Group 1 - The core point of the news is the official launch of the new T3 terminal at Guangzhou Baiyun International Airport on October 30, which is part of the major expansion project aimed at enhancing the airport's capacity and supporting the development of a world-class airport cluster in the Guangdong-Hong Kong-Macao Greater Bay Area [1][3]. - The T3 terminal will accommodate several airlines, including China Eastern Airlines, Shanghai Airlines, China United Airlines, Juneyao Airlines, and Okay Airways, which will begin operations there [3][4]. - Passengers traveling with the aforementioned airlines are advised to check flight information and allow sufficient time for check-in, as the cut-off time for domestic departures from T3 is 40 minutes before the scheduled departure [3][4]. Group 2 - The expansion project will result in Baiyun Airport having a total of five runways, two control towers, and three terminals, significantly increasing its operational capacity [1]. - Starting from October 31, all domestic flights for the listed airlines will operate from the T3 terminal, while international flights for China Eastern Airlines will continue to operate from the T1 terminal [4].

Core Viewpoint - The new Terminal 3 (T3) at Baiyun Airport officially opened on October 30, 2023, with several airlines set to operate from this terminal [1] Group 1: Terminal Operations - T3 will initially host Eastern Airlines, Shanghai Airlines, China United Airlines, Juneyao Airlines, and Okay Airlines [1] - International flights for Eastern Airlines will continue to operate from Terminal 1 (T1) for the time being [1]

Core Viewpoint - Guangzhou Baiyun International Airport is expanding its international flight network, enhancing connectivity between China and Thailand, as well as China and India, through new and increased flight routes [2] Group 1: Flight Network Expansion - Starting from October 28, Spring Airlines will increase the frequency of flights from Guangzhou to Bangkok from 7 to 10 flights per week, adding flights on Tuesdays, Thursdays, and Saturdays [2] - The new flight schedule includes Guangzhou to Bangkok Suvarnabhumi flight 9C8893 departing at 05:55 and arriving at 08:20, and the return flight 9C8894 departing at 10:20 and arriving at 14:00 [2] - The existing daily flight from Guangzhou to Bangkok Suvarnabhumi (9C7419) operates at 09:00, arriving at 11:00, with the return flight (9C7420) departing at 21:55 and arriving at 02:00 the next day [2] Group 2: New Routes and Market Impact - IndiGo Airlines will launch a daily direct flight from New Delhi to Guangzhou starting November 10, following the resumption of the Kolkata-Guangzhou route on October 26 [2] - This marks the official restart and intensification of direct flights between China and India after a five-year hiatus, utilizing Airbus A320 aircraft for the new route [2] - The new route is expected to connect India's extensive domestic network with the Chinese market, fostering cooperation in trade, investment, tourism, and education between the two countries [2]

Group 1 - The aviation and airport sector experienced a decline of 1.41% on October 24, with China National Aviation leading the drop [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] - Xiamen Airport saw a closing price of 15.70, with an increase of 2.28%, while China Eastern Airlines closed at 4.85, down 1.82% [1] Group 2 - The aviation and airport sector had a net outflow of 197 million yuan from institutional investors, while retail investors saw a net inflow of 100 million yuan [2] - Shenzhen Airport had a net inflow of 14.99 million yuan from institutional investors, while China National Aviation experienced a net outflow of 10.24 million yuan [2] - The overall capital flow showed that retail investors contributed positively to some stocks, despite the overall sector decline [2]

(一) 股东大会类型和届次 证券代码：600004 证券简称：白云机场 公告编号：2025-052 广州白云国际机场股份有限公司 重要内容提示： 一、 召开会议的基本情况 2025年第一次临时股东大会 召开的日期时间：2025 年 11 月 12 日 14 点 30 分 召开地点：广州白云国际机场东南工作区空港南横四路综合服务大楼三区 关于召开2025年第一次临时股东大会的通知 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。 股东大会召开日期：2025年11月12日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 11 月 12 日 至2025 年 11 月 12 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票 ...

