Market Closed -
Hong Kong S.E.
09:08:20 26/04/2024 BST
|
5-day change
|
1st Jan Change
|
4.14
HKD
|
+3.24%
|
|
+10.99%
|
-16.19%
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Capitalization
1 |
128,759
|
98,007
|
111,194
|
133,440
|
106,023
|
107,557
|
-
|
-
|
Enterprise Value (EV)
1 |
164,134
|
174,453
|
279,478
|
257,277
|
241,956
|
309,649
|
296,291
|
270,603
|
P/E ratio
|
15
x
|
-4.9
x
|
-3.66
x
|
-2.18
x
|
-66.6
x
|
10
x
|
7.43
x
|
4.4
x
|
Yield
|
0.63%
|
-
|
-
|
-
|
-
|
1.55%
|
2.12%
|
-
|
Capitalization / Revenue
|
0.95
x
|
1.41
x
|
1.49
x
|
2.52
x
|
0.75
x
|
0.63
x
|
0.59
x
|
0.54
x
|
EV / Revenue
|
1.21
x
|
2.51
x
|
3.75
x
|
4.86
x
|
1.71
x
|
1.81
x
|
1.61
x
|
1.35
x
|
EV / EBITDA
|
8.52
x
|
-19.2
x
|
68.6
x
|
-6.93
x
|
28.5
x
|
7.78
x
|
7.3
x
|
6.18
x
|
EV / FCF
|
6.31
x
|
-16.6
x
|
-21.4
x
|
-10.8
x
|
17.3
x
|
48.8
x
|
25.1
x
|
20.7
x
|
FCF Yield
|
15.8%
|
-6.02%
|
-4.67%
|
-9.22%
|
5.77%
|
2.05%
|
3.98%
|
4.84%
|
Price to Book
|
1.1
x
|
0.96
x
|
1.05
x
|
-
|
-
|
1.3
x
|
1.19
x
|
1.04
x
|
Nbr of stocks (in thousands)
|
14,524,815
|
14,524,815
|
14,524,815
|
14,524,815
|
16,200,793
|
16,593,720
|
-
|
-
|
Reference price
2 |
7.069
|
5.134
|
4.433
|
6.138
|
4.490
|
3.832
|
3.832
|
3.832
|
Announcement Date
|
31/03/20
|
30/03/21
|
30/03/22
|
30/03/23
|
28/03/24
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net sales
1 |
136,181
|
69,504
|
74,532
|
52,898
|
141,100
|
171,162
|
183,657
|
200,348
|
EBITDA
1 |
19,258
|
-9,094
|
4,072
|
-37,124
|
8,502
|
39,792
|
40,592
|
43,817
|
EBIT
1 |
9,178
|
-18,500
|
-16,862
|
-46,085
|
-3,324
|
16,589
|
14,923
|
22,785
|
Operating Margin
|
6.74%
|
-26.62%
|
-22.62%
|
-87.12%
|
-2.36%
|
9.69%
|
8.13%
|
11.37%
|
Earnings before Tax (EBT)
1 |
9,105
|
-18,475
|
-21,826
|
-45,877
|
-1,660
|
8,092
|
13,987
|
18,853
|
Net income
1 |
6,409
|
-14,409
|
-16,635
|
-38,617
|
-1,046
|
6,016
|
9,087
|
13,436
|
Net margin
|
4.71%
|
-20.73%
|
-22.32%
|
-73%
|
-0.74%
|
3.51%
|
4.95%
|
6.71%
|
EPS
2 |
0.4700
|
-1.049
|
-1.211
|
-2.812
|
-0.0674
|
0.3826
|
0.5156
|
0.8708
|
Free Cash Flow
1 |
25,998
|
-10,497
|
-13,040
|
-23,727
|
13,973
|
6,347
|
11,782
|
13,091
|
FCF margin
|
19.09%
|
-15.1%
|
-17.5%
|
-44.85%
|
9.9%
|
3.71%
|
6.42%
|
6.53%
|
FCF Conversion (EBITDA)
|
134.99%
|
-
|
-
|
-
|
164.35%
|
15.95%
|
29.03%
|
29.88%
|
FCF Conversion (Net income)
|
405.67%
|
-
|
-
|
-
|
-
|
105.5%
|
129.65%
|
97.43%
|
Dividend per Share
2 |
0.0444
|
-
|
-
|
-
|
-
|
0.0596
|
0.0813
|
-
|
Announcement Date
|
31/03/20
|
30/03/21
|
30/03/22
|
30/03/23
|
28/03/24
|
-
|
-
|
-
|
Fiscal Period: December |
2019 S2
|
2020 S1
|
2021 Q4
|
2021 S2
|
2022 Q1
|
2022 Q2
|
2022 S1
|
2022 Q3
|
2022 Q4
|
2022 S2
|
2023 Q1
|
2023 Q2
|
2023 S1
|
2023 Q3
|
2023 Q4
|
2023 S2
|
2024 Q1
|
2024 Q2
|
2024 S1
|
2024 Q3
|
2024 Q4
|
2024 S2
|
2025 S1
|
---|
Net sales
1 |
70,868
|
29,646
|
17,074
|
36,868
|
12,918
|
11,035
|
23,953
|
18,136
|
10,809
|
28,945
|
25,068
|
34,545
|
59,613
|
45,864
|
35,623
|
81,487
|
40,066
|
