中金发表报告指，中航信(00696.HK) 去年业绩符合市场预期，公司拟调整派息政策，至每年以现金派发一次末期息，现金股息占纯利35%至45%。该行指，公司系统集成及技术服务等多个业务表现亮眼，下半年的经营成本按年升25.5%，主要因为人工成本、折旧摊销，以及集成业务销售成本均录得增长。
该行亦提到，根据公司经营数据公告，今年首两个月的内航内线、内航外线、外航外线处理量按年分别
增3%、增29%及跌21%，分别回到至2019年同期的119%、94%以及45%的水平。该行认为，公司外航外线复苏此前受到飞行线路、海外航司供需关系紧张等因素影响，部分因素在2025年或有望缓解，建议关注该部分业务量后续复苏进展。
该行上调中航信今明两年纯利预测10.7%和8.9%至23.27亿元人民币及25.81亿元人民币，维持“跑赢大市”评级，上调公司目标价15%至13元。(vc/w)
(港股报价延迟最少十五分钟。沽空资料截至 2025-03-31 16:25。)
相关内容《大行》大摩升中航信(00696.HK)目标价至9.9元 评级“减持”
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