Hainan Meilan International Airport (SEHK:357) Stock Rally Meets Lingering Losses

Hainan Meilan International Airport stock has quietly climbed about 22% over the past month, so expectations were already running ahead of today’s H1 2026 release. The headline was not a clean return to profit. The company is still loss making, with a basic loss per share of ¥0.14 and net loss from ordinary operations of ¥66.9m. Yet revenue of ¥1.09b shows the core airport engine is still turning. The market now has to decide whether earlier optimism priced in too much recovery or whether this is a step toward the earnings rebound many investors expect.

Is Hainan Meilan International Airport stock trading at a genuine 17.6% discount to fair value, or does the higher P/S multiple signal too much optimism already priced in? See how the current share price, revenue profile and loss track record line up against our intrinsic value work in the full valuation analysis for Hainan Meilan International Airport

H1 2026 Earnings Summary

• Revenue H1 2026 vs. H1 2025: ¥1,091.6m vs. ¥1,079.3m (steady revenue performance year on year)
• Net Loss H1 2026 vs. H1 2025: loss of ¥66.9m vs. loss of ¥70.2m (slightly narrower loss period on period)
• Basic EPS H1 2026 vs. H1 2025: loss of ¥0.14 per share vs. loss of ¥0.15 per share (small improvement in per share loss)
• Trailing 12-Month Net Loss to H1 2026 vs. TTM to H1 2025: loss of ¥275.7m vs. loss of ¥203.6m (wider loss on a trailing 12-month view)

Prefer clean charts instead of scrolling through dense earnings tables and raw figures for Hainan Meilan International Airport? See the company’s full financial picture, including a clear view of its valuation, in the visual company report for Hainan Meilan International Airport.

Hainan Meilan: Earnings Progress Supports Cautious Optimism

For bullish investors in Hainan Meilan International Airport, the latest half year points to gradual operational progress rather than a sharp turnaround. Revenue of ¥1,091.6m for H1 2026 is close to H1 2025 levels, which suggests the airport’s broad fee and commercial model is holding up. The net loss narrowed slightly to ¥66.9m, and basic loss per share improved to ¥0.14. That softens the immediate pressure on the equity story, even though the trailing 12 month loss of ¥275.7m shows the recovery is still incomplete.

Loss Track Record Keeps Risk Narrative Intact

Bears looking at Hainan Meilan International Airport will focus on the persistence of losses and the direction of the trailing 12 month figures. The company remains loss making at the half year and the trailing 12 month net loss widened to ¥275.7m compared with the prior period. That trend challenges any quick profitability narrative and highlights ongoing earnings risk. Revenue stability in H1 2026 offers some comfort, yet the combination of continuing losses and a wider trailing deficit means balance sheet and cash flow discipline stay front of mind for cautious investors.

Compare that internal progress at Hainan Meilan International Airport with external expectations and see whether analysts think the current HK$5.62 share price already reflects the recovery story. See the consensus price target analysis for Hainan Meilan International Airport to gauge how closely the bullish thesis lines up with the street view.

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If Hainan Meilan International Airport looks interesting after its recent 22% share price rise and ongoing loss profile, register for free with Simply Wall St and add it to a Watchlist to track price against fair value and watch for a potential entry point. Once you own the stock, use the Portfolio Command Center to cut through market noise and get focused updates on the metrics that matter to your holdings. For a longer term view, tap into crowd wisdom through the Community and see how other investors are thinking about Hainan Meilan International Airport and similar stocks. By considering potential catalysts and risks, you can make more informed decisions and stay a step ahead of the market.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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