Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Pei Peimin was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Apr 12
Spring Airlines Co., Ltd. (SHSE:601021) announces an Equity Buyback for CNY 500 million worth of its shares. Spring Airlines Co., Ltd. (SHSE:601021) announces a share repurchase program. Under the program, the company will repurchase up to CNY 500 million worth of its A shares. The shares will be repurchased at a price of not more than CNY 65 per share. The purpose of program is to maintain the Company’s value and shareholder rights, which will be sold 12 months after the completion of the repurchase. Shares not sold will be cancelled. The program will be funded out of the company's own funds and Self-Financing. The program will be valid for 12 months. Aankondiging • Mar 30
Spring Airlines Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Spring Airlines Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Aankondiging • Dec 26
Spring Airlines Co., Ltd. to Report Fiscal Year 2025 Results on Apr 11, 2026 Spring Airlines Co., Ltd. announced that they will report fiscal year 2025 results on Apr 11, 2026 Aankondiging • Sep 30
Spring Airlines Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Spring Airlines Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Aankondiging • Jun 30
Spring Airlines Co., Ltd. to Report First Half, 2025 Results on Aug 29, 2025 Spring Airlines Co., Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Aankondiging • May 20
Spring Airlines Co., Ltd., Annual General Meeting, Jun 10, 2025 Spring Airlines Co., Ltd., Annual General Meeting, Jun 10, 2025, at 14:00 China Standard Time. Location: Office Building, No. 2599, Hongqiao Road, Changning District, Shanghai China Aankondiging • Mar 28
Spring Airlines Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Spring Airlines Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Aankondiging • Dec 27
Spring Airlines Co., Ltd. to Report Fiscal Year 2024 Results on Apr 30, 2025 Spring Airlines Co., Ltd. announced that they will report fiscal year 2024 results on Apr 30, 2025 Aankondiging • Nov 06
Spring Airlines Co., Ltd. (SHSE:601021) announces an Equity Buyback for 5,000,000 shares, representing 0.51% of its issued share capital. Spring Airlines Co., Ltd. (SHSE:601021) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 A shares, representing 0.51% of its issued share capital. The shares will be repurchased at a price of not more than CNY 60 per share. The shares purchased will be used for the company's employee stock ownership plans or equity incentives or to convert company convertible bonds, for Reduction of registered capital and to protect the company's value and shareholders' rights. The program will be funded out of the company's own funds. The program will be valid for 12 months. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥1.28 (vs CN¥1.87 in 3Q 2023) Third quarter 2024 results: EPS: CN¥1.28 (down from CN¥1.87 in 3Q 2023). Revenue: CN¥6.10b (flat on 3Q 2023). Net income: CN¥1.24b (down 32% from 3Q 2023). Profit margin: 20% (down from 30% in 3Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥52.59, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 10x in the Airlines industry in Asia. Total loss to shareholders of 8.5% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥76.89 per share. Aankondiging • Sep 30
Spring Airlines Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Spring Airlines Co., Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥58.80, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 10x in the Airlines industry in Asia. Total returns to shareholders of 9.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥71.69 per share. Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.56 (vs CN¥0.50 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.56 (up from CN¥0.50 in 2Q 2023). Revenue: CN¥4.71b (up 13% from 2Q 2023). Net income: CN¥550.7m (up 14% from 2Q 2023). Profit margin: 12% (in line with 2Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Aankondiging • Jun 28
Spring Airlines Co., Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Spring Airlines Co., Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Aankondiging • Jun 06
Spring Airlines Co., Ltd., Annual General Meeting, Jun 25, 2024 Spring Airlines Co., Ltd., Annual General Meeting, Jun 25, 2024, at 14:00 China Standard Time. Location: 2F, Building 2, No. 528, Konggang 1st Road, Changning District, Shanghai China Reported Earnings • Apr 30
Full year 2023 earnings released: EPS: CN¥2.31 (vs CN¥3.30 loss in FY 2022) Full year 2023 results: EPS: CN¥2.31 (up from CN¥3.30 loss in FY 2022). Revenue: CN¥17.9b (up 114% from FY 2022). Net income: CN¥2.26b (up CN¥5.29b from FY 2022). Profit margin: 13% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Aankondiging • Mar 29
Spring Airlines Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Spring Airlines Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Aankondiging • Dec 30
Spring Airlines Co., Ltd. to Report Fiscal Year 2023 Results on Apr 30, 2024 Spring Airlines Co., Ltd. announced that they will report fiscal year 2023 results on Apr 30, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥1.87 (vs CN¥0.54 loss in 3Q 2022) Third quarter 2023 results: EPS: CN¥1.87 (up from CN¥0.54 loss in 3Q 2022). Revenue: CN¥6.07b (up 106% from 3Q 2022). Net income: CN¥1.84b (up CN¥2.33b from 3Q 2022). Profit margin: 30% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Aankondiging • Sep 30
