Financial Performance - In 2021, the company's revenue was RMB 3,344,709,000, a decrease of 6.8% compared to RMB 3,587,136,000 in 2020[6] - The company reported a pre-tax loss of RMB 2,820,414,000 in 2021, compared to a loss of RMB 2,710,120,000 in 2020, indicating a worsening financial performance[6] - The net loss attributable to equity holders was RMB 2,116,537,000 in 2021, slightly higher than the loss of RMB 2,034,651,000 in 2020[6] - The company's total assets amounted to RMB 35,147,336,000, a slight decrease from RMB 35,422,916,000 in 2020[6] - Shareholders' equity decreased to RMB 20,174,808,000 in 2021 from RMB 22,238,234,000 in 2020, reflecting a decline in the company's net worth[6] - The main operating revenue was RMB 3,344,709,000, with aviation revenue at RMB 1,342,969,000, an increase of about 3.6%, while non-aviation revenue decreased by approximately 12.6% to RMB 2,001,740,000[17] - The total operating expenses for the year were RMB 6,046,589,000, with an increase of about 1.3% year-on-year[20] - The net loss for the fiscal year ending December 31, 2021, was RMB 2,116,537,000, an increase of about 4.0% compared to the previous year's loss[144] - The company did not recommend the distribution of a final dividend for the year ending December 31, 2021, due to operating losses caused by the pandemic[145] Operational Highlights - The company operated 85 airlines at Beijing Capital Airport by the end of 2021, with 26 domestic and 59 international airlines[9] - The airport served 208 destinations across 54 countries and regions, with 133 domestic and 75 international destinations[9] - In 2021, the total passenger throughput was 32,639,013, a decrease of approximately 5.4% compared to the previous year[16] - The total number of aircraft movements in 2021 was 298,176, an increase of approximately 2.3% from the previous year[131][132] - Cargo and mail throughput increased by approximately 15.8% to 1,401,313 tons, reflecting a rise in freight demand[131][132] Strategic Focus - The company emphasized the importance of enhancing operational efficiency and safety amidst ongoing challenges from the pandemic[15] - The management is focused on high-quality development and improving service operations to adapt to the changing market environment[15] - The company plans to leverage domestic market potential to stimulate passenger travel demand and enhance operational resilience[14] - The company aims to enhance operational efficiency and quality by optimizing business structure and improving service quality, focusing on becoming a world-class international hub airport[28] - The company plans to implement key projects to address infrastructure shortcomings and enhance operational safety margins in 2022[24] Market Challenges - The international business volume remains low due to ongoing pandemic impacts, affecting duty-free income and overall revenue[16] - The company recognizes the complexity and uncertainty of the current external environment, impacting the recovery of the aviation market[21] - In 2021, Beijing Capital International Airport faced operational challenges due to complex domestic and international conditions, impacting business volume recovery[25] - The company anticipates continued challenges in operations due to the pandemic but is focused on cost control and recovery strategies[130] Governance and Management - The company has a well-defined governance structure, with clear responsibilities between the chairman and the general manager[169] - The board of directors held a total of 11 meetings in 2021, with 7 conducted via written resolutions, focusing on strategic development and major operational matters[166] - The company provides monthly updates to board members regarding operational performance, financial status, and market regulatory dynamics[171] - The company has purchased liability insurance for its directors and senior management to protect against potential legal actions[170] - The company has received confirmation letters from all independent non-executive directors regarding their independence as per Listing Rule 3.13[101] Shareholder Information - The company's total issued share capital as of December 31, 2021, was 4,579,178,977 shares[80] - The company’s parent company holds 58.96% of its shares[72] - The major shareholder, Capital Airport Group Co., Ltd., holds 2,699,814,977 shares, representing approximately 58.96% of the total issued shares[81] - As of March 24, 2021, 41.04% of the company's issued shares, totaling 1,879,364,000 H-shares, are held by the public, meeting the minimum public float requirement under Listing Rule 8.08[94] Employee and Community Engagement - The total number of employees increased to 1,567 in 2021 from 1,556 in 2020[152] - The company made charitable donations totaling RMB 1,000,000 during the fiscal year ending December 31, 2021[38] Environmental Commitment - The company is committed to environmental protection and aims to build a "green airport" through energy management and biodiversity protection measures[33]

