广州白云国际机场股份有限公司 第七届董事会第十九次（临时）会议决议公告 证券代码：600004 证券简称：白云机场 公告编号：2025－012 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。 一、董事会会议召开情况 （一）本次董事会会议的召开符合有关法律、行政法规、部门规 章、规范性文件和《公司章程》的规定。 （二）本次会议通知于 2025 年 3 月 21 日以专人送达、电子邮 件、电话等形式送达各董事及其他参会人员。 （三）本次董事会会议于 2025 年 3 月 28 日以通讯会议的方式召 开。 （四）本次董事会应出席的董事7 人，实际出席会议的董事7人。 （五）根据《公司章程》规定，广州白云国际机场股份有限公司 第七届董事会第十九次（临时）会议由公司董事长、总经理王晓勇先 生召集。 二、董事会会议审议情况 （一）关于白云机场三期扩建空调水蓄冷系统制冷站及站区室外 项目立项的议案 公司第七届董事会投资审查与决策委员会第九次会议审议了该 议案，同意提交董事会进行审议。 董事会表决结果如下：7 票同意，0 票反对，议案获得通过 ...

证券代码：600004 证券简称：白云机场 公告编号：2025－013 广州白云国际机场股份有限公司 关于不行使对参股公司股权回购权的公告 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。 一、参股公司股权回购权基本情况 广州白云国际机场股份有限公司（以下简称"公司""上市公司"） 于 2020 年与广东省机场管理集团有限公司（以下简称"机场集团"） 签订《资产置换协议》，机场集团以所持有的广东空港航合能源有限 公司 100%的股权以及广东省机场管理集团有限公司白云机场铂尔曼 大酒店、广东省机场管理集团有限公司白云机场航湾澳斯特精选酒店 相应的经营性资产及负债与公司所持有的广州白云国际机场航空物 流服务有限公司（现广东省机场集团物流有限公司，以下简称"物流 公司"）51%的股权进行资产置换，差额部分由上市公司以现金补足 （以下简称"本次资产置换"）。 本次资产资产安排中，机场集团同意，自本次资产置换交割之日 起五年内，上市公司享有一次回购物流公司股权的权利，即上市公司 有权要求机场集团将本次资产置换取得的全部物流公司股权（对应同 ...

特此公告。 广州白云国际机场股份有限公司董事会 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。 广州白云国际机场股份有限公司（以下简称"公司"）于 2025 年 1 月 21 日召开第七届董事会第十七次（临时）会议，审议通过《关于 聘任董事会秘书的议案》，同意聘任段冬生先生为公司董事会秘书， 待其取得证券交易所董事会秘书任职培训证明后正式履职（详见公司 2025 年 1 月 22 日披露的《关于变更董事会秘书的公告》，公告编号： 2025-004）。 近日，段冬生先生参加了上海证券交易所 2025 年第 1 期主板上 市公司董事会秘书任职培训，并取得董事会秘书任职培训证明，其董 秘任职备案已经上海证券交易所审核通过，段冬生先生自任职备案审 核通过之日起正式履行董事会秘书职责。 证券代码：600004 证券简称：白云机场 公告编号：2025－010 广州白云国际机场股份有限公司 关于董事会秘书正式履职的公告 2025 年 3 月 20 日 ...

证券代码：600004 证券简称：白云机场 公告编号：2025－011 广州白云国际机场股份有限公司 关于变更公司办公地址的公告 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。 广州白云国际机场股份有限公司（以下简称"公司"）于近日 搬迁至新办公地址，变更前后的情况如下： 一、公司办公地址变更情况 | 变更事项 | 变更前 | 变更后 | | --- | --- | --- | | 办公地址 | 广州白云国际机场南工 | 广州白云国际机场东南 | | | 作区自编一号股份公司 | 工作区空港南横四路综 | | | 本部办公大楼 | 合服务大楼一区 | 鉴于公司办公地址发生变更，公司投资者联系地址相应变更为 "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一 区"，除上述办公地址变更外，公司投资者联系电话、邮箱等均保 持不变，具体为： 2025 年 3 月 20 日 联系地址：广州白云国际机场东南工作区空港南横四路综合服 务大楼一区 邮政编码：510470 投资者联系电话：020-36063593/36063595 电子邮箱 ...

