Financial Performance - The company's operating revenue for Q1 2023 was RMB 2,154,410,996.61, representing an increase of 18.78% compared to RMB 840,888,120.09 in the same period last year[1]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB -100,514,513.85, compared to RMB -509,129,146.42 in the previous year[5]. - The net cash flow from operating activities was RMB -33,041,140.33, an improvement from RMB -139,682,620.40 in the same period last year[5]. - The total operating revenue for Q1 2023 was 2,188,433,868.45, compared to 1,883,200,361.98 in Q1 2022, reflecting a year-over-year increase[33]. - The net profit for Q1 2023 was a loss of CNY 167,375,896.80, compared to a loss of CNY 524,318,059.28 in Q1 2022, showing an improvement of about 68.1%[44]. - The net cash flow from operating activities for Q1 2023 was CNY 55,784,894.88, a significant recovery from a negative cash flow of CNY 133,619,108.54 in Q1 2022[45]. - The basic and diluted earnings per share for Q1 2023 were both -0.04, compared to -0.22 in Q1 2022, showing a decrease in loss per share[31]. - The basic earnings per share for Q1 2023 was -0.07, an improvement from -0.27 in Q1 2022, reflecting a positive trend in earnings performance[44]. Assets and Liabilities - The total assets increased to RMB 70,499,953,253.33, up 4.02% from RMB 67,775,098,795.00 at the end of the previous year[5]. - As of March 31, 2023, total current assets amounted to CNY 17,462,073,643.12, compared to CNY 16,331,290,625.82 at the end of 2022, indicating an increase of about 6.9%[16]. - The company's non-current assets totaled CNY 53,037,879,610.21 as of March 31, 2023, compared to CNY 51,443,808,169.86 at the end of 2022, representing a growth of approximately 3.1%[24]. - The total liabilities increased to CNY 29,479,819,284.34 from CNY 27,071,610,967.71, marking an increase of about 8.9%[25]. - The total liabilities rose to CNY 23,903,371,417.11 in Q1 2023, up from CNY 21,557,555,293.52 in Q1 2022, indicating an increase of about 10.9%[42]. Cash Flow and Financing - The company's cash and cash equivalents stood at CNY 14,565,506,161.95 as of March 31, 2023, compared to CNY 13,876,587,382.90 at the end of 2022, reflecting an increase of approximately 5%[16]. - The cash and cash equivalents at the end of Q1 2023 amounted to 14,565,506,161.95, up from 10,101,159,821.13 at the end of Q1 2022[34]. - The company's total cash inflow from financing activities for Q1 2023 was 3,073,900,000.00, compared to 2,000,000,000.00 in Q1 2022, indicating increased financing efforts[34]. - The company raised CNY 2,700,000,000.00 through borrowings in Q1 2023, compared to CNY 2,000,000,000.00 in Q1 2022, indicating a strategy to enhance liquidity[46]. Operational Highlights - The major reason for the increase in operating revenue was a significant rise in business volume at the two main airports in Shanghai[10]. - The company reported a net income of CNY 3.3 billion from duty-free contracts during the reporting period[14]. - The company achieved a monthly profit turnaround in March 2023, with overall profitability steadily improving due to significant growth in domestic market operations[14]. - The company has established a joint venture and completed the asset acquisition to enhance its non-aviation business segment, aligning with the trends in the domestic duty-free tourism industry[14]. - The company plans to continue expanding its market presence and enhancing its competitive advantage in the non-aviation sector through strategic investments and partnerships[14]. Financial Management - The company reported a financial expense of 28,656,222.76 for Q1 2023, compared to 167,875,578.23 in Q1 2022, showing a reduction in financial costs[30]. - The company reported a financial expense of CNY -12,852,151.27 in Q1 2023, a significant decrease from CNY 126,697,950.48 in Q1 2022, indicating improved financial management[43]. - The company's investment activities resulted in a net cash outflow of -2,092,910,581.67 for Q1 2023, compared to -262,284,181.99 in Q1 2022, indicating increased investment activity[34]. - The company's investment activities resulted in a net cash outflow of CNY -1,687,915,912.36 in Q1 2023, compared to CNY -190,080,731.21 in Q1 2022, reflecting increased investment activities[46]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 170,961[8]. - The total comprehensive income attributable to the parent company owners for Q1 2023 was -99,346,473.86, compared to -504,358,956.80 in the same period last year[31].

