Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/travelsky-technology-ltd-h" target="_blank" data-smartkarma-citation="entities:19829:1" rel="noopener">Travelsky Technology Ltd H (696 HK)</a> share price has recovered by 25% since January 2024 sell off</li>
<li>CNY travel data indicates a huge potential of revenue increase for Travelsky.</li>
<li>At 18x PER, Travelsky has become a bargain in the travel sector that is clearly rebounding. </li>
</ul>



Travelsky Technology Ltd H (696 HK) share price has recovered by 25% since January 2024 sell off
CNY travel data indicates a huge potential of revenue increase for Travelsky.
At 18x PER, Travelsky has become a bargain in the travel sector that is clearly rebounding. 


Travelsky (696 HK): Big Jan and Feb so Far

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>By one metric, outbound tourism in December improved to 89% of 2019 levels</li>
<li>Meanwhile, domestic activity in December remained close to pre-Covid levels</li>
<li>In this month's edition we track the tourism recovery in ten illustrative charts</li>
</ul>


By one metric, outbound tourism in December improved to 89% of 2019 levels
Meanwhile, domestic activity in December remained close to pre-Covid levels
In this month's edition we track the tourism recovery in ten illustrative charts


Monthly Chinese Tourism Tracker | China's 2023 Recovery in Ten Charts | (January 2024)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/travelsky-technology-ltd-h" target="_blank" data-smartkarma-citation="entities:19829:1" rel="noopener">Travelsky Technology Ltd H (696 HK)</a> share price was unjustly sold off due to flows rather than operational performance.</li>
<li>The key business is processing flights for <strong>domestic</strong> tourism, with a lesser correlation to geopolitical issues.</li>
<li>Due to the strong earnings growth, PER is adjusted from 60x to 25x. </li>
</ul>



Travelsky Technology Ltd H (696 HK) share price was unjustly sold off due to flows rather than operational performance.
The key business is processing flights for domestic tourism, with a lesser correlation to geopolitical issues.
Due to the strong earnings growth, PER is adjusted from 60x to 25x. 


<ul>
<li>Visa-Free travel for Chinese tourists is certainly a boost for the <a href="https://www.smartkarma.com/entities/airports-of-thailand-pcl" target="_blank" data-smartkarma-citation="entities:239:1" rel="noopener">Airports of Thailand (AOT TB)</a> .</li>
<li>Compared to 2019 operational numbers, the 2023 number is still very low despite the large YoY gain thanks to the low base in 2022. </li>
<li>The valuation is still high as the share price has run ahead of its fundamentals.</li>
</ul>


Visa-Free travel for Chinese tourists is certainly a boost for the Airports of Thailand (AOT TB) .
Compared to 2019 operational numbers, the 2023 number is still very low despite the large YoY gain thanks to the low base in 2022. 
The valuation is still high as the share price has run ahead of its fundamentals.


Airport of Thailand (AOT): Not the Right Time

<ul>
<li>Share price of <a href="https://www.smartkarma.com/entities/travelsky-technology-ltd-h" target="_blank" data-smartkarma-citation="entities:19829:1" rel="noopener">Travelsky Technology Ltd H (696 HK)</a> is still down YTD as investors are still overly cautious on Chinese travel data. </li>
<li>YTD operational data shows that the number of flights processed is very close to the pre-COVID era. </li>
<li>The company announced a profit alert recently, that should help to boost share price. </li>
</ul>


Share price of Travelsky Technology Ltd H (696 HK) is still down YTD as investors are still overly cautious on Chinese travel data. 
YTD operational data shows that the number of flights processed is very close to the pre-COVID era. 
The company announced a profit alert recently, that should help to boost share price. 


China

TravelSky Technology Ltd. is a dominant provider of information technology solutions for China's aviation and travel industry. It offers electronic travel distribution, airport passenger processing, and settlement and clearing services for airlines, airports, and travel agencies. The company is headquartered in Beijing, China, and was incorporated in 2000.

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TravelSky Technology (696 HK)

Travelsky (696 HK): Big Jan and Feb so Far

At 18x PER, Travelsky clearly is trading at undemanding valuation. The large growth of tourists coming during CNY also indicates that the potential...

Henry Soediarko

Monthly Chinese Tourism Tracker | China's 2023 Recovery in Ten Charts | (January 2024)

In this insight we document China's ongoing recovery in outbound and domestic tourism demand by sharing with readers ten illustrative charts.

Tracking Traffic

Travelsky (696): Cheaper Now

Travelsky share price is cheaper now due to the strong earnings growth. With a focus on domestic tourism, it is set to further benefit from this...

Henry Soediarko

Airport of Thailand (AOT): Not the Right Time

As the Thai government issues a visa-free policy for Chinese tourists, it is expected that AOT will benefit but its share price has run ahead of...

Henry Soediarko

Travelsky (696): Time to Fly

Travelsky, a good proxy to Chinese tourism recovery besides Ctrip, has reported a profit alert, and the share price is still down YTD, presenting a...

Henry Soediarko

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