destinations through investment and operations, the Group maintains the leading position in the industry.
Driven by technological innovation, the Company has upgraded its management and operations, achieving high-quality and sustainable growth. The Company continued to iterate and enhance the functionality of its digital platforms to optimise booking processes and the customer service experience. All the Company’s controlled scenic spots have adopted digital platforms for integrated online business operations. By leveraging capabilities such as whole-staff marketing and discount purchase limits, the Company further enhances its self-operated sales volume. The Company successfully integrated with the parent company’s Hong Kong platform, CTGO, providing strong support for the expansion of Hong Kong operations. The Company has also explored innovative applications of new technologies and products such as AI and drones in scenic areas. Five innovative scenarios were launched, such as an AR tour experience at Detian Scenic Spot, Qianxiaobao AI Agent, and drone performances at Window of the World, in order to enhance customer experience.
About China Travel International Investment Hong Kong Limited
With its strategy of becoming "a first-class tourist destination investor, operator and service provider", the Group focuses on the development of tourist destinations and is committed to develop and operate premium cultural and tourism products with unique experience in travel and leisure. The principal business activities of the Group include investment and operations of tourist attraction and related business (including theme parks, natural and cultural scenic spots, leisure resorts and supplementary tourist attraction operations), travel document and related operations, hotel operations and passenger transportation operations.
This press release is issued by Porda Havas International Financial Communications Group for and on behalf of China Travel International Investment Hong Kong Limited. For enquiries, please contact
Ms. Kelly Fung/Ms. Wang Pei
Tel: +852 3150 6763 / +86 10 5923 2758
Email: chinatravel.hk@h-advisors.global