HUTRSKY@EC2605A(15519.HK)

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HUTRSKY@EC2605A
15519.HK
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Morning Trend | TRAVELSKY TECH tests support, signs of a trend change under cautious capital?

China Civil Aviation Information Network (696.HK) experienced a contraction and consolidation on January 8, with the stock price testing a key support range. The aviation service sector lacks new catalysts this week, and the market is focused on expectations for the Spring Festival travel rush, but the existing transportation data and performance forecasts have not exceeded expectations. Main funds in the industry are on the sidelines, with no large transactions from leading companies, leading to increased divergence within the sector and hindering valuation increases. Technically, MACD and KDJ are weak, with low trading volume, and the support range is being repeatedly tested, with ambiguous signals for buying interest. If the Spring Festival travel data or flight orders exceed expectations, it may trigger a short-term rebound; otherwise, the sector may maintain structural consolidation. Short-term investment should focus on a wait-and-see strategy, with the key approach being defense and timely response to unusual signals

Technical Forecast·
HK
00696
-0.92%
Technical Forecast·
HK
00696
-0.92%

Early Market Trend | TRAVELSKY TECH shows weak trading with reduced volume, can it break through by switching hot spots?

On December 29th, China Civil Aviation Information Network closed with reduced volume, and the aviation and travel sector remained sluggish. The post-epidemic recovery is weak, and funds are choosing to huddle for defense. The MACD and short-term moving averages indicate a typical adjustment trend, with 6.24 yuan becoming an important support level. A head and shoulders top pattern is forming within the trading session, and there is community discussion about the risk of a lack of momentum after a technical breakdown. There are currently no significant new routes or international collaborations, and the industry as a whole lacks highlights. Short-term opportunities depend on sector rotation or unexpected positive news in the industry. Recently, some funds have been paying attention to intraday fluctuations; if there is increased volume at the bottom or unusual sector linkage, it may stimulate trading enthusiasm; otherwise, the wait-and-see atmosphere will continue

Technical Forecast·
HK
00696
-0.92%
Technical Forecast·
HK
00696
-0.92%

Citi: Lowers the target price for TRAVELSKY TECH to HKD 12.8, maintains "Outperform" rating

Citi released a research report stating that the latest July operational data from China Civil Aviation Information Network indicates that the recovery of passenger traffic for foreign airlines in the second half of this year may still be slow. The System Integration (SI) business dragged down the company's revenue growth in the first half of the year, but management expects more projects to be launched in the second half. However, the visibility of progress on these projects is low, leading the bank to adopt a more conservative forecast. Citi pointed out that the improvement in the profitability of China Civil Aviation Information Network is proceeding as planned and should continue to advance. The bank lowered its target price from HKD 14.8 to HKD 12.8 but maintained a "Outperform" rating, currently forecasting a net profit of RMB 2.209 billion for this year

Zhitong·
HK
00696
-0.92%
Zhitong·
HK
00696
-0.92%

Daiwa: Lowers the target price for TRAVELSKY TECH to HKD 13, recovery is gradual, reiterates "Buy" rating

Daiwa released a research report stating that the recovery of China Civil Aviation Information Network is gradual, and it holds an optimistic attitude towards its system integration business, but expects the recovery of international airlines to be slow; it has lowered its revenue forecast for 2025 to 2027 by 4% to 5%, mainly due to the slower-than-expected recovery in tourism. Daiwa has reduced the company's earnings per share forecast for 2025 to 2027 by 16% to 17% to reflect the lower-than-expected performance in the first half of 2025, reiterating a "Buy" rating for the company, with a target price lowered from HKD 13.5 to HKD 13. The report states that the company's management pointed out that several changes in the post-pandemic period have dragged down the company's recent profitability, including low handling volume from international airlines, which previously had higher average unit prices and profit margins than domestic airlines; the revenue contribution from the system integration business is about 20% (compared to double digits before the pandemic); employee costs for 2023 to 2024 have increased to over RMB 2 billion (averaging RMB 1.8 billion from 2017 to 2019). The firm noted that despite adjusting the company's revenue forecast, it reiterated the company's future operational leverage potential, as fixed costs account for 60% to 70% of total operating costs. In addition, Daiwa emphasized that management has intensified cost control efforts (especially employee costs) to improve the company's profitability

Zhitong·
HK
00696
-0.92%
Zhitong·
HK
00696
-0.92%

Morgan Stanley: Raises the target price for TRAVELSKY TECH to HKD 10.2, rating "Reduce"

Morgan Stanley released a research report stating that it has lowered its EBITDA forecast for China Civil Aviation Information Network from this year to 2027 by 6% to 7%, based on slower-than-expected revenue recognition in the first half of the year for the SI business, lower processing volumes from foreign airlines, and reduced depreciation and amortization expenses. The bank roughly maintains its net profit forecast for the company this year, based on more credit impairment reversals and lower depreciation and amortization. The net profit forecasts for the company for next year and the year after have been lowered by 1% and 2%, respectively. The bank raised its target price for China Civil Aviation Information Network from HKD 9.9 to HKD 10.2, changing its assumption on the RMB exchange rate from considering RMB appreciation to an appreciation of 1.5% against the HKD. The bank continues to rate the stock as "Underweight."

Zhitong·
HK
00696
-0.92%
Zhitong·
HK
00696
-0.92%
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