Core Viewpoint - Xiamen Airport announced the convening of its 12th meeting of the 10th Board of Directors on July 30, 2025, to review the 2025 semi-annual report and its summary [2] Revenue Composition - For the year 2024, the revenue composition of Xiamen Airport is as follows: - Aviation service revenue accounts for 64.91% - Leasing and franchise revenue accounts for 23.38% - Cargo station revenue accounts for 7.62% - Other revenues account for 1.91% - Parking lot revenue accounts for 1.14% [2]

（文章来源：每日经济新闻） 厦门空港（SH 600897，收盘价：14.92元）7月30日晚间发布半年度业绩报告称，2025年上半年营业收 入约9.91亿元，同比增加7.1%；归属于上市公司股东的净利润约2.53亿元，同比增加1.1%；基本每股收 益0.6067元，同比增加1.1%。 ...

Core Insights - Xiamen Airport (600897.SH) reported a revenue of 991 million yuan for the first half of 2025, representing a year-on-year growth of 7.10% [1] - The net profit attributable to shareholders was 253 million yuan, with a year-on-year increase of 1.10% [1] - The net profit excluding non-recurring gains and losses was 219 million yuan, showing a significant year-on-year growth of 15.41% [1] - Basic earnings per share stood at 0.6067 yuan [1] Operational Performance - In the first half of 2025, the airport completed a total of 97,000 takeoffs and landings, marking a year-on-year increase of 3.83% [1] - Passenger throughput reached 14.3164 million, reflecting a year-on-year growth of 5.96% [1] - Cargo and mail throughput amounted to 185,400 tons, with a year-on-year increase of 3.91% [1] - Domestic passenger numbers were 12.245 million, up by 4.50% year-on-year [1] - International passenger numbers reached 2.0714 million, showing a robust year-on-year growth of 15.51% [1]

元翔（厦门）国际航空港股份有限公司 关于厦门翔业集团财务有限公司 2025 年半年度风险评估报告 根据《上海证券交易所上市公司自律监管指引第5号—交易与关联交易》的 要求，元翔（厦门）国际航空港股份有限公司（以下简称"公司"）通过查验厦 门翔业集团财务有限公司（以下简称"财务公司"）的《金融许可证》《企业法 人营业执照》等证件资料，取得并查阅了财务公司相关财务报表及风险管理报告 等经营资料，对财务公司的经营资质、业务与风险状况进行了评估，具体情况报 告如下： 一、财务公司基本信息 （一）公司基本情况 财务公司是经国家金融监督管理总局批准成立的非银行金融机构，金融许可 证机构编码：L0243H235020001，统一社会信用代码：91350200MA349MFX07。 财务公司系厦门翔业集团有限公司的全资子公司，成立时间为 2016 年 7 月 12 日，注册资本为人民币 150,000 万元，法定代表人为龚峥嵘，公司住所：厦 门市思明区仙岳路 396 号翔业大厦 1302、1303、1307 单元。 （二）经营业务范围 财务公司设置高级管理层编制 3 人，其中：总经理 1 人，副总经理 2 人。总 经理下设业 ...

证券代码：600897 股票简称：厦门空港 公告编号：临 2025-022 元翔（厦门）国际航空港股份有限公司 1、审议通过《公司 2025 年半年度报告及其摘要》 表决结果：同意 9 票，反对 0 票，弃权 0 票。 具体内容详见上海证券交易所网站（www.sse.com.cn）。 公司董事会审计委员会 2025 年第三次会议审议通过了本议案，同意将其提 请公司董事会审议。 2、审议通过《关于<厦门翔业集团财务有限公司 2025 年半年度风险评估报 告>的议案》 第十届董事会第十二次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 一、董事会会议召开情况 元翔（厦门）国际航空港股份有限公司（以下简称"公司"）第十届董事会 第十二次会议于 2025 年 7 月 30 日上午以现场及通讯表决方式召开。本次会议通 知于 2025 年 7 月 20 日分别以专人、电子邮件等形式送达公司全体董事。本次会 议应出席董事九名，实际出席会议董事九名。本次会议由朱昭先生主持，会议的 召开符合《公司法》及《公司章程》等有关规定 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 601021 | 春秋航空 | 53.30 | -1.15% | 5.56万 | 2.96 Z | | 000099 | 中信海直 | 22.14 | -0.72% | 13.96万 | 3.09亿 | | 600029 | 南方航空 | 5.77 | -0.35% | 42.98万 | 2.487Z | | 600115 | 中国东航 | 3.87 | -0.26% | 46.95万 | 1.82亿 | | 603885 | 吉祥航空 | 12.63 | -0.16% | 22.33万 | 2.81亿 | | 601111 | 中国国航 | 7.43 | -0.13% | 64.71万 | 4.81亿 | | 600897 | 厦门空港 | 14.92 | 0.07% | 2.56万 | 3833.97万 | | 600009 | 上海机场 | 32.67 | 0.37% | 8.32万 | 2.72亿 | | 002928 | 华夏航空 | 8 ...

