[Important Notice](index=3&type=section&id=Item%20I.%20Important%20Notice) This section contains the company's statement on the authenticity and completeness of the quarterly report and confirms it is unaudited [Statement on Report Authenticity and Unaudited Status](index=3&type=section&id=Statement%20on%20Report%20Authenticity%20and%20Unaudited%20Status) Company's board, supervisory board, and senior management affirm the quarterly report's truthfulness, accuracy, and completeness, with all directors attending the review, and confirm the financial statements are unaudited - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, assuming individual and joint legal responsibility[4](index=4&type=chunk) - All directors attended the board meeting to review the quarterly report[4](index=4&type=chunk) - Liu Jianqiang (Company Head), Ma Xinhang (Head of Accounting), and Deng Yonggang (Head of Accounting Department) guarantee the truthfulness, accuracy, and completeness of the financial statements in the quarterly report[4](index=4&type=chunk) - This third-quarter report is **unaudited**[4](index=4&type=chunk) [Company's Key Financial Data and Shareholder Changes](index=3&type=section&id=Item%20II.%20Company%27s%20Key%20Financial%20Data%20and%20Shareholder%20Changes) This section details the company's financial performance, including asset and profit growth, and outlines shareholder structure [Key Financial Data](index=3&type=section&id=2.1%20Key%20Financial%20Data) Total assets and net assets attributable to shareholders increased by the end of the reporting period, with significant year-on-year growth in revenue, net profit, and non-recurring net profit, alongside improved EPS and ROE, primarily driven by government subsidies and non-current asset disposal gains Key Balance Sheet Indicators as of the End of the Reporting Period | Indicator | End of Reporting Period (CNY) | End of Previous Year (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 11,718,328,142.92 | 11,073,897,755.11 | 5.82 | | Net Assets Attributable to Shareholders of Listed Company | 9,239,508,610.34 | 8,490,736,974.15 | 8.82 | Key Profit and Cash Flow Indicators from Year-Beginning to End of Reporting Period | Indicator | Year-Beginning to End of Reporting Period (Jan-Sep, CNY) | Year-Beginning to End of Previous Reporting Period (Jan-Sep, CNY) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 1,209,008,984.12 | 1,141,974,147.04 | 5.87 | | Operating Revenue | 4,196,487,790.03 | 4,079,988,837.69 | 2.86 | | Net Profit Attributable to Shareholders of Listed Company | 926,277,348.71 | 744,891,353.11 | 24.35 | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses | 910,266,848.94 | 728,634,643.20 | 24.93 | | Weighted Average Return on Net Assets (%) | 10.48 | 9.36 | Increase 1.12 percentage points | | Basic Earnings Per Share (CNY/share) | 0.81 | 0.65 | 24.62 | | Diluted Earnings Per Share (CNY/share) | 0.81 | 0.65 | 24.62 | Non-Recurring Gains and Losses Items and Amounts (Year-Beginning to End of Reporting Period) | Item | Amount from Year-Beginning to End of Reporting Period (Jan-Sep, CNY) | | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | 782,130.02 | | Government Subsidies Included in Current Profit/Loss | 19,183,600.00 | | Other Non-Operating Income and Expenses Apart from the Above | -1,548,515.10 | | Income Tax Impact | -4,604,303.73 | | Impact on Minority Interests (After Tax) | -592,721.35 | | **Total** | **13,220,189.84** | [Total Number of Shareholders, Top Ten Shareholders, and Top Ten Circulating Shareholders (or Shareholders with Unlimited Conditions) as of the End of the Reporting Period](index=5&type=section&id=2.2%20Total%20Number%20of%20Shareholders%2C%20Top%20Ten%20Shareholders%2C%20and%20Top%20Ten%20Circulating%20Shareholders%20(or%20Shareholders%20with%20Unlimited%20Conditions)%20as%20of%20the%20End%20of%20the%20Reporting%20Period) As of the end of the reporting period, the company had 41,524 shareholders, with Guangdong Airport Management Group Co., Ltd. holding 61.96% as the largest shareholder, and all top ten shareholders holding unrestricted circulating shares - As of the end of the reporting period, the total number of shareholders was **41,524**[11](index=11&type=chunk) Top Ten Shareholders' Shareholding | Shareholder Name | Number of Shares Held at Period-End (shares) | Proportion (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | Guangdong Airport Management Group Co., Ltd. | 712,591,458 | 61.96 | State-owned Legal Person | | Central Huijin Investment Ltd. | 28,941,200 | 2.52 | State-owned Legal Person | | Haitong Securities Co., Ltd. | 22,200,000 | 1.93 | Unknown | | China Securities Finance Corporation Limited | 15,866,104 | 1.38 | State-owned Legal Person | | HKSCC Nominees Limited | 11,685,717 | 1.02 | Unknown | | DEUTSCHE BANK AKTIENGESELLSCHAFT | 8,206,171 | 0.71 | Unknown | | ICBC Credit Suisse Fund - Agricultural Bank of China - ICBC Credit Suisse CSI Financial Asset Management Plan | 8,091,600 | 0.70 | Unknown | | Harvest Fund - Agricultural Bank of China - Harvest CSI Financial Asset Management Plan | 8,091,600 | 0.70 | Unknown | | China Europe Fund - Agricultural Bank of China - China Europe CSI Financial Asset Management Plan | 8,091,600 | 0.70 | Unknown | | Dacheng Fund - Agricultural Bank of China - Dacheng CSI Financial Asset Management Plan | 8,022,112 | 0.70 | Unknown | - All shares held by the top ten shareholders are **unrestricted circulating shares**[11](index=11&type=chunk) - It is unknown whether the aforementioned top ten shareholders have any affiliated relationships or act in concert[11](index=11&type=chunk) [Total Number of Preferred Shareholders, Top Ten Preferred Shareholders, and Top Ten Preferred Shareholders with Unlimited Conditions as of the End of the Reporting Period](index=6&type=section&id=2.3%20Total%20Number%20of%20Preferred%20Shareholders%2C%20Top%20Ten%20Preferred%20Shareholders%2C%20and%20Top%20Ten%20Preferred%20Shareholders%20with%20Unlimited%20Conditions%20as%20of%20the%20End%20of%20the%20Reporting%20Period) The company has no preferred shareholders - Disclosure of preferred shareholder information is **not applicable** to this company[12](index=12&type=chunk) [Significant Events](index=6&type=section&id=Item%20III.