Major Estimate Revision • May 07
Consensus EPS estimates increase by 18%, revenue downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from CN¥25.1b to CN¥24.7b. EPS estimate rose from CN¥1.87 to CN¥2.20. Net income forecast to shrink 9.6% next year vs 7.7% decline forecast for Airlines industry in China. Consensus price target broadly unchanged at CN¥62.00. Share price was steady at CN¥47.91 over the past week. New Risk • Apr 14
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 54% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (54% net debt to equity). Dividend is not well covered by cash flows (349% cash payout ratio). Reported Earnings • Apr 12
Full year 2025 earnings: Revenues exceed analyst expectations Full year 2025 results: Revenue: CN¥21.5b (up 7.3% from FY 2024). Net income: CN¥2.32b (up 2.0% from FY 2024). Profit margin: 11% (in line with FY 2024). Revenue exceeded analyst estimates by 1.1%. Revenue is forecast to grow 10.0% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Airlines industry in China. Announcement • 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. Major Estimate Revision • Apr 11
Consensus EPS estimates fall by 48% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from CN¥3.22 to CN¥1.68. Revenue forecast unchanged from CN¥23.8b at last update. Net income forecast to shrink 10% next year vs 54% growth forecast for Airlines industry in China . Consensus price target of CN¥63.42 unchanged from last update. Share price was steady at CN¥47.14 over the past week. Announcement • 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 Announcement • 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 Reported Earnings • Oct 31
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: CN¥1.20 (down from CN¥1.28 in 3Q 2024). Revenue: CN¥6.47b (up 6.0% from 3Q 2024). Net income: CN¥1.17b (down 6.2% from 3Q 2024). Profit margin: 18% (down from 20% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Airlines industry in China. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • 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 Reported Earnings • Aug 31
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: CN¥0.51 (down from CN¥0.56 in 2Q 2024). Revenue: CN¥4.99b (up 6.0% from 2Q 2024). Net income: CN¥491.5m (down 11% from 2Q 2024). Profit margin: 9.9% (down from 12% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) also missed analyst estimates by 32%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • 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 Announcement • 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 Buy Or Sell Opportunity • May 06
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 6.8% to CN¥55.16. The fair value is estimated to be CN¥45.50, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 67% in the next 2 years. Reported Earnings • May 03
First quarter 2025 earnings released: EPS: CN¥0.69 (vs CN¥0.83 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.69 (down from CN¥0.83 in 1Q 2024). Revenue: CN¥5.32b (up 2.9% from 1Q 2024). Net income: CN¥677.1m (down 16% from 1Q 2024). Profit margin: 13% (down from 16% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Airlines industry in Asia. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • 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 Announcement • 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 Buy Or Sell Opportunity • Dec 11
Now 21% undervalued Over the last 90 days, the stock has risen 16% to CN¥57.17. The fair value is estimated to be CN¥72.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 77% in the next 2 years. Major Estimate Revision • Nov 06
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥21.0b to CN¥20.3b. EPS estimate also fell from CN¥2.96 per share to CN¥2.61 per share. Net income forecast to grow 48% next year vs 16% growth forecast for Airlines industry in China. Consensus price target broadly unchanged at CN¥66.66. Share price was steady at CN¥57.03 over the past week. Announcement • 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: EPS exceeds analyst expectations while revenues lag behind 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 missed analyst estimates by 2.7%. Earnings per share (EPS) exceeded analyst estimates by 14%. 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 fallen by 1% per year, 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¥77.16 per share. Announcement • 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 17x. 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¥70.89 per share. Reported Earnings • Aug 31
Second quarter 2024 earnings: EPS and revenues miss analyst expectations 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 missed analyst estimates by 8.3%. Earnings per share (EPS) also missed analyst estimates by 18%. 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. Announcement • 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 Announcement • 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. Announcement • 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 Announcement • 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: EPS and revenues exceed analyst expectations 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 exceeded analyst estimates by 5.2%. Earnings per share (EPS) also surpassed analyst estimates by 70%. 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. Announcement • 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 Announcement • 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: EPS and revenues exceed analyst expectations 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 exceeded analyst estimates by 27%. Earnings per share (EPS) also surpassed analyst estimates. 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. Announcement • 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: Revenues exceed analysts expectations while EPS lags behind 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 exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 32%. 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: EPS and revenues miss analyst expectations 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 missed analyst estimates by 6.2%. Earnings per share (EPS) also missed analyst estimates by 52%. 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 02
