Air passenger transport is booming. However, future pressure on oil prices and exchange rates is high. It is expected that this year's performance growth rate will be stable, and next year's performance growth rate will decline. Conclusions and suggestions: the continued popularity of outbound travel led to rapid growth in traffic, and revenue growth in the first three quarters was relatively rapid; however, in the fourth quarter, the RMB depreciation rate increased, financial expenses surged, and at the same time, increased capacity investment boosted depreciation and amortization, so the annual performance growth rate is expected to be stable. The company's net profit in 2016 and 2017 is expected to increase by 18% and 13.65% year-on-year respectively. The current P/E corresponding to the A-share price is 11 times and 10 times, giving investment suggestions for holdings.