Core Insights - The Guangzhou Baiyun International Airport (referred to as "Baiyun Airport") is set to unveil its T3 terminal, significantly enhancing its capacity and role as a key international aviation hub [2][5][14] - Baiyun Airport's strategic location in South China positions it as a vital gateway to Southeast Asia and Oceania, facilitating rapid connectivity [2][9] - The T3 terminal will increase the airport's annual passenger throughput capacity to over 120 million and cargo capacity to 3.8 million tons, placing it among the world's leading airports [2][5][14] Infrastructure Development - The T3 terminal and associated projects have recently passed construction acceptance, marking a critical step towards operational readiness [5][6] - Baiyun Airport's expansion includes a comprehensive transportation hub that integrates air and rail services, enhancing connectivity within the Guangdong-Hong Kong-Macao Greater Bay Area [6][7][14] - The airport's infrastructure is designed to support high passenger volumes, with projections of daily inbound and outbound traffic reaching approximately 52,000 during peak periods [4][6] Economic Impact - The 138th China Import and Export Fair (Canton Fair) is expected to drive significant international traffic to Baiyun Airport, with a notable increase in passenger numbers from Southeast Asia [3][4] - The airport's strategic initiatives align with China's Belt and Road Initiative, enhancing its role in global trade and commerce [11][12] Competitive Landscape - Baiyun Airport has been recognized as one of the busiest airports in China, competing closely with Beijing and Shanghai airports, each with distinct geographical advantages [8][9][10] - The airport's focus on Southeast Asian markets and its strategic partnerships aim to bolster its international connectivity and competitiveness [11][12] Future Prospects - The T3 terminal is anticipated to facilitate a seamless integration of air and rail transport, significantly improving travel efficiency and expanding the airport's catchment area [7][14] - Baiyun Airport's ongoing development is expected to enhance its capacity to support high-value, time-sensitive logistics, reinforcing its position as a modern trade center [14]

Market Overview - On October 23, the aviation and airport sector rose by 0.38% compared to the previous trading day, with Shenzhen Airport leading the gains [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Stock Performance - Shenzhen Airport (000089) closed at 7.40, up 3.06% with a trading volume of 554,900 shares and a turnover of 408 million yuan [1] - Xiamen Airport (600897) closed at 15.35, up 1.12% with a trading volume of 67,900 shares and a turnover of 105 million yuan [1] - China Eastern Airlines (600115) closed at 4.94, up 0.82% with a trading volume of 966,200 shares and a turnover of 473 million yuan [1] - China Southern Airlines (600029) closed at 6.66, up 0.45% with a trading volume of 608,500 shares and a turnover of 403 million yuan [1] Capital Flow - The aviation and airport sector saw a net inflow of 32.22 million yuan from institutional investors, while retail investors experienced a net inflow of 35.07 million yuan [2] - However, speculative funds recorded a net outflow of 67.29 million yuan [2] Individual Stock Capital Flow - China Southern Airlines (600029) had a net inflow of 69.47 million yuan from institutional investors, while it faced a net outflow of 34.49 million yuan from speculative funds [3] - China Eastern Airlines (600115) saw a net inflow of 39.42 million yuan from institutional investors, with a net outflow of 3.79 million yuan from speculative funds [3] - Shenzhen Airport (000089) experienced a net outflow of 11.13 million yuan from institutional investors, but had a net inflow of 5.62 million yuan from retail investors [3]

Group 1 - The establishment of a new company, China Duty Free (Guangzhou) Co., Ltd., has been registered with a capital of 45 million yuan [1] - The legal representative of the new company is Li Jia, and its business scope includes food sales, internet sales, cosmetics retail, and electronic product sales [1] - The shareholders of the company are China Duty Free Group Co., Ltd. holding 51% and Baiyun Airport (600004) holding 49% [1]

Market Overview - On October 22, the aviation and airport sector declined by 0.19% compared to the previous trading day, with Huaxia Airlines leading the decline [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Stock Performance - Key stocks in the aviation and airport sector showed mixed performance, with China Eastern Airlines up by 0.82% to 4.90, while Huaxia Airlines fell by 2.36% to 10.77 [2][3] - The trading volume and turnover for major stocks included: - China Eastern Airlines: 1.0972 million shares, turnover of 534 million yuan - Huaxia Airlines: 327,400 shares, turnover of 351 million yuan - Xiamen Airport: 48,400 shares, turnover of 73.69 million yuan [1][2] Capital Flow - The aviation and airport sector experienced a net outflow of 152 million yuan from institutional investors, while retail investors saw a net inflow of 168 million yuan [2][3] - Detailed capital flow for selected stocks included: - China Eastern Airlines: Net inflow of 50.62 million yuan from institutional investors - Huaxia Airlines: Net inflow of 2.51 million yuan from institutional investors - Xiamen Airport: Net outflow of 6.81 million yuan from institutional investors [3]

Core Viewpoint - The establishment of China Duty Free Group Baiyun Airport Duty-Free Goods (Guangzhou) Co., Ltd. indicates a strategic expansion in the duty-free retail sector, with a registered capital of 45 million RMB and a diverse range of business operations [1]. Company Information - The company was founded on October 20, 2025, and is currently in a state of existence [1]. - The legal representative is Li Jia, and the company is registered under the unified social credit code 91440100MAEXW3136J [1]. - The registered address is located at the T3 main building of Guangzhou Baiyun International Airport [1]. Business Scope - The business operations include the sale of pre-packaged food, health food, infant formula, cosmetics, electronic products, and various retail categories such as clothing, daily necessities, and duty-free goods [1]. - The company also engages in the sale of jewelry, toys, sports equipment, and tobacco products [1]. Shareholding Structure - The ownership structure consists of China Duty Free Group Co., Ltd. holding 51% and Guangzhou Baiyun International Airport Co., Ltd. holding 49% [1].