会议期间，首都机场还应邀参加2025国际机场博览会展区相关活动，展现"第一国门 让爱聚首"的服务 品牌，传递首都机场的品牌温度与服务创新成果。 首都机场股份公司副总经理李纯在大会上发言 A HERRENALE l 2 170 ITE 12 9ca - 打卡世界 NO.8 广州 、国门 打卡世界 9 Comm 0 r 0 9 · D = D 41276 Gener . 9 . TO WHE the state 8 (5 April and B > 82 2011 14 4 8 9 1 g tou 6 n f 6 5 打卡世界 V V 0 ersted H @ t By thirth ke B 1选稳时间1 2025年9月0日-2015年1月10日 国 PARTI 【送日内部】 p Art 4 a 4 A 20 及 门 14 《中国民航报》、中国民航网 记者张丰蘩 通讯员李朔楠 报道：记者从首都机场获悉，日前，在广州举 行的2025国际机场博览会暨第十届中国机场服务大会上，北京首都国际机场荣获"2024年度中国民用机 场1000万（含）以上量级服务质量优秀机场奖"。这是首都机场第8次荣获该奖项，排名稳居第一梯队。 ...

Group 1 - The company achieved a revenue of 2.755 billion yuan in the first half of 2025, representing a year-on-year growth of 2.6%, with aviation revenue at 1.345 billion yuan, up 4.6%, and non-aviation revenue at 1.410 billion yuan, up 0.8% [1] - The company's net loss after tax was 164 million yuan, a significant reduction from a loss of 376 million yuan in the same period last year [1] - Passenger throughput reached 34.17 million, a year-on-year increase of 4.5%, with international passenger throughput growing by 21.3%, increasing its share from 17.4% to 20.2% [1] Group 2 - Non-aviation revenue was 1.410 billion yuan, with a slight year-on-year increase of 0.8%, while franchise income decreased by 4.5% to 749 million yuan [2] - Advertising revenue fell by 3.5% to 343 million yuan due to the impact of new media, while retail (duty-free) revenue grew by 1.2% to 262 million yuan, which was below the growth rate of international passenger volume [2] - Operating costs totaled 2.779 billion yuan, a decrease of 4.2% year-on-year, with franchise management fees down by 24.9% to 138 million yuan [2] Group 3 - The company maintains a strong position as an international aviation hub, with long-term commercial value expected to gradually release profitability [3] - Short-term challenges include the diversion of traffic to Daxing Airport and a slowdown in duty-free consumption growth, leading to a slower-than-expected recovery in non-aviation revenue [3] - Net profit forecasts for 2025-2027 have been adjusted to -173 million, 88 million, and 342 million yuan respectively, while maintaining a "recommended" rating [3]

Investment Rating - The report maintains a "Recommended" rating for Beijing Capital International Airport Co., Ltd. [3][5] Core Views - The company has shown a significant reduction in net loss due to effective cost control, with a tax-adjusted net loss of 164 million yuan in the first half of 2025, compared to a loss of 376 million yuan in the same period last year [1][3] - Revenue for the first half of 2025 reached 2.755 billion yuan, a year-on-year increase of 2.6%, driven by a 4.6% increase in aviation revenue and a 0.8% increase in non-aviation revenue [1][2] - The recovery in passenger volume is ongoing, with a total of 34.17 million passengers in the first half of 2025, representing a 4.5% year-on-year increase, and international passenger volume growing by 21.3% [1][2] Revenue and Profitability - Non-aviation revenue for the first half of 2025 was 1.41 billion yuan, with a decline of 4.5% in concession revenue, primarily due to a decrease in advertising revenue [2][3] - The company has successfully reduced operating costs by 4.2% year-on-year, with concession management fees down by 24.9% [2][3] - Profit forecasts for 2025-2027 have been adjusted to -173 million yuan, 88 million yuan, and 342 million yuan respectively, indicating a gradual recovery in profitability [3][4] Financial Metrics - Projected revenue for 2023 is 4.558 billion yuan, with a growth rate of 104.33%, and expected to reach 6.473 billion yuan by 2027 [4] - The net profit margin is projected to improve from -37.22% in 2023 to 5.28% in 2027, reflecting a positive trend in profitability [4] - The return on equity (ROE) is expected to turn positive by 2026, reaching 2.49% in 2027 [4]

Group 1 - BlackRock, Inc. increased its stake in Beijing Capital International Airport Co., Ltd. by purchasing 256,000 shares at an average price of HKD 3.1116 per share, totaling approximately HKD 796,600 [1][3] - Following this transaction, BlackRock's total holdings in the company rose to 131,642,593 shares, which represents a 7.00% ownership stake, up from 6.99% [1][3] - The transaction occurred on August 26, 2025, as per the latest disclosure from the Hong Kong Stock Exchange [1][2]

