二零二四年美兰机场获得之主要荣誉如下: 于二零零三年十一月六日,经中国商务部批准,成为一家外商投资股份有限公司。于二零一五年三月二日 起正式由'海南美兰国际机场股份有限公司'更名为'海航基础股份有限公司'。于二零一八年八月九日起 正式由'海航基础股份有限公司'更名为'瑞港国际机场集团股份有限公司'。于二零一九年十一月二十日 起正式由'瑞港国际机场集团股份有限公司'更名为'海南美兰国际空港股份有限公司'。 目前本公司及其子公司(合称'本集团')经营中国海南省海口市美兰机场内的航空及非航空业务。航空业 务主要包括提供航站楼设施、地勤服务以及旅客服务;非航空业务则主要包括出租美兰机场的商业及零 售铺位、机场相关业务特许经营、广告位、停车场、货物处理及出售消费品。 截至4月22日收盘，美兰空港（00357.HK）报10.300港元，较上个交易日上涨4.89%，当日盘中最高价 触及10.340港元，创近一年新高。 资金流向方面，当日主力流入2868.219万港元，流出1371.019万港元，净流入1497.20万港元。 海南美兰国际空港股份有限公司('美兰机场'或'本公司'或'公司')于二零零零年十二月二十八日在中华人 ...

Annual R eport 2 0 2 4 年 報 CONTENTS目錄 Annual Report 年報 2024 | | Corporate Mission | | --- | --- | | | 2 企業使命 | | | Company Background | | | 2 公司簡介 | | | Corporate Information | | | 3 公司資料 | | | Financial Highlights | | | 6 財務摘要 | | | Chairman's Statement 8 | | | 主席報告 | | | Management Discussion and Analysis 26 管理層討論及分析 | | | Corporate Governance Report 50 | | | 企業管治報告 | | | Directors, Supervisors and Senior | | | Management 80 | | | 董事、監事及高級管理層簡介 | | | Report from the Board | | | 92 董事會報告 | | 123 | Report o ...

海南美蘭國際空港股份有限公司 Hainan Meilan International Airport Company Limited* 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 （在中華人民共和國註冊成立之股份有限公司） （股票代碼：357） 截至二零二四年十二月三十一日末期業績公告 財務摘要 業務摘要 * 僅供識別 – 1 – – 總收入為人民幣2,170.99百 萬 元（二 零 二 三 年 度：人 民 幣2,085.68百萬元） – 航空業務收入為人民幣1,081.10百萬元（二零二三年度：人民幣974.62百萬元） – 非航空業務收入為人民幣1,089.89百 萬 元（二 零 二 三 年 度：人 民 幣1,111.06 百萬元） – 淨虧損為人民幣366.25百萬元(二零二三年度：淨虧損為人民幣168.63百萬元) – 歸屬於母公司股東的淨虧損為人民幣381.44百 萬 元（二 零 二 三 年 度：歸 屬 於母公司股東的淨虧損為人民幣13 ...

海南美蘭國際空港股份有限公司 Hainan Meilan International Airport Company Limited A joint stock company incorporated in the People's Republic of China with limited liability 於中華人民共和國註冊成立之股份有限公司 Stock Code 股份代號：00357 44 INTERIM REPORT 2024 中期報告 CONTENTS 目錄 6 42 MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論與分析 35 OTHER INFORMATION 其它資料 CONSOLIDATED AND COMPANY BALANCE SHEETS 合併及公司資產負債表 2 CORPORATE INFORMATION 公司資料 45 CONSOLIDATED AND COMPANY INCOME STATEMENTS 合併及公司利潤表 | --- | --- | |-------|-------------------------------------- ...

2024 年 08 月 28 日 美兰空港 (00357) 一年内股价与基准指数对比走势： -33% -13% 7% 27% 08/2809/2810/2811/2812/2801/2802/2803/2804/2805/2806/2807/28 HSCEI 美兰空港 买入（维持）投资要点： ⚫ 事件：美兰空港公布 2024 年上半年业绩，公司实现总收入为人民币 11.52 亿元，同比增 | --- | --- | |------------------------|------------------| | 市场数据： | 2024 年 08 月 27 | | 收盘价（港币） | 6.89 | | 恒生中国企业指数 | 6306.36 | | 52 周最高/最低（港币） | 10.16/5.21 | | H 股市值（亿港币） | 32.60 | | 流通 H 股（百万股） | 226.91 | | 汇率（人民币/港币） | 1.0946 | 财务数据及盈利预测 | --- | --- | --- | --- | --- | --- | |----------------------|-------|---- ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本文件的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本檔全部或 任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 海南美蘭國際空港股份有限公司 Hainan Meilan International Airport Company Limited* （在中華人民共和國註冊成立之股份有限公司） （股票代碼：357） | --- | --- | --- | |-------|-----------------------------------------------------------------------------------------------|-------------------| | | | | | | 財務摘要 | | | – | 總收入為人民幣 1,149.28 百萬元 （截至二零二三年六月三十日止六個月：人民幣 | 1,065.95 百萬元） | | – | 航空業務收入為人民幣 603.64 百萬元 （截至二零二三年六月三十日止六個月：人民幣 | 494.40 百萬元） | | – | 非 ...

