CEA (670.HK) Good Main Business, Oil Price, Exchange Rates and Base Lead To Result Fluctuations April 25, 2019 198

PSR Recommendation: ACCUMULATE Status: Maintained
Target Price: HKDHKD6

Investment Summary:
Annual Revenues Are Cut In Half
China Eastern recorded revenues of RMB114.93 billion in 2018, up 13.0% yoy, and recorded
a net income attributable to the parent company of RMB2.71 billion, down 57.4% yoy, in
line with the company`s previous result expectation. Basic EPS was RMB0.187. As the
company is in the stage of introducing of the audit process of private placement of Shanghai
Juneyao (Group) Co., Ltd., no dividends are paid.

About the author

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Zhang Jing
Phillip Securities (HK)

Bachelor Degree in Tongji University of Engineering; Master Degree in East China Normal University of finance. Currently covering the automobile and air sectors. She has years of experience in investment research and is good at combining analysis for the companies with industry prospects.

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