Core Viewpoint - Xiamen Airport (600897) reported a revenue of 991 million yuan for the first half of 2025, reflecting a year-on-year growth of 7.1% [1] - The net profit attributable to shareholders reached 253 million yuan, with a year-on-year increase of 1.1% [1] - The basic earnings per share stood at 0.61 yuan [1] Financial Performance - The total operating revenue for the first half of 2025 was 991 million yuan, marking a 7.1% increase compared to the previous year [1] - The net profit attributable to the parent company was 253 million yuan, showing a 1.1% growth year-on-year [1] - Basic earnings per share were reported at 0.61 yuan [1] Operational Metrics - Xiamen Airport completed a total of 97,000 flight takeoffs and landings in the first half of 2025, which is a 3.83% increase year-on-year [1] - The passenger throughput reached 14.3164 million, reflecting a year-on-year growth of 5.96% [1] - The cargo and mail throughput amounted to 185,400 tons, with a year-on-year increase of 3.91% [1]

[Company Profile and Key Financial Indicators](index=4&type=section&id=%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section provides an overview of Xiamen Airport's basic information, key financial performance, and non-recurring gains and losses for the reporting period [Company Basic Information](index=4&type=section&id=%E4%B8%80%E3%80%81%20%E5%85%AC%E5%8F%B8%E4%BF%A1%E6%81%AF) This chapter provides basic information about Yuanxiang (Xiamen) International Airport Co., Ltd. (Xiamen Airport, stock code: 600897), including its name, legal representative, contact details, and information disclosure channels, noting no changes during the reporting period - The company's legal representative is **Lin Shuangzhi**[13](index=13&type=chunk) - The company's designated information disclosure newspaper is "Shanghai Securities News", and its website is the official Shanghai Stock Exchange website (www.sse.com.cn)[16](index=16&type=chunk) [Key Accounting Data and Financial Indicators](index=5&type=section&id=%E4%B8%83%E3%80%81%20%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) During the reporting period, the company achieved operating revenue of **RMB 991 million**, a 7.10% year-on-year increase, with net profit attributable to shareholders reaching **RMB 253 million**, up 1.10%, and **RMB 219 million** after non-recurring items, indicating enhanced core business profitability Key Accounting Data | Key Accounting Data | Current Period (Jan-Jun) (RMB) | Prior Period (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 990,535,110.77 | 924,839,519.12 | 7.10 | | Net Profit Attributable to Shareholders | 252,968,296.53 | 250,215,574.65 | 1.10 | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 218,587,445.50 | 189,399,638.58 | 15.41 | | Net Cash Flow from Operating Activities | 317,433,011.76 | 335,901,376.06 | -5.50 | | **Balance Sheet Data** | **End of Current Period (RMB)** | **End of Prior Year (RMB)** | **YoY Change (%)** | | Net Assets Attributable to Shareholders | 4,586,158,681.49 | 4,466,609,264.96 | 2.68 | | Total Assets | 6,038,260,887.39 | 5,759,673,023.51 | 4.84 | Key Financial Indicators | Key Financial Indicators | Current Period (Jan-Jun) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (RMB/share) | 0.6067 | 0.6001 | 1.10 | | Basic EPS (Excluding Non-Recurring Items) (RMB/share) | 0.5243 | 0.4543 | 15.41 | | Weighted Average Return on Net Assets (%) | 5.53 | 5.88 | Decrease of 0.35 percentage points | | Weighted Average RONAN (Excluding Non-Recurring Items) (%) | 4.78 | 4.45 | Increase of 0.33 percentage points | [Non-Recurring Gains and Losses and Amounts](index=5&type=section&id=%E4%B9%9D%E3%80%81%20%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) During the reporting period, the company's total non-recurring gains and losses amounted to **RMB 34.38 million**, primarily driven by fair value changes and disposal gains/losses from financial assets and liabilities totaling **RMB 46.405 million**, alongside government grants and other non-operating income/expenses Non-Recurring Items | Non-Recurring Items | Amount (RMB) | | :--- | :--- | | Fair Value Changes and Disposal Gains/Losses from Financial Assets and Liabilities Held by Non-Financial Enterprises | 46,404,959.30 | | Government Grants Recognized in Current Profit/Loss | 2,753,863.81 | | Gains/Losses on Disposal of Non-Current Assets | 325,175.00 | | Other Non-Operating Income and