Financial Performance - For the first half of 2025, the company's revenue reached RMB 2,754,574,000, representing a 2.6% increase compared to RMB 2,683,873,000 in 2024[4] - The company's profit before interest, tax, depreciation, and amortization (EBITDA) increased by 39.9% to RMB 688,121,000 from RMB 491,708,000 in 2024[4] - Operating loss for the period was RMB 74,495 thousand, significantly improved from a loss of RMB 258,087 thousand in the previous year[64] - Net loss attributable to shareholders was RMB 163,861 thousand, compared to a net loss of RMB 376,494 thousand for the same period last year[64] - The company reported a basic and diluted loss per share of RMB 0.036, an improvement from RMB 0.082 in the previous year[64] - The company’s total comprehensive loss for the period was RMB 172,266 thousand, compared to RMB 401,042 thousand in the same period of 2024[64] Revenue Breakdown - Aviation business revenue totaled RMB 1,344,510,000, reflecting a 4.6% increase from RMB 1,285,649,000 in 2024[9] - Non-aeronautical business revenue amounted to RMB 1,410,064,000, a slight increase of 0.8% from RMB 1,398,224,000 in the previous year[12] - Revenue from aviation-related services amounted to RMB 1,344,510,000, compared to RMB 1,285,649,000 in 2024, indicating a growth of 4.6%[77] - Non-aviation revenue totaled RMB 1,410,064,000, slightly increasing from RMB 1,398,224,000 in the previous year, which is a growth of 0.1%[77] Operating Expenses - Operating expenses decreased by 4.2% to RMB 2,778,553,000 from RMB 2,900,362,000 in the previous year[4] - The company's aviation security and protection expenses were RMB 427,720,000, down about 2.6% year-on-year, primarily due to cost reduction measures[16] - Repair and maintenance expenses decreased by approximately 5.0% to RMB 424,844,000, attributed to enhanced cost control[17] - Financial costs for the six months ended June 30, 2025, were RMB 144,722,000, a decrease from RMB 151,012,000 in 2024, showing a reduction of 4.3%[80] Cash Flow and Liquidity - The net cash generated from operating activities in the first half of 2025 was RMB 982,758,000, significantly up from RMB 136,046,000 in the same period last year[24] - Cash and cash equivalents as of June 30, 2025, were RMB 2,716,935,000, compared to RMB 1,427,698,000 at the end of 2024[23] - The company reported a net cash increase of RMB 1,289,307,000 for the six months ended June 30, 2025, compared to RMB 1,972,578,000 in the same period of 2024[69] - The company has sufficient bank credit facilities available for daily operations and to meet financial obligations due within the next twelve months[73] Assets and Liabilities - Total assets as of June 30, 2025, amounted to RMB 31,556,376 thousand, an increase from RMB 30,675,358 thousand at the end of 2024[66] - Total liabilities rose to RMB 18,261,557 thousand from RMB 17,219,480 thousand, indicating an increase of 6.1%[67] - The company's asset-liability ratio increased to 57.87% as of June 30, 2025, compared to 56.13% at the end of 2024[24] - The total borrowings as of June 30, 2025, amounted to RMB 10,136,722,000, up from RMB 9,517,913,000 as of December 31, 2024, indicating a growth of about 6.5%[106] Shareholder Information - The total issued share capital as of June 30, 2025, was RMB 4,579,178,977, with 4,579,178,977 shares issued at a par value of RMB 1 per share[38] - The major shareholder, Capital Airport Group Co., Ltd., holds 2,699,814,977 domestic shares, representing 58.96% of the total issued shares[39] - The company has a 58.96% equity stake held by the Capital Airport Group as of June 30, 2025, consistent with the previous year[117] Corporate Governance - The Audit and Risk Management Committee, consisting of four independent non-executive directors, is responsible for overseeing the company's financial reporting and risk management[49] - The company has complied with the Corporate Governance Code, with a minor deviation regarding the attendance of non-executive directors at the annual general meeting held on June 27, 2025[51] - The company strictly adhered to the Securities Trading Code for directors and employees during the six months ending June 30, 2025[52] Management Changes - Mr. Song Kun will be appointed as the executive director and chairman of the board starting June 26, 2025[53] - Mr. Li Yongbing will become the general manager of the company starting June 30, 2025[53] - The company will no longer have a supervisory board starting August 28, 2025, following the resignation of Mr. Liu Chuncheng as supervisor and chairman of the supervisory board[55] - The board currently consists of 10 members, including 2 executive directors, 3 non-executive directors, 1 employee director, and 4 independent non-executive directors[57] Future Plans - The company plans to enhance operational efficiency and improve passenger experience in the second half of 2025[20] - The company will focus on optimizing resource allocation and maximizing value in its duty-free business[21] - The company plans to issue up to RMB 4 billion in medium-term notes and RMB 4 billion in short-term financing bonds, pending approval at the extraordinary general meeting on August 28, 2025[48] Miscellaneous - There were no significant mergers or disposals during the six-month period ending June 30, 2025[26] - The company did not conduct any purchases, sales, or redemptions of its listed securities during the same period[27] - The company has no significant investments or plans for major investments, capital assets, or significant financing as of June 30, 2025[30][31] - The company has no major litigation or arbitration cases as of June 30, 2025[36]