Financial Performance - The company reported a net profit attributable to shareholders of -¥2,994,949,875.37 in 2022, compared to -¥1,578,222,818.35 in 2021[16]. - The company's operating revenue for 2022 was ¥5,480,447,621.36, a decrease of 32.79% compared to ¥8,154,776,878.02 in 2021[16]. - The net cash flow from operating activities was -¥116,961,358.39, a decline of 106.32% from ¥1,849,196,959.64 in 2021[16]. - The basic earnings per share for 2022 was -¥1.26, compared to -¥0.68 in 2021[17]. - The total assets at the end of 2022 were ¥67,775,098,795.68, a slight decrease of 0.10% from ¥67,842,539,413.31 in 2021[16]. - The net assets attributable to shareholders increased by 10.38% to ¥39,607,600,050.97 in 2022 from ¥35,883,128,185.78 in 2021[16]. - The company reported a significant decline in operating revenue, totaling ¥5,480,447,621.36, a decrease of 32.79% compared to ¥8,154,776,878.02 in the previous year[32]. - The company reported a total profit of -3,825,023,512.94 CNY for 2022, which is a significant decline from -1,905,187,350.83 CNY in 2021[184]. Audit and Compliance - The company reported a standard unqualified audit opinion from Lixin Certified Public Accountants[3]. - The company has engaged Lixin Certified Public Accountants for auditing services during the reporting period[14]. - The financial report is guaranteed for authenticity and completeness by its chairman and financial department head[3]. - The audit report confirmed that the financial statements fairly reflect the financial position and operating results of Shanghai International Airport as of December 31, 2022[169]. - The audit identified no significant misstatements in the other information provided in the annual report[172]. Corporate Governance - The company held 1 annual general meeting and 3 extraordinary general meetings during the reporting period, ensuring equal rights for all shareholders, especially minority shareholders[68]. - The company’s board of directors consists of 9 members, including 3 independent directors, and held 14 board meetings during the reporting period[68]. - The company has established a robust information disclosure management system, ensuring timely and accurate communication with stakeholders[68]. - The company has revised its articles of association and various governance rules to enhance corporate governance following the restructuring[68]. - The company has committed to maintaining independence from its controlling shareholder in terms of business, assets, finance, personnel, and organization following a major asset restructuring[70]. Operational Efficiency - The company focused on enhancing hub functions and optimizing resource capacity to improve passenger experience and ecological environment, indicating a strategic shift towards high-quality development[22]. - The company emphasized a flexible management mechanism to adapt to market conditions, focusing on cost reduction and efficiency improvement across all operational areas[22]. - The company maintained a normal flight release rate of 91.99% at Pudong Airport and 97.47% at Hongqiao Airport, reflecting operational efficiency[27]. - The company completed a major asset restructuring in July 2022, impacting the financial data for the first two quarters of the year[19]. - The company completed a major asset restructuring, unifying management of the two airports in Shanghai, which is expected to enhance operational efficiency and governance capabilities[24]. Market and Industry Trends - The aviation transportation industry showed strong correlation with macroeconomic cycles, impacting the company's performance and operational metrics significantly[23]. - The company is committed to continuous technological innovation and strategic expansion in emerging industries to drive sustainable growth[22]. - The company aims to enhance its position as an international aviation hub, focusing on expanding domestic markets and recovering international markets from 2023 to 2025[64]. - The company plans to implement a high-quality development strategy centered on safety, sustainability, intelligence, and culture, aiming to improve operational efficiency and customer experience[64]. Environmental and Social Responsibility - The company invested 77.61 million yuan in environmental protection during the reporting period[106]. - The total emissions of particulate matter from the Pudong Airport Company were 0.24 tons, nitrogen oxides were 10.08 tons, and sulfur dioxide were 0.65 tons, with no exceedance of emission standards[108]. - The company has developed an emergency plan for sudden environmental incidents, including a comprehensive response system[111]. - The company has been actively involved in community governance and social responsibility initiatives, enhancing the quality of life in the airport community[120]. - The company is focusing on the construction of photovoltaic projects to lower operational costs and contribute to carbon neutrality goals[118]. Future Outlook - The company expects Pudong Airport to achieve 350,000 aircraft takeoffs and landings, with a passenger throughput of 31.92 million and cargo throughput of 337,000 tons in 2023[65]. - The company plans to focus on market expansion and new product development in the upcoming year[182]. - The company is investing in new technologies, with a budget allocation of 60 million for R&D in the upcoming fiscal year[75]. - The company aims to improve operational efficiency, targeting a 5% reduction in costs through streamlined processes[75]. - The company plans to issue shares for fundraising related to the asset acquisition, ensuring that the funds are sourced legally and independently[126].

Financial Performance - The company's operating revenue for Q3 2022 was CNY 1,602,769,483.95, a decrease of 19.06% compared to CNY 1,980,280,790.58 in the same period last year[3] - The net profit attributable to shareholders was a loss of CNY 580,029,901.04, compared to a loss of CNY 506,252,144.74 in the previous year[3] - The basic earnings per share for the year-to-date was -CNY 0.84, compared to -CNY 0.43 in the same period last year[3] - The company reported a significant decline in business volume due to the impact of the pandemic, leading to a 32.06% decrease in year-to-date operating revenue[7] - The company experienced a substantial impact on its operational efficiency due to the pandemic, resulting in a notable decrease in net profit attributable to shareholders[7] - Net profit for Q3 2022 was CNY -1,988,808,789.08, compared to CNY -855,073,788.53 in Q3 2021, reflecting a significant increase in losses[19] - The net profit attributable to the parent company for Q3 2022 was -2,102,573,863.48 CNY, compared to -1,070,231,768.32 CNY in the same period last year, indicating a significant increase in losses[20] - The total comprehensive income attributable to the parent company for Q3 2022 was -2,102,573,863.48 CNY, compared to -1,070,231,768.32 CNY in the previous year[20] Cash Flow - The net cash flow from operating activities for the year-to-date was a negative CNY 511,839,907.69, a decline of 137.53% compared to the previous year[3] - Cash flow from operating activities for the first three quarters of 2022 was -511,839,907.69 CNY, a decrease from 1,363,795,815.97 CNY in the same period of 2021[22] - Cash inflow from operating activities totaled 4,916,956,723.09 CNY in the first three quarters of 2022, down from 7,531,178,415.58 CNY in the previous year[22] - Cash outflow from operating activities was 5,428,796,630.78 CNY in the first three quarters of 2022, compared to 6,167,382,599.61 CNY in the same period of 2021[22] - The net cash flow from investing activities for the first three quarters of 2022 was -459,116,023.90 CNY, compared to 166,450,535.05 CNY in the previous year[23] - Cash inflow from financing activities for the first three quarters of 2022 was 13,695,266,640.73 CNY, compared to 11,050,000,000.00 CNY in the same period of 2021[23] - The company's cash flow