Investment Rating - The report maintains a "Recommended" rating for Meilan Airport (00357.HK) [1] Core Views - The aviation business has shown a strong recovery, supported by the broader context of Hainan Free Trade Port development [1] - The company reported a total revenue of 2.101 billion yuan in 2023, with a year-on-year growth of 79.5% [1] - The net profit attributable to shareholders is projected to turn positive in 2024, reaching 177 million yuan, with significant growth expected in subsequent years [1] Financial Summary - **Revenue Forecast**: - 2023: 2,101 million yuan - 2024E: 2,575 million yuan (22.6% YoY growth) - 2025E: 3,040 million yuan (18.1% YoY growth) - 2026E: 3,278 million yuan (7.8% YoY growth) [1] - **Net Profit Forecast**: - 2023: -136 million yuan - 2024E: 177 million yuan (230.2% YoY growth) - 2025E: 436 million yuan (146.1% YoY growth) - 2026E: 564 million yuan (29.4% YoY growth) [1] - **Earnings Per Share (EPS)**: - 2023: -0.29 yuan - 2024E: 0.37 yuan - 2025E: 0.92 yuan - 2026E: 1.19 yuan [1] - **Valuation Ratios**: - Price-to-Earnings (PE) ratio for 2024E: 22.4x - PE ratio for 2025E: 9.1x - PE ratio for 2026E: 7.0x - Price-to-Book (PB) ratio for 2024E: 0.9x [1] Business Segments - **Aviation Business**: - Revenue from aviation services reached 970 million yuan in 2023, a 170% increase YoY, contributing 47% to total revenue [1] - Passenger throughput reached 24.34 million, recovering to 101% of 2019 levels [1] - **Non-Aviation Business**: - Non-aviation revenue was 1.111 billion yuan, a 42% increase YoY, accounting for 53% of total revenue [1] - Duty-free sales in Hainan reached 43.76 billion yuan in 2023, a 25% increase YoY, benefiting the company's non-aviation segment [1] Long-term Outlook - The company is positioned as a core hub in the Hainan Free Trade Port, with significant growth potential as the second phase of the airport project is completed [1] - The projected passenger throughput for Meilan Airport is expected to reach 30 million by 2025, further solidifying its status as a key regional hub [1]

证券研究报告 | 年报点评报告 2024年04月25日 美兰空港（00357.HK） 客流收入恢复，运营成本、折旧有所提升 事件：公司 3 月 28 日发布 2023 年业绩报告，2023 年公司实现收入 20.9 买入（维持） 亿元，同比+82.7%。实现归母净亏损 1.36 亿元/同比收窄 12.4%。其中 股票信息 2023H2 实现收入 10.2 亿元/同比+96.5%，实现亏损 0.85 亿元/同比扩大 行业 航空服务 128.2%。报告期内，公司客流、营收恢复，运营成本、折旧有所提升。 前次评级 买入 4月23日收盘价(港元) 7.14 客流支撑业务收入回暖，流量有望持续上升。报告期内客流大幅回升，2023 总市值(百万港元) 3,378.74 年公司处理旅客吞吐量达 2434 万人次/同比+118.1%，为历年最高，飞机 总股本(百万股) 473.21 起落架次共达 17.2 万/同比+63.2%。客流恢复对各项业务增长均起到明显 其中自由流通股(%) 100.00 支撑：1）非航空性业务：实现收入11.1亿元/同比+42.4%。其中特许经营 30日日均成交量(百万股) 1.53 权实现收入6. ...

智通财经APP获悉，美兰空港(00357)涨近7%，截至发稿，涨6.8%，报6.91港元，成交额1085.88万港 元。 消息面上，4月13日至4月18日，第四届中国国际消费品博览会在海口举办。中国旅游集团携旗下中免集 团第四次深度参与消博会。海口美兰国际机场成立消博会保障领导小组，多措并举开展消博会保障工 作。 华泰证券指出，2023年美兰空港旅客吞吐量创历史新高，不过免税客单价回升存在不确定性，且二期产 能仍处于爬坡周期，拖累业绩表现。中长期仍看好自贸港建设红利，公司发挥渠道变现能力，盈利有望 持续回暖。 ...

