China International Travel Service Group Co., Ltd. has three subsidiaries: China International Travel Service Head Office, China Duty Free (Group) Company and China International Travel Service Real Estate and Property Management Company to be established soon.
China International Travel Service Head Office was established on 1954. After 50 years of development, it has become a well-known large-scale travel agency enterprise group at home and abroad. Over the years, it has attracted and received more than100000 overseas tourists, and set up 13 overseas companies in the United States, Japan, Australia, France, Germany, Denmark, Hong Kong, Macao and other countries and regions. There are more than 150 wholly-owned and holding subsidiaries and franchised enterprises in China, and 1000 companies in the world. China Duty Free Commodities (Group) Company was established in 1984. After 20 years of development, eight categories 154 duty-free enterprises (stores) have been established successively, including airport duty-free shops, on-board duty-free shops and border duty-free shops. Its sales network covers more than 90 port cities and border areas in 28 provinces, autonomous regions and municipalities directly under the central government, and its products are mainly high-end imported goods and domestic fine products. The company's annual sales account for 63% of the market share of the national port duty-free goods industry, ranking sixth among the duty-free goods operators in Asia. As a representative of the duty-free goods industry in China, it ranks among the top 20 duty-free goods operators in the world. China Duty Free Corporation has established good cooperative relations with world-renowned duty-free manufacturers and suppliers at home and abroad, and provides high-quality and convenient duty-free shopping services to tens of millions of Chinese and foreign tourists, diplomats in China and international seafarers every year.
China International Travel Real Estate Property Management Company, which will be established soon, will manage Wang Fu Mansion, Chang 'an Mansion, Zhengdong International Mansion, Gaolan Mansion and other properties. At the same time, it will devote itself to developing tourism characteristic projects, trying timeshare projects and building a unique brand of China International Travel Real Estate.
By the end of 2004, China International Travel Service Group Co., Ltd. had 82 wholly-owned and holding enterprises with 35 16 employees. Its business still focuses on travel agencies and duty-free goods sales, as well as other businesses, such as tourism and transportation services, property leasing and management.
In 2004, the group company realized an operating income of 3.749 billion yuan, an increase of 654.38+34.6 million yuan or 5.60 1% over the same period in 2003. The main reason is that in 2003, the tourism business of the head office of China Travel Agency Group Co., Ltd. and the duty-free sales business of China Duty Free Goods Corporation were greatly adversely affected. 2004 became a crucial year for China International Travel Service Group Co., Ltd. to get rid of difficulties and speed up business recovery. With the gradual recovery of tourism, the group company overcame the impact of the aftermath of bird flu and SARS at the beginning of the year and closely focused on the growth of its two main businesses-travel agency business and tax-free business. On the one hand, it improves its existing business and taps its growth potential; on the other hand, it creates new value by optimizing its portfolio. Through hard work, the operating performance of the group company has been greatly improved compared with that in 2003.