HK Stock Market Move | Capital airport (00694) falls more than 4% again, recently removed from Hong Kong stock exchange, JP Morgan says about 25% of shares face selling pressure.

Capital Airport (00694) fell more than 4% again, falling 4.3% to HK$1.78 at the time of this report, with a turnover of HK$23.7691 million. JPMorgan released a research report stating that it has downgraded the investment rating of BEIJING AIRPORT from "Neutral" to "Underweight" and has significantly reduced its target price from HK$3 to HK$1.8. This adjustment is mainly based on the short-term challenges facing the company due to structural disadvantages. The report pointed out that BEIJING AIRPORT being removed from the Hong Kong stock connect list may lead to approximately 25% of issued shares facing selling pressure, further suppressing the stock price. The bank noted that the company's net loss in 2025 is expected to be between 600 million and 760 million Chinese yuan, significantly higher than market expectations. This indicates limited profit recovery ability, with the new airport duty-free contract revenue sharing ratio ranging from 5% to 8%, structurally limiting future profit space. This change in the business model weakens the company's competitive advantage in the industry, significantly restricting profit capabilities.