%20Significant%20Events) This section outlines major changes in financial statement items, progress of significant matters, and shareholder commitments [Significant Changes and Reasons for Major Accounting Statement Items and Financial Indicators](index=6&type=section&id=3.1%20Significant%20Changes%20and%20Reasons%20for%20Major%20Accounting%20Statement%20Items%20and%20Financial%20Indicators) Major accounting item changes are primarily due to T2 airport expansion, leading to decreased cash, receivables, and deferred tax liabilities, while construction in progress and capital expenditures increased, with financial expenses rising due to increased bank deposits; the company is also pursuing a CNY 3.5 billion convertible bond issuance for the expansion project - The company plans to publicly issue convertible corporate bonds not exceeding **CNY 3.5 billion**, with proceeds entirely allocated to the Guangzhou Baiyun International Airport expansion project's terminal area, pending CSRC approval[12](index=12&type=chunk)[13](index=13&type=chunk) - **Cash and cash equivalents decreased**, primarily due to payments for T2 and other airport expansion projects[13](index=13&type=chunk) - **Construction in progress increased**, mainly due to the company's investment in T2 and other airport expansion projects[13](index=13&type=chunk) - **Deferred income tax liabilities and other comprehensive income decreased**, primarily due to the decline in the share price of Everbright Bank held by the company[13](index=13&type=chunk) - **Financial expenses (net income) increased by 75.99% year-on-year**, mainly due to an increase in bank demand deposits[13](index=13&type=chunk)[29](index=29&type=chunk) [Analysis and Explanation of Progress, Impact, and Solutions for Significant Events](index=6&type=section&id=3.2%20Analysis%20and%20Explanation%20of%20Progress%2C%20Impact%2C%20and%20Solutions%20for%20Significant%20Events) This section contains no specific content disclosure [Fulfillment of Commitments by the Company and Shareholders Holding 5% or More of Shares](index=7&type=section&id=3.3%20Fulfillment%20of%20Commitments%20by%20the%20Company%20and%20Shareholders%20Holding%205%25%20or%20More%20of%20Shares) Guangdong Airport Management Group Co., Ltd., the controlling shareholder, committed not to reduce its shareholding in the company during the latter half of 2015 - The controlling shareholder, Guangdong Airport Management Group Co., Ltd., committed not to reduce its shareholding in the company between **July 8, 2015, and December 31, 2015**[14](index=14&type=chunk) [Warning and Explanation of Reasons for Potential Cumulative Net Profit Loss or Significant Change from Year-Beginning to End of Next Reporting Period Compared to the Same Period Last Year](index=7&type=section&id=3.4%20Warning%20and%20Explanation%20of%20Reasons%20for%20Potential%20Cumulative%20Net%20Profit%20Loss%20or%20Significant%20Change%20from%20Year-Beginning%20to%20End%20of%20Next%20Reporting%20Period%20Compared%20to%20the%20Same%20Period%20Last%20Year) The company did not disclose any warnings regarding potential cumulative net profit loss or significant changes from year-beginning to the end of the next reporting period - This disclosure item is **not applicable** to the company[14](index=14&type=chunk) [Appendix](index=8&type=section&id=Item%20IV.%20Appendix) This section provides the company's unaudited financial statements, including balance sheets, income statements, and cash flow statements [Financial Statements](index=8&type=section&id=4.1%20Financial%20Statements) The appendix includes the company's unaudited consolidated and parent company balance sheets, income statements, and cash flow statements, detailing financial position, operating results, and cash flows as of the reporting period end [Consolidated Balance Sheet](index=8&type=section&id=Consolidated%20Balance%20Sheet) As of September 30, 2015, consolidated total assets were CNY 11.72 billion, up 5.82% from the year-beginning, driven by a 25.69% increase in non-current assets due to significant T2 expansion, while current assets decreased by 29.17% due to reduced cash Consolidated Balance Sheet Key Item Changes (Period-End vs Year-Beginning) | Item | Period-End Balance (CNY) | Year-Beginning Balance (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,772,978,964.99 | 3,132,739,399.92 | -43.39 | | Total Current Assets | 2,840,583,843.00 | 4,010,585,580.67 | -29.17 | | Construction in Progress | 2,207,704,318.80 | 13,910,736.41 | 15770.50 | | Total Non-Current Assets | 8,877,744,299.92 | 7,063,312,174.44 | 25.69 | | Total Assets | 11,718,328,142.92 | 11,073,897,755.11 | 5.82 | | Employee Benefits Payable | 314,912,646.01 | 208,550,589.71 | 51.01 | | Deferred Income Tax Liabilities | 22,696,122.77 | 33,466,500.27 | -32.18 | | Other Comprehensive Income | 68,088,368.30 | 100,399,500.80 | -32.19 | [Parent Company Balance Sheet](index=11&type=section&id=Parent%20Company%20Balance%20Sheet) As of September 30, 2015, parent company total assets were CNY 11.21 billion, up 6.60% from the year-beginning, with non-current assets significantly increasing by 26.70% due to construction in progress, while current assets decreased by 32.39% due to reduced cash Parent Company Balance Sheet Key Item Changes (Period-End vs Year-Beginning) | Item | Period-End Balance (CNY) | Year-Beginning Balance (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,268,815,183.85 | 2,697,165,959.66 | -52.95 | | Total Current Assets | 2,411,085,202.74 | 3,570,158,024.02 | -32.39 | | Construction in Progress | 2,207,704,318.80 | 13,910,736.41 | 15770.50 | | Total Non-Current Assets | 8,796,371,470.20 | 6,942,969,098.48 | 26.70 | | Total Assets | 11,207,456,672.94 | 10,513,127,122.50 | 6.60 | | Employee Benefits Payable | 227,416,681.09 | 140,538,604.40 | 61.82 | | Deferred Income Tax Liabilities | 22,696,122.77 | 33,466,500.27 | -32.18 | | Other Comprehensive Income | 68,088,368.30 | 100,399,500.80 | -32.19 | [Consolidated Income Statement](index=14&type=section&id=Consolidated%20Income%20Statement) From year-beginning to the end of the reporting period, consolidated operating revenue grew by 2.86% to CNY 4.20 billion, with operating profit and net profit increasing by 23.96% and 21.06% respectively, driven by a 4.25% decrease in total operating costs, while basic EPS rose by 24.62% Consolidated Income Statement Key Indicator Changes (Year-Beginning to End of Reporting Period vs Same Period Last Year) | Item | Amount from Year-Beginning to End of Reporting Period (Jan-Sep, CNY) | Amount from Year-Beginning to End of Previous Reporting Period (Jan-Sep, CNY) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 4,196,487,790.03 | 4,079,988,837.69 | 2.86 | | Total Operating Costs | 2,922,531,397.73 | 3,052,362,503.66 | -4.25 | | Operating Costs | 2,517,395,939.85 | 2,677,452,727.93 | -5.98 | | Administrative Expenses | 322,818,634.85 | 281,980,813.13 | 14.48 | | Financial Expenses | -28,916,349.99 | -16,430,831.49 | 75.99 (Net Income Increase) | | Operating Profit | 1,275,701,417.70 | 1,029,156,691.55 | 23.96 | | Net Profit | 963,266,648.28 | 795,687,915.22 | 21.06 | | Net Profit Attributable to Owners of the Parent Company | 926,277,348.71 | 744,891,353.11 | 24.35 | | Basic Earnings Per Share (CNY/share) | 0.81 | 0.65 | 24.62 | | Net Amount of Other Comprehensive Income After Tax | -32,311,132.50 | 3,497,536.66 | -1023.70 | [Parent Company Income Statement](index=17&type=section&id=Parent%20Company%20Income%20Statement) From year-beginning to the end of the reporting period, parent company operating revenue increased by 4.61% to CNY 3.24 billion, with operating profit and net profit rising by 35.38% and 32.26% respectively, while financial expenses shifted from net income to net expense, and other comprehensive income after tax was negative Parent Company Income Statement Key Indicator Changes (Year-Beginning to End of Reporting Period vs Same Period Last Year) | Item | Amount from Year-Beginning to End of Reporting Period (Jan-Sep, CNY) | Amount from Year-Beginning to End of Previous Reporting Period (Jan-Sep, CNY) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 3,240,445,045.64 | 3,097,860,064.62 | 4.61 | | Operating Costs | 1,880,826,429.96 | 2,030,142,219.03 | -7.35 | | Administrative Expenses | 235,350,378.76 | 202,459,785.05 | 16.25 | | Financial Expenses | -17,483,889.07 | -3,307,934.19 | 428.60 (Net Income Increase) | | Operating Profit | 1,068,477,643.43 | 789,256,281.86 | 35.38 | | Net Profit | 805,425,512.54 | 608,937,792.03 | 32.26 | | Net Amount of Other Comprehensive Income After Tax | -32,311,132.50 | 3,497,536.66 | -1023.70 | [Consolidated Cash Flow Statement](index=19&type=section&id=Consolidated%20Cash%20Flow%20Statement) From year-beginning to the end of the reporting period, net cash flow from operating activities was CNY 1.21 billion, up 5.87%, while net cash flow from investing activities significantly decreased to negative CNY 2.23 billion due to substantial capital expenditures for T2 airport expansion, resulting in a net decrease of CNY 1.36 billion in cash and cash equivalents Consolidated Cash Flow Statement Key Indicator Changes (Year-Beginning to End of Reporting Period vs Same Period Last Year) | Item | Amount from Year-Beginning to End of Reporting Period (Jan-Sep, CNY) | Amount from Year-Beginning to End of Previous Reporting Period (Jan-Sep, CNY) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 1,209,008,984.12 | 1,141,974,147.04 | 5.87 | | Cash Paid for Acquisition of Fixed Assets, Intangible Assets, and Other Long-Term Assets | 2,215,300,722.81 | 38,553,786.42 | 5658.00 | | Net Cash Flow from Investing Activities | -2,231,964,828.26 | -38,553,786.42 | -5690.00 | | Cash Paid for Distribution of Dividends, Profits, or Interest Payments | 336,804,590.79 | 418,577,563.57 | -19.53 | | Net Increase in Cash and Cash Equivalents | -1,359,760,434.93 | 684,842,797.05 | -298.57 | [Parent Company Cash Flow Statement](index=21&type=section&id=Parent%20Company%20Cash%20Flow%20Statement) From year-beginning to the end of the reporting period, parent company net cash flow from operating activities was CNY 1.10 billion, a slight decrease, while net cash flow from investing activities significantly decreased to negative CNY 2.20 billion due to substantial capital expenditures for fixed assets, resulting in a net decrease of CNY 1.43 billion in cash and cash equivalents Parent Company Cash Flow Statement Key Indicator Changes (Year-Beginning to End of Reporting Period vs Same Period Last Year) | Item | Amount from Year-Beginning to End of Reporting Period (Jan-Sep, CNY) | Amount from Year-Beginning to End of Previous Reporting Period (Jan-Sep, CNY) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 1,104,404,666.08 | 1,148,835,908.70 | -3.87 | | Cash Paid for Acquisition of Fixed Assets, Intangible Assets, and Other Long-Term Assets | 2,191,816,336.44 | 15,047,910.79 | 14466.00 | | Net Cash Flow from Investing Activities | -2,199,255,441.89 | -15,047,910.79 | -14510.00 | | Cash Paid for Distribution of Dividends, Profits, or Interest Payments | 333,500,000.00 | 418,577,563.57 | -20.32 | | Net Increase in Cash and Cash Equivalents | -1,428,350,775.81 | 715,210,434.34 | -299.79 | [Audit Report](index=22&type=section&id=4.2%20Audit%20Report) This quarterly report is unaudited - The audit report is **not applicable** to this quarterly report[48](index=48&type=chunk)