Expenses | 584,192.40 | | Less: Income Tax Impact | 12,517,047.63 | | Less: Impact on Minority Interests (After Tax) | 3,170,291.85 | | **Total** | **34,380,851.03** | [Management Discussion and Analysis](index=7&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section provides a comprehensive analysis of the company's operational performance, industry trends, core competencies, and financial position during the reporting period [Industry and Principal Business Overview](index=7&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E6%89%80%E5%B1%9E%E8%A1%8C%E4%B8%9A%E5%8F%8A%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) In the first half of 2025, China's civil aviation industry saw stable growth in both passenger and cargo markets, with significant international recovery, while the company's core operations, including aeronautical and non-aeronautical services, adhere to CAAC regulations and market-based pricing - In the first half of 2025, national airport passenger throughput, cargo and mail throughput, and aircraft movements increased by **5.0%**, **9.2%**, and **0.1%** year-on-year, respectively[23](index=23&type=chunk) - The company's business is categorized into aeronautical and non-aeronautical services, with aeronautical fees primarily regulated by CAAC documents and key non-aeronautical fees subject to market-based pricing[25](index=25&type=chunk) [Discussion and Analysis of Operations](index=8&type=section&id=%E4%BA%8C%E3%80%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5%E7%9A%84%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) In the first half of 2025, Xiamen Airport achieved record operational metrics, with passenger throughput reaching **14.3164 million**, up 5.96% year-on-year, and international passenger growth of 15.51%, resulting in **RMB 219 million** net profit attributable to shareholders after non-recurring items, a 15.41% increase Operating Metrics (H1 2025) | Operating Metrics (H1 2025) | Quantity | YoY Growth | | :--- | :--- | :--- | | Aircraft Movements | 9.70 10,000 movements | 3.83% | | Passenger Throughput | 1431.64 million passengers | 5.96% | | - Domestic Passengers | 1224.50 million passengers | 4.50% | | - International Passengers | 207.14 million passengers | 15.51% | | Cargo and Mail Throughput | 18.54 10,000 tons | 3.91% | - The company was awarded the first National Civil Aviation Blue Sky Commendation, being one of only five airport companies nationwide and the sole recipient in East China[27](index=27&type=chunk) [Aeronautical Business](index=8&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E8%88%AA%E7%A9%BA%E4%B8%BB%E4%B8%9A) During the reporting period, the company optimized its route network, achieving record aircraft movements and passenger throughput, including increased domestic express flights, new international routes to Dili and Kuala Lumpur, exceeding 280 weekly international flights, and a new all-cargo route to East Midlands, UK - New international routes include Xiamen-Dili and Xiamen-Kuala Lumpur (with Batik Air Malaysia), increasing weekly international flights to over **280**[27](index=27&type=chunk) - In cargo, the first regular freight flight from Xiamen to East Midlands, UK, was launched[27](index=27&type=chunk) [Commercial Aspects](index=8&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E5%95%86%E4%B8%9A%E6%96%B9%E9%9D%A2) The company made positive commercial progress by introducing new brands like Yinchuantang and Guming, boosting terminal retail occupancy and revenue, and by attracting Huawei's first airport selective store in Southeast China, while innovating revenue streams through cultural tourism and exhibition collaborations - The terminal's duty-paid commercial areas introduced several new brands, including Huawei's first selective store in Southeast China's airports, boosting occupancy and revenue[28](index=28&type=chunk) - Innovative revenue generation was achieved by leveraging concert economy and exhibition pick-up services[28](index=28&type=chunk) [Safety Management](index=8&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%E5%AE%89%E5%85%A8%E7%AE%A1%E7%90%86) During the reporting period, Xiamen Airport maintained stable and controllable safety operations by improving its responsibility system, enhancing safety capabilities, and strengthening core risk management, with a focus on hazardous materials, bird strikes, FOD prevention, and apron