Core Viewpoint - UBS reported that Beijing Capital International Airport Co., Ltd. (00694) experienced a 2.6% year-on-year revenue increase to 2.8 billion RMB, with losses narrowing to 163 million RMB compared to a loss of 376 million RMB in the same period last year, although the performance fell short of the bank's and market expectations [1] Financial Performance - Revenue for the first half of the year reached 2.8 billion RMB, reflecting a 2.6% increase year-on-year [1] - Losses decreased to 163 million RMB, an improvement from the previous year's loss of 376 million RMB [1] Earnings Forecast - UBS revised its earnings per share (EPS) forecasts for 2025 to 2027 from 0.02 RMB, 0.08 RMB, and 0.13 RMB to -0.05 RMB, 0 RMB, and 0.04 RMB respectively [1] Target Price Adjustment - The target price was slightly adjusted from 3.1 HKD to 3.22 HKD due to a decrease in the weighted average cost of capital (WACC) [1] - UBS maintains a neutral rating on the stock [1]

Core Viewpoint - UBS reports that Beijing Capital International Airport Company (00694) experienced a 2.6% year-on-year revenue growth to 2.8 billion RMB, with losses narrowing to 163 million RMB compared to a loss of 376 million RMB in the same period last year, although the performance fell short of the bank's and market expectations [1] Financial Performance - Revenue increased by 2.6% year-on-year to 2.8 billion RMB [1] - Losses narrowed to 163 million RMB from 376 million RMB in the previous year [1] Earnings Forecast - UBS revised its earnings per share (EPS) forecasts for 2025 to 2027 from 0.02 RMB, 0.08 RMB, and 0.13 RMB to -0.05 RMB, 0 RMB, and 0.04 RMB respectively [1] Target Price Adjustment - The target price was slightly adjusted from 3.1 HKD to 3.22 HKD due to a decrease in the weighted average cost of capital (WACC) [1] - UBS maintains a neutral rating on the stock [1]

Core Viewpoint - UBS reported that Beijing Capital International Airport's revenue for the first half of the year increased by 2.6% year-on-year to 2.8 billion yuan, with losses narrowing to 163 million yuan compared to a loss of 376 million yuan in the same period last year, although the performance fell short of the bank's and market expectations [1] Financial Performance - Revenue for the first half of the year reached 2.8 billion yuan, reflecting a year-on-year growth of 2.6% [1] - Losses decreased to 163 million yuan, an improvement from the previous year's loss of 376 million yuan [1] Earnings Forecast - The earnings per share (EPS) forecasts for 2025 to 2027 were revised down from 0.02 yuan, 0.08 yuan, and 0.13 yuan to -0.05 yuan, 0 yuan, and 0.04 yuan respectively [1] Target Price Adjustment - The target price was slightly adjusted from 3.1 HKD to 3.22 HKD due to a reduction in the weighted average cost of capital (WACC) [1] - The rating was maintained at "Neutral" [1]

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 公司名稱: 北京首都國際機場股份有限公司 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00694 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,879,364,000 | RMB | | 1 RMB | | 1,879,364,000 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 1,879,364,000 | RMB | | 1 RMB | | 1,879,364,000 | | 2. 股份分類 | 普通股 | 股份類別 | 其他類 ...

Group 1 - The company announced the resignation of three directors due to retirement age, effective from August 28, 2025 [2] - Following the resignations, new appointments were made to the board, including Song Kun as the chairman of the ESG committee [2] - The newly appointed directors will serve until the end of the ninth board's term [3] Group 2 - Li Yongbing was elected as an executive director during the extraordinary general meeting [3] - Xue Rongguo and Shen Lancheng were elected as non-executive directors [3] - The terms of the newly elected directors will commence after the conclusion of the extraordinary general meeting [3]

Core Viewpoint - The company's performance in the first half of 2025 is in line with expectations, showing a modest revenue growth and improved net profit compared to the previous year [1][2]. Group 1: Financial Performance - The company reported a revenue of 2.755 billion yuan in 1H25, representing a year-on-year increase of 3% [1]. - The net profit attributable to shareholders was -164 million yuan, an improvement from a loss of 376 million yuan in the same period last year [1]. - Operating costs decreased by 4% year-on-year, indicating effective cost control measures [1]. Group 2: Operational Data - In 1H25, the number of takeoffs and landings increased by 3% year-on-year, while passenger throughput grew by 4% [1]. - Revenue from takeoff and landing services and passenger services increased by 2% and 8% respectively, with the growth in passenger service revenue outpacing passenger volume growth due to a higher unit charge from international flights [1]. Group 3: Non-Aviation Business - Non-aviation business revenue saw a slight increase of 1% year-on-year, impacted by a 3.5% decline in advertising franchise revenue and a modest 1% growth in retail franchise revenue [1]. - The company experienced pressure on duty-free average transaction values despite significant growth in passenger throughput for international and regional flights [1]. Group 4: Future Outlook - The company is expected to initiate negotiations for new duty-free contracts in the second half of 2025, with the current duty-free agreement set to expire in February 2026 [2]. - Revenue forecasts for 2025 and 2026 have been revised down by 7.8% and 9.7% to 5.765 billion yuan and 6.175 billion yuan respectively, primarily due to lowered passenger flow growth assumptions [2]. - The net profit estimates for 2025 and 2026 have been adjusted to -237 million yuan and 159 million yuan, reflecting the impact of cost control measures [2].