MBTRSKY@EC2607A

Shenwan Hongyuan Maintains Buy Rating on China National Aviation Information Network

BlackRock Sells 24,582,318 Shares of China National Aviation Information Network

CLSA cuts target price for China National Aviation Information Network to HKD 12.8

Nomura Downgrades China Air Transport Information Network's Revenue Forecast But Maintains Buy Rating

Morgan Stanley Downgrades China Air Transport Information Services EBITDA and Profit Forecasts, Raises Target Price

CICC Maintains CYTECH's Earnings Forecast and Outperform Industry Rating

TRAVELSKY TECH released FY2025 Q1 earnings on August 21, BJT with actual revenue of HKD 2.085 B and EPS of HKD 0.2623

TRAVELSKY TECH released FY2025 Q2 earnings on August 21 During-Market BJT, actual revenue HKD 2.131 B, actual EPS HKD 0.2681

TRAVELSKY TECH released FY2025 Semi-Annual Earnings on August 21 During-Market (BJT), actual revenue HKD 4.217 B (forecast HKD 4.797 B), actual EPS HKD 0.5305

TRAVELSKY TECH to Release FY2025 Q2 Earnings on August 21 During-Market BJT

CSC sees strong future profits for China Air Transport Information Services

China Air Transport Information Services Announces Final Dividend of 0.239 Yuan Per Share

China National Aviation Information Network Plans Final Dividend of 0.239 Yuan Per Share

CLSA Reduces Target Price for China Air Transport Information Services

Morgan Stanley Raises Profit Forecasts for China Civil Aviation Information for 2025 and 2026

CICC Raises Profit Forecast for China Civil Aviation Information Network to 2.327 and 2.581 Billion Yuan for 2025 and 2026

TRAVELSKY TECH released FY2024 Q3 earnings on March 27, 2025 (BJT) with actual revenue of HKD 2.65 B and EPS of HKD 0.133

TRAVELSKY TECH released FY2024 earnings on March 27 (BJT), actual revenue HKD 9.551 B (forecast HKD 8.833 B), actual EPS HKD 0.7673 (forecast HKD 0.7254)

TRAVELSKY TECH released FY2024 Q4 earnings on March 27, 2025 (BJT) with actual revenue of HKD 2.543 B and EPS of HKD 0.1276

TRAVELSKY TECH released FY2024 9-month earnings on March 27, 2025 (BJT), with actual revenue of HKD 7.012 B and EPS of HKD 0.6372

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HSBC Research has given China Civil Aviation Information Network a "Buy" rating for the first time, with a target price of 12.8 yuan. The report points out that the stable growth in passenger volume will enhance operational leverage, support an increase in the dividend payout ratio, and drive valuation. It is expected that from 2024 to 2027, the average annual compound growth rate of revenue will be 3.9%, the average annual compound growth rate of EBIT will be 9.4%, and the average annual compound growth rate of net profit will be 8%. The dividend payout ratio is expected to rise from 34% in 2024 to 45% in 2027, with the current dividend yield at approximately 4%

AASTOCKS

TRAVELSKY TECH

HSBC Research initiates a "Buy" rating on TRAVELSKY TECH with a target price of 12.8 yuan

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TravelSky Technology (OTCMKTS:TSYHY) experienced a significant increase in trading volume, with 7,663 shares traded, a 90% rise from the previous session. The stock is currently priced at $13.45, down from a previous close of $13.70. The company, a major IT solutions provider for the air travel industry in China, has a debt-to-equity ratio of 0.02 and strong liquidity ratios. Analysts currently rate the stock as a Hold, but suggest other stocks may be better investment options.

Market Beat

Air China

TravelSky Technology (OTCMKTS:TSYHY) Sees Unusually-High Trading Volume  - Here's What Happened

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Air China Limited has issued a profit warning for the year ending December 31, 2025, expecting a net loss of approximately RMB1.3 billion to RMB1.9 billion. After accounting for non-recurring items, the loss could reach between RMB1.9 billion and RMB2.7 billion, a significant increase from the previous year's losses. The company attributes these losses to ongoing operational optimization efforts, despite stable economic conditions in the aviation industry. The financial figures are preliminary and unaudited.