operations, deepening its dual prevention mechanism for risks and hazards - The company focused on managing core risks such as hazardous materials, bird strikes, FOD prevention, and apron operations, deepening the dual prevention mechanism for risks and hazards[29](index=29&type=chunk) [Operational Support](index=8&type=section&id=%EF%BC%88%E5%9B%9B%EF%BC%89%E8%BF%90%E8%A1%8C%E4%BF%9D%E9%9A%9C) The company significantly improved operational efficiency by optimizing airspace structure and flight procedures, leading to a year-on-year decrease in delayed flights, with leading gate turnaround frequency and a flight cut-off time within 30 minutes, ranking first among airports with over 20 million passengers, and successfully completing a city-level aircraft emergency rescue drill - The daily turnaround frequency of C/D class close-in gates ranks **first nationwide**[31](index=31&type=chunk) - Flight cut-off time remained within **30 minutes**, ranking **first** among airports with annual passenger throughput exceeding 20 million[31](index=31&type=chunk) [Service Enhancement](index=9&type=section&id=%EF%BC%88%E4%BA%94%EF%BC%89%E6%9C%8D%E5%8A%A1%E6%8F%90%E5%8D%87) The company received multiple service quality awards, including "Excellent Service Quality Airport" and "Best Airport (10 Million+ Passengers)" for 11 consecutive years, continuously enhancing passenger experience by upgrading city terminals, innovating sea-air intermodal mechanisms, and exploring "aviation+X" service models - Awarded "Excellent Service Quality Airport" in the 2024 Civil Airport Service Quality Evaluation and named "Best Airport (10 Million+ Passengers)" for **11 consecutive years**[32](index=32&type=chunk) - Exploring the "aviation+X" model, building service systems such as "aviation+hotel", "aviation+exhibition", and "aviation+sports events"[32](index=32&type=chunk) [Analysis of Core Competencies](index=9&type=section&id=%E4%B8%89%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competencies include its strategic position as a leading airport and regional aviation hub in the West Coast Economic Zone, exceptional lean management ensuring continuous profitability since listing, consistent safety assurance, a "humanistic airport" experience featuring Fujian-Taiwan marine culture, and highly efficient single-runway operations ranking among the industry's best - As a leading airport in the West Coast Economic Zone, its route network covers **129 cities**, serving as a crucial air hub for the "Belt and Road" initiative[33](index=33&type=chunk) - Leveraging excellent lean management capabilities, the company has maintained continuous profitability since its listing in **1996**, setting a benchmark for profitability in the civil aviation airport industry[34](index=34&type=chunk)[35](index=35&type=chunk) - The single-runway peak hour capacity reaches **35 (+1) movements/hour**, representing the highest level among single-runway airports in China[38](index=38&type=chunk) [Analysis of Key Operating Conditions](index=10&type=section&id=%E5%9B%9B%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E4%B8%BB%E8%A6%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5) This section details the financial performance during the reporting period, highlighting a **42.06%** year-on-year decrease in financial expenses due to reduced lease interest, an **81.56%** drop in other income primarily from lower government grants, a **138.26%** increase in other payables due to dividend accruals, and the company's financial assets, including trust and asset management products, valued at approximately **RMB 3.171 billion** at period-end [Analysis of Financial Statement Item Changes](index=10&type=section&id=1%E3%80%81%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E7%9B%B8%E5%85%B3%E7%A7%91%E7%9B%AE%E5%8F%98%E5%8A%A8%E5%88%86%E6%9E%90%E8%A1%A8) During the reporting period, the company's financial expenses decreased by **42.06%** year-on-year due to reduced lease interest, net cash flow from financing activities changed by **86.65%** due to timing differences in rent payments, other income decreased by **81.56%** primarily due to lower government grants, and credit impairment losses decreased by **313.88%** due to increased bad debt provisions for accounts receivable Financial Statement Item Changes | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 990,535,110.77 | 924,839,519.12 | 7.10 | | Operating Cost | 