Spring Airlines Co., Ltd. to Report Q3, 2023 Results on Oct 31, 2023 Spring Airlines Co., Ltd. announced that they will report Q3, 2023 results on Oct 31, 2023 Aankondiging • Sep 01
Spring Airlines Co., Ltd. (SHSE:601021) announces an Equity Buyback for CNY 100 million worth of its shares. Spring Airlines Co., Ltd. (SHSE:601021) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of class shares. The shares will be repurchased at a price of not more than CNY 58 per share. The shares purchased will be used for the company's employee stock ownership plans. The program will be funded out of the company's own funds. The program will be valid for 12 months. Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.50 (vs CN¥0.88 loss in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.50 (up from CN¥0.88 loss in 2Q 2022). Revenue: CN¥4.17b (up 222% from 2Q 2022). Net income: CN¥482.8m (up CN¥1.29b from 2Q 2022). Profit margin: 12% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Aankondiging • Jun 28
Spring Airlines Co., Ltd. to Report First Half, 2023 Results on Aug 31, 2023 Spring Airlines Co., Ltd. announced that they will report first half, 2023 results on Aug 31, 2023 Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: CN¥0.36 (vs CN¥0.48 loss in 1Q 2022) First quarter 2023 results: EPS: CN¥0.36 (up from CN¥0.48 loss in 1Q 2022). Revenue: CN¥3.86b (up 64% from 1Q 2022). Net income: CN¥355.6m (up CN¥792.6m from 1Q 2022). Profit margin: 9.2% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 33% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 130 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Ming Jin was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 30
Third quarter 2022 earnings released: CN¥0.54 loss per share (vs CN¥0.20 profit in 3Q 2021) Third quarter 2022 results: CN¥0.54 loss per share (down from CN¥0.20 profit in 3Q 2021). Revenue: CN¥2.95b (down 7.3% from 3Q 2021). Net loss: CN¥491.8m (down 431% from profit in 3Q 2021). Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 127 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 03
Second quarter 2022 earnings released: CN¥0.88 loss per share (vs CN¥0.25 profit in 2Q 2021) Second quarter 2022 results: CN¥0.88 loss per share (down from CN¥0.25 profit in 2Q 2021). Revenue: CN¥1.29b (down 60% from 2Q 2021). Net loss: CN¥808.5m (down 374% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 59%, compared to a 69% growth forecast for the Airlines industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 116 percentage points per year, which is a significant difference in performance. Buying Opportunity • Jun 22
Now 20% undervalued Over the last 90 days, the stock is up 6.2%. The fair value is estimated to be CN¥62.33, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 02
First quarter 2022 earnings released: CN¥0.48 loss per share (vs CN¥0.31 loss in 1Q 2021) First quarter 2022 results: CN¥0.48 loss per share (down from CN¥0.31 loss in 1Q 2021). Revenue: CN¥2.36b (up 6.2% from 1Q 2021). Net loss: CN¥437.0m (loss widened 54% from 1Q 2021). Over the next year, revenue is forecast to grow 39%, compared to a 57% growth forecast for the industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Ming Jin was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Sep 01
Second quarter 2021 earnings released: EPS CN¥0.25 (vs CN¥0.20 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥3.23b (up 95% from 2Q 2020). Net income: CN¥295.2m (up CN¥476.5m from 2Q 2020). Profit margin: 9.1% (up from net loss in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Reported Earnings • May 02
First quarter 2021 earnings released: CN¥0.31 loss per share (vs CN¥0.25 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: CN¥2.22b (down 6.8% from 1Q 2020). Net loss: CN¥284.8m (loss widened 25% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 26
New 90-day high: CN¥65.15 The company is up 25% from its price of CN¥52.06 on 27 November 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Airlines industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥2.53 per share. Is New 90 Day High Low • Jan 26
New 90-day high: CN¥58.49 The company is up 34% from its price of CN¥43.56 on 29 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Airlines industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥2.61 per share. Is New 90 Day High Low • Dec 16
New 90-day high: CN¥54.00 The company is up 10.0% from its price of CN¥48.92 on 18 September 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Airlines industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥1.60 per share. Is New 90 Day High Low • Nov 18
New 90-day high: CN¥50.50 The company is up 15% from its price of CN¥43.74 on 20 August 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Airlines industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥1.88 per share. Reported Earnings • Nov 01
Third quarter earnings released Over the last 12 months the company has reported total losses of CN¥27.0m, with earnings decreasing by CN¥1.84b from the prior year. Total revenue was CN¥10.1b over the last 12 months, down 31% from the prior year. Analyst Estimate Surprise Post Earnings • Nov 01
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 6.9% at CN¥2.78b. Revenue is forecast to grow 44% over the next year, compared to a 3.7% decline forecast for the Airlines industry in China. 