Second quarter 2022 earnings: EPS and revenues miss analyst expectations 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). Revenue missed analyst estimates by 27%. Earnings per share (EPS) also missed analyst estimates by 89%. Over the next year, revenue is forecast to grow 61%, compared to a 65% 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. Major Estimate Revision • Aug 18
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥12.0b to CN¥11.7b. Losses expected to increase from CN¥0.88 per share to CN¥1.07. Airlines industry in China expected to see average net income decline 7.6% next year. Consensus price target broadly unchanged at CN¥60.72. Share price was steady at CN¥48.88 over the past week. Buying Opportunity • Jun 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.0%. The fair value is estimated to be CN¥58.39, 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: EPS and revenues miss analyst expectations 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). Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) were also behind analyst expectations. 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. Announcement • Feb 24
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 A 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 2 months. Announcement • Dec 13
Spring Airlines Co., Ltd.(XSSC:601021) dropped from FTSE All-World Index (USD) Spring Airlines Co., Ltd.(XSSC:601021) dropped from FTSE All-World Index (USD) Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.20 (vs CN¥0.29 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥3.18b (up 14% from 3Q 2020). Net income: CN¥148.6m (down 43% from 3Q 2020). Profit margin: 4.7% (down from 9.3% in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 31
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. Announcement • Jun 05
Spring Airlines Co., Ltd. announced that it expects to receive CNY 3.5 billion in funding Spring Airlines Co., Ltd. (SHSE:601021) announced a private placement of series A shares for not more than CNY 3,500,000,000 on June 4, 2021. The transaction will include participation from not more than 35 specific investors. The number of A shares to be issued under the issuance shall not exceed 30% of the total share capital of the company before the issuance and the number of shares to be issued under the issuance will not exceed 274,938, 813 shares. The issuance price is calculated at 80% of the average price of the stock trading on the 20 trading days before June 4, 2021. The transaction is subject to approval by the China Securities Regulatory Commission. The transaction needs to be reviewed and approved by the shareholders of the company, China Securities Regulatory Commission and from Eastern China Regional Administration of Civil Aviation of China. The transaction has been approved in the sixth meeting of the fourth board of directors of the company. The transaction has been valid for 12 months from the date of approval. Price Target Changed • Jun 02
Price target increased to CN¥69.79 Up from CN¥64.56, the current price target is an average from 14 analysts. New target price is 7.5% above last closing price of CN¥64.90. Stock is up 74% over the past year. Price Target Changed • May 07
Price target increased to CN¥61.50 Up from CN¥55.13, the current price target is an average from 13 analysts. New target price is approximately in line with last closing price of CN¥63.37. Stock is up 80% over the past year. 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 25
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 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Airlines industry, which is up 7.0% 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. Price Target Changed • Feb 24
Price target raised to CN¥55.67 Up from CN¥50.92, the current price target is an average from 14 analysts. The new target price is 13% below the current share price of CN¥63.76. As of last close, the stock is up 75% over the past year. Is New 90 Day High Low • Jan 26
New 90-day high: CN¥58.49 The company is up 37% from its price of CN¥42.58 on 28 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¥48.88 on 17 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 and earnings beat expectations Third-quarter revenue exceeded analyst estimates by 6.9% at CN¥2.78b. Earnings per share (EPS) also surpassed analyst estimates by 80% at CN¥0.29. Revenue is forecast to grow 44% over the next year, compared to a 3.7% decline forecast for the Airlines industry in China. Announcement • Oct 29
Spring Airlines Co., Ltd. to Report Q3, 2020 Results on Oct 31, 2020 Spring Airlines Co., Ltd. announced that they will report Q3, 2020 results on Oct 31, 2020 Major Estimate Revision • Oct 24
Analysts update estimates The company's losses in 2020 are expected to improve with analysts raising their consensus EPS forecasts from -CN¥0.12 to -CN¥0.087. Revenue estimate was approximately flat at CN¥9.73b. The Airlines industry in China is expected to see a 38% decline in net income next year. The consensus price target increased from CN¥49.30 to CN¥49.61. Share price is down by 5.8% to CN¥42.12 over the past week. Major Estimate Revision • Oct 17
Analysts update estimates The company's losses in 2020 are expected to worsen with analysts lowering their consensus EPS forecasts from -CN¥0.084 to -CN¥0.12. No change was made to the revenue estimate which at the last update was CN¥9.67b. The Airlines industry in China is expected to see a 38% decline in net income next year. The consensus price target of CN¥49.30 was unchanged from the last update. Share price stayed mostly flat at CN¥44.69 over the past week. Major Estimate Revision • Sep 26
Analysts update estimates The company's losses in 2020 are expected to improve with analysts raising their consensus EPS forecasts from -CN¥0.066 to -CN¥0.056. Revenue estimate was approximately flat at CN¥9.67b. The Airlines industry in China is expected to see a 38% decline in net income next year. The consensus price target of CN¥49.30 was unchanged from the last update. Share price is down by 8.3% to CN¥44.85 over the past week. Announcement • Jul 17
Spring Airlines Co., Ltd. to Report First Half, 2020 Results on Aug 29, 2020 Spring Airlines Co., Ltd. announced that they will report first half, 2020 results on Aug 29, 2020 