609,934,924.62 | 596,347,942.14 | 2.28 | | Financial Expenses | 1,869,205.97 | 3,226,002.17 | -42.06 | | Other Income | 8,047,704.23 | 43,647,002.48 | -81.56 | | Credit Impairment Losses | -1,981,983.79 | 926,666.54 | -313.88 | | Net Cash Flow from Financing Activities | -2,536,241.35 | -19,002,537.09 | 86.65 | [Analysis of Assets and Liabilities](index=11&type=section&id=1%E3%80%81%20%E8%B5%84%E4%BA%A7%E5%8F%8A%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5) At the end of the reporting period, the company's total assets were **RMB 6.038 billion**; other non-current assets increased by **154.98%** due to higher capital expenditures on equipment, while other payables surged by **138.26%** due to accrued dividends, and lease liabilities decreased by **49.19%** as lease terms shortened - Other payables increased by **138.26%** at period-end compared to the prior year-end, primarily due to dividends accrued based on shareholder meeting resolutions[41](index=41&type=chunk)[43](index=43&type=chunk) - Lease liabilities decreased by **49.19%** at period-end compared to the prior year-end, primarily due to the natural shortening of remaining lease terms over time[41](index=41&type=chunk)[43](index=43&type=chunk) [Financial Assets Measured at Fair Value](index=12&type=section&id=(3).%E4%BB%A5%E5%85%AC%E5%85%81%E4%BB%B7%E5%80%BC%E8%AE%A1%E9%87%8F%E7%9A%84%E9%87%91%E8%9E%8D%E8%B5%84%E4%BA%A7) At the end of the reporting period, the company's financial assets measured at fair value, primarily trust and asset management products, totaled **RMB 3.171 billion** in book value, an increase from **RMB 2.791 billion** at the beginning of the period, generating **RMB 18.3392 million** in fair value change gains during the period Financial Assets Measured at Fair Value | Asset Category | Beginning Balance (RMB) | Fair Value Change Gain/Loss for Current Period (RMB) | Ending Balance (RMB) | | :--- | :--- | :--- | :--- | | Trust Products | 1,151,930,675.92 | -17,585,949.42 | 409,344,726.50 | | Asset Management Products | 1,625,122,777.78 | 35,630,003.09 | 2,589,752,780.87 | | Other | 13,824,113.85 | 295,194.78 | 171,819,308.63 | | **Total** | **2,790,877,567.55** | **18,339,248.45** | **3,170,916,816.00** | [Analysis of Major Holding and Participating Companies](index=13&type=section&id=(%E5%85%AD)%20%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) The company's major subsidiaries, including Yuanxiang Air Cargo Terminal, Yuanxiang Air Cargo Services, Yuanxiang Aircraft Engineering, and Xiamen Airport Terminal Investment Co., Ltd., all achieved profitability during the reporting period, with Yuanxiang Air Cargo Terminal (Xiamen) Co., Ltd. contributing **RMB 18.34 million** in net profit and Xiamen Airport Terminal Investment Co., Ltd. contributing **RMB 18.74 million**, serving as significant profit sources for the company Major Holding and Participating Companies | Company Name | Type | Operating Revenue (RMB 10,000) | Net Profit (RMB 10,000) | | :--- | :--- | :--- | :--- | | Yuanxiang Air Cargo Terminal (Xiamen) Co., Ltd. | Subsidiary | 5,233.41 | 1,833.96 | | Yuanxiang Air Cargo Services (Xiamen) Co., Ltd. | Subsidiary | 1,094.09 | 988.23 | | Yuanxiang Aircraft Engineering (Fujian) Co., Ltd. | Subsidiary | 8,432.92 | 1,415.94 | | Xiamen Airport Terminal Investment Co., Ltd. | Subsidiary | 4,685.71 | 1,874.25 | [Risks and Opportunities](index=14&type=section&id=(%E4%B8%80)%20%E5%8F%AF%E8%83%BD%E9%9D%A2%E5%AF%B9%E7%9A%84%E9%A3%8E%E9%99%A9) The company faces key risks including global economic uncertainty, challenges from the industry's "natural growth" cycle, and competition from other transport modes like high-speed rail and neighboring airports, while also benefiting from China's economic resilience, civil aviation policy dividends (e.g., "Belt and Road", visa-free policies), and regional industrial planning opportunities, though some trust products held by the company are at risk of overdue redemption - Risks include insufficient global economic growth momentum, trade policy uncertainties, high-speed rail network competition, and industry-specific risks such as oil prices and capacity[45](index=45&type=chunk) - Opportunities arise from China's economic resilience, civil aviation policy dividends like "Belt and Road" and visa-free policies, and regional development opportunities such as the Fujian Free Trade Zone and Xiamen-Zhangzhou-Quanzhou integration[46](index=46&type=chunk) - Significant