Financial Performance - Revenue for 2023 reached RMB 2,085,680, an increase of 82.72% compared to RMB 1,141,462 in 2022[16] - Gross profit for 2023 was RMB 38,446, reflecting a growth of 105.41% from RMB 18,717 in 2022[16] - Net loss attributable to shareholders decreased by 12.42% to RMB 136,009 in 2023 from RMB 155,299 in 2022[16] - Basic loss per share improved to RMB 0.29 in 2023, down from RMB 0.33 in 2022, a reduction of 12.12%[16] - Net cash generated from operating activities surged by 202.76% to RMB 526,936 in 2023, compared to RMB 174,042 in 2022[16] - EBITDA for 2023 was RMB 804,147, a significant increase of 218.48% from RMB 252,492 in 2022[16] - The Group's net loss attributable to shareholders decreased to RMB 136,009 from RMB 155,299 in 2022, reflecting a recovery in the aviation market[35] - The Group recorded a net loss after tax of RMB 168,626,845, an improvement from a net loss of RMB 190,703,238 in 2022[37] Operational Metrics - Passenger throughput for 2023 was 24.3404 million, a remarkable increase of 118.06% compared to 2022[24] - Cargo and mail throughput increased by 40.63% to 174,904.80 tons in 2023[24] - The number of aircraft takeoff and landing increased by 63.19% to 172,454 flights in 2023[24] - The daily utilization rate of aircraft increased by 3.8 hours year-on-year to 8.1 hours, with a regular flight load factor of 77.9%, up by 11.3 percentage points[112] - The total number of transport airports reached 259, with a total capacity of 1.56 billion passengers[112] Revenue Breakdown - Revenue from aviation business amounted to RMB 974,620, representing a significant increase of 169.88% compared to 2022[34] - Revenue from non-aviation business was RMB 1,111,059,278, reflecting a year-on-year increase of 42.38% and accounting for 53.27% of the Group's total revenue[44] - Franchise income increased to RMB 622,399,533, a year-on-year growth of 37.11%[46] - Hotel income amounted to RMB 110,241,102, reflecting a year-on-year increase of 53.26%[46] Awards and Recognition - Major awards in 2023 included "Best Regional Airport in China" and "Best Airport Staff in China" from SKYTRAX[7] - Haikou Meilan International Airport won multiple awards, including "Best Regional Airport in China" and "Best Airport Staff in China" from SKYTRAX[106] Future Plans and Developments - The company aims to build a first-class airport in Hainan Free Trade Port, enhancing connectivity and sustainability[2] - The Group plans to improve aviation safety, optimize operational procedures, and enhance employee professional quality[85] - The Group aims to expand domestic flight routes, increasing the proportion of wide-body aircraft and intensifying flights to second-tier cities, with a focus on popular tourist destinations[89] - The Group will focus on high-quality development while ensuring safety and operational efficiency, aiming for a win-win in "output quantity" and "operation quality"[91] Infrastructure and Expansion - The terminal complex project at Meilan Airport has a gross floor area of 315,300 sq.m., integrating various business functions including duty-free shopping and transportation services[47] - The Sanya Airport Phase III expansion project, with an investment of approximately RMB 2.92 billion, aims to accommodate an annual passenger throughput of 30 million and is scheduled for completion by the end of 2025[154] - The Bo'ao Airport Phase III expansion project, with a total investment of approximately RMB 1.544 billion, is designed to meet an annual passenger throughput of 3 million and is also planned for completion by the end of 2025[155] Tourism and Economic Impact - Hainan Province received 90.0062 million domestic and international tourists in 2023, achieving total tourism revenue of RMB 181.309 billion, representing year-on-year increases of 49.9% and 71.9% respectively[119] - The number of visitors to 47 museums in Hainan Province reached over 4.8195 million, with cruise tourism seeing a 277.8% increase in trips and a 405.33% increase in domestic tourists year-on-year[125] - Hainan's offshore duty-free shopping reached approximately RMB 43.76 billion in 2023, a year-on-year increase of 25.4%, with 6.756 million visits, up 59.9%[159] Customer Experience and Services - The Group plans to enhance service quality by implementing five-star service standards and focusing on passenger travel needs, aiming for a comprehensive improvement in passenger satisfaction[95] - The new VIP management system at Meilan Airport commenced trial run on June 19, 2023, achieving full-process closed-loop management of VIP services[75] - The introduction of new duty-free shopping policies is expected to further stimulate consumer spending and enhance Hainan's position as an international tourism consumption center[165]