from financing activities netted 2,716,564,199.63 CNY in the first three quarters of 2022, down from 3,994,408,662.55 CNY in the previous year[23] Assets and Liabilities - Total assets at the end of the reporting period were CNY 68,794,427,821.10, reflecting a 1.39% increase from CNY 67,849,273,489.74 at the end of the previous year[4] - Total liabilities decreased to CNY 27,192,043,241.51 in Q3 2022 from CNY 30,532,272,757.98 in Q3 2021, a reduction of about 11.3%[16] - Total current assets reached ¥17,381,826,791.68, up from ¥15,051,034,885.16, indicating a growth of about 15.5%[14] - Total assets increased to approximately ¥60.64 billion in Q3 2022, up from ¥51.01 billion in Q3 2021, representing a growth of 18.7%[26] - Total liabilities decreased to approximately ¥20.17 billion in Q3 2022, down from ¥23.71 billion in Q3 2021, a reduction of 15.5%[26] Shareholder Information - Total number of common shareholders at the end of the reporting period was 142,469[9] - The largest shareholder, Shanghai Airport (Group) Co., Ltd., holds 1,452,813,696 shares, representing 58.38% of total shares[9] Investments and Acquisitions - The company completed the acquisition of assets and related financing, with the asset transfer and share issuance finalized during the reporting period[11] - The company reported rental income from duty-free shops of ¥0.97 billion during the reporting period[11] Employee and Compensation - The company reported an increase in employee compensation liabilities to CNY 658,630,216.24 from CNY 558,004,258.20, reflecting a rise of approximately 18%[16] Other Financial Metrics - Non-operating income for the current period amounted to CNY 85,818,178.29, compared to CNY 26,739,127.28 in the previous year[5] - Long-term equity investments decreased to ¥2,999,198,235.36 from ¥3,137,187,775.47, a decline of approximately 4.4%[14] - Fixed assets increased to ¥24,842,618,670.68 from ¥23,837,036,489.63, reflecting a growth of about 4.2%[14] - Deferred tax assets rose to CNY 1,878,179,077.26 in Q3 2022, compared to CNY 1,119,293,354.82 in Q3 2021, indicating an increase of about 67.8%[16] - The company’s capital reserve increased to CNY 16,601,654,922.45 from CNY 10,346,035,241.14, representing a growth of approximately 60.5%[16] - The company’s total equity reached CNY 41,602,384,579.59 in Q3 2022, up from CNY 37,317,000,731.76 in Q3 2021, reflecting an increase of about 11.5%[16]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,165,794,336.38, a decrease of 35.37% compared to the same period last year[14]. - The net profit attributable to shareholders of the listed company was a loss of CNY 1,257,549,109.27, compared to a loss of CNY 740,717,531.86 in the previous year[14]. - The net cash flow from operating activities was CNY 17,758,971.54, down 90.66% from CNY 190,127,940.92 in the same period last year[14]. - Basic earnings per share for the first half of 2022 were -CNY 0.65, compared to -CNY 0.38 in the same period last year[15]. - The weighted average return on net assets was -4.68%, a decrease of 2.11 percentage points compared to -2.57% in the previous year[15]. - The company reported a significant decrease in aviation-related revenue, which was CNY 574,048,174.17, accounting for 49.24% of total revenue, down 41.13% from CNY 975,152,218.83 in the previous year[29]. - Non-aviation revenue was CNY 591,746,162.21, representing 50.76% of total revenue, a decrease of 28.59% from CNY 828,710,819.49 year-on-year[29]. - The company's total profit for the first half of 2022 was approximately -¥1.677 billion, compared to -¥1.063 billion in the same period of 2021, reflecting a worsening financial performance[86]. - The total comprehensive income for the first half of 2022 was approximately -¥1.239 billion, compared to -¥693 million in the same period of 2021[86]. Operational Metrics - The total number of aircraft takeoffs and landings was 92,403, down 51.37% year-on-year, with passenger throughput of 5.7429 million, down 68.53%[21]. - The cargo and mail throughput was 1.4721 million tons, a decrease of 30.66% compared to the previous year[21]. - The total cash received from sales of goods and services was CNY 1,200,573,769.82, a decline of 48.40% from CNY 2,326,828,383.37 year-on-year[28]. - The company reported a significant investment loss of approximately -¥6.22 million in the first half of 2022, compared to a profit of ¥570 million in the same period of 2021[87]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 50,678,507,127.84, a decrease of 1.45% from the end of the previous year[14]. - The net assets attributable to shareholders of the listed company decreased by 4.57% to CNY 26,246,987,421.19[14]. - The company's total liabilities increased, with cash paid for debt repayment rising to CNY 6,000,000,000.00, a 50.00% increase from CNY 4,000,000,000.00 in the previous year[28]. - Total liabilities increased to 24,211,791,790.45 RMB, up from 23,720,153,085.24 RMB, reflecting a rise of about 2.07%[81]. Cash Flow - The company experienced a 95.13% decrease in net cash flow from financing activities, which was CNY 168,044,453.08 compared to CNY 3,447,961,923.52 in the previous year[25]. - Cash inflow from financing activities was CNY 6,749,266,650.00, down from CNY 8,000,000,000.00 in the same period last year, a decrease of approximately 15.6%[92]. - The total cash and cash equivalents at the end of the period stood at CNY 9,782,515,283.47, compared to CNY 10,730,914,482.70 at the end of the previous year[92]. Government Support and Non-Operating Income - The company reported a significant increase in non-operating income, including government subsidies amounting to CNY 163,266,277.83[16]. - The company received government support funds related to the pandemic, contributing to a significant increase in other income[27]. Management and Strategy - The company has not disclosed any plans for new product development or market expansion in this report[3]. - The company is actively pursuing market recovery strategies, including marketing collaborations and optimizing idle resources[18]. - The company aims to achieve a world-class service standard with a focus on customer needs and continuous service improvements[19]. Environmental Management - The company has implemented an environmental management system based on ISO14001 to improve its environmental practices and reduce resource consumption[47]. - The company reported total particulate emissions of 0.13 tons, nitrogen oxides of 4.86 tons, and sulfur dioxide of 0.35 tons from January to June 2022, with no exceedances[48]. - The company operates 13 low-nitrogen combustion gas boilers and 1 gas turbine-heat recovery boiler system, all meeting emission standards for nitrogen oxides (≤50 mg/m³), sulfur dioxide (≤10 mg/m³), and particulate matter (≤10 mg/m³)[49]. Shareholder Information - The largest shareholder, Shanghai Airport (Group) Co., Ltd., holds 891,290,804 shares, representing 46.25% of total shares[70]. - The total number of common stock shareholders as of the end of the reporting period is 190,921[69]. - The company voluntarily extended the lock-up period for 833,482,051 shares for an additional year starting from March 2, 2022[60]. Corporate Governance - The company has undergone significant changes in its board and management personnel, with new appointments made during the 2022 first extraordinary general meeting[45]. - The financial report was approved by the board of directors on August 30, 2022[99]. Risk Factors - The company faces significant macroeconomic risks due to rising global economic stagnation and external uncertainties, which may adversely impact its operations[40]. - The airline industry is heavily influenced by government policies, and any adjustments in regulations could introduce uncertainties for the company's future performance[40]. - The company is currently experiencing operational pressures due to the ongoing impacts of the COVID-19 pandemic, which have exceeded initial expectations[40].

