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▲ Cathay Pacific Airways said in an analyst meeting last week that Starport Travel Bubble had already sold out tickets in the first few weeks
Hong Kong is facing the fourth wave of epidemic risk. The number of confirmed cases from unknown sources continues to increase. Another 73 new cases were added on Monday, and 8 cases were infections from unknown sources. The “Air Travel Bubble” in Hong Kong and Singapore was originally supposed to be launched on November 22, but has been postponed due to the rebound of the Hong Kong outbreak. Cathay Pacific’s share price (00293) came under pressure on Monday. 100 million yuan.
The implementation of the air travel bubble has failed. After Cathay Pacific held a meeting with analysts last week, some investment banks downgraded their investment ratings. Daiwa’s latest announcement indicated that Cathay Pacific held a meeting with analysts on Friday. Weekly tickets are sold out, but it is reiterated that passenger demand is not expected to return to pre-epidemic levels until 2024. In response to the latest share price rebound, Yamato downgraded Cathay Pacific’s investment rating from buy to hold and the target price was increased from 6.8 yuan to 7 yuan.
Furui pointed out that the Xinggang tourism bubble has been delayed by two weeks and believes it has had a slight impact on Cathay Pacific’s current passenger capacity. The measures were originally intended as a sample of other tourism bubbles and that current Cathay Pacific passenger transport “has no revival or surprises”.
Jefferies quoted Cathay Pacific as saying the company is applying to operate most of the original Cathay Dragon flights. There are still 83 passenger aircraft parked on the ground for a long time, accounting for around 45% of the passenger fleet. The group will decommission 29 passenger aircraft during the year. More than 24 companies have announced their results. Jefferies slightly lowered its target price from RMB 0.2 to RMB 8.5, with a buy valuation.
Hong Kong TV increased 7%
Hong Kong TV (01137), which runs HKTVmall, once rose 7.4% to 13.28 yuan, before hitting a record high. Hong Kong TV’s share price rebounded after the period, closing at 12.74 yuan, up 3%, and revenue was 236 million yuan.
In terms of shares that have benefited from the news of the outbreak in the past, CEC International (00759) was up 5.2% over the day to bring in 0.79 yuan, with revenues of 4.97 million; Nissin Foods (01475) once grew by nearly half and closed 1.7% at 7.02 yuan, with a 76.3 million yuan transaction.
As for retail inventories, Lifestyle International (01212) fell by 1.6%; Chow Tai Fook (01929) fell 1.2%; on food and beverage stocks, Big Happy (00052) rose 1.8; Café de Coral (00341) fell by 4.6%.
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Responsible editor: Xie Zhuorong
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