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.

Equity Bottom-Up

Hainan Meilan International Airport / Equity Bottom-Up

Hainan Meilan International Airport (357 HK)

<ul>
<li>Strong passenger traffic year-to-date indicates that full-year passenger throughput for 2023 will be on par with 2019.</li>
<li>Concerns that China resuming outbound travel could turn domestic tourists away from Hainan are overblown, overlooking the huge pent-up leisure travel demand over last three years.</li>
<li>We expect investors will focus on pace and sustainability of the recovery when company announces 2022 results. Being eligible for Stock Connect Program in 2023 will be a key catalyst. </li>
</ul>


Strong passenger traffic year-to-date indicates that full-year passenger throughput for 2023 will be on par with 2019.
Concerns that China resuming outbound travel could turn domestic tourists away from Hainan are overblown, overlooking the huge pent-up leisure travel demand over last three years.
We expect investors will focus on pace and sustainability of the recovery when company announces 2022 results. Being eligible for Stock Connect Program in 2023 will be a key catalyst. 


Meilan Airport (357 HK): Takeaway from Recent Passenger Throughput