Investment Rating - The report maintains a "Recommended" rating for the transportation industry [1] Core Insights - The report highlights that U.S. sanctions against Iran are intensifying, and OPEC has reached a consensus to increase production, indicating upward potential for the oil tanker sector [2][7] - The express delivery business volume has shown significant year-on-year growth, with a reported increase of 21.5% in 2024 [3] Summary by Sections Weekly Focus - The U.S. government has announced additional sanctions against Iran, targeting several individuals, entities, and vessels involved in Iranian oil exports, including 10 VLCC supertankers, which constitutes about 20% of the global tanker fleet [7] - OPEC has agreed to gradually increase production starting April, aiming to release 2.2 million barrels per day [7] Industry Data Tracking (2025.03.09 – 03.15) Aviation Data - Domestic flight volume for the week was 84,029 flights, averaging 12,004 flights per day, a slight decrease of 0.10% week-on-week and 0.50% year-on-year [10] - Domestic passenger volume reached 11.43 million, a 0.05% increase week-on-week and a 2.12% increase year-on-year [11] - The average domestic ticket price decreased by 3.49% week-on-week and 6.31% year-on-year [11] Express Delivery Data - For the week of March 3-9, the average daily collection volume was approximately 555 million pieces, a 3.99% increase from the previous week [17] - Year-to-date, the average daily collection volume is about 495 million pieces, reflecting a 36.00% increase year-on-year [17] - In 2024, the express delivery business volume increased by 21.5% year-on-year, with revenue up by 13.8% [3] Shipping Data - The BDI index for dry bulk shipping was reported at 1,517 points, a 20% increase week-on-week [48] - The VLCC-TCE rate was $38,329 per day, a 3% decrease week-on-week [49] Recent Key Reports - The report recommends focusing on companies such as COSCO Shipping Energy, Shandong Highway, and China Eastern Airlines, among others, as part of the investment strategy [4]

March 10, 2025 07:00 AM GMT Guangzhou Baiyun Int'l Airport | Asia Pacific Risk Reward Update What's Changed | Guangzhou Baiyun Int'l Airport (600004.SS) | From | To | | --- | --- | --- | | Price Target | Rmb11.60 | Rmb11.00 | | Bull Case | Rmb17.00 | Rmb16.20 | | Base Case | Rmb11.40 | Rmb10.80 | | Bear Case | Rmb7.00 | Rmb6.70 | | Updated Components | | | | EPS | | | | Bull Base Bear Scenarios | | | | om | | --- | | nb11.60 | | nb17.00 | | mb11.40 | | nb7.00 | Risk Reward for Guangzhou Baiyun Int'l Airport ...

Investment Rating - The industry investment rating is "Recommended (Maintain)" [1] Core Insights - The report highlights that the recent decline in oil prices is expected to elevate the profit margins for the aviation sector, with Brent oil prices dropping below $70 per barrel and WTI prices below $67 per barrel [8] - The report suggests that if oil prices remain low, it could lead to cost savings of approximately 4-5 billion yuan for major airlines, equivalent to a ticket price reduction of about 3%-4% [8] - The report emphasizes the importance of monitoring supply-demand dynamics and macroeconomic conditions to ensure that the benefits of lower oil prices translate into profits for the airlines [13] Summary by Sections Weekly Focus - The focus of the week is on the accelerated decline in oil prices, which is expected to enhance the profit margins for the aviation industry [6] Industry Data Tracking (2025.03.02 - 03.08) Aviation High-Frequency Data Tracking - Domestic flight volume for the period was 81,367 flights, with a daily average of 11,624 flights, down 10.07% week-on-week and 7.47% year-on-year [10] - Domestic passenger volume reached 11.0615 million, down 12.05% week-on-week and 4.17% year-on-year [11] - The average full ticket price decreased by 4.76% week-on-week and 3.39% year-on-year [11] - The domestic passenger load factor was 83.18%, an increase of 3.73 percentage points year-on-year [12] - International passenger volume reached 1.315 million, down 5.27% week-on-week but up 26.01% year-on-year [14] Express Delivery High-Frequency Data Tracking - For the week of February 24 to March 2, the average daily express delivery volume was approximately 534 million pieces, with a delivery volume of about 541 million pieces, showing a slight decrease of 0.56% and an increase of 0.05% respectively compared to the previous week [19] - Year-to-date (January 1 to March 2), the average daily express delivery volume was approximately 488 million pieces, up 37.41% year-on-year [20] Shipping High-Frequency Data Tracking - The BDI index for the international dry bulk market was 1,263 points, up 17% week-on-week [51] - The CCFI index for the international container shipping market decreased by 3% week-on-week, while the SCFI index fell by 5% [51] - The VLCC-TCE rate for oil shipping was $39,359 per day, down 1% week-on-week [52] Recent Key Reports - The report includes a recommended investment portfolio consisting of companies such as COSCO Shipping Energy, Shandong Hi-Speed, and China Eastern Airlines, among others [5]

