The market's past overconfidence is evident in the slower EPS reduction compared to the annual share price drop. Last year's performance suggests unresolved challenges, as it underperformed the annualised 0.2% loss over the past five years.

Investor expectation for future growth contributes to the high P/E ratio, bolstered by the company's superior earnings outlook. Despite warnings, a significant drop in share price seems unlikely under the current conditions.

The market might have been too optimistic about Wangfujing Group in the past. The recent sell-off may represent a possible opportunity, urging potential investors to inspect for long-term growth trends in the company's fundamental data.

I.2023 Travel Tourism New Trends
Since December 2022, along with the cancellation of PCR testing and allowing test positive to quarantine at home, domestic travel restrictions have now been fully liberalized. In the future, immigration is not ruled out and will gradually liberalize.
Concerning domestic travel trends, the data from Mafengwo shows that in 2021, about 70% of free-traveling users will choose to travel by car after heavy t...