Reuters

AIR CHINA

ChinaAMC CSI All Share Transportation ETF

Air China Expects 2025 Net Loss of Up to RMB 1.9 Billion

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

Morning Trend | TRAVELSKY TECH tests support, signs of a trend change under cautious capital?

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

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

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

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

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

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."

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

CICC maintains an outperform rating for TRAVELSKY TECH with a target price of HKD 13, expecting profits of RMB 2.327 billion and RMB 2.581 billion for 2025 and 2026, respectively. The current stock price corresponds to a price-to-earnings ratio of 13.6 times for 2025 and 12.1 times for 2026, indicating an upside potential of 10.2%. In 1H25, revenue was RMB 3.895 billion, a year-on-year decline of 3.6%; net profit attributable to the parent company was RMB 1.448 billion, a year-on-year increase of 5.9%. It is recommended to pay attention to the changes in user activity of the airline travel app and its commercialization potential

CICC: Maintains outperform rating for TRAVELSKY TECH with a target price of HKD 13

TRAVELSKY TECH announced its interim results for the six months ending in June, with operating revenue of RMB 3.895 billion, a year-on-year decrease of 3.6%. The net profit attributable to shareholders was RMB 1.448 billion, an increase of 5.9%, with earnings per share of 49 cents. No dividend was declared

In the performance report, China Aviation Information Technology's mid-term net profit is RMB 1.448 billion, an increase of 5.9%, with no dividend distribution

According to the Zhitong Finance APP, China Civil Aviation Information Network announced its mid-term performance for 2025, with total operating revenue of 3.8945 billion yuan, a year-on-year decrease of 3.64%; net profit attributable to shareholders of the parent company was approximately 1.448 billion yuan, a year-on-year increase of 5.88%; basic earnings per share were 0.49 yuan. The announcement stated that the year-on-year growth in profit was mainly due to the stable year-on-year growth in aviation information technology service revenue and further improvement in the company's collection situation

TRAVELSKY TECH announced its interim results, with a net profit attributable to the parent company of approximately 1.448 billion yuan, a year-on-year increase of 5.88%

TRAVELSKY TECH rose nearly 3%, as of the time of writing, it increased by 2.37%, reported at HKD 12.5, with a transaction volume of HKD 31.4982 million. In terms of news, recently, TRAVELSKY TECH announced that compared to the net profit of approximately RMB 1.38 billion for the six months ending June 30, 2024, disclosed in the mid-2024 performance announcement, the group expects to achieve a net profit of around RMB 1.45 billion for the six months ending June 30, 2025. The announcement stated that the group's revenue from aviation information technology services in the first half of 2025 is expected to grow steadily year-on-year. However, due to the impact of the construction and acceptance progress of airport system integration projects, the revenue from system integration services decreased year-on-year, ultimately leading to a year-on-year decrease in the group's total operating revenue in the first half of 2025. In addition, due to further improvement in the collection situation, the amount of credit impairment losses reversed in the first half of 2025 increased year-on-year. Considering the above factors, the group's net profit in the first half of 2025 is expected to achieve year-on-year growth

Understanding the Market | TRAVELSKY TECH rose nearly 3% with an expected mid-term net profit of around 1.45 billion yuan and further improvement in cash collection situation

TRAVELSKY TECH released a profit warning, expecting a mid-2025 net profit of approximately 1.45 billion yuan, a year-on-year increase. Although the revenue from aviation information technology services has steadily grown, the revenue from system integration services has decreased due to the impact of airport system integration projects, leading to a year-on-year decline in total revenue. The increase in the reversal amount of credit impairment losses, along with other factors, has resulted in a year-on-year growth in net profit

TRAVELSKY TECH issued a profit warning, expecting a mid-term net profit of approximately 1.45 billion yuan, a year-on-year increase

MBTRSKY@EC2607A(24242.HK)

HSBC Research initiates a "Buy" rating on TRAVELSKY TECH with a target price of 12.8 yuan

TravelSky Technology (OTCMKTS:TSYHY) Sees Unusually-High Trading Volume - Here's What Happened

Air China Expects 2025 Net Loss of Up to RMB 1.9 Billion

Morning Trend | TRAVELSKY TECH tests support, signs of a trend change under cautious capital?

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