Financial Performance - The company achieved an operating revenue of CNY 2,773,932,728.75, representing a 3.45% increase compared to the same period last year[17]. - The net profit attributable to shareholders reached CNY 618,245,247.40, marking a 17.91% increase year-on-year[17]. - The basic earnings per share increased to CNY 0.54, up 17.39% from CNY 0.46 in the previous year[17]. - The total passenger throughput was 27.3 million, reflecting a 2.2% year-on-year growth[21]. - The company completed 201,700 aircraft takeoffs and landings, a 0.8% increase compared to the previous year[21]. - The cargo and mail throughput reached 729,100 tons, showing a significant growth of 7.33% year-on-year[21]. - The net cash flow from operating activities was CNY 1,064,719,807.89, an increase of 28.67% compared to the previous year[17]. - The weighted average return on equity rose to 7.03%, an increase of 0.47 percentage points from the previous year[17]. - The company's total assets increased by 6.48% to CNY 11,791,024,574.39 compared to the end of the previous year[17]. - Operating revenue increased by 3.45% to CNY 2,773,932,728.75 compared to the previous year[24]. - Operating costs decreased by 4.30% to CNY 1,668,575,136.21, leading to an improved gross margin[24]. - Net cash flow from operating activities rose by 28.67% to CNY 1,064,719,807.89[24]. - The airline transportation segment generated revenue of CNY 2,380,479,938.65, with a gross margin of 48.89%[28]. Investments and Expansion - The company established a 20,000 square meter cross-border e-commerce logistics park at Baiyun Airport to enhance air logistics development[22]. - The company is actively expanding its international aviation market through partnerships and resource allocation[22]. - Baiyun Airport's strategic location in the Pearl River Delta supports its growth as a key international aviation hub[30]. - The company plans to publicly issue up to RMB 3.5 billion in convertible bonds to fund the expansion of Guangzhou Baiyun International Airport[57]. - The company plans to continue its airport expansion project and has appointed Guangdong Civil Aviation Airport Construction Co., Ltd. for project management[53]. Shareholder Returns - The company distributed a total profit of RMB 333.5 million to shareholders, with a cash dividend of RMB 2.90 per 10 shares[45]. - The company holds 43,081,510 shares of China Everbright Bank, with a market value of CNY 230,916,893.60, reflecting a profit of CNY 20,679,124.80 during the reporting period[32]. - The company’s major shareholder, Guangdong Airport Management Group Co., holds 61.96% of the shares[62]. - The top ten shareholders include Deutsche Bank Aktiengesellschaft and Shenzhen Qingshuiyuan Investment Management Co., holding 1.16% and 1.02% of shares respectively[62]. Legal and Corporate Governance - The company has been involved in a legal dispute regarding advertising media resources, which was resolved in its favor by the Guangdong High Court[56]. - The company’s board of directors saw changes with the resignation of three members due to age and personal reasons[66]. - The company has not reported any changes in the number of restricted shares during the reporting period[60]. - The company’s total number of shares and capital structure remained unchanged during the reporting period[59]. Financial Position and Assets - Current assets decreased from ¥4,010,585,580.67 to ¥3,204,413,261.57, a decline of approximately 20%[70]. - Cash and cash equivalents decreased from ¥3,132,739,399.92 to ¥2,276,520,605.70, a reduction of about 27.4%[70]. - Total non-current assets increased from ¥7,063,312,174.44 to ¥8,586,611,312.82, an increase of about 21.5%[72]. - Total liabilities increased from ¥2,217,310,143.64 to ¥2,627,249,031.94, an increase of about 18.5%[74]. - Total equity attributable to shareholders increased from ¥8,490,736,974.15 to ¥8,979,296,985.13, an increase of approximately 5.8%[74]. Accounting and Financial Reporting - The company’s financial statements are prepared in accordance with Chinese accounting standards, with the balance sheet dated June 30, 2015[69]. - The company recognizes the acquisition cost in a business combination as the fair value of the assets, liabilities, and equity securities issued on the acquisition date[120]. - The consolidated financial statements are prepared based on control, including special purpose entities controlled by the parent company[121]. - The company conducts impairment testing on financial assets, recognizing impairment losses when the carrying amount exceeds the present value of expected future cash flows[136]. - The company applies an aging analysis method for estimating bad debt provisions, with specific percentages for different aging categories, such as 5% for receivables within 1 year and 80% for receivables over 3 years[140]. Cash Flow and Liquidity - The total cash and cash equivalents at the end of the period amounted to CNY 2,276,520,605.70, down from CNY 3,132,739,399.92 at the beginning of the period, representing a decrease of approximately 27.4%[178]. - The company reported a total cash inflow from operating activities of ¥3,086,161,199.55, up from ¥2,680,258,861.59, reflecting a growth of approximately 15%[92]. - The net cash flow from investing activities was negative at -¥1,768,181,550.09, compared to -¥10,810,882.97 in the prior period, reflecting increased investment expenditures[97]. Employee Compensation and Benefits - The company recognizes employee compensation liabilities, including wages, bonuses, and social insurance, during the accounting period when services are provided[21]. - The company classifies post-employment benefits into defined contribution plans and defined benefit plans, with liabilities recognized based on the calculated contributions during the service period[165].

