China Southern Airlines stock falls 3.48 percent as codeshare expands

Published on 10/04/2026 at 13:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

China Southern Airlines stock posted RMB 94.7 billion in first-half revenue and a RMB 3.7 billion net loss in 2026. A five-route codeshare expansion starts October 25.

ZNH, CNE1000002T6, Illustration mit AI erstellt.

China Southern Airlines stock (ISIN CNE1000002T6) was last at HKD 2.92 on the Hong Kong Stock Exchange on October 2, 2026, down 3.48 percent from the previous session. The immediate company catalyst is a codeshare expansion with Malaysia Airlines covering five additional Malaysia-China routes from October 25, 2026, as TTG Asia reported on October 2, 2026.

Five routes join the network

The new cooperation covers Kuala Lumpur with Shenzhen, Changsha, Xiamen, Chengdu Tianfu and Zhengzhou. China Southern and Malaysia Airlines will place their flight codes on eligible services operated by either carrier, extending a partnership that began with the Kuala Lumpur-Guangzhou route in July 2023.

The expansion adds international connectivity while the stock remains close to its yearly low of HKD 2.83 and far below its 52-week high of HKD 6.62, both dated October 2, 2026. That spread makes operating execution more important than the route announcement alone.

Revenue grows as losses widen

According to Moomoo, China Southern reported first-half 2026 operating revenue of RMB 94.7 billion, up 9.72 percent year over year, but its net loss attributable to shareholders reached RMB 3.7 billion versus RMB 1.5 billion in the first half of 2025.

The cost pressure was visible in aviation fuel, which rose 37.67 percent to RMB 34.9 billion and represented 51.25 percent of operating expenses. Passenger revenue reached RMB 79.5 billion, up 8.76 percent, while international passenger traffic increased 13.29 percent, giving the new route strategy a clear operating metric to deliver against.

Analyst target sits above the stock

The Globe and Mail reported on September 6, 2026, that Citi initiated China Southern Airlines Class H with a Sell rating and a HKD 2.60 price target, with the analyst action dated September 5, 2026. The same report described the consensus as Hold with an average target of HKD 3.97, which places the target 35.96 percent above the October 2 price of HKD 2.92.

China Southern Airlines stock stays under pressure

China Southern Airlines stock was last at HKD 2.92 on October 2, 2026, with 6,383,000 shares traded and a market capitalization of HKD 78.1 billion. The combination of expanding international connectivity and a first-half loss of RMB 3.7 billion leaves fuel costs and passenger demand as the central operating checks.