Core Insights - The Guangzhou border inspection station anticipates a total passenger flow of approximately 149,000 during the Dragon Boat Festival holiday, representing a year-on-year increase of about 27.6% compared to the 2024 holiday [1] - The introduction of a new international flight route to Uzbekistan and the implementation of visa exemption policies are expected to further boost passenger traffic at Baiyun Airport [2] Passenger Flow Estimates - Daily average passenger flow at Baiyun International Airport is projected to be 48,000, with other ports like Nansha Passenger Port at 800, Dongguan Humen Passenger Port at 150, and Pazhou Hong Kong-Macao Passenger Terminal at 700 during the holiday [1] - Baiyun Airport is expected to see a daily average of 48,000 passengers during the holiday, with a year-on-year growth of 27.9%, and peak days may exceed 51,000 passengers [2] International Flight Operations - Baiyun Airport is expected to operate over 240 international flights daily during the holiday, reflecting a year-on-year increase of 15.9% [2] - The new international flight route to Uzbekistan commenced on May 19, and the visa exemption agreement with Uzbekistan will take effect on June 1, which is anticipated to increase passenger flow [2] Peak Travel Periods - The peak outbound travel dates are expected to be May 30 and May 31, while the peak inbound travel dates are June 1 and June 2 [2] - Specific peak hours for inbound and outbound traffic at T1 and T2 terminals have been identified, with T1 inbound peaks from 1-3 AM and 3-6 PM, and T2 inbound peaks from 5:30-7 AM and 12-3 PM [2]

Core Viewpoint - Baiyun Airport aims to achieve a passenger throughput of over 80 million for the year 2025 despite slow growth in Q1 due to ongoing construction impacts [2]. Financial Performance - In Q1 2025, Baiyun Airport reported a main revenue of 1.822 billion yuan, an increase of 9.52% year-on-year; net profit attributable to shareholders was 296 million yuan, up 57.71% year-on-year; and net profit excluding non-recurring items was 265 million yuan, a rise of 42.38% year-on-year [5]. - The company's debt ratio stands at 31.0%, with investment income of 28.53 million yuan and financial expenses of 19.58 million yuan, resulting in a gross profit margin of 27.85% [5]. Asset Depreciation - The depreciation period for terminal buildings is set at 40 years, while the main runway has a depreciation period of 30 years; other related facilities and equipment have varying depreciation periods from 4 to 15 years [4]. Profit Distribution Policy - The company emphasizes investor returns, with a historical dividend payout ratio of approximately 47%. It has established a medium to long-term cash dividend plan and aims to provide continuous and stable cash dividends to investors, sharing development results [5]. Market Ratings - Over the past 90 days, four institutions have rated the stock, with two buy ratings and two hold ratings. The average target price from institutions is 10.95 yuan [5]. Financing and Margin Data - In the last three months, the stock has seen a net outflow of 121 million yuan in financing, with a decrease in financing balance; however, there has been a net inflow of 1.4481 million yuan in securities lending, indicating an increase in securities lending balance [7].

Meeting Overview - The annual general meeting of shareholders for Guangzhou Baiyun International Airport Co., Ltd. is scheduled for June 5, 2025, at 14:30 [1][2] - The meeting will be held at the comprehensive service building in the southeast work area of Guangzhou Baiyun International Airport [1][2] - Voting will be conducted through a combination of on-site and online methods using the Shanghai Stock Exchange voting system [1][2] Voting Details - The voting time for the on-site meeting is from 9:15 to 15:00 on the day of the meeting [1][2] - Shareholders can vote via the trading system from 9:15-9:25, 9:30-11:30, and 13:00-15:00 [1][2] - The online voting system will be available from 9:15 to 15:00 on the meeting day [1][2] Agenda and Proposals - The meeting will review several proposals, with specific proposals already approved by the board and supervisory committee [2] - There are no related shareholders required to abstain from voting [2] Attendance and Registration - Shareholders registered by the close of trading on May 27, 2025, are eligible to attend the meeting [6] - Shareholders must complete registration procedures to attend the meeting, including providing necessary identification and documentation [6][7] Proxy Voting - Shareholders can appoint proxies to attend and vote on their behalf, with specific documentation required for proxy representation [6][7] - Multiple accounts held by a shareholder can be used to vote, but the total voting rights will be based on the aggregate shares held [4][5] Additional Information - The meeting is expected to last half a day, and attendees are responsible for their own travel and accommodation expenses [8] - Contact information for inquiries is provided, including phone numbers and email addresses [8]