Financial Performance - The company's operating revenue for Q1 2022 was ¥840,888,120.09, representing a decrease of 2.94% compared to the same period last year[4]. - The net profit attributable to shareholders of the listed company was -¥508,536,328.34, and the net profit after deducting non-recurring gains and losses was -¥509,129,146.42[4]. - The company's net profit for Q1 2022 was not explicitly stated, but the financial performance indicates a focus on cost control and efficiency[16]. - The net profit attributable to the parent company was -508,536,328.34 RMB, compared to -436,426,541.10 RMB in the same period last year, reflecting a decline of approximately 16.5%[18]. - The total comprehensive income attributable to the parent company was -508,536,328.34 RMB, compared to -436,426,541.10 RMB in the previous year, indicating a decrease of about 16.5%[18]. - The basic and diluted earnings per share were both -0.26 RMB, compared to -0.23 RMB in the same quarter of the previous year[18]. - The net profit for Q1 2022 was reported at -¥524,318,059.28, compared to -¥447,266,976.84 in Q1 2021, indicating a deeper loss year-over-year[26]. - The operating profit for Q1 2022 was reported at -¥714,171,505.49, compared to -¥634,992,405.97 in Q1 2021, indicating a worsening performance[26]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥139,682,620.40, a significant decrease of 275.72% year-on-year, primarily due to reduced cash inflows from operations impacted by the ongoing COVID-19 pandemic[7]. - Cash flow from operating activities showed a net outflow of -139,682,620.40 RMB, contrasting with a net inflow of 79,489,854.48 RMB in the same quarter last year[20]. - The total operating cash inflow was 916,343,113.22 RMB, compared to 1,541,572,376.03 RMB in the same period last year, showing a decrease of approximately 40.5%[19]. - The total operating cash outflow was 1,056,025,733.62 RMB, compared to 1,462,082,521.55 RMB in the previous year, indicating a decrease of about 27.7%[20]. - The company's cash and cash equivalents decreased to approximately ¥7.59 billion from ¥9.94 billion year-over-year, reflecting a liquidity contraction[13]. - The ending cash and cash equivalents balance was 7,587,865,381.19 RMB, down from 10,972,905,458.64 RMB at the end of the previous year[21]. - The net decrease in cash and cash equivalents for Q1 2022 was CNY -2,346,978,192.72, compared to an increase of CNY 3,320,638,212.28 in Q1 2021[29]. Assets and Liabilities - Total assets at the end of the reporting period were ¥48,999,816,262.38, down 4.72% from the end of the previous year[5]. - The equity attributable to shareholders of the listed company was ¥26,996,000,202.12, a decrease of 1.85% compared to the end of the previous year[5]. - The total assets decreased to approximately ¥49.00 billion from ¥51.43 billion, indicating a reduction in overall asset base[15]. - The total liabilities decreased to approximately ¥21.78 billion from ¥23.72 billion, suggesting improved debt management[15]. - Total liabilities decreased to ¥21,768,857,817.67 from ¥23,708,319,044.90, a decline of about 8.1%[23]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 189,452[8]. - The largest shareholder, Shanghai Airport (Group) Co., Ltd., held 891,290,804 shares, accounting for 46.25% of the total shares[9]. Non-Recurring Gains and Losses - The company received a total of ¥592,818.08 in non-recurring gains and losses during the reporting period[6]. Strategic Developments - The company has obtained conditional approval from the M&A Review Committee for its restructuring matters, which includes issuing 433,939,325 shares to acquire related assets and raising up to ¥5 billion in supporting funds[11]. - The change in accounting estimates regarding the depreciation of fixed assets is expected to reduce the depreciation expense by approximately ¥253,718,600 and increase the net profit attributable to the parent company by about ¥190,289,000 for 2022[11]. - The company is exploring new strategies for market expansion and product development, although specific details were not disclosed in the report[12].

