Core Viewpoint - Baiyun Airport (600004.SH) announced a projected passenger throughput of 7.5244 million for December 2025, representing a year-on-year increase of 12.27% [1] - The cumulative passenger throughput for 2025 is expected to reach 83.5877 million, reflecting a year-on-year growth of 9.45% [1] Summary by Category - **Passenger Throughput Forecast** - The forecast for December 2025 indicates a passenger throughput of 7.5244 million, which is a 12.27% increase compared to the previous year [1] - **Cumulative Passenger Throughput** - The total passenger throughput for the year 2025 is projected to be 83.5877 million, showing a growth of 9.45% year-on-year [1]

重要说明： 一、上述数据本月数为快报数据，与实际数据可能存在差异。 二、因存在其他形式的飞行，部分项目分项数字之和与总计数存在 差异。 证券代码：600004 证券简称：白云机场 公告编号：2026-001 广州白云国际机场股份有限公司 2025 年 12 月生产经营数据快报 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 项目 月度 累计 本月数 同比增长 累计数 同比增长 一、起降架次（架次） 49,305.00 7.21% 550,512.00 7.53% 其中：国内航线 37,923.00 5.41% 429,487.00 6.18% 地区航线 452.00 13.00% 4,644.00 0.26% 国际航线 10,930.00 13.68% 116,381.00 13.14% 二、旅客吞吐量（人次） 7,524,448.00 12.27% 83,587,749.00 9.45% 其中：国内航线 5,810,994.00 9.71% 66,140,576.00 7.12% 地区航线 70,909.00 28.99% ...

智通财经APP讯，白云机场(600004.SH)发布公告，公司2025年12月旅客吞吐量752.44万人次，同比增长 12.27%;2025年累计旅客吞吐量8358.77万人次，同比增长9.45%。 ...

格隆汇1月8日｜摩根大通发表报告指，中国机场业踏入2026年迎来国际旅游强劲复苏，但投资者需应对 免税特许权重设，对盈利带来的影响。中国去年国际旅客量按年增长18%至22%，主要机场客流量已超 越疫前水平。该行上调对上海机场评级并视为行业首选，其新成立的免税合资企业预计将推动今明两年 盈利增长12%，并凭借业主+股东模式确立行业领先地位。北京首都机场新合约带来的上行空间有限， 且对旅客增长敏感度较低。白云机场受惠高收益分成模式及强劲国际客流，深圳机场仍以国内业务为 主。 该行把上海机场评级由"中性"上调至"增持"，目标价由35元上调至45元；维持白云机场"增持"评级 及13元目标价；但下调北京首都机场评级至"中性"，目标价由4港元降至3港元；维持深圳机场"减持"评 级及目标价6元。 ...

羊城晚报讯 记者汪海晏、通讯员关悦报道：2025年，在我国签证政策优化、国际航线网络拓展、通关 便利化水平提升等多重利好加持下，广州白云机场口岸国际客货运业务实现明显增长，各项核心指标均 创佳绩，持续巩固全国三大国际航空枢纽地位，成为粤港澳大湾区联通全球的"空中门户"。 据统计，2025年广州海关监管经广州白云机场口岸进出境人员超1860万人次，同比增长约19%；进出境 航班达12.2万架次，同比增长约13%；进出口货运量突破153万吨，同比增长8.3%，稳居全国空港口岸 前列。 "货物等待时间缩减超50%，物流成本显著降低。"广东金羊城供应链科技股份有限公司业务经理黎伟灿 表示，这一创新模式吸引了佛山、东莞、江门等大湾区城市众多企业选择广州白云国际机场作为"出 海"主通道。目前，广州白云机场口岸日均进出口货物超4000吨。 作为中国面向"一带一路"共建国家的重要门户，广州白云机场口岸已构建起覆盖全球105个主要城市的 航线网络，开通国际航线超146条，洲际通航点近30个，其中近70个航点为"一带一路"共建国家主要城 市。 "2025年，我们口岸新增、加密及恢复客货运航线29条，其中13条连接'一带一路'共建 ...

证券日报网讯1月7日，白云机场（600004）在互动平台回答投资者提问时表示，公司始终严格遵守证券 法律法规及交易所监管要求，秉承公平、公正、公开的原则履行信息披露义务。公司高度重视与所有投 资者的沟通，确保信息传递的透明性与一致性。 ...

