Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>AI / In Depth: The opportunities and roadblocks facing China’s AI models</li><li>Li Keqiang /: Li Keqiang’s remains to be cremated in Beijing on Thursday</li><li>China-U.S. /: California Governor Newsom visit boosts U.S.-China relations, climate collaboration</li></ul>

AI / In Depth: The opportunities and roadblocks facing China’s AI modelsLi Keqiang /: Li Keqiang’s remains to be cremated in Beijing on ThursdayChina-U.S. /: California Governor Newsom visit boosts U.S.-China relations, climate collaboration

CX Daily: The Opportunities and Roadblocks Facing China’s AI Models 

<ul>
<li>Family / Cover Story: China’s family-run businesses face succession issues </li>
<li>China-U.S. /: China, U.S. ‘working together’ on Biden-Xi meeting at APEC next month</li>
<li>Personnel /: Communist Party names new economic czar</li>
</ul>


Family / Cover Story: China’s family-run businesses face succession issues 
China-U.S. /: China, U.S. ‘working together’ on Biden-Xi meeting at APEC next month
Personnel /: Communist Party names new economic czar


CX Daily: China’s Family-Run Businesses Face Succession Issues 

HK/China Equity Long-Short

Osbert Tang, CFA

Thematic (Sector/Industry)

<ul>
<li>The underperformance of Chinese airlines looks unjustified to us, especially in view of the significant narrow-down in losses in 2Q23, particularly for <a href="https://www.smartkarma.com/entities/air-china-ltd-h" target="_blank" data-smartkarma-citation="entities:8239:1" rel="noopener">Air China Ltd (753 HK)</a>. </li>
<li>While domestic passenger capacity has fully recovered, international capacity is still more than 50% below Jun 2019. We anticipate its recovery will drive profitability over the next 12 months.</li>
<li>We prefer <a href="https://www.smartkarma.com/entities/air-china-ltd-h" target="_blank" data-smartkarma-citation="entities:8239:1" rel="noopener">Air China Ltd (753 HK)</a> given its excellent leverage to international routes and exposure to <a href="https://www.smartkarma.com/entities/cathay-pacific-airways-ltd" target="_blank" data-smartkarma-citation="entities:243:1" rel="noopener">Cathay Pacific Airways (293 HK)</a>. Its FY24F ROE of 45% is impressive too. </li>
</ul>


The underperformance of Chinese airlines looks unjustified to us, especially in view of the significant narrow-down in losses in 2Q23, particularly for Air China Ltd (753 HK). 
While domestic passenger capacity has fully recovered, international capacity is still more than 50% below Jun 2019. We anticipate its recovery will drive profitability over the next 12 months.
We prefer Air China Ltd (753 HK) given its excellent leverage to international routes and exposure to Cathay Pacific Airways (293 HK). Its FY24F ROE of 45% is impressive too. 


Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

<ul>
<li>In May, the recovery in outbound travel remained strong, but not surprisingly so</li>
<li>Meanwhile, improvement in domestic travel activity appears to have lost steam</li>
<li>Six months in, we simply do not see any positive surprises in the travel boom</li>
</ul>


In May, the recovery in outbound travel remained strong, but not surprisingly so
Meanwhile, improvement in domestic travel activity appears to have lost steam
Six months in, we simply do not see any positive surprises in the travel boom


Monthly Chinese Tourism Tracker | Outbound Firmer | Domestic Losing Steam | No Surprises (June 2023)

<ul><li>Tobacco / Cover Story: China’s tobacco monopoly is swept up in corruption probes</li><li>Workers / Eastern province eases upper age limit for construction workers amid labor shortage</li><li>Moon / China plans first crewed moon landing by 2030</li></ul>

Tobacco / Cover Story: China’s tobacco monopoly is swept up in corruption probesWorkers / Eastern province eases upper age limit for construction workers amid labor shortageMoon / China plans first crewed moon landing by 2030

CX Daily: China’s Tobacco Monopoly Is Swept Up in Corruption Probes

China

China Eastern Airlines Corporation Limited operates airline businesses. The Company provides passenger transport, air freight, air catering, and other related services. China Eastern Airlines conducts businesses worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

China Eastern Airlines Lt (600115 CH)

CX Daily: The Opportunities and Roadblocks Facing China’s AI Models

AI / In Depth: The opportunities and roadblocks facing China’s AI models Since Beijing lifted the floodgates for Chinese firms to launch their...

Caixin Global

CX Daily: China’s Family-Run Businesses Face Succession Issues

Family / Cover Story: China’s family-run businesses face succession issues China’s economic boom over the past four decades has driven the...

Caixin Global

Chinese Airlines: Taking off Again

The underperformance of Chinese airlines is unjustified. Recovery of international routes over the next 12 months and exposure to Cathay Pacific...

Osbert Tang, CFA

Monthly Chinese Tourism Tracker | Outbound Firmer | Domestic Losing Steam | No Surprises (June 2023)

The recovery in outbound travel remained strong in May, and domestic activity also continued to improve, though it appears to be losing some...

Tracking Traffic

CX Daily: China’s Tobacco Monopoly Is Swept Up in Corruption Probes

Cover Story: China’s tobacco monopoly is swept up in corruption probes. Eastern province eases upper age limit for construction workers amid labor...

Caixin Global

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)