Core Insights - Shanghai Airport reported a revenue of 9.714 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 5.69% [1] - The net profit attributable to shareholders reached 1.634 billion yuan, up 35.98% year-on-year, while the net profit excluding non-recurring items was 1.609 billion yuan, reflecting a 36.29% increase [1] - Basic earnings per share stood at 0.66 yuan [1] Financial Performance - The gross profit margin for the first three quarters was 26.63%, an increase of 4.07 percentage points year-on-year, while the net profit margin was 19.36%, up 3.80 percentage points from the previous year [2] - In Q3 2025, the gross profit margin was 27.05%, showing a year-on-year increase of 4.62% and a quarter-on-quarter increase of 1.12% [2] - The net profit margin for Q3 was 20.30%, which is a 5.57% increase year-on-year and a 1.03 percentage point increase from the previous quarter [2] Cost Structure - Total operating expenses for the period were 0.812 billion yuan, an increase of 31.31 million yuan year-on-year, with an expense ratio of 8.36%, down 0.14 percentage points from the previous year [2] - Management expenses increased by 12.29% year-on-year, while research and development expenses surged by 190.37%, and financial expenses decreased by 7.53% [2] Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 181,100, a decrease of 2,982 or 1.62% from the end of the previous half [2] - The average market value per shareholder increased from 429,400 yuan at the end of the previous half to 438,100 yuan, reflecting a growth of 2.03% [2] Company Overview - Shanghai International Airport Co., Ltd. is located at 900 Qihang Road, Pudong New District, Shanghai, and was established on February 11, 1998, with its listing date on February 18, 1998 [3] - The company primarily provides ground handling services for domestic and international airlines and passengers, with non-aeronautical revenue accounting for 54.10% and aeronautical revenue for 45.90% of total revenue [3] - Key revenue sources include passenger and cargo airline services (27.63%), other non-aeronautical income (23.81%), flight-related income (18.27%), commercial catering (17.17%), and logistics services (13.12%) [3]

证券代码：600009 证券简称：上海机场 公告编号：临2025-051 上海国际机场股份有限公司 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。 重要内容提示： 回购注销原因： 根据《上海国际机场股份有限公司A股限制性股票激励计划（草案修订稿）》（以 下简称"《激励计划》"或"本激励计划"）的相关规定及上海国际机场股份有限公司 （以下简称"上海机场"或"公司"）2024年第一次临时股东大会的授权，鉴于本激励 计划首次授予的289名激励对象中13名激励对象存在解除劳动关系、职务变动等情况， 经公司董事会审议决定，公司将回购注销该13名激励对象的部分已获授但尚未解除限售 的限制性股票合计168,300股。 本次注销股份的有关情况： | 回购股份数量（股） | 注销股份数量（股） | 注销日期 | | --- | --- | --- | | 168,300 | 168,300 | 2025年11月4日 | 一、本次限制性股票回购注销的决策和信息披露 2025年8月28日，公司召开第九届董事会第二十六次会议，审议通过了《关于回购 注 ...

上海市锦天城律师事务所 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于上海国际机场股份有限公司 限制性股票回购注销相关事项之 关于上海国际机场股份有限公司 限制性股票回购注销相关事项之 法律意见书 致：上海国际机场股份有限公司 敬启者： 为出具本法律意见书，本所声明如下： 1. 本所及本法律意见书的签字律师已依据《证券法》、《律师事务所从事证 券法律业务管理办法》和《律师事务所证券法律业务执业规则》等规定及本法律 意见书出具日以前已经发生或者存在的事实，严格履行法定职责，遵循勤勉尽责 和诚实信用原则，进行了充分的核查验证，保证本法律意见所认定的事实真实、 准确、完整，所发表的结论性意见合法、准确，不存在虚假记载、误导性陈述或 者重大遗漏； 2. 为出具本法律意见书，本所律师审查了公司提供的与出具本法律意见书 1 第一部分 引言 上海市锦天城律师事务所（以下简称"本所"）受上海国际机场股份有限公司 （以下简称"上海机场"或"公司" ...