Core Viewpoint - The aviation and airport sector experienced a slight decline of 0.2% on January 7, with CITIC Hainan Airlines leading the drop. The Shanghai Composite Index rose by 0.05%, while the Shenzhen Component Index increased by 0.06% [1]. Group 1: Stock Performance - Xiamen Airport (600897) closed at 17.72, up by 2.72% with a trading volume of 151,500 shares and a transaction value of 268 million yuan [1]. - Southern Airlines (600029) closed at 8.15, up by 0.74% with a trading volume of 448,600 shares and a transaction value of 366 million yuan [1]. - Spring Airlines (601021) closed at 59.04, up by 0.63% with a trading volume of 63,900 shares and a transaction value of 379 million yuan [1]. - China Eastern Airlines (600115) closed at 6.14, up by 0.16% with a trading volume of 873,400 shares and a transaction value of 538 million yuan [1]. - China National Aviation (601111) closed at 9.15, down by 0.54% with a trading volume of 581,300 shares and a transaction value of 534 million yuan [2]. Group 2: Capital Flow - The aviation and airport sector saw a net outflow of 247 million yuan from institutional investors, while retail investors contributed a net inflow of 184 million yuan [2]. - Xiamen Airport had a net inflow of 41.95 million yuan from institutional investors, accounting for 15.68% of its total trading [3]. - Shanghai Airport experienced a net inflow of 28.87 million yuan from institutional investors, representing 7.73% of its total trading [3]. - China Eastern Airlines had a net outflow of 21.72 million yuan from institutional investors, with retail investors contributing a net inflow of 13.25 million yuan [3].

Summary of Key Points Core Viewpoint - The Guangdong public transportation system experienced a significant surge in passenger flow during the 2026 New Year holiday, with record-breaking numbers in metro, rail, and airport traffic, indicating strong demand for holiday travel and the effectiveness of integrated transport networks in the Greater Bay Area [1][4][11]. Metro System - Guangzhou Metro set a new single-day passenger record of 14.093 million on January 1, 2026, with a total of 31.26 million passengers over the holiday period, marking a 7.5% increase year-on-year [2][3]. - The highest passenger volume on a single line was 5.36 million on Line 3, with major transfer stations like Sports West Road and Jiahe Wanggang seeing significant traffic [2][3]. Railway System - The Guangzhou Railway Bureau reported sending 7.378 million passengers from January 1 to 3, 2026, a 59.1% increase compared to the previous year, with a peak of 2.942 million on January 1 [4][5]. - High-speed rail accounted for 84.9% of the total passenger volume, with major stations like Guangzhou South and Shenzhen North leading in traffic [5]. Airport System - In 2025, Guangzhou Baiyun Airport achieved a record passenger throughput of 83.59 million, with a daily average of 22.9 million, and is projected to exceed 180 million passengers by 2025 [7][8]. - The airport's new T3 terminal has become a popular landmark, enhancing passenger experience and operational efficiency [9][11]. Regional Connectivity - The integration of transport services in the Greater Bay Area, particularly the "one network, one ticket" system between Guangzhou and Foshan, has facilitated cross-city travel, contributing to the surge in passenger numbers [3][11]. - New high-speed rail lines like the Guangzhang and Shantou lines have improved access to the coastal regions, boosting tourism and regional development [6][10].

Core Viewpoint - Shenzhen Airlines has launched a direct flight route from Guangzhou to Hai Phong, Vietnam, marking the first new international route from Guangzhou Baiyun International Airport in 2026 [1] Group 1: Route Details - The new route operates three flights per week [1] - Flight ZH129 departs Guangzhou at 15:55 and arrives in Hai Phong at 17:20, while flight ZH130 leaves Hai Phong at 18:20 and reaches Guangzhou at 21:15 (all times are local) [1] Group 2: Strategic Importance - Guangzhou Baiyun International Airport aims to build a global international route network and continuously optimize airline service support systems [1] - This air route connects the core area of the Guangdong-Hong Kong-Macao Greater Bay Area with the economic center of northern Vietnam, facilitating bilateral economic and cultural exchanges between China and Vietnam [1]

Core Insights - The international passenger and cargo transport business at Guangzhou Baiyun Airport is expected to see significant growth by 2025, driven by optimized visa policies, expanded international route networks, and improved customs facilitation [1] Group 1: Passenger and Cargo Growth - By 2025, over 18.6 million people are projected to pass through the Guangzhou Baiyun Airport, representing a year-on-year increase of approximately 19% [1] - The number of inbound and outbound flights is expected to reach 122,000, marking a year-on-year growth of about 13% [1] - The import and export cargo volume is anticipated to exceed 1.53 million tons, reflecting an 8.3% year-on-year increase [1] Group 2: Route Network Expansion - The airport has established an international route network covering 105 major cities globally, with over 146 international routes and nearly 30 intercontinental destinations [1] - In 2025, 29 new, enhanced, and restored passenger and cargo routes will be added, including 13 connecting to countries and regions involved in the Belt and Road Initiative [1] - New intercontinental destinations such as Madrid and Darwin will be introduced throughout the year [1] Group 3: Customs Facilitation Measures - In the previous year, Guangzhou Customs implemented 20 measures to enhance customs facilitation, including 24-hour customs clearance support and high-tech product customs facilitation [2] - The first "pre-flight security check + pre-customs inspection" cargo station in the country has been operationalized, allowing for a one-stop process for export goods in the comprehensive bonded zone [2]