Financial Performance - The company's operating revenue for 2021 was ¥3,727,797,262.22, a decrease of 13.38% compared to ¥4,303,465,087.94 in 2020[15]. - The net profit attributable to shareholders for 2021 was -¥1,710,938,710.14, compared to -¥1,266,651,387.56 in 2020[15]. - The net cash flow from operating activities for 2021 was ¥310,932,079.85, an improvement from -¥1,217,659,313.81 in 2020[15]. - The total assets at the end of 2021 were ¥51,426,088,634.23, an increase of 54.89% from ¥33,202,181,016.40 at the end of 2020[15]. - The net assets attributable to shareholders decreased by 5.86% to ¥27,504,536,530.46 at the end of 2021 from ¥29,215,475,240.60 at the end of 2020[15]. - The weighted average return on equity was -6.03%, a decrease of 1.89 percentage points from the previous year[16]. - The company's net profit for 2021 was CNY -4.10 million, reflecting a 64.58% decrease in gross profit margin compared to the previous year[46]. - The company’s total equity for its aviation fuel subsidiary reached CNY 4.718 billion, with a net profit of CNY 507 million in 2021[52]. Revenue and Costs - Operating costs were 6,077,066,747.08 RMB, down 7.93% year-on-year, attributed to the implementation of new leasing standards[29]. - Aviation-related revenue increased by 7.21% year-on-year, reaching RMB 1,851,727,446.45, while non-aviation revenue decreased by 27.18% to RMB 1,876,069,815.77[30]. - Passenger and cargo-related revenue decreased by 1.90% to RMB 723,843,431.55, primarily due to the ongoing impact of COVID-19 on international flight volumes[30]. - The company reported a financial expense of approximately ¥439.79 million in 2021, a significant increase from a financial income of ¥265.92 million in 2020[161]. - The company incurred an asset impairment loss of approximately ¥17.29 million in 2021, with no such loss reported in 2020[161]. Operational Highlights - The company facilitated 349,500 aircraft takeoffs and landings at Pudong Airport, an increase of 7.32% compared to the previous year[20]. - Passenger throughput reached 32.2068 million, up 5.68% year-on-year, while cargo and mail throughput increased by 8.03% to 398,260 tons[20]. - The average flight release normality rate was 87.23%, ranking 19th among coordinated airports[20]. - The company achieved a year-on-year increase in passenger throughput of 5.5%, totaling 440 million passengers, reflecting recovery in the aviation sector[44]. - The company maintained a dynamic balance in pandemic prevention and operational continuity, handling one-third of national passenger traffic and half of cargo traffic[44]. Strategic Initiatives - The company is exploring new commercial development paths and optimizing commercial resources in response to the post-pandemic environment[26]. - The company aims to enhance innovation and improve operational efficiency as part of its strategy for high-quality development in the aviation sector[54]. - The company plans to implement a five-pronged development strategy focusing on hub construction, operational excellence, value creation, organizational control, and harmonious development[55]. - The company plans to invest CNY 200 million in the first phase of the Airport Aviation Industry Development Equity Investment Fund[48]. - The company is committed to building a safe, green, smart, and culturally rich airport, enhancing operational efficiency and service quality[56]. Governance and Compliance - The company has established a governance structure that ensures transparency and protects the rights of all shareholders, particularly minority shareholders[59]. - The company has independent financial and accounting systems, ensuring compliance with accounting standards and independent tax obligations[62]. - The company has established specialized committees, including a strategy committee and an audit committee, to enhance governance and oversight[82]. - The audit committee emphasized that the transaction will not harm the interests of minority shareholders and is beneficial for the company's long-term development[85]. - The company is committed to transparency and accountability in its financial reporting and governance practices[70]. Shareholder Information - The total number of ordinary shareholders was 254,814, an increase from 189,452 at the end of the previous month[127]. - The largest shareholder, Shanghai Airport (Group) Co., Ltd., holds 891,290,804 shares, representing 46.25% of total shares[128]. - Shanghai Airport (Group) Co., Ltd. has pledged 833,482,051 shares, which will be released for trading on March 2, 2023[129]. - The company has not implemented any share buyback during the reporting period[134]. - The company is undergoing a significant asset restructuring, which may affect the shareholding structure[129]. Financial Position - The total liabilities increased to approximately ¥23.72 billion from ¥3.64 billion in 2020, marking a significant rise of 551.5%[153]. - The company's equity remained stable at approximately ¥1.93 billion, unchanged from the previous year[153]. - The total equity of the company at the end of 2021 was RMB 27,306,342,229.43, a decrease of RMB 1,543,473,288.01 compared to the previous year[169]. - The comprehensive income for the year was a loss of CNY 1,710,938,710.14, reflecting a significant decline compared to the previous year[167]. - The retained earnings at the end of the year were CNY 21,692,284,006.92, indicating a reduction due to losses incurred during the year[167]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in its report[4]. - The company has detailed potential risks in its management discussion and analysis section[5]. - The company faces macroeconomic risks, including demand contraction and supply shocks, which may adversely affect its operations[57]. - The company anticipates that global passenger traffic will continue to recover in 2022, although volumes will remain significantly below 2019 levels due to the lasting impacts of the pandemic[57]. - The company has not identified any significant internal control deficiencies during the reporting period[97].

Financial Performance - The company's operating revenue for Q3 2021 was ¥943,518,774.40, representing a decrease of 2.5% compared to the same period last year[4]. - The net profit attributable to shareholders for Q3 2021 was -¥510,363,360.13, with a year-to-date net profit of -¥1,251,080,892.00, indicating a significant decline due to the ongoing impact of the COVID-19 pandemic[4]. - The basic and diluted earnings per share for Q3 2021 were both -¥0.27, reflecting increased pandemic-related expenditures[5]. - Total operating revenue for the first three quarters of 2021 was CNY 2,747,381,812.72, a decrease from CNY 3,437,878,650.18 in the same period of 2020, representing a decline of approximately 20.1%[20]. - The net profit for Q3 2021 was -1,180,266,480.86 CNY, compared to -691,794,300.75 CNY in Q3 2020, indicating a significant increase in losses[22]. - The total profit for Q3 2021 was -1,771,050,784.64 CNY, compared to -1,039,508,286.06 CNY in the same period last year, reflecting a worsening financial performance[22]. - The operating profit for Q3 2021 was -1,771,009,475.56 CNY, compared to -1,039,069,947.40 CNY in Q3 2020, showing a decline in operational efficiency[22]. - The basic and diluted earnings per share for Q3 2021 were both -0.65 CNY, compared to -0.38 CNY in Q3 2020, indicating a decrease in shareholder value[25]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥51,785,922,652.14, which is a 55.97% increase compared to the end of the previous year[5]. - The equity attributable to shareholders decreased by 4.28% to ¥27,964,394,348.60 compared to the previous year[5]. - Total liabilities as of September 30, 2021, were CNY 23,637,947,087.02, significantly higher than CNY 3,643,284,563.25 at the end of 2020[19]. - The company's total assets reached CNY 51,785,922,652.14, up from CNY 33,202,181,016.40 at the end of 2020, indicating an increase of about 55.8%[18]. - The equity attributable to shareholders decreased to CNY 27,964,394,348.60 from CNY 29,215,475,240.60, reflecting a decline of approximately 4.3%[19]. - The company’s non-current liabilities totaled $23.36 billion, reflecting a significant increase from the previous period[30]. - The company’s total liabilities and equity amounted to $49.83 billion[30]. Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥322,832,581.45, showing an increase in cash inflow compared to the previous year[4]. - Cash flow from operating activities for the first three quarters of 2021 was 322,832,581.45 CNY, a recovery from -836,534,247.25 CNY in the same period last year[26]. - Total cash inflow from operating activities in Q3 2021 was 3,750,711,555.06 CNY, up from 3,336,630,156.44 CNY in Q3 2020, demonstrating improved cash generation[26]. - The net cash flow from investing activities was -$410.55 million, a significant decrease compared to $589.52 million in the previous period[27]. - Cash and cash equivalents increased by $3.05 billion, compared to a decrease of $1.95 billion in the previous period[27]. - The net cash flow from financing activities was $3.14 billion, a turnaround from a negative cash flow of $1.70 billion in the previous period[27]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 289,634[10]. - The largest shareholder, Shanghai Airport (Group) Co., Ltd., held 1,026,177,895 shares, representing 53.25% of the total shares[10]. - The company reported rental income from duty-free shops of CNY 149 million during the reporting period[13]. Operational Challenges - The company continues to face challenges due to the COVID-19 pandemic, impacting both revenue and profit margins significantly[7]. - Total operating costs for the first three quarters of 2021 amounted to CNY 5,127,420,020.94, compared to CNY 4,847,021,380.67 in 2020, indicating an increase of about 5.8%[20]. - The management expenses for Q3 2021 were 180,642,173.33 CNY, slightly down from 184,033,906.34 CNY in Q3 2020, indicating cost control efforts[22]. - The financial expenses for Q3 2021 were 313,725,298.36 CNY, a significant increase from -222,201,463.56 CNY in Q3 2020, reflecting higher borrowing costs[22]. - The tax expenses for Q3 2021 were 4,262,513.89 CNY, compared to 3,255,377.45 CNY in Q3 2020, indicating an increase in tax liabilities[22]. Investment and Expansion - The company is expanding its operations through a supplementary agreement for the transfer of duty-free shop operating rights at Shanghai Pudong International Airport[13]. - The company raised $10 billion through borrowings during the financing activities[27]. - The cash outflow for the acquisition of fixed assets, intangible assets, and other long-term assets was $874.14 million, an increase from $680.26 million in the previous period[27]. Accounting Changes - The company implemented the new accounting standard for leases starting January 1, 2021, resulting in the addition of right-of-use assets and lease liabilities[31].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,803,863,038.32, a decrease of 26.97% compared to the same period last year[15]. - The net profit attributable to shareholders of the listed company was a loss of CNY 740,717,531.86, compared to a loss of CNY 385,786,191.82 in the previous year[15]. - The basic earnings per share for the first half of 2021 was -CNY 0.38, compared to -CNY 0.20 in the same period last year[16]. - The weighted average return on net assets was -2.57%, a decrease of 1.36 percentage points compared to the previous year[16]. - The company reported a total comprehensive income of CNY -428,746,358.72 for the first half of 2021[90]. - The total profit for the first half of 2021 was a loss of approximately ¥1.06 billion, compared to a loss of ¥514.76 million in the same period of 2020[80]. - The total comprehensive income for the period was a loss of RMB 740.72 million, reflecting a significant decline in performance[87]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 190,127,940.92, a significant improvement from a negative cash flow of CNY 639,091,204.22 in the same period last year[15]. - The cash flow from financing activities saw a substantial increase to CNY 3,447,961,923.52, compared to a negative CNY 4,461,667.42 in the previous year[24]. - The company raised ¥8,000,000,000.00 through borrowings, contributing to a net cash flow from financing activities of ¥3,447,961,923.52, a turnaround from a net outflow of -¥4,461,667.42 in the previous year[85]. - Cash and cash equivalents at the end of the reporting period amounted to 10,771,987,492.44 CNY, a 40.71% increase from the previous year[31]. - The company reported a significant reduction in short-term borrowings and other current liabilities, reflecting improved liquidity[161]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 52,270,504,430.57, an increase of 57.43% compared to the end of the previous year[15]. - Total liabilities increased to 23,635,348,858.67 yuan, compared to 3,643,284,563.25 yuan at the end of the previous year, indicating a substantial rise in financial obligations[74]. - The company's equity attributable to shareholders decreased to 28,474,757,708.74 yuan from 29,215,475,240.60 yuan, reflecting a decline in retained earnings[74]. - The company reported a loan repayment rate of 100%, indicating effective management of its debt obligations[71]. - The asset-liability ratio increased by 312.22% to 45.22% from 10.97% at the end of the previous year, mainly due to the implementation of new leasing standards and the issuance of short-term financing bonds[71]. Operational Metrics - In the first half of 2021, the company achieved a total of 190,016 aircraft takeoffs and landings, a year-on-year increase of 36.64%[21]. - Passenger throughput reached 18.25 million, representing a year-on-year growth of 49.45%[21]. - Cargo and mail throughput was 212.59 thousand tons, with a year-on-year increase of 24.39%[21]. - Domestic passenger transport volume reached 1.75 million, up 118.30% year-on-year, while international passenger transport volume decreased by 90.26%[22]. - The average flight release rate was 90.04%, an increase of 2.75% year-on-year, ranking 9th among 22 major airports in China[21]. Investment and Growth Plans - The company plans to issue shares to acquire 100% equity of Shanghai Hongqiao International Airport and related assets, along with a private placement for additional funding[23]. - The company plans to invest 200 million CNY in the first phase of the airport aviation industry development equity investment fund[34]. - The company is actively enhancing its hub operations and expanding its service offerings to improve passenger experience[19]. Risks and Challenges - The company faces significant macroeconomic risks due to the ongoing global pandemic, which has led to suppressed social demand and uneven economic recovery[38]. - The airline industry is heavily influenced by government policies, creating uncertainty for the company's future performance[38]. - Competition from other transportation modes, particularly high-speed rail, poses a risk to air travel demand[38]. - The international pandemic situation remains a major uncertainty affecting the recovery of the airline market, with global passenger demand continuing to be low[38]. Shareholder Information - The total number of ordinary shareholders reached 342,373 by the end of the reporting period[61]. - The largest shareholder, Shanghai Airport (Group) Co., Ltd., holds 1,026,177,895 shares, representing 53.25% of total shares[63]. - The company has a total of 833,482,051 restricted shares that will become tradable on March 2, 2022[65]. - The company has voluntarily locked up 833,482,051 shares with limited sale conditions for an additional year starting from March 2, 2021[51]. Accounting and Financial Reporting - The financial statements were prepared in accordance with the accounting standards issued by the Ministry of Finance of China[94]. - The company has maintained its ability to continue as a going concern for at least 12 months from the reporting date[93]. - The company recognizes investment income from equity investments held prior to the acquisition date based on fair value adjustments at the acquisition date[99]. - The company applies the equity method for investments in joint ventures, recognizing its share of assets, liabilities, and income[100]. Inventory and Receivables - The company’s inventory increased to 19,349,772.27 yuan from 17,184,783.32 yuan, suggesting a rise in stock levels[72]. - The total accounts receivable balance increased to CNY 15,374,753.42, up from CNY 13,351,514.13 at the end of the previous year, representing a growth of approximately 15.1%[185]. - The provision for bad debts amounted to CNY 1,344,151.13, with a provision ratio of 8.74% for the total accounts receivable[184]. Depreciation and Asset Management - The company uses the straight-line method for depreciation of fixed assets, with depreciation rates varying by asset category and estimated useful life[123]. - The accumulated depreciation at the end of the period was ¥12,878,113,199.93, compared to ¥12,280,212,849.05 at the beginning of the period, indicating an increase of approximately 4.9%[200]. - The company continues to focus on optimizing its asset base while managing depreciation and disposals effectively[200].

