Greater China Equity Long/Short Analyst

Eric Chen

With a blend of sell-side and buy-side perspectives, Eric has covered and researched hundreds of Greater China equities in TMT and consumer spaces - two sectors woven together by the overarching thesis of technology empowering consumption. 

Eric is highly experienced in fundamental equity long short strategy. He seeks to produce differentiated and original research that combines holistic qualitative framework, unique angles and robust modelling. The process helps gain deep insights into critical value drivers misunderstood by the market, which results in mis-priced stocks and hence long/short opportunities.

Meilan Airport (357 HK): Higher Visibility into Earnings Recovery Outlook

Meilan Airport (357 HK): Positive on The Only China Airport Trading Below Book Value

Hainan Meilan's (357 HK)'s Arbitration Case Is Not Without Merit

Meilan Airport (357 HK): A Strategic Asset to Ride on Hainan DFS Investment Theme

Equity Bottom-Up

Hainan Meilan International Airport / Equity Bottom-Up

Hainan Meilan International Airport (357 HK)

<ul>
<li>Meilan Airport issued a profit warning last night expecting a net loss of not more than RMB280 million for 2022. </li>
<li>While the magnitude of loss surprised us, positive share price reaction suggests investors are ready to look beyond.</li>
<li>We incorporate both higher passenger throughput and financial expenses estimate in our model and trim our net profit forecast for 2023 from RMB600 million to RMB500 million. Maintain Buy. </li>
</ul>


Meilan Airport issued a profit warning last night expecting a net loss of not more than RMB280 million for 2022. 
While the magnitude of loss surprised us, positive share price reaction suggests investors are ready to look beyond.
We incorporate both higher passenger throughput and financial expenses estimate in our model and trim our net profit forecast for 2023 from RMB600 million to RMB500 million. Maintain Buy. 


Meilan Airport (357 HK): Profit Warning Removed Share Price Overhang