Financial Performance - Net profit attributable to shareholders rose by 24.20% to CNY 309,451,513.69 year-on-year[6] - Operating revenue grew by 7.87% to CNY 1,389,542,513.23 compared to the same period last year[6] - Basic earnings per share improved by 23.96% to CNY 0.269[6] - Net profit for Q1 2015 reached CNY 323,870,176.92, representing a 21.7% increase compared to CNY 266,014,710.68 in Q1 2014[30] - The net profit attributable to shareholders of the parent company was CNY 309,451,513.69, up from CNY 249,154,031.79, marking a growth of 24.2%[30] Assets and Liabilities - Total assets increased by 4.40% to CNY 11,561,246,283.55 compared to the end of the previous year[6] - Total current assets increased to ¥4,645,257,239.20 from ¥4,010,585,580.67, reflecting a growth of approximately 15.8%[15] - Total liabilities increased to ¥2,388,710,165.04 from ¥2,217,310,143.64, showing a rise of approximately 7.7%[19] - Total equity attributable to shareholders rose to ¥8,795,341,817.96 from ¥8,490,736,974.15, indicating an increase of about 3.6%[19] Cash Flow - Net cash flow from operating activities surged by 102.95% to CNY 224,087,496.09 year-on-year[6] - Operating cash inflow for Q1 2015 was CNY 1,177,162,560.13, an increase of 8.2% from CNY 1,088,045,244.02 in the previous period[39] - Cash inflow from operating activities for the parent company was CNY 1,559,469,610.37, up from CNY 1,307,942,708.29, reflecting a growth of 19.2%[44] - The company reported a net increase in cash and cash equivalents of CNY 214,283,066.05 for the quarter, compared to CNY 97,237,153.72 in the previous period, representing a growth of 120.1%[41] Shareholder Information - The total number of shareholders reached 52,791 at the end of the reporting period[10] - Guangdong Airport Management Group Co., Ltd. holds 61.96% of the shares, making it the largest shareholder[10] Government Support and Other Income - Government subsidies recognized during the period amounted to CNY 5,762,757.58, related to various infrastructure projects[8] - Non-recurring gains and losses totaled CNY 4,671,300.79 for the reporting period[8] Financial Expenses - The company reported a decrease in financial expenses primarily due to an increase in bank deposits[15] - The company reported a financial expense of CNY -8,760,256.54, compared to CNY -3,727,444.49 in the previous year, indicating a decrease in financial costs[30]

Financial Performance - The company's operating revenue for 2014 was CNY 5,527,678,576.31, representing a 7.51% increase compared to CNY 5,141,313,419.26 in 2013[27] - The net profit attributable to shareholders for 2014 was CNY 1,087,642,575.52, which is a 21.53% increase from CNY 894,957,615.68 in 2013[27] - The basic earnings per share for 2014 was CNY 0.95, reflecting a 21.79% increase from CNY 0.78 in 2013[28] - The weighted average return on equity increased by 1.47 percentage points to 13.38% in 2014 from 11.91% in 2013[28] - The total operating revenue for 2014 was approximately CNY 5.53 billion, representing a growth of 7.51% compared to CNY 5.14 billion in the previous year[39] - The company achieved an operating income of CNY 4,708,136,666.07 in the aviation transportation sector, with a year-on-year increase of 8.31%[48] - The gross profit margin in the aviation transportation sector increased by 1.36 percentage points to 39.21%[48] - The company reported a total of CNY 1.36 billion in labor costs, accounting for 39.99% of total costs, an increase of 7.98% from the previous year[44] Cash Flow and Investments - The net cash flow from operating activities decreased by 7.23% to CNY 1,823,799,354.15 in 2014 from CNY 1,965,968,927.28 in 2013[27] - Cash received from investment income amounted to CNY 7,410,019.72, a significant increase of 190.36%[46] - The cash paid for investments was CNY 17,500,000.00, indicating no new investments made during the period[46] - The cash paid for debt repayment was CNY 882,000,000.00, reflecting that the company had no outstanding debts[46] - The company's cash and cash equivalents increased by 80.03% to CNY 3,132,739,399.92, attributed to business expansion and improved operating performance[52] - The ending cash and cash equivalents balance increased to CNY 3,058,941,799.92, up from CNY 1,707,230,536.61 in the previous period[175] Assets and Liabilities - The total assets at the end of 2014 were CNY 11,073,897,755.11, an increase of 11.30% from CNY 9,949,739,743.54 at the end of 2013[27] - Total liabilities rose to CNY 2,217,310,143.64, compared to CNY 1,923,354,621.93, marking an increase of about 15.3%[157] - Current liabilities totaled CNY 2,012,158,149.83, up from CNY 1,729,594,470.82, reflecting a growth of approximately 16.3%[157] - Total equity increased to CNY 8,856,587,611.47 from CNY 8,026,385,121.61, representing a growth of about 10.3%[159] Operational Highlights - In 2014, the company achieved a passenger throughput of 54.78 million, a year-on-year increase of 4.4%[36] - The company completed 412,000 aircraft takeoffs and landings in 2014, reflecting a growth of 4.5% year-on-year[36] - The cargo and mail throughput reached 1.454 million tons, with a growth rate of 11%, ranking first among the five major airports in the country[36] - The company added 13 new international routes in 2014, including 9 passenger routes and 4 cargo routes[37] Dividend and Shareholder Information - The company plans to distribute a cash dividend of CNY 2.90 per 10 shares, totaling CNY 333,500,000.00 based on the total share capital of 1,150,000,000 shares as of December 31, 2014[6] - In 2014, the company distributed cash dividends amounting to approximately 1,087.64 million RMB, with a payout ratio of 