Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Monthly Chinese Tourism Tracker | Outbound Recovery Sluggish, but Trip.com Too Cheap | (July 2024)

Monthly Chinese Tourism Tracker | Outbound Activity Approaches Pre-Covid Levels | (August 2024)

Trip.com Q224: Slower Growth | But Higher Margins | Competition Has Eased | BUY with US$58 Target

Monthly Chinese Tourism Tracker | Outbound Recovery Continues, but Some Regional Destinations Lag

Trip.com Q124 Review: Solid Top-Line Growth | Progress on Margins | BUY Below US$50

Monthly Chinese Tourism Tracker | Outbound Grinds Forward | Domestic Weakness Not New | (May 2024)

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Equity Bottom-Up

<ul>
<li>Growth of outbound Chinese travel demand strong in May as HK, Macau slow</li>
<li>Domestic travel demand also showed solid growth in May and early June</li>
<li>Trip.com appears reasonably cheap now that it's dipped below US$50, BUY</li>
</ul>


Growth of outbound Chinese travel demand strong in May as HK, Macau slow
Domestic travel demand also showed solid growth in May and early June
Trip.com appears reasonably cheap now that it's dipped below US$50, BUY


Mandarin Oriental International (MAND SP)

Beijing Capital International Airport (BCIA) (694 HK)

Beijing Capital International Airport (BCIA)

Monthly Chinese Tourism Tracker | Outbound Recovery Expands | Domestic Solid Too | (June 2024)