Revenue Performance - Total revenue for the first half of 2021 was RMB 1,747,392,000, a decrease of 11.9% compared to RMB 1,982,735,000 in 2020[4] - The company's aviation revenue increased by 22.7% to RMB 698,905,000 from RMB 569,695,000 in 2020[9] - Non-aeronautical revenue decreased by 25.8% to RMB 1,048,487,000 from RMB 1,413,040,000 in the previous year[12] - The company's concession revenue for the first half of 2021 was RMB 564,564,000, a decrease of 36.6% compared to the same period last year[13] - Advertising revenue was RMB 413,329,000, down 24.7% year-on-year, primarily due to the impact of COVID-19 on passenger flow and advertising resource availability[13] - Rental income decreased by 7.5% to RMB 472,637,000, attributed to reduced office and check-in counter rental income due to airline relocations and decreased international passenger traffic[15] - Parking service revenue increased by 27.4% to RMB 25,707,000, mainly due to adjustments in revenue recognition based on contracts[13] Financial Position - The total assets as of June 30, 2021, were RMB 35,378,021,000, a slight decrease of 0.1% from RMB 35,422,916,000 at the end of 2020[4] - Total liabilities increased by 6.2% to RMB 13,998,354,000 from RMB 13,184,682,000 in 2020[4] - Shareholders' equity decreased by 3.9% to RMB 21,379,667,000 from RMB 22,238,234,000 at the end of 2020[4] - The company reported a basic and diluted loss per share of RMB 0.184, a 14.3% increase from RMB 0.161 in 2020[4] - The total issued share capital as of June 30, 2021, was 4,579,178,977 shares, with 58.96% being domestic shares[46] - The company maintained a stable employee count of 1,558 as of June 30, 2021, unchanged from the previous year[38] Cash Flow and Liquidity - As of June 30, 2021, the company's cash and cash equivalents amounted to RMB 2,848,530,000, an increase from RMB 2,296,801,000 as of December 31, 2020, representing a growth of approximately 24%[26] - The net cash used in operating activities for the first half of 2021 was RMB 204,836,000, a decrease from RMB 222,917,000 in the same period of the previous year[28] - The net cash used in investing activities for the first half of 2021 was RMB 306,287,000, slightly up from RMB 298,203,000 in the same period of the previous year[28] - The net cash generated from financing activities for the first half of 2021 was RMB 1,063,078,000, an increase from RMB 685,553,000 in the same period of the previous year[28] - The company's current ratio improved to 0.50 as of June 30, 2021, compared to 0.39 as of December 31, 2020[28] - The debt-to-asset ratio increased to 39.57% as of June 30, 2021, up from 37.22% as of December 31, 2020[28] Operational Performance - The total number of aircraft movements increased by 33.1% to 157,900 compared to 118,648 in the same period last year[7] - Passenger throughput rose by 40.2% to 18,237,613 compared to 13,010,765 in the previous year[7] - Operating expenses totaled RMB 2,794,876,000, a decrease of 2.7% year-on-year[17] - General, administrative, and other expenses decreased by 53.3% to RMB 84,143,000, mainly due to reduced one-time pandemic-related expenditures[19] - The company reported a net financial cost of RMB 62,521,000, a decrease of 2.9% year-on-year, influenced by currency exchange gains from USD-denominated liabilities[20] Future Outlook and Strategy - The company plans to strengthen public health system construction and improve emergency response plans for public health events in the second half of 2021[22] - The company aims to enhance communication and cooperation with airlines to promote the recovery of the aviation market at Beijing Capital Airport[22] - The company continues to monitor the impact of the COVID-19 pandemic on international passenger throughput and will take necessary measures accordingly[83] - The company is exploring new strategies for market expansion and product development, although specific details were not disclosed in the provided content[166] - The company continues to focus on improving operational efficiency and cost management in response to changing market conditions[166] Shareholder Information - The company’s major shareholders include various investment managers and entities, indicating a diverse ownership structure[47] - Capital Airport Group Co., Ltd. holds 2,699,814,977 shares, representing 58.96% of the total issued shares[47] - T. Rowe Price holds 188,418,000 shares, accounting for 10.02% of H shares[47] - Citigroup Inc. has a total of 166,251,356 shares (long) and 14,099,163 shares (short), representing 8.84% and 0.75% of H shares respectively[47] - BlackRock, Inc. holds 128,111,431 shares (long) and 26,008,000 shares (short), making up 6.82% and 1.38% of H shares respectively[47] - Aberdeen Asset Management PLC holds 114,868,000 shares, which is 6.11% of H shares[47] Compliance and Governance - The Audit and Risk Management Committee has reviewed the financial data for the six months ending June 30, 2021, ensuring compliance with applicable accounting standards[60] - The company confirms adherence to the Corporate Governance Code, with all provisions complied with except for a minor deviation regarding attendance at the annual general meeting[62] - The company has not reported any significant operational changes since the last annual report published on April 28, 2021[55] Accounting and Financial Reporting - The company has adopted new accounting standards and revisions, which are not expected to have a significant impact on current or future reporting periods[90] - The company has assessed the impact of new accounting standards and will continue to evaluate their effects in the future[93] - Financial assets and liabilities' carrying amounts are close to their fair values, indicating minimal impact from discounting[102] - The company has maintained its risk management policies without any changes since the end of the previous year[97]