广州白云国际机场股份有限公司 2024 年度股东大会会议材料 2025 年 6 月 5 日 2024 年度股东大会会议材料 目录 | 1. | 会 议 | | 须 | 知 | 1 | | --- | --- | --- | --- | --- | --- | | 2. | 会 议 | | 议 | 程 | 3 | | 3. | 2024 | 年度董事会工作报告 | | | 4 | | 4. | 2024 | 年度监事会工作报告 | | | 13 | | 5. | 2024 | 年度财务决算报告 | | | 18 | | 6. | 公司 2024 | | | 年度报告 | 20 | | 7. | 2024 | 年度利润分配方案 | | | 21 | | 8. | 独立董事 | | 2024 | 年度履职报告 | 24 | | | 独立董事 | | 2024 | 年度履职报告 （覃章高） | 24 | | | 独立董事 | | 2024 | 年度履职报告 （王利亚） | 31 | | | 独立董事 | | 2024 | 年度履职报告 （邢益强） | 39 | | | 独立董事 | | 2024 | 年度履职报告 （ ...

重要内容提示： 广州白云国际机场股份有限公司（以下简称"公司"或"本公司"）于 2025 年 5 月 17 日在《证券时报》、《中国证券报》、《上海证券报》及上海证券交易所 网站 www.sse.com.cn 上刊登了《关于召开 2024 年年度股东大会的通知》。现就 公司 2024 年年度股东大会有关事项发布提示性公告如下： 一、 召开会议的基本情况 (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：2025-027 广州白云国际机场股份有限公司 关于召开2024年年度股东大会的提示性公告 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。 2024年年度股东大会 召开的日期时间：2025 年 6 月 5 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 股东大会召开日期：2025年6月5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 ...

广州白云国际机场股份有限公司拟向特定对象发行股票，募集资金不超过160,000.00万元，用于补充流 动资金。截至2024年12月31日，公司货币资金余额为473,092.13万元，扣除受限货币资金后，可自由支 配资金为471,861.36万元。公司流动资产小于流动负债，营运资金为负。本次发行将提高公司流动比率 和速动比率，增强偿债能力。未来三年资金缺口为206,945.51万元，超过募集资金总额。公司2024年营 业收入742,359.72万元，同比增长15.44%，净利润96,575.30万元，同比增长100.78%。公司涉及三起诉 讼/仲裁案件，涉案金额合计61,951.42万元，其中两起已裁决，一起尚在审理中。 业绩披露要点 截至2025年5月23日收盘，白云机场（600004）报收于9.28元，较上周的9.39元下跌1.17%。本周，白云 机场5月20日盘中最高价报9.58元。5月23日盘中最低价报9.28元。白云机场当前最新总市值219.63亿 元，在航空机场板块市值排名8/12，在两市A股市值排名693/5148。 本周关注点 公司公告汇总 股本股东变化 广州白云国际机场股份有限公司计划于202 ...

