|Bid||8.050 x 0|
|Ask||8.070 x 0|
|Day's Range||7.990 - 8.100|
|52 Week Range||5.870 - 11.200|
|Beta (3Y Monthly)||1.79|
|PE Ratio (TTM)||13.21|
|Forward Dividend & Yield||0.12 (1.47%)|
|1y Target Est||7.10|
BEIJING/PARIS (Reuters) - Air China Ltd , China's flagship carrier, will buy 20 A350-900 jets from Airbus SE , both companies said, bolstering the European planemaker's order book for wide-body jets against Boeing Co amid Sino-U.S. trade tensions. Air China on Thursday said the order is worth $6.54 billion, based on list prices, and that deliveries were scheduled from 2020 through 2022. Airbus, in a statement to Reuters, confirmed the order was new.
Today we'll evaluate Air China Limited (HKG:753) to determine whether it could have potential as an investment idea...
(Bloomberg Opinion) -- Shanghai is flying again. The first company to sell shares on its Nasdaq-style technology board priced its stock at a huge premium to the broader market, little more than a week after a successful debut for the city’s cross-border listing program with the U.K. The dual initiatives may help the Shanghai stock exchange regain some of the fundraising allure it’s lost to Shenzhen and Hong Kong – if it can keep up the momentum.On Tuesday, Suzhou HYC Technology Co. became the first candidate on the SSE STAR Market to price its stock. The maker of industrial testing equipment will raise 973 million yuan ($141 million) selling shares at 24.26 yuan apiece. The price implies a multiple of 41 times earnings, adjusted for non-recurring items, compared with 14.5 times for the Shanghai Composite Index, after regulators relaxed an unofficial price-earnings cap of 23 times on initial public offerings. The retail portion of the offer was 1,670 times oversubscribed, Bloomberg News reported Friday.Huatai Securities Co., meanwhile, became the first company to list under the Shanghai-London Stock Connect program this month, raising $1.7 billion(1) in Europe’s second-largest IPO of 2019. As of Wednesday’s close, its global depositary receipts had climbed 17% from the offer price. The STAR market will help Shanghai compete with Shenzhen, whose ChiNext board has become the go-to venue for new economy companies in China over the past few years. It will also offer an alternative to listing in offshore markets such as Hong Kong and the U.S. Besides relaxing the P/E ceiling, regulators will allow dual-class share structures and admit companies that have no revenue, in line with overseas markets that target technology startups. The London trading link may also burnish Shanghai’s appeal for potential listing candidates, offering them the chance to tap overseas capital while remaining listed at home.There are multiple headwinds facing both initiatives, though. If history is any guide, liquidity on the tech board is likely to slip after an initial spurt. That’s what happened with ChiNext, which started operations amid much fanfare in 2010.For all the enthusiasm, the STAR board has yet to land a big fish. There were 131 applicants as of Thursday morning, of which more than 20 have already received approval from the Shanghai exchange, according to data compiled by Bloomberg. Yet there’s no sign of China’s biggest and most exciting private tech firms – such as Bytedance Ltd., the company behind the globally popular TikTok video app; or Ant Financial, the payments affiliate of Alibaba Group Holding Ltd. Indeed, New York-traded Alibaba is itself planning a secondary listing in Hong Kong.That reflects the fact that raising money in dollars is still a powerful hook for Chinese technology companies, both as a springboard for expansion and as a hard-currency exit for Western venture capital firms that have invested in them. In 2018, Chinese tech firms sold $15.75 billion of shares in Hong Kong, where the local currency is pegged to the dollar, versus $7.87 billion in the mainland.In theory, this should be an ideal time for Shanghai to introduce its technology board. China-U.S. trade tensions have flared, potentially causing companies to rethink the wisdom of listing in America. Meanwhile, Republican Senator Marco Rubio is among politicians sponsoring a bill that proposes to delist mainland firms that don’t open their audit books to U.S. regulators. Chinese companies are desperate for money, but the Chinese Securities Regulatory Commission, which vets all other listings outside the STAR market, has at least 400 companies waiting for approval in a line that could take years to clear.The response to HYC Technology and other candidates such as UCloud Technology Co., which has a dual-class structure, and Suzhou Zelgen Biopharmaceutical Co., which has no revenue, will tell whether that promise is fulfilled. For bankers, the market may prove a mixed blessing. While IPO arrangers are freed from the P/E cap, they are required to buy between 2% and 5% of each company they bring to market. That ensures the underwriting banks have skin in the game and gives them a disincentive to price sales too high.As for the London connect, there’s no guarantee that the buzz surrounding Huatai’s debut will be sustained. Chinese firms previously listed in the U.K. are barely traded: Shares of Air China Ltd., for example, changed hands only four times in May. It’s also a one-sided arrangement: London-listed companies can’t raise money on the STAR market, which may limit their interest in having shares traded there. So far, HSBC Holdings Plc – which has roots in Shanghai – may be the only firm to have indicated interest. The STAR market will certainly give Shanghai a leg-up in its competition with the southern city of Shenzhen. The effects are unlikely to be felt much further afield, though. Offshore centers from Hong Kong to New York can rest easy.\--With assistance from Irene Huang. (Updates with the subscription ratio for HYC Technology in the second paragraph.)(1) That includes the exercise of a greenshoe option that raised the initial amount from $1.5 billion.To contact the author of this story: Nisha Gopalan at firstname.lastname@example.orgTo contact the editor responsible for this story: Matthew Brooker at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
After Air China Limited's (HKG:753) earnings announcement in March 2019, it seems that analyst forecasts are...