Financial Performance - The company's operating revenue for the third quarter reached ¥3,360,558,477.71, an increase of 7.46% compared to the same period last year[4] - Total profit for the quarter was ¥842,102,996.75, reflecting a significant increase of 54.46% year-on-year[4] - Net profit attributable to shareholders was ¥589,859,706.85, up by 52.52% compared to the previous year[4] - The net profit after deducting non-recurring gains and losses was ¥581,978,919.64, marking a 55.15% increase year-on-year[4] - Basic earnings per share for the quarter were ¥0.24, a rise of 50.00% compared to the same period last year[5] - Total operating revenue for the first three quarters of 2025 reached ¥9,713,925,367.87, an increase of 5.68% compared to ¥9,190,859,564.62 in the same period of 2024[22] - Net profit for the first three quarters of 2025 was ¥1,881,040,256.74, representing a growth of 31.4% from ¥1,430,649,327.85 in the first three quarters of 2024[23] - Operating profit increased to ¥2,305,148,785.11 in 2025, up from ¥1,673,180,545.19 in 2024, marking a growth of 37.7%[23] - The basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.66, up from ¥0.48 in 2024, reflecting enhanced profitability[24] - The company's total profit for the first three quarters of 2025 was ¥1,212,006,785.46, an increase of 89.8% compared to ¥637,579,149.16 in the same period of 2024[34] Assets and Liabilities - Total assets at the end of the reporting period were ¥69,678,818,106.02, a slight decrease of 0.52% from the previous year-end[5] - As of September 30, 2025, the total current assets were RMB 20.6 billion, an increase from RMB 19.8 billion in the previous year[17] - The cash and cash equivalents stood at RMB 16.05 billion, compared to RMB 14.85 billion as of December 31, 2024[16] - The long-term equity investments increased to RMB 4.73 billion from RMB 4.41 billion year-on-year[17] - Total assets decreased slightly to ¥69,678,818,106.02 in 2025 from ¥70,046,212,107.27 in 2024[19] - Total liabilities decreased to ¥25,678,150,851.94 in 2025 from ¥26,516,115,116.03 in 2024, reflecting improved financial health[19] - The company's equity increased to ¥44,000,667,254.08 in 2025, up from ¥43,530,096,991.24 in 2024, indicating a stronger balance sheet[19] - The total liabilities increased to ¥23,254,795,795.09 from ¥22,913,456,762.84, reflecting a rise in financial obligations[31] - The owner's equity totaled ¥40,216,994,210.28, down from ¥40,446,533,739.79, showing a decrease in shareholder value[31] Cash Flow - The company reported cash generated from operating activities of ¥4,186,339,795.80, which increased by 10.06% year-to-date[4] - Cash flow from operating activities for the first three quarters of 2025 was ¥10,411,912,964.38, an increase from ¥9,603,977,154.10 in 2024, showing improved cash generation[25] - The net cash flow from operating activities increased to ¥4,186,339,795.80, up from ¥3,803,714,946.70, representing a growth of approximately 10.1% year-over-year[26] - Cash inflow from investment activities totaled ¥5,314,200,245.91, significantly higher than the previous year's ¥1,165,111,540.58, indicating a substantial increase in investment returns[26] - The net cash flow from financing activities showed a negative balance of -¥3,029,055,768.40, compared to -¥2,118,174,629.99 in the prior year, reflecting increased cash outflows for debt repayment and dividends[27] - The total cash and cash equivalents at the end of the period reached ¥16,032,904,325.20, an increase from ¥14,876,915,799.31, marking a growth of approximately 7.8%[27] - The cash inflow from recovering investments was ¥4,928,835,987.76, a significant increase from ¥886,216,603.30, highlighting improved investment recovery efforts[26] - The cash outflow for purchasing fixed assets was ¥892,506,086.30, down from ¥1,561,316,541.95, indicating a reduction in capital expenditures[26] - Cash flow from operating activities for the first three quarters of 2025 was ¥2,579,376,058.39, compared to ¥2,411,912,027.51 in the same period of 2024, reflecting a 6.9% increase[36] Strategic Initiatives - The increase in profits was primarily driven by a year-on-year growth in aviation business volume at Shanghai's two airports[9] - The company is focusing on enhancing its competitive position in the duty-free market through strategic agreements[15] - The company has signed supplementary agreements for the transfer of duty-free store operating rights to strengthen its market position[15] - The company is committed to ensuring the long-term and sustainable development of its duty-free business[15] - The company has not reported any changes in the top 10 shareholders or their participation in margin financing[14] - Research and development expenses rose significantly to ¥5,034,692.91 in 2025, compared to ¥1,733,886.36 in 2024, indicating a focus on innovation[23] - The company's investment activities generated a net cash flow of ¥134,364,576.79 in the first three quarters of 2025, a significant improvement from a net outflow of ¥1,158,207,131.73 in the same period of 2024[36] - The total revenue from advertising contracts during the reporting period amounted to RMB 170 million[14] - The revenue from duty-free contracts during the reporting period reached RMB 314 million[15] - The total number of ordinary shareholders at the end of the reporting period was 181,121[11]

Core Insights - Shanghai Airport reported a revenue of 3.361 billion yuan for Q3 2025, representing a year-on-year increase of 7.46% [1] - The net profit attributable to shareholders reached 590 million yuan, marking a significant year-on-year growth of 52.52% [1] - Basic earnings per share (EPS) for Q3 2025 stood at 0.24 yuan [1] Financial Performance - For the first three quarters, the company achieved a total revenue of 9.714 billion yuan, which is a year-on-year increase of 5.69% [1] - The net profit attributable to shareholders for the first three quarters was 1.634 billion yuan, reflecting a year-on-year growth of 35.98% [1] - Basic EPS for the first three quarters was reported at 0.66 yuan [1]