Investment Rating - The report maintains a "Recommendation" rating for the company, indicating an expectation of outperforming the benchmark index by 10%-20% in the next six months [1][19]. Core Insights - The company is expected to benefit from its investment in a city duty-free store in Guangzhou, capitalizing on the growth of inbound consumption and sharing in duty-free revenues [1]. - The report highlights the recovery of inbound tourism, with a significant increase in international visitors, which is projected to enhance the company's profitability [7]. - The establishment of a city duty-free store aligns with recent policy changes aimed at promoting duty-free shopping, which is expected to create synergies among various stakeholders involved in tourism and retail [7]. Financial Summary - Total revenue projections for the company are as follows: 2024A: 7,424 million, 2025E: 8,182 million, 2026E: 9,703 million, 2027E: 10,289 million, with growth rates of 15.4%, 10.2%, 18.6%, and 6.0% respectively [3][8]. - The net profit attributable to the parent company is forecasted to be: 2024A: 926 million, 2025E: 1,215 million, 2026E: 939 million, 2027E: 1,110 million, with growth rates of 109.5%, 31.3%, -22.7%, and 18.2% respectively [3][8]. - Earnings per share (EPS) are projected to be: 2024A: 0.39, 2025E: 0.51, 2026E: 0.40, 2027E: 0.47 [3][8]. - The target price for the company's stock is set at 11.5 yuan, representing a 23% upside from the current price of 9.35 yuan [3][7].

Core Viewpoint - Guangzhou Baiyun Airport is experiencing significant flight delays due to adverse weather conditions, affecting over 400 flights as of May 23, 15:50 [1] Group 1: Flight Delays - More than 400 flights have been delayed at Guangzhou Baiyun Airport, impacting both arrivals and departures [1] - 17 inbound flights have been diverted to alternative airports, including Shenzhen Bao'an Airport, Zhuhai Jinwan Airport, Nanchang Changbei Airport, Changsha Huanghua Airport, and Jieyang Chaoshan Airport [1]

特此公告。 广州白云国际机场股份有限公司董事会 2025 年 5 月 22 日 广州白云国际机场股份有限公司（以下简称"公司"）于 2025 年 2 月 27 日收到上海证券交易所出具的上证上审（再融资）〔2025〕39 号《关于广州白云国际机场股份有限公司向特定对象发行股票申请文 件的审核问询函》（以下简称《审核问询函》）。 公司按照《审核问询函》的要求，会同相关中介机构对《审核问 询函》所列问题进行了认真研究并逐项落实，对有关问题逐一作出回 复，同时对募集说明书等申请文件的部分内容进行了相应补充和修订， 具体内容详见公司于 2025 年 4 月 22 日在上海证券交易所网站 （www.sse.com.cn）披露的《关于广州白云国际机场股份有限公司向 特定对象发行股票申请文件的审核问询函的回复》《广州白云国际机 场股份有限公司 2024 年度向特定对象发行 A 股股票募集说明书（申 报稿）》相关文件。 鉴于公司已于 2025 年 4 月 30 日披露了《广州白云国际机场股份 有限公司 2024 年年度报告》，同时根据审核意见，公司会同相关中 介机构对募集说明书、审核问询函回复等申请文件中涉及的财务数据 及其 ...

广州白云国际机场股份有限公司 （住所：广州市白云国际机场南工作区自编一号） 2024 年度向特定对象发行 A 股股票 募集说明书 （申报稿） 保荐机构（主承销商） 中国国际金融股份有限公司 （北京市朝阳区建国门外大街 1 号国贸大厦 2 座 27 层及 28 层） 二〇二五年五月 证券代码：600004 证券简称：白云机场 广州白云国际机场股份有限公司 募集说明书 公司声明 1、本公司及全体董事、监事、高级管理人员承诺募集说明书及其他信息披露资料 不存在任何虚假记载、误导性陈述或重大遗漏，并对其真实性、准确性及完整性承担相 应的法律责任。 2、公司负责人、主管会计工作负责人及会计机构负责人保证募集说明书中财务会 计资料真实、完整。 3、中国证券监督管理委员会、上海证券交易所对本次发行所作的任何决定或意见， 均不表明其对申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其 对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与之 相反的声明均属虚假不实陈述。 4、根据《证券法》的规定，证券依法发行后，发行人经营与收益的变化，由发行 人自行负责。投资者自主判断发行人的投资价值，自主 ...