Want to see HK:0357 full AI Analyst Report?
Top Page
Hainan Meilan International Airport Company
(0357)
Select Model
Select Model
Rating:44Neutral
Price Target:
HK$5.00
â–¼(-4.21% Downside)
Action:Reiterated
Date:08/27/26
The score is held down primarily by weak and inconsistent profitability (net losses in 2022–2025) alongside rising leverage, which is a key risk for a capital-intensive, cyclical business. Technicals are mixed with longer-term downtrend signals versus modest near-term stabilization. Positive operating and free cash flow in 2022–2025 provides some resilience, but the sharp free-cash-flow decline in 2025 and loss-driven negative P/E limit the overall rating.
Positive Factors
Positive Cash Generation
Positive operating and free cash flow despite recent accounting losses provides internal funding for airport operations and capital needs. This supports liquidity and reduces reliance on external financing, although the trend remains exposed to operating and capital-spending volatility.
Negative Factors
Persistent Net Losses
Multi-year net losses and negative operating profit indicate that the airport’s current revenue base is not covering its cost structure. Continued losses weaken earnings visibility, constrain retained capital and reduce confidence that profitability will normalize sustainably.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive Cash Generation
Positive operating and free cash flow despite recent accounting losses provides internal funding for airport operations and capital needs. This supports liquidity and reduces reliance on external financing, although the trend remains exposed to operating and capital-spending volatility.
Read all positive factors
Hainan Meilan International Airport Company (0357) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$2.44B
Dividend Yield4.2%
Average Volume (3M)254.07K
Price to Earnings (P/E)―
Beta (1Y)0.93
Revenue Growth-0.35%
EPS Growth-38.48%
CountryHK
Employees4,115
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)-0.59
Shares Outstanding226,913,000
10 Day Avg. Volume155,200
30 Day Avg. Volume254,066
Financial Highlights & Ratios
PEG Ratio0.60
Price to Book (P/B)1.19
Price to Sales (P/S)2.26
P/FCF Ratio17.61
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$9.40Price Target Upside79.98% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.15
Revenue Forecast (FY)HK$2.09B
Hainan Meilan International Airport Company Business Overview & Revenue Model
Company Description
Hainan Meilan International Airport Company Limited, along with its associated entities, oversees both aviation and commercial activities at Haikou Meilan International Airport, located in Haikou, People's Republic of China. The company's core avi...
How the Company Makes Money
The company makes money through a mix of aeronautical and non-aeronautical revenue streams tied to airport traffic volume (passengers, aircraft movements, and cargo) and the commercial utilization of airport property.
1) Aeronautical revenue (air...
Hainan Meilan International Airport Company Financial Statement Overview
Summary
Income Statement
26
Negative
Balance Sheet
44
Neutral
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.01B | 2.17B | 2.09B | 1.14B | 1.61B |
| Gross Profit | -79.60M | 149.17M | 38.45M | 18.72M | 734.27M |
| EBITDA | 92.51M | 323.81M | 803.15M | 251.55M | 739.56M |
| Net Income | -279.00M | -381.44M | -136.01M | -155.30M | 765.13M |
Balance Sheet | |||||
| Total Assets | 9.92B | 10.98B | 11.36B | 10.64B | 11.14B |
| Cash, Cash Equivalents and Short-Term Investments | 311.15M | 541.08M | 203.65M | 119.43M | 212.12M |
| Total Debt | 3.02B | 3.74B | 3.68B | 2.12B | 2.09B |
| Total Liabilities | 6.12B | 6.93B | 7.12B | 6.23B | 6.57B |
| Stockholders Equity | 3.81B | 4.06B | 4.27B | 4.41B | 4.53B |
Cash Flow | |||||
| Free Cash Flow | 258.13M | 304.30M | 200.14M | 65.12M | 511.15M |
| Operating Cash Flow | 355.48M | 729.89M | 526.94M | 174.04M | 828.19M |
| Investing Cash Flow | -97.23M | -425.52M | -326.69M | -106.22M | -316.38M |
| Financing Cash Flow | -526.03M | 33.06M | -116.02M | -125.86M | -592.03M |
Hainan Meilan International Airport Company Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | HK$3.87B | 4.81 | 5.30% | 7.04% | -20.53% | 27.52% | |
70 Outperform | HK$4.78B | 19.35 | 1.37% | 9.25% | 0.54% | -12.72% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
50 Neutral | HK$2.79B | 7.42 | 8.31% | 8.63% | -1.71% | 38.16% | |
46 Neutral | HK$112.77B | -44.08 | -4.67% | 1.03% | 10.90% | -354.38% | |
46 Neutral | HK$7.05B | -13.68 | -3.43% | 5.39% | 5.94% | 61.47% | |
44 Neutral | HK$2.44B | -7.72 | -7.26% | 4.20% | -0.35% | -38.48% |
* Industrials Sector Average
HK:0357
Hainan Meilan International Airport Company
5.25
-5.25
-50.00%
HK:0753
Air China
3.83
-1.38
-26.44%
HK:0694
Beijing Capital International Airport Co
1.53
-1.34
-46.68%
HK:1848
China Aircraft Leasing Group Holdings
3.71
-0.61
-14.04%
HK:3382
Tianjin Port Development Holdings
0.62
-0.05
-7.38%
HK:0062
Transport International Holdings Limited
8.65
-1.34
-13.42%
Hainan Meilan International Airport Company Corporate Events
Hainan Meilan Airport Restructures Equity and Novates Duty-Free Franchise as Connected Deals
Aug 21, 2026
Hainan Meilan International Airport Company Limited has agreed to sell an equity interest held by its subsidiary Ruigang Logistics to fellow group company Hainan Airport Development, formalising an intragroup restructuring that qualifies as both a...