risk alert: The company's Zhonghang Trust · Tianji Huicai No. 1 and No. 2 trust plans have experienced overdue unrecovered situations, and the company is actively taking measures to recover the funds[47](index=47&type=chunk) [Corporate Governance, Environment, and Society](index=15&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E3%80%81%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A) This section outlines changes in the company's senior management, profit distribution plans, and efforts in social responsibility, particularly in rural revitalization [Changes in Directors, Supervisors, and Senior Management](index=15&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, the company experienced changes in senior management, with Deputy General Managers Ms. Wu Huifang and Mr. Lin Qinglin departing due to work adjustments, and Ms. Shi Xiaoyan appointed as the new Deputy General Manager - In April 2025, Deputy General Managers Wu Huifang and Lin Qinglin resigned, and **Shi Xiaoyan** was appointed as the new Deputy General Manager[49](index=49&type=chunk) [Profit Distribution Plan](index=15&type=section&id=%E4%BA%8C%E3%80%81%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E6%88%96%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E9%A2%84%E6%A1%88) The company has no profit distribution or capital reserve capitalization plan for the first half of 2025 - The proposed semi-annual profit distribution plan is "No"[50](index=50&type=chunk) [Social Responsibility (Rural Revitalization)](index=16&type=section&id=%E4%BA%94%E3%80%81%E5%B7%A9%E5%9B%BA%E6%8B%93%E5%B1%95%E8%84%B1%E8%B4%AB%E6%94%BB%E5%9D%9A%E6%88%90%E6%9E%9C%E3%80%81%E4%B9%A1%E6%9D%91%E6%8C%AF%E5%85%B4%E7%AD%89%E5%B7%A5%E4%BD%9C%E5%85%B7%E4%BD%93%E6%83%85%E5%86%B5) The company actively fulfilled its social responsibility by procuring over **RMB 1.1 million** in aid products from Ningxia during the reporting period, while also providing targeted assistance to Xidong Village in Xiamen's Tongan District through industrial support, donating **RMB 0.25 million** for a "fitness park," and aiding in the construction of a rural revitalization exhibition hall - Over **RMB 1.1 million** was spent on purchasing aid products from the Ningxia region during the reporting period[52](index=52&type=chunk) - Provided targeted assistance to Xidong Village in Tongan District, Xiamen, investing **RMB 0.25 million** to build a "fitness park" and assisting in the construction of a rural revitalization exhibition hall[52](index=52&type=chunk) [Significant Matters](index=16&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section details significant related party transactions, including operational dealings with the parent company and its subsidiaries, financial service agreements, and joint venture arrangements [Significant Related Party Transactions](index=17&type=section&id=%E5%8D%81%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) The company engages in extensive daily related party transactions with its parent company, Xiamen Xiangye Group, and its subsidiaries, including significant payments for maintenance services to Xiamen Zhaoxiang Smart Technology (**RMB 15.80 million**) and property management fees to Xiamen Zhaoxiang Property (**RMB 14.54 million**), while also providing services like media services to Fujian Baixiang Media (**RMB 21.04 million**), and maintaining financial service agreements with Xiamen Xiangye Group Finance Co., Ltd. for deposits and credit lines - The company has extensive daily related party transactions with its parent company, Xiamen Xiangye Group, and its subsidiaries, involving services received, goods purchased, services provided, goods sold, and leases, all priced at market rates[55](index=55&type=chunk)[56](index=56&type=chunk) - The company signed a "Financial Services Agreement" with Xiamen Xiangye Group Finance Co., Ltd., with a deposit balance of **RMB 71.39 million** and a credit line of **RMB 310 million** at the end of the reporting period[57](index=57&type=chunk)[58](index=58&type=chunk)[69](index=69&type=chunk) - The company entered into a 20-year "Underground Parking Lot Cooperative Joint Venture Agreement" with Xiamen Xiangye Group Co., Ltd. to jointly construct and operate an underground parking lot, with profits distributed at an **85%** (company) to **15%** (Xiangye Group) ratio[60](index=60&type=chunk) [Share Changes and Shareholder