TravelSky Technology Limited

0696
Failed

Company Overview

China Civil Aviation Information Network Co., Ltd. (the “Company”, together with its subsidiaries, the “Group”) is a leading supplier of information technology solutions for China's aviation tourism industry. The company's core business includes aviation information technology services, distribution information technology services, aviation settlement and clearing services, etc. The Group has always been committed to developing advanced products and services to meet the needs of all industry participants (from commercial airlines, airports, air travel products and service suppliers to travel distribution agents, institutional customers, travelers and carriers) to conduct electronic transactions and manage information related to itineraries. The Company was incorporated in the People's Republic of China (“China”) on October 18, 2000. The Company's H shares were listed on the Hong Kong Stock Exchange Limited (“Stock Exchange”) on February 7, 2001, stock code: 00696. On December 27, 2002, American Depositary Securities, a Tier 1 American Depositary Certificate Program established by the Company, began trading on the US OTC Stock Market (OTC). Since 2015, the Company's H shares have been included in the MSCI Emerging Markets Index, the Hang Seng Composite Large and Medium Cap Index, the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect list. As of December 31, 2022, the Company's largest shareholder was China Civil Aviation Information Group Co., Ltd., which held about 29.29% of the company's shares; approximately 38.84% of the company's shares were held by 14 domestic shareholders, including China Mobile Capital Holdings Co., Ltd., China Southern Airlines Group Co., Ltd. and China Eastern Airlines Group Co., Ltd.; the remaining 31.87% of the company's shares were held by H share shareholders. As of December 31, 2022, the Group owned more than 20 subsidiaries in China, including China Airlines Settlement Co., Ltd. (“Settlement Company”), Shenzhen Civil Aviation Kaia Co., Ltd., and Qingdao Civil Aviation Kaia Systems Integration Co., Ltd.; the Group had wholly-owned overseas subsidiaries in Hong Kong, Singapore, Ireland and other regions; at the same time, the Group held interests in more than 10 joint ventures including Shanghai Civil Aviation Huadong Kaiya System Integration Co., Ltd., Chengdu Civil Aviation Southwest Kaiya System Integration Co., Ltd., and China Aviation Information Mobile Technology Co., Ltd. The Group had 6,570 employees as of December 31, 2022.

Country
HK
Market Cap
$5.07B
Last Fiscal Year
2023
Final Shariah Status
Failed
Compliance Analysis Overview

Shariah Compliance Benchmarks:

  • Business Compliance: Non-Shariah compliant revenue must be less than 5% of total revenue
  • Liabilities Compliance: Interest-bearing debt must be less than 33% of market capitalization
Business Compliance
4.39% passed
5% Threshold
4.4%
Liabilities Compliance
2.63% passed
33% Threshold
2.6%
Final Shariah Status
Failed

This stock does not meet all Shariah compliance criteria according to AAOIFI standards.

Stock Information
Name TravelSky Technology Limited
Ticker 0696
Main Business Information Technology Services
Type Common Stock
Industry Information Technology Services
Country HK
Market Cap $5.07 B

Shariah Analysis Breakdown

Business compliance Breakdown
Revenue Segment Value ($M) Non-Compliant ($M) Reason
Aviation information technology services $1,890.0 $0.0 -
Other income $709.5 $0.0 -
System integration service $320.9 $0.0 -
Data network service $201.7 $0.0 -
Settlement and clearing services $185.4 $0.0 -
Interest income $159.4 $159.4 -
Total $3,466.8 $159.4 4.39% (passed)
Liabilities Compliance Breakdown
Liability Item Value ($M) % of Market Cap
short term borrowing $105,264,705.9 2.08%
long term bank loan $28,040,616.2 0.55%
Total Interest-Bearing Debt $133,305,322.1 2.63%
Market Capitalization $5,071,153,846.2 100.00%
Compliance Status Threshold: 33% passed