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China Southern Airlines Co Ltd Class H 01055

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Stock XHKG Rating as of
HKD 2.98 +0.03 (1.02%)
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As of Delayed Price Closed
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Company Report

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China Southern Airlines Remained Lossmaking in 2023

Cheng Wang

Despite being the largest airline in China, China Southern Airlines has long been disadvantaged among the Big Three Chinese airlines. Compared with Air China and China Eastern Airlines, each holding Beijing and Shanghai markets, China Southern primarily operates out of Guangzhou. Guangzhou attracts a lower percentage of business traffic than Beijing and Shanghai. Besides, Guangzhou as an aviation hub in the Greater Bay Area faces intense competition from Shenzhen and Hong Kong, while Beijing and Shanghai each dominate their respective region. As a result, China Southern’s passenger yields have been the lowest among the three Chinese airlines.

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Price vs Fair Value

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01055 is trading within a range we consider fairly valued.
Price
HKD 2.95
Fair Value
HKD 5.80
Uncertainty
High
1-Star Price
HKD 1.82
5-Star Price
HKD 1.98
Economic Moat
Vpn
Capital Allocation
Wjgfbxz

Bulls Say, Bears Say

Bulls

China Southern will see a strong earnings rebound as China ends its zero-COVID-19 policy.

Bears

Yuan depreciation damps China Southern's earnings.

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News

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Trading Information

Previous Close Price
HKD 2.95
Day Range
HKD 2.90–2.99
52-Week Range
HKD 2.54–4.96
Bid/Ask
HKD 2.96 / HKD 2.98
Market Cap
HKD 54.00 Bil
Volume/Avg
4.6 Mil / 11.3 Mil

Key Statistics

Price/Earnings (Normalized)
—
Price/Sales
0.29
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
—

Company Profile

China Southern Airlines is based in Guangzhou and is one of the three largest state-owned airlines in China. The group operated a fleet of 894 aircraft as of 2022 and carried more than 150 million passengers in prepandemic 2019, ranking first in Asia. It runs a spoke-and-hub model under which it gathers and distributes passengers from air hubs like Guangzhou and Beijing. The group's route network extends to over 243 destinations and 44 countries and regions.
Sector
Industrials
Industry
Airlines
Stock Style Box
Large Growth
Total Number of Employees
99,468
Website
https://www.csair.com

Competitors

Valuation

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Metric
01055
C6L
00293
Price/Earnings (Normalized)
 —11.718.26
Price/Book Value
 1.291.410.87
Price/Sales
 0.291.090.63
Price/Cash Flow
 1.204.403.10
Price/Earnings
01055
C6L
00293

Financial Strength

Metric
01055
C6L
00293
Quick Ratio
 0.151.080.47
Current Ratio
 0.221.230.50
Interest Coverage
 1.407.093.60
Quick Ratio
01055
C6L
00293

Profitability

Metric
01055
C6L
00293
Return on Assets (Normalized)
 −0.14%5.83%3.95%
Return on Equity (Normalized)
 −1.10%17.74%12.62%
Return on Invested Capital (Normalized)
 0.40%12.55%7.54%
Return on Assets
01055
C6L
00293
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