Information](index=22&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section details the company's share capital stability and shareholder structure, including the total number of shareholders and the top ten shareholders [Changes in Share Capital](index=22&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E6%9C%AC%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, there were no changes in the company's total share capital or share structure - No changes occurred in the company's total share capital or share structure during the reporting period[72](index=72&type=chunk) [Shareholder Information](index=22&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) At the end of the reporting period, the company had **17,169** common shareholders, with controlling shareholder Xiamen Xiangye Group Co., Ltd. holding **68.00%**, indicating a stable equity structure, and the top ten shareholders, excluding the controlling shareholder, primarily comprising domestic individual and institutional investors, suggesting a relatively dispersed ownership - As of the end of the reporting period, the company had **17,169** common shareholders[73](index=73&type=chunk) Top Shareholders | Shareholder Name (Full) | Shares Held at Period-End | Proportion (%) | | :--- | :--- | :--- | | Xiamen Xiangye Group Co., Ltd. | 283,500,000 | 68.00 | | Huang Jujin | 7,500,000 | 1.80 | | Wang Wenfeng | 4,340,000 | 1.04 | | Hong Kong Securities Clearing Company Limited | 3,978,860 | 0.95 | | Chen Xiaoling | 1,648,380 | 0.40 | [Bond-Related Information](index=24&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) This section confirms that the company had no outstanding corporate bonds, enterprise bonds, or non-financial enterprise debt financing instruments during the reporting period [Corporate Bond Information](index=24&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E5%80%BA%E5%88%B8%EF%BC%88%E5%90%AB%E4%BC%81%E4%B8%9A%E5%80%BA%E5%88%B8%EF%BC%89%E5%92%8C%E9%9D%9E%E9%87%91%E8%9E%8D%E4%BC%81%E4%B8%9A%E5%80%BA%E5%8A%A1%E8%9E%8D%E8%B5%84%E5%B7%A5%E5%85%B7) During the reporting period, the company had no outstanding corporate bonds, enterprise bonds, or non-financial enterprise debt financing instruments - The company has no applicable corporate bonds, enterprise bonds, or non-financial enterprise debt financing instruments[79](index=79&type=chunk) [Financial Report](index=25&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section presents the company's unaudited financial statements for the first half of 2025, including the balance sheet, income statement, cash flow statement, and statement of changes in owners' equity, along with significant accounting policies and notes [Audit Report](index=25&type=section&id=%E4%B8%80%E3%80%81%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) This semi-annual financial report is unaudited - This semi-annual report is unaudited[5](index=5&type=chunk)[81](index=81&type=chunk) [Financial Statements](index=25&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This chapter presents the company's consolidated and parent company financial statements for the first half of 2025, including the balance sheet, income statement, cash flow statement, and statement of changes in owners' equity, comprehensively reflecting the company's financial position, operating results, and cash flows during the reporting period Financial Statements Summary | Statement Item | Period-End/Current Period Amount (Consolidated) (RMB) | Period-Beginning/Prior Period Amount (Consolidated) (RMB) | | :--- | :--- | :--- | | **Balance Sheet** | | | | Total Assets | 6,038,260,887.39 | 5,759,673,023.51 | | Total Liabilities | 1,149,141,244.58 | 1,008,327,711.54 | | Equity Attributable to Parent Company Owners | 4,586,158,681.49 | 4,466,609,264.96 | | **Income Statement** | | | | Total Operating Revenue | 990,535,110.77 | 924,839,519.12 | | Net Profit | 271,193,210.84 | 267,985,620.86 | | **Cash Flow Statement** | | | | Net Cash Flow from Operating Activities | 317,433,011.76 | 335,901,376.06 | [Significant Accounting Policies and Estimates](index=41&type=section&id=%E4%BA%94%E3%80%81%E9%87%8D%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E5%8F%8A%E4%BC%9A%E8%AE%A1%E4%BC%B0%E8%AE%A1) This chapter details the company's fundamental accounting policies and estimates for financial statement preparation, including accounting standards, period, and functional currency, along