Hainan Meilan Airport Narrows Interim Loss as Traffic and Revenue Edge Higher
Aug 21, 2026
Hainan Meilan International Airport Company Limited reported interim results for the six months to 30 June 2026 showing modest revenue growth, with total revenue rising to RMB1.09 billion driven by both aeronautical and non-aeronautical businesses...
Hainan Meilan Airport Seeks Shareholder Approval for Articles Overhaul
Aug 21, 2026
Hainan Meilan International Airport Company Limited, a Hong Kong-listed joint stock company operating airport and related services in Hainan Province, is governed by a diversified board including executive, non-executive, independent and employee ...
Hainan Meilan Airport Board Sets August Meeting to Review Interim Results and Dividend
Aug 11, 2026
Hainan Meilan International Airport Company’s board has scheduled a meeting for 21 August 2026 to review and approve the group’s interim results for the six months ended 30 June 2026. The directors will also consider the declaration of...
Hainan Meilan Airport Wins Shareholder Backing for Procurement Framework
Aug 6, 2026
Shareholders of Hainan Meilan International Airport Company Limited have approved an ordinary resolution at an extraordinary general meeting held on 6 August 2026. The resolution ratifies the Hainan Airport Procurement Framework Agreement, includi...
Hainan Meilan Airport Outlines Board and Committee Structure
Jul 23, 2026
Hainan Meilan International Airport Company Limited has announced the current composition of its board of directors, which includes executive, non-executive, independent non-executive, and an employee director, with Chairman Wang Hong and Presiden...
Hainan Meilan Airport’s Controlling Shareholder Pledges Quarter of Equity for M&A Loan
Jul 21, 2026
Hainan Meilan International Airport Company Limited disclosed that its controlling shareholder, Hainan Airport Infrastructure Co., Ltd., has pledged 118,750,000 unlisted domestic shares as collateral to several mainland Chinese banks. These shares...
Hainan Meilan Airport Calls August EGM to Approve Procurement and Connected Deals
Jul 15, 2026
Hainan Meilan International Airport Company Limited has convened an extraordinary general meeting for 6 August 2026 in Haikou, Hainan, to seek shareholder approval and ratification of the Hainan Airport Procurement Framework Agreement. The meeting...
Hainan Meilan Airport Further Delays Shareholder Circular on Connected Deals
Jun 30, 2026
Hainan Meilan International Airport Company has announced another postponement in sending a shareholder circular related to framework agreements and continuing connected transactions. The document, which will detail non-exempt connected dealings a...
Hainan Meilan Airport Sets Detailed Audit Committee Mandate to Strengthen Oversight
Jun 23, 2026
Hainan Meilan International Airport Company Limited has detailed the terms of reference and procedures for its Board’s Audit Committee, defining it as a special committee that also exercises powers comparable to a supervisory board under Chi...
Hainan Meilan Airport Tightens Governance With New Remuneration Committee Mandate
Jun 23, 2026
Hainan Meilan International Airport Company Limited has formalised detailed terms of reference for its Board Remuneration Committee, defining its authority over pay policies for directors and senior management, including salary structure, benefits...
Hainan Meilan Airport Sets Formal Mandate for Board Nomination Committee
Jun 23, 2026
Hainan Meilan International Airport Company has formalized the terms of reference and procedures for its Board Nomination Committee, detailing its authority to oversee board structure, composition, and succession planning. The committee is tasked ...
Hainan Meilan Airport Further Delays Circular on Connected Transactions
Jun 18, 2026
Hainan Meilan International Airport Company Limited operates an international airport in Hainan Province, China, providing aviation infrastructure and related services. Listed in Hong Kong under stock code 357, it is governed by a diversified boar...
Hainan Meilan Airport Further Delays Circular on Connected Transactions
Jun 5, 2026
Hainan Meilan International Airport Company has announced a further delay in sending a shareholder circular related to framework agreements and non-exempt continuing connected transactions. The circular, which will include details of these transac...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.