来源：格隆汇APP 格隆汇9月26日丨根据联交所最新权益披露资料显示，2025年9月23日，北京首都机场股份(00694.HK)遭 Mitsubishi UFJ Financial Group, Inc.在场内以每股均价2.8271港元减持111.6万股，涉资约315.5万港元。 减持后，Mitsubishi UFJ Financial Group, Inc.最新持股数目为168,838,000股，持股比例由9.04%下降至 8.98%。 | 表相序财 | 大股票/董事/励墓行及人員名 作出授鼎的夏人 / 贺出城市及的 母版的平均價 | | | 持有機益的股份點目 估已發行的內閣事件的目 相關法黨及 個權證借益 | | | --- | --- | --- | --- | --- | --- | | | 反始數目 | | | (具备受上述*E 资股票都股票(日/月/ 份權益 | | | | | | | 伊 出来国际 | | | CS20250925E00007 Mitsubishi UFJ Financial | 110 11 | Sales on France Ca | STATUTION OF COLLEC ...

| 表格序號 | 大股東/董事/最高行政人員名 作出披露的 買入 / 費出或涉及的 每股的平均價 | | | | | 持有權益的股份數目 佔已發行的有關事件的日 相關法 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 原因 | 股份數目 | | | (請參閱上述*註 有投票權股期(日/月/ 份權益 | | | | | | | | | 份百分比 年) | | | | | | | | | 96 | | | CS20250925E00007 | 1201(L) Mitsubishi UFJ Financial | | | 1,116,000(L) | HKD 2.8271 | 168,838,000(L) | 8.98(L)23/09/2025 | | | Group, Inc. | | | | | | | 格隆汇9月26日丨根据联交所最新权益披露资料显示，2025年9月23日，北京首都机场股份(00694.HK)遭Mitsubishi UFJ Financial Group, Inc.在场内以每股均价 2.8271港元减持111.6万股，涉资 ...

Group 1 - Mitsubishi UFJ Financial Group, Inc. reduced its stake in Beijing Capital International Airport (00694) by 1.116 million shares at a price of HKD 2.8271 per share, totaling approximately HKD 3.155 million [1] - After the reduction, Mitsubishi UFJ's latest shareholding stands at approximately 169 million shares, representing a holding percentage of 8.98% [1]

Group 1 - Mitsubishi UFJ Financial Group, Inc. reduced its stake in Beijing Capital International Airport (00694) by 1.116 million shares at a price of HKD 2.8271 per share, totaling approximately HKD 3.155 million [1] - After the reduction, Mitsubishi UFJ Financial Group's remaining shareholding is approximately 169 million shares, representing a holding percentage of 8.98% [1]

Group 1 - Mitsubishi UFJ Financial Group, Inc. reduced its stake in Beijing Capital International Airport (00694) by 1.116 million shares at a price of HKD 2.8271 per share, totaling approximately HKD 3.155 million [1] - After the reduction, Mitsubishi UFJ's latest shareholding stands at approximately 169 million shares, representing a holding percentage of 8.98% [1]

