- RE-ITEREATE Buy Entry – 21.2 Target – 25.5 Stop Loss – 19.2
- Hainan Meilan International Airport Company Limited, formerly Regal International Airport Group Company Limited, is a Hong Kong-based investment holding company principally engaged in aviation and related businesses. The Company operates through aeronautical businesses and non-aeronautical businesses. Its aeronautical businesses include the provision of terminal facilities, ground handling services and passenger services. Its non-aeronautical businesses include the leasing of commercial and retail spaces at Meilan Airport, airport-related businesses franchising, advertising spaces leasing, car parking businesses, cargo handling and the sales of consumable goods.
- The second China International Consumer Products Expo opened. The Expo runs from 25th to 30th July in Haikou, the capital city of Hainan province. It will host 2,800 local and international brands, and more than 100 events will be held on the sidelines of the expo. The provincial government announced to release RMB100mn worth of consumer voucher, 60%/30%/10% of which is allocated to the consumption of offshore duty-free goods/food & beverage and retail goods/home appliance.
- Duty-Free Shopping Festival kick started. On 28th June, The first Hainan International Offshore Duty-Free Shopping Festival was launched in Sanya. The international tourism island sets to hold more than 50 promotional events during the half-year festival period to boost the recovery of duty-free shopping.
- The updated market consensus of the EPS growth in FY22/23 is -73.4%/207.5% YoY, respectively, translating to 44.0×/14.3x forward PE. The current PER is 11.7x. Bloomberg consensus average 12-month target price is HK$25.43.
(Source: Bloomberg)