Core Insights - The aviation and airport sector experienced a slight decline of 0.01% on October 30, with Xiamen Airport leading the drop [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Stock Performance - Xiamen Airport (600897) closed at 16.62, down 2.35% with a trading volume of 186,900 shares and a transaction value of 312 million yuan [2] - Other notable stocks include: - Spring Airlines (601021) at 53.35, up 0.87% [1] - China Eastern Airlines (600115) at 4.81, unchanged [2] - China Southern Airlines (600029) at 6.79, up 0.44% [2] Capital Flow - The aviation and airport sector saw a net outflow of 297 million yuan from institutional investors, while retail investors contributed a net inflow of 183 million yuan [2] - The capital flow for individual stocks includes: - Xiamen Airport with a net outflow of 21.42 million yuan from institutional investors [3] - China Southern Airlines with a net inflow of 21.88 million yuan from retail investors [3] - China National Aviation (601111) with a net outflow of 12.95 million yuan from institutional investors [3]

Market Overview - The aviation and airport sector increased by 0.71% on October 29, with HNA Holding leading the gains [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Stock Performance - HNA Holding (600221) closed at 1.75, up 3.55% with a trading volume of 8.84 million shares [1] - Xiamen Airport (600897) saw a decline of 3.30%, closing at 17.02 with a trading volume of 326,800 shares [2] - China Eastern Airlines (600115) decreased by 0.62%, closing at 4.81 with a trading volume of 1.0752 million shares [2] Capital Flow - The aviation and airport sector experienced a net inflow of 134 million yuan from institutional investors, while retail investors saw a net outflow of 26.71 million yuan [2] - HNA Holding had a net inflow of 195 million yuan from institutional investors, but a net outflow of 108 million yuan from retail investors [3] Individual Stock Analysis - China Southern Airlines (600029) had a net outflow of 8.09 million yuan from institutional investors, but a net inflow of 19.41 million yuan from retail investors [3] - Spring Airlines (601021) experienced a net outflow of 2.76 million yuan from institutional investors, while retail investors contributed a net inflow of 16.35 million yuan [3]

人民财讯10月28日电，据浦东发布消息，上海机场（600009）边检站发布的最新数据显示，截至10月27 日，上海浦东国际机场口岸今年出入境人员总量突破3000万人次，同比去年增长19.8%，较去年提前近 两个月突破这一大关，约占全国空港出入境人员总量1/4。 ...

Core Insights - The aviation and airport sector saw a rise of 0.61% on October 28, with Xiamen Airport leading the gains [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Stock Performance - Xiamen Airport (600897) closed at 17.60, up 10.00% with a trading volume of 132,700 shares and a transaction value of 229 million yuan [1] - Southern Airlines (600029) closed at 6.70, up 1.52% with a trading volume of 927,600 shares and a transaction value of 626 million yuan [1] - Other notable performances include: - Hainan Airlines (600221) up 0.60% to 1.69 [1] - China Eastern Airlines (600115) up 0.21% to 4.84 [1] Capital Flow - The aviation and airport sector experienced a net inflow of 22.1 million yuan from institutional investors, while retail investors saw a net inflow of 42.8 million yuan [2] - However, speculative funds recorded a net outflow of 64.9 million yuan [2] Individual Stock Capital Flow - Xiamen Airport had a net inflow of 45.72 million yuan from institutional investors, but a net outflow of 20.31 million yuan from speculative funds [3] - Shenzhen Airport saw a net inflow of 16.57 million yuan from institutional investors, with a net outflow of 5.96 million yuan from speculative funds [3] - China Eastern Airlines experienced a net outflow of 9.82 million yuan from institutional investors, while retail investors contributed a net inflow of 5.52 million yuan [3]

Core Viewpoint - Shanghai Airport Group has announced a reduction in the cutoff time for domestic flights at Hongqiao Airport for passengers without checked luggage to 30 minutes before departure, effective immediately [1] Summary by Category Operational Changes - The cutoff time for all domestic flights at Hongqiao Airport was previously reduced to 35 minutes before departure in January of this year [1] - For Spring Airlines, the cutoff time for passengers without checked luggage is now 25 minutes before departure, while other airlines have set it at 30 minutes [1] International and Regional Flights - For international flights and flights to Hong Kong, Macau, and Taiwan, the cutoff time for specific airlines such as Cathay Pacific, Macau Airlines, China Airlines, Korean Air, Asiana Airlines, Hong Kong Airlines, China Eastern Airlines, and Shanghai Airlines is set at 40 minutes before departure [1] - Other airlines have a cutoff time of 45 minutes for international flights and flights to Hong Kong, Macau, and Taiwan [1]