Financial Performance - Operating revenue decreased by 47.05% to CNY 866.35 million year-on-year[7] - Net profit attributable to shareholders was CNY -436.43 million, a decrease of 641.63% compared to the same period last year[7] - Basic and diluted earnings per share were both CNY -0.23, a decline of 675.00% year-on-year[7] - Operating revenue decreased by 47.05% to ¥866,352,981.97 compared to ¥1,636,291,904.53 in the previous period, primarily due to the impact of the COVID-19 pandemic on international and regional flight volumes[13] - The net profit for Q1 2021 was a loss of ¥420,643,923.75, compared to a profit of ¥114,367,303.39 in Q1 2020, indicating a significant decline[29] - The operating profit for Q1 2021 was a loss of ¥634,992,405.97, compared to a profit of ¥47,916,999.14 in Q1 2020[31] - The company reported a tax expense of -¥187,728,234.90 in Q1 2021, compared to ¥361,826.00 in Q1 2020[31] - The total comprehensive income for Q1 2021 was a loss of ¥420,643,923.75, compared to a gain of ¥114,367,303.39 in Q1 2020[29] Cash Flow - Cash flow from operating activities improved to CNY 79.49 million, compared to CNY -195.79 million in the previous year[7] - Cash received from tax refunds increased by 100% to ¥99,327,514.33, due to the receipt of VAT refunds[14] - Cash received from other operating activities rose by 119.12% to ¥84,933,391.13, driven by increased bank deposit interest and project deposits[14] - Cash paid for various taxes decreased by 93.61% to ¥43,779,044.81, reflecting a reduction in tax payments[14] - Cash paid for other operating activities surged by 842.93% to ¥335,141,062.80, mainly due to increased payments for venue and asset leasing fees[14] - The net cash flow from operating activities for Q1 2021 was ¥79,489,854.48, a significant improvement compared to -¥195,791,640.33 in Q1 2020[35] - The company's cash inflow from operating activities totaled ¥1,533,940,468.45 in Q1 2021, compared to ¥1,703,184,976.85 in Q1 2020, indicating a decrease of approximately 9.9%[36] - The cash outflow for purchasing goods and services was ¥471,646,437.99 in Q1 2021, down from ¥534,598,861.34 in Q1 2020, showing a reduction of about 11.8%[36] Assets and Liabilities - Total assets increased by 58.99% to CNY 52.79 billion compared to the end of the previous year[7] - Total assets as of March 31, 2021, amounted to CNY 52,035,713,666.85, an increase from CNY 32,484,836,883.96 at the end of 2020[26] - Total liabilities as of March 31, 2021, were CNY 23,633,165,126.25, compared to CNY 3,635,021,366.52 at the end of 2020[26] - Total liabilities amounted to CNY 20,255,407,337.83, with current liabilities at CNY 3,611,666,083.90 and non-current liabilities at CNY 16,643,741,253.93[45] - Total assets reached CNY 49,105,222,855.27, with current assets totaling CNY 9,318,538,718.61 and non-current assets at CNY 39,786,684,136.66[45] - Shareholders' equity as of March 31, 2021, was CNY 28,402,548,540.60, down from CNY 28,849,815,517.44 at the end of 2020[26] - Shareholders' equity was reported at CNY 28,849,815,517.44, including paid-in capital of CNY 1,926,958,448.00 and retained earnings of CNY 23,037,562,993.90[46] Shareholder Information - The number of shareholders reached 299,405 by the end of the reporting period[8] - The company’s total equity attributable to shareholders was CNY 29,215,475,240.60[45] Operational Challenges - The company anticipates continued operational pressure due to the ongoing pandemic, with expected losses in future performance[17] - Financial expenses increased significantly due to the implementation of new leasing standards, resulting in interest expenses on lease liabilities[13] - Tax expenses decreased dramatically by 51,983.57% to -¥187,728,234.90, reflecting a substantial decline in operational efficiency due to the pandemic[13] - Minority shareholders' profit decreased by 53.29% to ¥15,782,617.35, attributed to the decline in profits from subsidiaries impacted by the pandemic[13] Investments and Agreements - The company signed a supplementary agreement for the transfer of operating rights for the duty-free shop project at Shanghai Pudong International Airport, generating rental income of ¥0.92 billion during the reporting period[16] - The company adopted the new lease accounting standard starting January 1, 2021, resulting in the recognition of right-of-use assets and lease liabilities[42] - The total amount of lease liabilities recognized was CNY 16,620,385,971.31[45]

Financial Performance - The company's operating revenue for 2020 was CNY 4,303,465,087.94, a decrease of 60.68% compared to CNY 10,944,668,477.76 in 2019[14]. - The net profit attributable to shareholders for 2020 was a loss of CNY 1,266,651,387.56, representing a decline of 125.18% from a profit of CNY 5,030,210,052.62 in 2019[14]. - The net cash flow from operating activities for 2020 was a negative CNY 1,217,659,313.81, down 124.93% from CNY 4,885,045,782.80 in 2019[14]. - The total assets at the end of 2020 were CNY 33,202,181,016.40, a decrease of 10.68% from CNY 37,171,229,055.74 at the end of 2019[14]. - The net assets attributable to shareholders at the end of 2020 were CNY 29,215,475,240.60, down 8.71% from CNY 32,004,423,802.08 at the end of 2019[14]. - The basic earnings per share for 2020 were -CNY 0.66, a decrease of 125.29% compared to CNY 2.61 in 2019[15]. - The weighted average return on net assets for 2020 was -4.14%, a decrease of 20.84 percentage points from 16.70% in 2019[15]. - Non-recurring gains and losses totaled RMB 115,268,243.74 for 2020, primarily driven by government subsidies and asset