BEIJING AIRPORT(HK:00694)2021-09-10 08:32Revenue Performance - Total revenue for the first half of 2021 was RMB 1,747,392,000, a decrease of 11.9% compared to RMB 1,982,735,000 in 2020[4] - The company's aviation revenue increased by 22.7% to RMB 698,905,000 from RMB 569,695,000 in 2020[9] - Non-aeronautical revenue decreased by 25.8% to RMB 1,048,487,000 from RMB 1,413,040,000 in the previous year[12] - The company's concession revenue for the first half of 2021 was RMB 564,564,000, a decrease of 36.6% compared to the same period last year[13] - Advertising revenue was RMB 413,329,000, down 24.7% year-on-year, primarily due to the impact of COVID-19 on passenger flow and advertising resource availability[13] - Rental income decreased by 7.5% to RMB 472,637,000, attributed to reduced office and check-in counter rental income due to airline relocations and decreased international passenger traffic[15] - Parking service revenue increased by 27.4% to RMB 25,707,000, mainly due to adjustments in revenue recognition based on contracts[13] Financial Position - The total assets as of June 30, 2021, were RMB 35,378,021,000, a slight decrease of 0.1% from RMB 35,422,916,000 at the end of 2020[4] - Total liabilities increased by 6.2% to RMB 13,998,354,000 from RMB 13,184,682,000 in 2020[4] - Shareholders' equity decreased by 3.9% to RMB 21,379,667,000 from RMB 22,238,234,000 at the end of 2020[4] - The company reported a basic and diluted loss per share of RMB 0.184, a 14.3% increase from RMB 0.161 in 2020[4] - The total issued share capital as of June 30, 2021, was 4,579,178,977 shares, with 58.96% being domestic shares[46] - The company maintained a stable employee count of 1,558 as of June 30, 2021, unchanged from the previous year[38] Cash Flow and Liquidity - As of June 30, 2021, the company's cash and cash equivalents amounted to RMB 2,848,530,000, an increase from RMB 2,296,801,000 as of December 31, 2020, representing a growth of approximately 24%[26] - The net cash used in operating activities for the first half of 2021 was RMB 204,836,000, a decrease from RMB 222,917,000 in the same period of the previous year[28] - The net cash used in investing activities for the first half of 2021 was RMB 306,287,000, slightly up from RMB 298,203,000 in the same period of the previous year[28] - The net cash generated from financing activities for the first half of 2021 was RMB 1,063,078,000, an increase from RMB 685,553,000 in the same period of the previous year[28] - The company's current ratio improved to 0.50 as of June 30, 2021, compared to 0.39 as of December 31, 2020[28] - The debt-to-asset ratio increased to 39.57% as of June 30, 2021, up from 37.22% as of December 31, 2020[28] Operational Performance - The total number of aircraft movements increased by 33.1% to 157,900 compared to 118,648 in the same period last year[7] - Passenger throughput rose by 40.2% to 18,237,613 compared to 13,010,765 in the previous year[7] - Operating expenses totaled RMB 2,794,876,000, a decrease of 2.7% year-on-year[17] - General, administrative, and other expenses decreased by 53.3% to RMB 84,143,000, mainly due to reduced one-time pandemic-related expenditures[19] - The company reported a net financial cost of RMB 62,521,000, a decrease of 2.9% year-on-year, influenced by currency exchange gains from USD-denominated liabilities[20] Future Outlook and Strategy - The company plans to strengthen public health system construction and improve emergency response plans for public health events in the second half of 2021[22] - The company aims to enhance communication and cooperation with airlines to promote the recovery of the aviation market at Beijing Capital Airport[22] - The company continues to monitor the impact of the COVID-19 pandemic on international passenger throughput and will take necessary measures accordingly[83] - The company is exploring new strategies for market expansion and product development, although specific details were not disclosed in the provided content[166] - The company continues to focus on improving operational efficiency and cost management in response to changing market conditions[166] Shareholder Information - The company’s major shareholders include various investment managers and entities, indicating a diverse ownership structure[47] - Capital Airport Group Co., Ltd. holds 2,699,814,977 shares, representing 58.96% of the total issued shares[47] - T. Rowe Price holds 188,418,000 shares, accounting for 10.02% of H shares[47] - Citigroup Inc. has a total of 166,251,356 shares (long) and 14,099,163 shares (short), representing 8.84% and 0.75% of H shares respectively[47] - BlackRock, Inc. holds 128,111,431 shares (long) and 26,008,000 shares (short), making up 6.82% and 1.38% of H shares respectively[47] - Aberdeen Asset Management PLC holds 114,868,000 shares, which is 6.11% of H shares[47] Compliance and Governance - The Audit and Risk Management Committee has reviewed the financial data for the six months ending June 30, 2021, ensuring compliance with applicable accounting standards[60] - The company confirms adherence to the Corporate Governance Code, with all provisions complied with except for a minor deviation regarding attendance at the annual general meeting[62] - The company has not reported any significant operational changes since the last annual report published on April 28, 2021[55] Accounting and Financial Reporting - The company has adopted new accounting standards and revisions, which are not expected to have a significant impact on current or future reporting periods[90] - The company has assessed the impact of new accounting standards and will continue to evaluate their effects in the future[93] - Financial assets and liabilities' carrying amounts are close to their fair values, indicating minimal impact from discounting[102] - The company has maintained its risk management policies without any changes since the end of the previous year[97]