The China Air Transport Association (CATA) on Friday said it estimates losses at Chinese airlines caused by the grounding of Boeing Co's 737 MAX aircraft will reach around 4 billion yuan ($579.32 million) by the end of June. China was the first country to ground the 737 MAX two months ago after a crash in Ethiopia killed 157 people in March, in the second such incident for Boeing's newest aircraft.
BEIJING (AP) — China is stepping up pressure on Boeing Co. as its airlines demand compensation for the grounding of 737 Max jetliners after fatal crashes in Ethiopia and Indonesia.
China's three biggest airlines have asked U.S. planemaker Boeing Co to compensate them for losses caused by the grounding and delayed deliveries of 737 MAX jets, just as regulators gather to discuss design changes for the troubled aircraft. The triple compensation requests come at a sensitive time in Sino-U.S. relations, with a string of tit-for-tat import tariffs culminating in Washington accusing Beijing of backtracking on almost all aspects of a proposed trade deal. The U.S. administration's latest tariff increase on $200 billion (158 billion pounds) worth of Chinese imports - and hints of more - has prompted fear that China could retaliate against U.S. companies.
Air China has formally asked Boeing Co for compensation over the grounding of its 737 MAX aircraft and delayed deliveries of its orders, the state TV China Central Television reported on Wednesday. On ...
April 25 (Reuters) - Air China Ltd: * SAYS Q1 NET PROFIT UP 3.6 PERCENT Y/Y Source text in Chinese: http://bit.ly/2IVg7Ns Further company coverage: (Reporting by Hong Kong newsroom)
Air China on Wednesday received approval to launch a long-haul route from Shanghai to London, and permit the carrier to compete with China Eastern Airlines, as Beijing eased a decade-old "one route, one airline" policy. Previously, Shanghai-headquartered China Eastern Airlines was the only Chinese carrier on the route. China's aviation regulator said last year it would ease the policy which had been in place since 2009.
If you want to know who really controls Air China Limited (HKG:753), then you'll have to look at the makeup of its share registry. Generally speaking, as a company grows, institutions will increase their ownership. Conversely, insi...
March 27 (Reuters) - Air China Ltd: * SAYS 2018 NET PROFIT UP 1.3 PERCENT Y/Y Source text in Chinese: https://bit.ly/2JICMyF Further company coverage: (Reporting by Hong Kong newsroom)
Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! Stock pickers are generally looking for stocks that will outperform the broader market. And the truth is, you can m...
March 14 (Reuters) - Air China Ltd: * SAYS FEB PASSENGER CARRIED UP 6.9 PERCENT Y/Y, MAIL AND CARGO CARRIED DOWN 10.6 PERCENT Y/Y Source text in Chinese: https://bit.ly/2Hk2Yxk Further company coverage: ...
At Ted Stevens Anchorage International Airport (ANC), geography is all. The airport is located roughly halfway between Tokyo and New York City, and those coordinates translate into a booming cargo business. Anchorage is the fifth-largest in volume cargo airport in the world, after Dubai.
There are a number of reasons that attract investors towards large-cap companies such as Air China Limited (HKG:753), with a market cap of HK$154b. One reason being its ‘too bigRead More...
BANGKOK (AP) — A temporary closure of air space over Pakistan snarled air traffic Thursday, especially between Asia and Europe, though some airlines adjusted by rerouting their flights.
Feb 15 (Reuters) - Air China Ltd: * SAYS JAN PASSENGERS CARRIED UP 11.3 PERCENT Y/Y, MAIL AND CARGO CARRIED UP 2.0 PERCENT Y/Y Source text in Chinese: https://bit.ly/2ByrdU4 Further company coverage: (Reporting ...