30.66% of the net profit attributable to shareholders[78] - The total number of shareholders at the end of the reporting period is 59,297, an increase from 52,656 prior to the report[103] Strategic Initiatives and Future Outlook - The company aims for a passenger throughput of 74.02 million in 2015, focusing on optimizing transformation as a core strategy[70] - The company plans to enhance its international business and accelerate logistics development to create new economic growth points[69] - The company is focusing on building a comprehensive transportation hub and improving operational efficiency to enhance profitability[69] - The company aims to create a world-class airport construction and operation management group by 2015[109] Governance and Compliance - The company has maintained a stable relationship with its auditor, Guangdong Zhengzhong Zhujiang Accounting Firm, with an audit fee of 1 million RMB for the year[84] - There were no significant legal disputes, asset transactions, or bankruptcy restructuring matters reported during the period[80] - The company has not faced any major environmental issues during the reporting period, fulfilling its social responsibility commitments[77] - The company has established a performance evaluation system for senior management, aiming to enhance the evaluation standards and incentive mechanisms[137] Employee and Management Information - The total number of employees in the parent company is 6,616, while the total number of employees in major subsidiaries is 5,660, resulting in a combined total of 12,276 employees[127] - The total remuneration for senior management during the reporting period amounts to CNY 1,059.65 million (before tax)[120] - The company executed a compensation policy based on the "Interim Measures for Performance Assessment of Guangzhou Baiyun International Airport Co., Ltd." during the reporting period[128] Financial Reporting and Accounting - The company has received a standard unqualified audit opinion for its financial statements, confirming compliance with accounting standards[154] - The financial statements are prepared based on the going concern principle, indicating that the company has the ability to continue its operations for at least 12 months from the reporting date[193] - The company adheres to the accounting standards issued by the Ministry of Finance, ensuring that the financial statements reflect a true and complete picture of its financial position, operating results, and cash flows[194]

Financial Performance - Net profit attributable to shareholders increased by 12.08% to CNY 744,891,353.11 for the first nine months of the year[6]. - Operating revenue for the first nine months rose by 7.46% to CNY 4,079,988,837.69 compared to the same period last year[6]. - Basic earnings per share increased by 12.11% to CNY 0.648[8]. - The weighted average return on equity increased by 0.42 percentage points to 9.36%[8]. - Total operating revenue for Q3 was approximately CNY 1.40 billion, an increase of 4.9% compared to CNY 1.33 billion in the same period last year[28]. - Net profit for Q3 reached approximately CNY 238.06 million, a slight increase of 4.0% from CNY 228.33 million in the same quarter last year[29]. - Operating profit for Q3 was approximately CNY 327.22 million, up 9.3% from CNY 299.36 million in the same period last year[29]. - Comprehensive income for Q3 totaled approximately CNY 245.49 million, compared to CNY 227.01 million in the previous year, reflecting an increase of 8.1%[29]. Assets and Liabilities - Total assets increased by 5.77% to CNY 10,524,004,870.88 compared to the end of the previous year[6]. - Current assets totaled RMB 3,468,023,767.76, up from RMB 2,475,283,956.77, indicating a significant increase of about 40.1%[19]. - Non-current assets decreased to RMB 7,055,981,103.12 from RMB 7,474,455,786.77, reflecting a decline of approximately 5.6%[19]. - Total liabilities reached RMB 2,124,827,842.14, compared to RMB 1,923,354,621.93 at the beginning of the year, marking an increase of around 10.5%[19]. - Owner's equity totaled RMB 8,399,177,028.74, up from RMB 8,026,385,121.61, which is an increase of about 4.6%[19]. Cash Flow - The net cash flow from operating activities decreased by 19.91% to CNY 1,141,974,147.04 year-to-date[6]. - Cash inflow from operating activities for the year-to-date period reached ¥4,031,299,711.08, an increase of 3.3% compared to ¥3,902,205,117.25 in the previous year[38]. - The net increase in cash and cash equivalents was ¥684,842,797.05, significantly higher than the previous year's increase of ¥50,846,839.47[40]. - The ending balance of cash and cash equivalents reached ¥2,392,073,333.66, compared to ¥1,200,137,468.45 at the end of the previous year, marking an increase of 99.3%[40]. - Cash outflow from financing activities totaled ¥418,577,563.57, down from ¥1,288,060,417.54, indicating a reduction of 67.5% year-over-year[40]. Shareholder Information - The total number of shareholders reached 56,163 at the end of the reporting period[10]. - Guangdong Airport Management Group Co., Ltd. holds 61.96% of the shares, totaling 712,591,458 shares[10]. Investment and Financial Expenses - The company reported an increase in investment income due to new joint ventures[11]. - Financial expenses decreased significantly as the company did not incur borrowings compared to the same period last year[11]. - The company experienced a decrease in financial expenses, reporting a net financial income of approximately CNY 4.15 million for Q3, compared to a cost of CNY 1.94 million in the previous year[28]. - The company reported an investment income of approximately CNY 326.33 thousand for Q3[29].