disposal losses[18]. - The company's operating revenue for 2020 was 4.30 billion RMB, a decline of 60.68% year-on-year[30]. - The net profit attributable to shareholders was -1.27 billion RMB, a decrease of 125.18% year-on-year[30]. - The company reported a net loss of approximately RMB 1.27 billion for 2020, with no cash dividends distributed, contrasting with a cash dividend of RMB 7.9 per share in 2019[56]. Operational Challenges - The COVID-19 pandemic severely impacted the aviation industry, leading to a significant decline in passenger traffic and operational challenges for the company[19]. - In Q1 2020, the company reported revenue of RMB 1,636,291,904.53, which decreased to RMB 865,586,437.76 in Q4 2020, reflecting a significant decline in overall performance[17]. - The net profit attributable to shareholders was RMB 80,577,057.43 in Q1 2020, but the company faced losses in subsequent quarters, culminating in a net loss of RMB 529,220,740.59 in Q4 2020[17]. - The company experienced a total net cash flow from operating activities of -RMB 1,217,649,313.81 across all four quarters, indicating severe cash flow challenges[17]. - The company is focused on expanding its market presence and enhancing its hub operations to better serve airlines and passengers in the post-pandemic recovery phase[22]. - The company faces significant uncertainties due to the ongoing pandemic, which remains the largest risk affecting industry recovery and operational performance[51]. Strategic Initiatives - The company plans not to distribute profits or increase capital reserves in 2020[3]. - The company aims to improve passenger experience through innovative service management initiatives, including smart security and traffic management systems[24]. - The company has implemented a regional management and professional support model to enhance operational efficiency and service quality at Pudong Airport[22]. - The company aims to transform the Pudong Airport into a world-class aviation hub, focusing on quality over scale in its strategic positioning[49]. - The company plans to enhance operational efficiency and service quality to become a global leader in large airport operations while maximizing shareholder value through continuous innovation[49]. - The company is committed to a harmonious development strategy, leveraging organizational strengths to support reform and development initiatives[49]. Market and Industry Insights - The total number of aircraft takeoffs and landings at Pudong Airport was 325,678, a decrease of 36.37% year-on-year[28]. - Passenger throughput was 30.48 million, down 59.98% compared to the previous year[28]. - Cargo and mail throughput increased by 1.44% to 3.69 million tons[28]. - The company’s total passenger throughput in 2020 was 85,702.3 million, which is 63.4% of 2019 levels[42]. - The total cargo and mail throughput in 2020 was 1,607.9 million tons, equivalent to 94.0% of 2019 levels[42]. - The company expects to achieve 438,000 aircraft takeoffs and landings and a passenger throughput of 42 million in 2021, with international route recovery largely dependent on the progress of overseas pandemic situations[50]. Financial Management and Governance - The company has engaged Lixin Accounting Firm for its 2020 financial audit, with an audit fee of 900,000 RMB[63]. - The company has not faced any major litigation or arbitration matters during the reporting period[64]. - The company has not encountered any situations that would lead to a risk of suspension or termination of its listing[64]. - The company has a diverse leadership team with extensive experience in finance and management across various sectors[90]. - The independent directors include professionals with significant academic and industry backgrounds, enhancing governance[90]. - The company is focused on maintaining strong operational management and financial oversight through its experienced executives[90]. - The company has a structured approach to remuneration based on its internal management guidelines[94]. - The company has a total of 8 board members, with recent changes in leadership roles due to work arrangements[96]. Employee and Community Engagement - The company supported 546 impoverished individuals in poverty alleviation efforts, with a total investment of 200,000 RMB[71]. - The company plans to donate 3 million RMB to the "Shanghai Airport Qihang Public Welfare Fund" for ongoing poverty alleviation initiatives[72]. - The total number of employees in the parent company is 8,093, with a combined total of 8,218 employees including major subsidiaries[97]. - The company emphasizes the importance of talent development and has implemented training to enhance employee capabilities[98]. Accounting Policies and Financial Reporting - The financial statements are prepared based on the accounting standards issued by the Ministry of Finance, ensuring compliance with the relevant regulations[145]. - The company recognizes revenue when control of goods or services is transferred to the customer, indicating the ability to direct the use and obtain almost all economic benefits[190]. - The company adopted the new revenue recognition standard effective January 1, 2020, resulting in a reclassification of advance payments related to aviation services to contract liabilities[200]. - The company recognizes financial liabilities when the current obligations are fully or partially discharged[158]. - The company estimates expected credit losses for financial assets using a combination of past events, current conditions, and forecasts of future economic conditions[160].