Core Viewpoint - Airline stocks collectively declined, with significant drops observed in major airlines such as China Southern Airlines, Air China, and China Eastern Airlines, indicating a challenging market environment for the sector [1] Group 1: Market Performance - As of the report, China Southern Airlines (600029) fell by 4.93% to HKD 3.86, Air China (601111) decreased by 4.34% to HKD 5.29, China Eastern Airlines (00670) dropped by 2.6% to HKD 3, and Capital Airport (00694) declined by 1.43% to HKD 2.75 [1] - The report from Cathay Securities highlighted a recovery in commercial demand year-on-year for April and May, which supported airlines in reducing fuel costs during the off-peak season, leading to a significant reduction in losses for Q2 [1] Group 2: Demand and Pricing Dynamics - Unexpected weakness in commercial demand during July and August resulted in a lack of profitability during the summer travel season, despite a projected year-on-year increase in summer profits due to the offsetting effects of falling ticket prices and oil prices [1] - The report suggests monitoring the recovery of commercial demand after the important October meetings, with initial signs of strong demand in September potentially indicating that the summer's unexpected weakness may be temporary [1] Group 3: Future Outlook - If the recovery in commercial demand proves sustainable, it is anticipated that the profit center for airlines will significantly rise starting in 2026, with state-owned airlines in China expected to benefit from reduced internal competition [1] - The Civil Aviation Administration of China is expected to continue controlling flight schedule growth for the winter season of 2025/26, which, along with low-price management during the off-peak season, will help airlines significantly reduce losses and potentially achieve profitability for the entire year of 2025 [1]

Core Viewpoint - The aviation stocks have collectively declined, with significant drops observed in major airlines, while a report indicates a mixed outlook for demand recovery and profitability in the upcoming months [1] Group 1: Stock Performance - Southern Airlines (01055) fell by 4.93%, trading at 3.86 HKD [1] - Air China (00753) decreased by 4.34%, trading at 5.29 HKD [1] - Eastern Airlines (00670) dropped by 2.6%, trading at 3 HKD [1] - Capital Airport (00694) declined by 1.43%, trading at 2.75 HKD [1] Group 2: Demand and Profitability Outlook - From April to May, commercial demand showed a year-on-year recovery, supporting airlines in reducing fuel costs during the off-peak season, leading to a significant reduction in losses for Q2 [1] - However, unexpected weakness in commercial demand during July to August resulted in a lack of profitability during the summer travel season [1] - Despite the pressure from reduced commercial demand, a decline in ticket prices and oil prices is expected to offset losses, with summer travel profitability still projected to increase year-on-year [1] Group 3: Future Expectations - The report suggests monitoring the recovery of commercial demand after the important October meetings, with initial signs in September indicating a strong demand that may validate the previous unexpected weakness as a temporary issue [1] - If the recovery in commercial demand proves sustainable, a significant upward shift in airline profitability is anticipated starting in 2026 [1] - The Civil Aviation Administration of China is expected to continue controlling flight schedule growth for the winter season of 2025/26, which, along with low-price management during the off-peak season, will help airlines significantly reduce losses and potentially achieve profitability for the entire year of 2025 [1]

Group 1 - The article emphasizes the importance of adapting security measures at Beijing Capital International Airport in response to seasonal changes, particularly as temperatures drop and travelers adjust their clothing and belongings [1][2] - The airport has implemented specific strategies to enhance security checks, including refining inspection processes for heavier clothing items to improve passenger flow efficiency [1] - Additional warm reminders have been placed in the security area to inform travelers about the inspection requirements for autumn and winter items, ensuring a smoother experience [1][2] Group 2 - The airport's proactive approach includes precise analysis of seasonal travel demands, pre-deployment of service measures, and flexible allocation of personnel to enhance the security screening experience [2] - These efforts aim to maintain a safe, orderly, and pleasant travel environment for passengers at Beijing Capital International Airport [2]

Group 1 - The company announced the convening of the fifth session of the third employee representative assembly on September 16, 2025 [1] - Liu Jiliang was elected as the employee director of the company, with the term starting from the date of the election [1] - The term will last until the end of the ninth board of directors' term, which concludes with the annual general meeting for the fiscal year ending December 31, 2025 [1]