Financial Performance - The company achieved operating revenue of CNY 2,681,437,778.79, representing an increase of 8.90% compared to the same period last year[15]. - Net profit attributable to shareholders reached CNY 524,344,963.94, up 16.17% year-on-year[15]. - Passenger throughput reached 26.7177 million, an increase of 4.5% compared to the previous year[18]. - The company completed 200,100 aircraft takeoffs and landings, reflecting a growth of 4.1% year-on-year[18]. - The total assets increased to CNY 10,562,606,715.88, a growth of 6.16% from the end of the previous year[15]. - The net cash flow from operating activities was CNY 827,492,221.07, down 7.62% from the previous year[15]. - The weighted average return on net assets increased to 6.56%, up by 0.5 percentage points year-on-year[15]. - The company's revenue from the aviation services sector reached approximately CNY 2.3 billion, with a gross profit margin of 45.96%, reflecting an increase of 1.46 percentage points year-on-year[23]. - Total operating revenue for the first half of 2014 reached ¥2,681,437,778.79, an increase of 8.9% compared to ¥2,462,324,707.53 in the same period last year[61]. - Net profit attributable to shareholders of the parent company was ¥524,344,963.94, up 16.2% from ¥451,345,703.26 year-on-year[61]. - Basic and diluted earnings per share increased to ¥0.46 from ¥0.39, reflecting a growth of 17.9%[61]. - Operating profit for the first half of 2014 was ¥701,939,960.01, representing a 12.9% increase from ¥621,521,936.99 in the previous year[61]. - Total comprehensive income for the period was ¥553,694,670.01, compared to ¥473,652,761.39 in the previous year, marking a growth of 16.9%[61]. Asset and Liability Management - The total liabilities as of June 30, 2014, were RMB 2,409,420,469.01, up from RMB 1,923,354,621.93, indicating an increase of about 25.3%[55]. - The total equity attributable to shareholders of the parent company was RMB 7,823,024,003.54, compared to RMB 7,728,113,063.42 at the beginning of the period, reflecting a growth of approximately 1.23%[55]. - The company's total liabilities at the end of the reporting period amounted to ¥2,838,634,002.98, up from ¥2,024,719,446.20 at the beginning of the period[59]. - The total accounts payable at the end of the period is 79,883,495.67, a decrease from 98,905,573.69 at the beginning of the period[182]. - The total dividends payable at the end of the period is 431,702,103.41, significantly up from 5,418,558.63 at the beginning of the period[189]. - The total employee compensation payable at the end of the period is 266,334,386.13, an increase from 209,102,432.97 at the beginning of the period, reflecting a net increase of 57,231,953.16[187]. Investment and Capital Structure - The company holds a total investment of CNY 78 million in Everbright Bank, with a year-end book value of CNY 109.43 million, resulting in a loss of CNY 5.33 million during the reporting period[24]. - The company has completed the acquisition of the main aviation assets of the new Baiyun Airport, resulting in a change in revenue allocation where the company now retains 100% of the take-off fees and ground service fees[35]. - The company has applied for approval to change its status to the project legal entity for the Guangzhou Baiyun Airport expansion project, which has a total investment of RMB 179.81 billion[42]. - The company has a 51% stake in Guangzhou Baiyun International Airport Ground Service Co., with an actual investment of CNY 3,506.35 million[137]. - The company has a 90% stake in Guangzhou Baiyun International Business Travel Service Co., with an actual investment of CNY 1,350.00 million[138]. - The company has a 75% stake in Guangzhou Baiyun International Advertising Co., with an actual investment of CNY 2,250.00 million[138]. - The company has a 70% stake in Guangzhou Baiyun International Lufthansa Catering Co., with an actual investment of CNY 4,485.00 million[138]. Corporate Governance and Compliance - The company has maintained a stable shareholding structure, with the largest shareholder, Guangdong Airport Management Group Co., Ltd., holding 61.96% of the shares[45]. - There have been no changes in the company's controlling shareholder or actual controller during the reporting period[47]. - The company continues to comply with corporate governance standards as per the requirements of the Company Law and relevant regulations[38]. - The company has not engaged in any major contracts or transactions outside of the revenue allocation and settlement agreements[36]. - The company has not issued any preferred shares during the reporting period[49]. - The company has not experienced any major litigation, arbitration, or media scrutiny during the reporting period[36]. Cash Flow and Liquidity - The company's cash and cash equivalents increased by 46.05% to CNY 2,541,501,669.49, attributed to increased revenue and collection of receivables[21]. - Cash and cash equivalents at the end of the period were ¥2,508,602,869.49, an increase from ¥1,791,907,633.49 at the beginning of the period[66]. - The net cash flow from operating activities was RMB 936,593,800.37, up from RMB 641,874,496.50, indicating a rise of about 46%[68]. - The company's cash balance as of June 30, 2014, was CNY 2,541,501,669.49, an increase from CNY 1,740,129,336.61 at the beginning of the period[142]. - The total bank deposits as of June 30, 2014, were CNY 2,504,137,327.97, reflecting a strong liquidity position[142]. Financial Reporting and Accounting Policies - The company’s financial statements comply with the requirements of the accounting standards, reflecting a true and complete picture of its financial status[80]. - The company has no changes in accounting policies or estimates for the current period[130]. - The company recognizes revenue from various services when the service has been provided, economic benefits are expected to flow, and revenue can be reliably measured[120]. - The company’s income tax rate is set at 25%[135]. - The company’s deferred tax assets and liabilities are recognized based on temporary differences and applicable tax rates[125]. Employee Compensation and Benefits - The company’s employee compensation includes wages, bonuses, and various social insurance contributions[119].

