BEIJING AIRPORT(HK:00694)2020-04-21 08:31Financial Performance - The company's revenue for 2019 was RMB 10,810,484,000, a decrease of 4.0% from RMB 11,262,512,000 in 2018[7]. - The profit before interest, tax, depreciation, and amortization (EBITDA) was RMB 4,789,354,000, down from RMB 5,375,970,000 in the previous year, representing a decline of 10.9%[7]. - The net profit after tax was RMB 2,419,373,000, a decrease of 15.7% compared to RMB 2,872,055,000 in 2018[7]. - Basic and diluted earnings per share were RMB 0.55, down from RMB 0.66 in 2018, reflecting a decline of 16.7%[7]. - The return on equity (ROE) was 9.69%, down from 12.27% in 2018, indicating a decrease of 20.9%[7]. - The company's annual net profit was RMB 2,419,373,000, a decrease of 15.8% compared to the previous year[92]. - The company's total revenue for 2019 was RMB 10,810,484,000, a decrease of 4.0% compared to the previous year[82]. - The aviation business revenue was RMB 4,088,745,000, down 23.0% year-on-year, primarily due to a decline in air traffic and the cancellation of the civil aviation development fund refund policy[85]. - Non-aviation business revenue increased by 12.9% to RMB 6,721,739,000, driven by new duty-free contracts and improved passenger purchasing power[87]. - The company's operating expenses for 2019 were RMB 7,349,647,000, an increase of 1.7% compared to the previous year[88]. Operational Highlights - The company operated 93 airlines at Beijing Capital International Airport by the end of 2019, with 294 destinations served, including 161 domestic and 133 international[9]. - In 2019, Beijing Capital Airport's total passenger throughput reached 100,011,438, a decrease of 1.0% compared to the previous year, while aircraft movements totaled 594,329, a decline of 3.2%[12]. - The company expanded its international route network and increased the frequency of several international destinations, enhancing its global influence[14]. - The company aims to enhance its comprehensive hub capabilities and improve service quality through infrastructure upgrades and expansion of international markets[10]. - The company aims to build Beijing Capital International Airport into a world-class international hub with a focus on safety, quality, and service[23]. Shareholder and Capital Structure - The company completed a non-public issuance of shares, increasing the total number of ordinary shares from 4,330,890,000 to 4,579,178,977[8]. - The company has a 58.96% shareholding by its parent company, which influences various related transactions[51]. - The major shareholder, Capital Airport Group Company, holds 2,699,814,977 domestic shares, representing 100% of the domestic shares and 58.96% of the total issued shares[58]. - The company confirmed compliance with the disclosure requirements of Chapter 14A of the Listing Rules regarding related party transactions[56]. - The proposed final dividend for 2019 is RMB 0.1533 per share, totaling approximately RMB 701,988,000, which is similar to the previous year's dividend[92]. Governance and Management - The board of directors includes members who also serve as general managers or deputy general managers of the parent company, which may create competitive business interests[63]. - The company emphasizes the importance of independent directors in maintaining corporate governance and oversight, ensuring compliance and strategic direction[73]. - The company has implemented a structured approach to management compensation, aligning it with performance metrics and industry standards[80]. - The company has appointed PwC and Deloitte as its domestic and overseas auditors for the year 2020, respectively[66]. - The company has retained the option to purchase assets related to the new Daxing Airport, which commenced operations on September 25, 2019[63]. Risk Management and Compliance - The company has established a comprehensive risk management and internal control system aimed at ensuring operational efficiency, asset security, and the reliability of financial reporting[122]. - The audit department conducted internal audits in key business areas and high-risk control segments during 2019, reporting to the audit and risk management committee twice[125]. - The company’s financial statements were confirmed to comply with applicable regulations and accounting standards, with external auditors responsible for the accuracy of the financial reports[121]. - The company has implemented strict compliance with fair principles in related transactions during the reporting period[129]. - The company has not engaged in any transactions that would harm shareholder rights or result in asset loss during the acquisition or sale of assets[129]. Future Outlook and Strategic Initiatives - The company plans to strengthen communication with main base airlines and optimize the route network in 2020, focusing on expanding international hub competitiveness[19]. - The company aims to enhance management capabilities and governance levels, striving to align with world-class airport standards while promoting safety and environmental management[19]. - The company has allocated 200 million for research and development in the upcoming year, aiming to innovate in customer service technologies[69]. - The company plans to face challenges from the COVID-19 pandemic by adjusting its structure, improving functions, and enhancing quality and efficiency[20]. - The company has set a future outlook with a revenue guidance of 1.5 billion for the next fiscal year, indicating a growth target of 25%[70].