Financial Performance - In 2020, the company's revenue was RMB 3,587,136,000, a significant decrease from RMB 10,810,484,000 in 2019, representing a decline of approximately 66.8%[7] - The company reported a pre-tax loss of RMB 2,710,120,000 in 2020, compared to a profit of RMB 3,229,333,000 in 2019, indicating a substantial downturn in financial performance[7] - The net loss attributable to equity holders was RMB 2,034,651,000, a stark contrast to the profit of RMB 2,419,373,000 in the previous year, marking a year-over-year decline of 184.2%[7] - The company's main business revenue for 2020 was RMB 3,587,136,000, a decrease of 66.8% compared to the previous year[93] - The aviation business revenue was RMB 1,296,203,000, down 68.3% year-on-year, primarily due to the impact of COVID-19[96] - Non-aviation business revenue was RMB 2,290,933,000, a decrease of 65.9% year-on-year[97] - The company reported a significant increase in short-term borrowings to RMB 2,868,909,000 from RMB 500,000,000 in 2019, indicating a shift in financing strategy[178] - The company incurred significant losses in 2020, leading to a reduction in retained earnings by RMB 483,874,000[185] Operational Metrics - The company operated 88 airlines at Beijing Capital International Airport by the end of 2020, with 26 international destinations and 121 domestic destinations[10] - In 2020, Beijing Capital International Airport experienced a significant decline in traffic, with total aircraft movements down by 51.0% to 291,498, passenger throughput decreased by 65.5% to 34,513,827, and cargo/mail throughput fell by 38.1% to 1,210,441 tons[14] - The total number of aircraft takeoffs and landings at Beijing Capital Airport was 291,498, a decrease of 51.0% from the previous year[94] - Passenger throughput reached 34,513,827, a decline of 65.5% compared to the previous year[95] - The total cargo and mail throughput was 1,210,441 tons, a decrease of 38.1% from the previous year[94] Cost Management and Efficiency - Total operating expenses for the year were RMB 5,968,746,000, representing a reduction of 18.8% compared to the previous year, as the company implemented strict cost control measures[20] - The company's operating expenses for 2020 were RMB 5,968,746,000, a reduction of 18.8% from the previous year[101] - Employee costs decreased by 23.4% to RMB 538,686,000, mainly due to the impact of the COVID-19 pandemic[102] Strategic Initiatives - The company emphasized its commitment to high-quality development and infrastructure improvement despite the challenges posed by the COVID-19 pandemic[11] - The company plans to continue enhancing its cost control measures and infrastructure development to support future growth[11] - The company aims to adapt to new market conditions and pursue innovative strategies for recovery and growth in the post-pandemic environment[11] - The company is focused on building a "four-type airport" to improve operational quality and enhance passenger experience through safety, comfort, convenience, and enjoyment[16] - The company plans to optimize flight schedule structures and strengthen resource allocation to enhance its attractiveness as an international hub under the "one city, two airports" operational model[17] Pandemic Response and Recovery - The company is focused on maintaining effective pandemic prevention measures while ensuring stable operations in the aviation sector[11] - The company achieved the "three zero" goals in epidemic prevention: zero errors in passenger and cargo control, zero infections among employees, and zero complaints for emergency transport[14] - The company plans to strengthen its response mechanisms for epidemic prevention and improve public health security systems at the airport, leveraging technology to boost passenger confidence[24] - The company is actively seeking government subsidies to mitigate the adverse effects of the COVID-19 pandemic[107] Governance and Management - The board of directors was restructured on June 23, 2020, with the appointment of new members and the confirmation of the management team[68] - The company has a strong governance structure with a diverse board, including members with backgrounds in law, aviation management, and public administration[81] - The company has established a clear governance structure with distinct responsibilities for the Chairman and the General Manager, ensuring effective decision-making and daily operations[117] - The company has purchased liability insurance for its directors, supervisors, and senior management to protect against potential legal actions[118] Future Outlook - The outlook for 2021 remains cautious due to ongoing international pandemic pressures, but the company believes there are still strategic opportunities for growth in the aviation sector[21] - The company provided a positive outlook for 2021, projecting a recovery in passenger traffic with an expected growth rate of 20%[76] - Future guidance indicates an EBITDA margin improvement target of 10% by the end of 2021[76] - The company plans to enhance customer experience through digital transformation initiatives, aiming for a 30% increase in customer satisfaction scores[76] Environmental and Social Responsibility - The company emphasizes the importance of environmental protection and energy management, aiming to create a "green airport" through clean energy use and biodiversity protection[29] - The board of directors emphasized the importance of sustainability, with a goal to reduce carbon emissions by 20% over the next five years[76] - The company is committed to maintaining strong financial health while pursuing strategic growth opportunities[73]