Financial Performance - Net profit attributable to shareholders increased by 15.15% to CNY 249,154,031.79 compared to the same period last year[9] - Operating revenue rose by 8.77% to CNY 1,288,196,061.04 compared to the same period last year[9] - Basic earnings per share increased by 15.43% to CNY 0.217 compared to the same period last year[9] - Operating profit reached CNY 345,950,972.03, reflecting a growth of 12.3% from CNY 308,155,719.99 in the prior period[20] - The total comprehensive income for the current period is CNY 260,190,718.07, which is a 9.9% increase from CNY 236,758,687.45 in the previous period[20] - The operating costs for the current period were CNY 824,476,872.63, which is an increase of 9.1% from CNY 755,928,102.27 in the previous period[20] Assets and Liabilities - Total assets increased by 2.94% to CNY 10,242,058,040.48 compared to the end of the previous year[9] - Total current assets increased to ¥2,922,758,850.48 from ¥2,475,283,956.77, representing a growth of approximately 18.0%[13] - Total non-current assets decreased to ¥7,319,299,190.00 from ¥7,474,455,786.77, a decline of about 2.1%[13] - Total liabilities increased to ¥1,956,875,745.58 from ¥1,923,354,621.93, reflecting a rise of approximately 1.7%[14] - Shareholders' equity rose to ¥8,285,182,294.90 from ¥8,026,385,121.61, indicating an increase of about 3.2%[14] Cash Flow - Net cash flow from operating activities decreased by 49.11% to CNY 110,414,871.86 compared to the same period last year[9] - The net cash flow from financing activities was -$101,335,000[33] - The net increase in cash and cash equivalents was $179,195,122.01, a decrease of $3,746,459.21 compared to the previous period[33] - The cash and cash equivalents at the end of the period amounted to CNY 1,804,467,690.33, an increase from CNY 1,167,843,838.60 in the previous period[28] Shareholder Information - The total number of shareholders reached 65,633 at the end of the reporting period[10] - Guangdong Airport Management Group Co., Ltd. holds 61.96% of the shares, making it the largest shareholder[10] Accounts Receivable and Other Income - The increase in accounts receivable was mainly due to new airport fee items in the first quarter[11] - Government subsidies received contributed to an increase in non-operating income[11] - Accounts receivable increased significantly to ¥910,700,869.08 from ¥578,314,837.77, marking a growth of approximately 57.3%[13] Other Financial Metrics - The weighted average return on equity increased by 0.223 percentage points to 3.173% compared to the same period last year[9] - The company reported a decrease in other comprehensive income, with a loss of CNY 5,823,992.61 compared to a gain of CNY 5,610,000.00 in the previous period[20] - The company has ongoing construction projects with an increase in construction in progress to ¥13,635,684.43 from ¥9,585,270.00, reflecting a growth of approximately 42.5%[13] - The company has not disclosed any new product developments or market expansion strategies in the current report[20]

Financial Performance - In 2013, the company achieved operating revenue of CNY 5,141,313,419.26, representing a year-on-year increase of 10.01%[18] - The net profit attributable to shareholders was CNY 894,957,615.68, an increase of 18.84% compared to the previous year[18] - The passenger throughput reached 52.45 million, reflecting an 8.6% year-on-year growth[24] - The company completed 394,000 aircraft takeoffs and landings, marking a 5.6% increase from the previous year[24] - The net cash flow from operating activities was CNY 1,965,968,927.28, an increase of 9.42% year-on-year[18] - Operating costs rose to ¥3,261,251,903.25, marking a 14.31% increase from ¥2,852,876,091.11 in the previous year[27] - The gross profit margin in the air transportation sector decreased by 1.86 percentage points, with a gross profit margin of 37.85%[29] - The company reported a total comprehensive income of CNY 937,102,199.58 for the year[126] Assets and Liabilities - The total assets at the end of 2013 were CNY 9,949,739,743.54, a decrease of 1.92% compared to the previous year[18] - Total liabilities decreased to CNY 1,923,354,621.93 from CNY 2,671,605,395.55, indicating a reduction in financial obligations[112] - Shareholders' equity increased to CNY 8,026,385,121.61 from CNY 7,472,691,790.17, reflecting a growth in the company's net worth[112] - The company had no short-term borrowings as of the end of 2013, compared to CNY 800,000,000.00 at the beginning of the year[112] Cash Flow - The company’s cash and cash equivalents increased by 49.54% to ¥1,740,129,336.61, compared to ¥1,163,691,950.81 in the previous year[31] - The ending balance of cash and cash equivalents increased to ¥1,707,230,536.61, up from ¥1,149,290,628.98 last year[123] - Cash outflow for purchasing goods and services rose to ¥1,241,180,395.85, an increase of 25.5% from ¥988,278,326.88[123] - Cash flow from financing activities resulted in a net outflow of -¥1,314,034,216.90, compared to -¥1,202,538,334.63 in the previous period[123] Dividends and Profit Distribution - The company plans to distribute a cash dividend of CNY 3.7 per 10 shares, totaling CNY 425,500,000.00[4] - The cash dividend policy stipulates that when the company is profitable, it will distribute at least 30% of the average distributable profit over the last three years in cash[52] - The company distributed CNY 379,500,000.00 to shareholders, which is a decrease compared to the previous year's distribution of CNY 402,500,000.00[128] Operational Developments - The company implemented over 20 service enhancement projects, including website upgrades and the launch of a mobile client[24] - The company added 13 new international routes and 6 new international destinations, bringing the total to 60 international and regional destinations[25] - The airport's cargo handling capacity increased from 100,000 tons to 520,000 tons following the full operation of the international cargo terminal[25] - The company has successfully implemented a 24-hour international transit passenger exemption policy, enhancing operational efficiency[25] Strategic Initiatives - The company plans to continue expanding its international and transit business, aiming to enhance service quality and maintain its position among the top ten service airports globally[32] - The company plans to enhance its international and transfer business to establish itself as a world-class aviation hub, supporting China Southern Airlines' international strategy[49] - The company aims to enhance the international competitiveness of Guangdong's aviation industry through the integration of airport management and resource allocation[74] Governance and Management - The company has a diverse board with members having extensive experience in various roles within the Guangdong Airport Management Group[80][81][82] - The total remuneration for the board members and senior management during the reporting period amounted to 1376.86 million yuan, with an average of 268.50 million yuan per person[79] - The company’s governance structure includes a mix of internal and independent directors, ensuring a balanced oversight mechanism[80][81] - The company has established a performance evaluation system for senior management, aiming to enhance the evaluation standards and incentive mechanisms for directors, supervisors, and senior management[92] Compliance and Auditing - The annual financial report was audited by Guangdong Zhengzhong Zhujiang Accounting Firm, which issued a standard unqualified audit opinion[105] - The company disclosed information in accordance with the Company Law and the Shanghai Stock Exchange listing rules, ensuring transparency and fairness in information dissemination[92] - The internal control audit report issued by Guangdong Zhengzhong Zhujiang Accounting Firm confirmed the effectiveness of the internal control system[102] Risks and Challenges - The company has identified risks including regulatory changes affecting service fees and potential impacts from adverse weather conditions[51] - Guangzhou Baiyun International Airport is facing intense competition from other airports in the Pearl River Delta region, including Hong Kong and Macau[51] - The company’s revenue from passenger services and related ground services was subject to a 3% business tax prior to November 1, 2012, after which it transitioned to a 6% value-added tax[188][189]