with specific policies for financial instruments, revenue recognition, long-term equity investments, fixed assets, and leases, all prepared on a going concern basis in accordance with enterprise accounting standards - The company's financial statements are prepared on a **going concern basis** and comply with the requirements of enterprise accounting standards[110](index=110&type=chunk)[113](index=113&type=chunk) - Revenue recognition policy: The company recognizes revenue when customers obtain control of goods or services; aeronautical business revenue is recognized when services are provided, while non-aeronautical lease and concession income is recognized monthly based on agreed proportions or amounts[177](index=177&type=chunk)[181](index=181&type=chunk) - Financial instrument impairment: The company recognizes loss provisions for financial assets measured at amortized cost based on expected credit losses, and for accounts receivable, loss provisions are measured based on expected credit losses over the entire lifetime, regardless of significant financing components[136](index=136&type=chunk)[138](index=138&type=chunk) [Notes to Consolidated Financial Statement Items](index=67&type=section&id=%E4%B8%83%E3%80%81%E5%90%88%E5%B9%B6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E6%B3%A8%E9%87%8A) This chapter provides detailed notes and explanations for key consolidated financial statement items, including cash and cash equivalents, financial assets held for trading, accounts receivable, fixed assets, accounts payable, and revenue and cost, covering their composition, aging analysis, impairment provisions, and reasons for changes, along with detailed related party transactions [Accounts Receivable](index=69&type=section&id=5%E3%80%81%20%E5%BA%94%E6%94%B6%E8%B4%A6%E6%AC%BE) At the end of the reporting period, the company's accounts receivable had a book balance of **RMB 262 million**, with a bad debt provision of **RMB 11.60 million**, resulting in a carrying value of **RMB 251 million**, primarily within one year aging, and the top five debtors accounted for **33.78%** of the total ending balance Accounts Receivable Summary | Item | Ending Balance (RMB) | | :--- | :--- | | Accounts Receivable Book Balance | 262,362,741.57 | | Bad Debt Provision | 11,601,199.39 | | Accounts Receivable Carrying Value | 250,761,542.18 | - The top five debtors by ending balance are: Shandong Airlines, China Civil Aviation Information Network, Yuanxiang (Fuzhou) International Airport, Fujian Baixiang Media, and Air China[212](index=212&type=chunk) [Long-Term Equity Investments](index=84&type=section&id=17%E3%80%81%20%E9%95%BF%E6%9C%9F%E8%82%A1%E6%9D%83%E6%8A%95%E8%B5%84) At the end of the reporting period, the company's long-term equity investments in associates had a carrying value of **RMB 52.91 million**, with an investment loss of **RMB 0.24 million** recognized under the equity method for the current period, primarily involving Xiamen Civil Aviation Kaiya Co., Ltd. and Fujian Zhaoxiang Airport Construction Co., Ltd. Long-Term Equity Investments Summary | Investee | Beginning Balance (RMB) | Investment Gain/Loss Recognized by Equity Method for Current Period (RMB) | Ending Balance (RMB) | | :--- | :--- | :--- | :--- | | Xiamen Civil Aviation Kaiya Co., Ltd. | 46,797,745.28 | -245,445.74 | 46,552,299.54 | | Fujian Zhaoxiang Airport Construction Co., Ltd. | 6,353,173.98 | 5,178.67 | 6,358,352.65 | | **Total** | **53,150,919.26** | **-240,267.07** | **52,910,652.19** | [Operating Revenue and Operating Cost](index=100&type=section&id=61%E3%80%81%20%E8%90%A5%E4%B8%9A%E6%94%B6%E5%85%A5%E5%92%8C%E8%90%A5%E4%B8%9A%E6%88%90%E6%9C%AC) During the reporting period, the company achieved operating revenue of **RMB 991 million**, with principal business revenue at **RMB 980 million**, accounting for **98.9%** of total revenue, and operating costs at **RMB 610 million**, with principal business costs at **RMB 609 million** Operating Revenue and Cost Summary | Item | Revenue (RMB) | Cost (RMB) | | :--- | :--- | :--- | | Principal Business | 980,367,855.83 | 609,486,629.58 | | Other Business | 10,167,254.94 | 448,295.04 | | **Total** | **990,535,110.77** | **609,934,924.62** |

格隆汇7月30日丨厦门空港(600897.SH)公布2025年半年度报告，上半年实现营业收入9.91亿元，同比增 长7.10%；归属于上市公司股东的净利润2.53亿元，同比增长1.10%；归属于上市公司股东的扣除非经常 性损益的净利润2.19亿元，同比增长15.41%；基本每股收益0.6067元。 ...

厦门空港公告，2025年上半年营业收入9.91亿元，同比增长7.10%。净利润2.53亿元，同比增长1.10%。 ...