38,288
|
88,747
|
57,979
|
34,444
|
59,809
|
63,683
|
EBITDA
1 |
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
6,098
|
-
|
20,189
|
-3,149
|
-
|
-
|
EBIT
1 |
-
|
-
|
-7,173
|
-10,820
|
-10,450
|
-12,608
|
-16,973
|
-16,373
|
-12,739
|
-18,471
|
-3,295
|
-2,388
|
-795.5
|
5,253
|
-2,894
|
3,897
|
-1,947
|
1,913
|
-
|
-
|
-
|
-18,471
|
-898
|
Operating Margin
|
-
|
-
|
-42.01%
|
-29.35%
|
-80.9%
|
-114.26%
|
-70.86%
|
-90.28%
|
-117.86%
|
-63.81%
|
-13.14%
|
-6.91%
|
-1.33%
|
11.45%
|
-8.12%
|
4.78%
|
-4.86%
|
5%
|
-
|
-
|
-
|
-30.88%
|
-1.41%
|
Earnings before Tax (EBT)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-22,801
|
-
|
-
|
-
|
-
|
-
|
2,710
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Net income
|
3,269
|
-
|
-6,321
|
-9,854
|
-8,900
|
-10,537
|
-19,437
|
-
|
-
|
-19,181
|
-
|
-
|
-
|
-
|
-
|
2,408
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Net margin
|
4.61%
|
-
|
-37.02%
|
-26.73%
|
-68.9%
|
-95.49%
|
-81.15%
|
-
|
-
|
-66.27%
|
-
|
-
|
-
|
-
|
-
|
2.96%
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
EPS
|
-
|
-
|
-
|
-0.7200
|
-
|
-
|
-
|
-
|
-
|
-1.396
|
-
|
-
|
-0.2239
|
-
|
-
|
0.1565
|
-0.1100
|
-
|
0.2000
|
-
|
-
|
0.2000
|
-
|
Dividend per Share
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Announcement Date
|
31/03/20
|
28/08/20
|
30/03/22
|
30/03/22
|
28/04/22
|
30/08/22
|
30/08/22
|
28/10/22
|
30/03/23
|
30/03/23
|
26/04/23
|
30/08/23
|
30/08/23
|
26/10/23
|
28/03/24
|
28/03/24
|
26/04/24
|
-
|
-
|
-
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net Debt
1 |
35,375
|
76,446
|
168,284
|
123,837
|
135,933
|
202,092
|
188,172
|
163,046
|
Net Cash position
1 |
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Leverage (Debt/EBITDA)
|
1.837
x
|
-8.406
x
|
41.32
x
|
-3.336
x
|
15.99
x
|
5.079
x
|
4.636
x
|
3.599
x
|
Free Cash Flow
1 |
25,998
|
-10,497
|
-13,040
|
-23,727
|
13,973
|
6,347
|
11,782
|
13,091
|
ROE (net income / shareholders' equity)
|
7.09%
|
-16.9%
|
-23.8%
|
-90.9%
|
-2.77%
|
17.8%
|
19.2%
|
22.6%
|
ROA (Net income/ Total Assets)
|
2.38%
|
-4.98%
|
-5.67%
|
-13%
|
-0.33%
|
1.79%
|
3.59%
|
3.8%
|
Assets
1 |
268,929
|
289,172
|
293,493
|
296,692
|
317,567
|
335,649
|
253,323
|
353,578
|
Book Value Per Share
2 |
6.440
|
5.340
|
4.230
|
-
|
-
|
2.960
|
3.230
|
3.670
|
Cash Flow per Share
2 |
2.790
|
0.1000
|
0.5200
|
-
|
-
|
2.030
|
1.860
|
1.870
|
Capex
1 |
12,342
|
11,905
|
20,170
|
6,965
|
21,446
|
30,192
|
17,259
|
24,798
|
Capex / Sales
|
9.06%
|
17.13%
|
27.06%
|
13.17%
|
15.2%
|
17.64%
|
9.4%
|
12.43%
|
Announcement Date
|
31/03/20
|
30/03/21
|
30/03/22
|
30/03/23
|
28/03/24
|
-
|
-
|
-
|
Last Close Price
3.832
CNY Average target price
5.425
CNY Spread / Average Target +41.57% Consensus |
1st Jan change
|
Capi.
|
---|
| -16.19% | 14.84B | | +24.09% | 32.21B | | +6.68% | 24.77B | | -0.30% | 19.86B | | +32.63% | 18.21B | | +28.07% | 17.37B | | +38.67% | 13.47B | | -14.20% | 12.32B | | +13.74% | 10.8B | | -2.58% | 10.28B |
Other Airlines
|