TravelSky Technology, China’s leading civil-aviation IT services provider, reported resilient first-half 2026 results despite a challenging macro backdrop.
Revenue and Earnings • Total revenue reached RMB 4.11 billion, increasing 5.6% versus H1 2025. • Net profit attributable to shareholders rose 6.6% to RMB 1.54 billion; EPS came in at RMB 0.53. • Operating profit expanded to RMB 1.74 billion, while the effective tax rate was 10.3% after preferential policies for High & New Technology and Key Software Enterprise status.
Segment Performance • Aviation Information Platform Services remained the core contributor at 57.2% of group revenue, but slipped 1.7% year-on-year to RMB 2.35 billion amid exchange-rate pressure on foreign airline fees. • Accounting, Settlement & Clearing Services advanced 11.4% to RMB 453.6 million, buoyed by 3.6% growth in transaction volumes. • Airport Digitalization Services surged 43.5% to RMB 600.4 million as more projects reached completion and acceptance. • Aviation Travel Intelligent Products & Services rose 14.9% to RMB 442.2 million on higher IT demand and product expansion. • Information Network & Digital Infrastructure revenue fell 8.9% to RMB 256.5 million on lower distribution IT volumes.
Cost and Cash Position • Total operating expenses edged down 0.4% to RMB 2.42 billion; staff costs climbed 9.3%, offset by lower hardware, technical support and distribution fees. • Net cash inflow from operations was RMB 2.44 billion. Cash and equivalents stood at RMB 8.83 billion (96.7% denominated in RMB). • Total borrowings were RMB 995.7 million; gearing ratio moved to 26.5% from 25.8% at end-2025.
Investment & Capital • H1 2026 capital expenditure was RMB 283.3 million, mainly for system upgrades; outstanding capex commitments total RMB 1.73 billion. • Trading financial assets increased to RMB 6.00 billion, largely in structured deposits. • The group holds a 13.26% stake in China Merchants RenHe Life Insurance, now valued at RMB 1.43 billion after a fair-value gain of RMB 375 million.
Operational Highlights • Processed 371.9 million passenger bookings (+0.3%) and 651.2 million accounting and clearing transactions (+3.6%). • Smart-airport solutions expanded to 19 airports handling over 10 million passengers annually; RFID baggage tracking now covers 119 airports. • IT infrastructure was fully localized at Urumqi Tianshan International Airport, achieving 99.99% core-system availability. • Continued investment in “AI + Travel”, low-altitude economy platforms and multimodal distribution, including new NDC agreements with nine foreign airlines.
Dividends • The board did not declare an interim dividend for the period.
Outlook Management expects China’s civil-aviation digitalization drive and economic resilience to sustain growth in the second half of 2026, while pledging to strengthen technology leadership, expand market reach and maintain a disciplined financial profile.
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