Financial Performance - The company's revenue for 2019 was RMB 10,810,484,000, a decrease of 4.0% from RMB 11,262,512,000 in 2018[7]. - The profit before interest, tax, depreciation, and amortization (EBITDA) was RMB 4,789,354,000, down from RMB 5,375,970,000 in the previous year, representing a decline of 10.9%[7]. - The net profit after tax was RMB 2,419,373,000, a decrease of 15.7% compared to RMB 2,872,055,000 in 2018[7]. - Basic and diluted earnings per share were RMB 0.55, down from RMB 0.66 in 2018, reflecting a decline of 16.7%[7]. - The return on equity (ROE) was 9.69%, down from 12.27% in 2018, indicating a decrease of 20.9%[7]. - The company's annual net profit was RMB 2,419,373,000, a decrease of 15.8% compared to the previous year[92]. - The company's total revenue for 2019 was RMB 10,810,484,000, a decrease of 4.0% compared to the previous year[82]. - The aviation business revenue was RMB 4,088,745,000, down 23.0% year-on-year, primarily due to a decline in air traffic and the cancellation of the civil aviation development fund refund policy[85]. - Non-aviation business revenue increased by 12.9% to RMB 6,721,739,000, driven by new duty-free contracts and improved passenger purchasing power[87]. - The company's operating expenses for 2019 were RMB 7,349,647,000, an increase of 1.7% compared to the previous year[88]. Operational Highlights - The company operated 93 airlines at Beijing Capital International Airport by the end of 2019, with 294 destinations served, including 161 domestic and 133 international[9]. - In 2019, Beijing Capital Airport's total passenger throughput reached 100,011,438, a decrease of 1.0% compared to the previous year, while aircraft movements totaled 594,329, a decline of 3.2%[12]. - The company expanded its international route network and increased the frequency of several international destinations, enhancing its global influence[14]. - The company aims to enhance its comprehensive hub capabilities and improve service quality through infrastructure upgrades and expansion of international markets[10]. - The company aims to build Beijing Capital International Airport into a world-class international hub with a focus on safety, quality, and service[23]. Shareholder and Capital Structure - The company completed a non-public issuance of shares, increasing the total number of ordinary shares from 4,330,890,000 to 4,579,178,977[8]. - The company has a 58.96% shareholding by its parent company, which influences various related transactions[51]. - The major shareholder, Capital Airport Group Company, holds 2,699,814,977 domestic shares, representing 100% of the domestic shares and 58.96% of the total issued shares[58]. - The company confirmed compliance with the disclosure requirements of Chapter 14A of the Listing Rules regarding related party transactions[56]. - The proposed final dividend for 2019 is RMB 0.1533 per share, totaling approximately RMB 701,988,000, which is similar to the previous year's dividend[92]. Governance and Management - The board of directors includes members who also serve as general managers or deputy general managers of the parent company, which may create competitive business interests[63]. - The company emphasizes the importance of independent directors in maintaining corporate governance and oversight, ensuring compliance and strategic direction[73]. - The company has implemented a structured approach to management compensation, aligning it with performance metrics and industry standards[80]. - The company has appointed PwC and Deloitte as its domestic and overseas auditors for the year 2020, respectively[66]. - The company has retained the option to purchase assets related to the new Daxing Airport, which commenced operations on September 25, 2019[63]. Risk Management and Compliance - The company has established a comprehensive risk management and internal control system aimed at ensuring operational efficiency, asset security, and the reliability of financial reporting[122]. - The audit department conducted internal audits in key business areas and high-risk control segments during 2019, reporting to the audit and risk management committee twice[125]. - The company’s financial statements were confirmed to comply with applicable regulations and accounting standards, with external auditors responsible for the accuracy of the financial reports[121]. - The company has implemented strict compliance with fair principles in related transactions during the reporting period[129]. - The company has not engaged in any transactions that would harm shareholder rights or result in asset loss during the acquisition or sale of assets[129]. Future Outlook and Strategic Initiatives - The company plans to strengthen communication with main base airlines and optimize the route network in 2020, focusing on expanding international hub competitiveness[19]. - The company aims to enhance management capabilities and governance levels, striving to align with world-class airport standards while promoting safety and environmental management[19]. - The company has allocated 200 million for research and development in the upcoming year, aiming to innovate in customer service technologies[69]. - The company plans to face challenges from the COVID-19 pandemic by adjusting its structure, improving functions, and enhancing quality and efficiency[20]. - The company has set a future outlook with a revenue guidance of 1.5 billion for the next fiscal year, indicating a growth target of 25%[70].