Investment Rating - The report recommends investment in several companies within the aviation and logistics sectors, including China National Aviation (601111.SH), Southern Airlines (600029.SH), and Huamao Logistics (603128.SH) [9]. Core Insights - The report highlights the recovery of air travel demand, with domestic ASK (Available Seat Kilometers) for major airlines exceeding 100% of 2019 levels, indicating a strong rebound in the aviation sector [19][22]. - The logistics sector is expected to benefit from the growth of cross-border e-commerce, driven by domestic demand and the expansion of local manufacturing brands [8]. - The report emphasizes the importance of smart logistics and digital transformation in enhancing operational efficiency and meeting consumer demands [63][66]. Summary by Sections Aviation and Airports - As of December 2024, domestic ASK recovery rates for major airlines reached 132.45% for China National Aviation and 153.98% for Spring Airlines compared to 2019 [19]. - International flight recovery rates vary, with the UK at 112% and Italy at 122% compared to 2019 [22]. - The report notes that the optimism surrounding airport duty-free agreements has been priced in, with future international passenger flow recovery being a key focus [7]. Shipping and Ports - The SCFI (Shanghai Containerized Freight Index) reported a value of 1436 points as of March 7, 2025, reflecting a week-on-week decrease of 5.21% and a year-on-year decrease of 23.83% [28]. - The BDTI (Baltic Dirty Tanker Index) was at 879 points, down 0.86% week-on-week and down 26.01% year-on-year [33]. - The report indicates a significant decline in shipping rates across various routes, with the CCFI (China Containerized Freight Index) showing a decrease of 7.70% year-on-year [28]. Road and Rail - In December 2024, railway freight volume increased by 8.46% year-on-year, reaching 4.59 million tons, while road freight volume grew by 9.94% to 37.74 million tons [39][46]. - The report highlights the expansion of rail capacity in the southwest region, enhancing operational efficiency [60]. Express Logistics - The express delivery sector achieved a revenue of 137.89 billion yuan in December 2024, marking a year-on-year increase of 13.60% [49]. - The average price per express delivery item decreased by 13.61% to 7.75 yuan [49]. - The report emphasizes the growth potential in the express logistics sector, driven by e-commerce and the development of differentiated competitive advantages among leading companies [8].

证券代码：600004 证券简称：白云机场 公告编号：2025-009 三、上述运输生产数据源自公司内部统计，仅供投资者参考。 广州白云国际机场股份有限公司董事会 广州白云国际机场股份有限公司 2025 年 2 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。 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。 2025 年 3 月 7 日 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） 40,096.00 -10.32% 87,903.00 -0.64% 其中：国内航线 31,317.00 -14.96% 68,850.00 -4.91% 地区航线 347.00 -1.70% 734.00 -0.94% 国际航线 8,432.00 12.01% 18,319.00 19.54% 二、旅客吞吐量（人次） 6,314,694.00 -7.97% 13,454,011.00 2.14% 其中：国内航线 ...

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。 三、上述运输生产数据源自公司内部统计，仅供投资者参考。 证券代码：600004 证券简称：白云机场 公告编号：2025-009 广州白云国际机场股份有限公司 2025 年 2 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。 重要说明： 广州白云国际机场股份有限公司董事会 2025 年 3 月 7 日 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） 40,096.00 -10.32% 87,903.00 -0.64% 其中：国内航线 31,317.00 -14.96% 68,850.00 -4.91% 地区航线 347.00 -1.70% 734.00 -0.94% 国际航线 8,432.00 12.01% 18,319.00 19.54% 二、旅客吞吐量（人次） 6,314,694.00 -7.97% 13,454,011.00 2.14% 其中：国内航线 ...