Financial Performance - Total revenue for the six months ended June 30, 2024, was RMB 1,149.28 million, an increase from RMB 1,065.95 million for the same period in 2023, representing a growth of approximately 7.4%[2] - Net loss attributable to shareholders was RMB 248.05 million, compared to a net loss of RMB 50.62 million in the same period last year, reflecting a significant increase in losses[2] - Basic loss per share was RMB 0.52, compared to RMB 0.11 in the previous year, indicating a worsening of financial performance[9] - The company reported a net loss of RMB 260 million for the six-month period ending June 30, 2024[13] - The company reported a net loss attributable to ordinary shareholders of RMB 248,045,330 for the six months ended June 30, 2024, compared to a loss of RMB 50,620,355 in the same period of 2023, resulting in a basic loss per share of RMB 0.52[21] - The group's operating costs for the six months ended June 30, 2024, were RMB 991,106,517, with total costs and expenses amounting to RMB 1,040,046,522, reflecting a year-on-year increase of 2.51%[55] Revenue Breakdown - Aviation business revenue reached RMB 603.64 million, up from RMB 494.40 million in the prior year, indicating a growth of about 22.2%[2] - The airline business generated revenue of RMB 603,635,580, up from RMB 494,404,533, reflecting a growth of about 22.2% year-over-year[17] - The non-airline business revenue decreased to RMB 545,641,675 from RMB 571,542,433, indicating a decline of approximately 4.5%[17] - Non-aviation business revenue decreased by 4.53% to RMB 545,641,675 in the first half of 2024, primarily due to a decline in duty-free shop sales[48] - The revenue from ground services reached RMB 207,568,620, marking a 22.20% increase year-on-year[48] Operational Metrics - Passenger throughput was 14.49 million, an increase from 12.05 million in the previous year, representing a growth of approximately 20%[2] - Aircraft movements totaled 98,929, up from 85,367 in the prior year, indicating an increase of about 15.9%[2] - Cargo and mail throughput was 116,356 tons, compared to 93,078 tons in the same period last year, showing a growth of approximately 25%[2] - In the first half of 2024, Meilan Airport operated a total of 6,587 wide-body aircraft flights, accounting for 6.7% of total flights, with a year-on-year increase of 3.67% compared to the same period last year and a 6.16% increase compared to 2019[42] - The total passenger throughput for the first half of 2024 reached 14.49 million, a 20.30% increase compared to 12.05 million in the same period of 2023[47] - The number of aircraft takeoffs and landings increased by 15.89% to 98,929 in the first half of 2024 compared to 85,367 in the same period of 2023[47] Assets and Liabilities - Current assets decreased to RMB 481.76 million from RMB 704.86 million at the end of 2023, reflecting a decline of approximately 31.6%[10] - Non-current assets totaled RMB 10,253.60 million, down from RMB 10,656.09 million at the end of 2023, indicating a decrease of about 3.8%[10] - As of June 30, 2024, the company's current liabilities totaled RMB 5.59 billion, a decrease from RMB 6.40 billion as of December 31, 2023, representing a reduction of approximately 12.7%[11] - The total liabilities decreased to RMB 6.75 billion as of June 30, 2024, down from RMB 7.12 billion at the end of 2023, indicating a decline of about 5.2%[11] - The company has a total equity of RMB 3.98 billion as of June 30, 2024, compared to RMB 4.24 billion at the end of 2023, reflecting a decrease of approximately 5.8%[11] - As of June 30, 2024, the group had total borrowings of approximately RMB 3,006,811,284, with cash and cash equivalents of about RMB 23,879,618[58] Strategic Initiatives - The company is focusing on expanding its aviation and non-aviation business segments to improve overall revenue and reduce losses in the future[4] - The company is actively seeking additional bank credit lines to alleviate liquidity pressure[14] - The company plans to enhance service quality and operational efficiency at Meilan Airport, focusing on safety and smart aviation initiatives[28] - The company aims to open 62 international routes by the end of the year to facilitate foreign tourist arrivals and enhance market confidence[31] - The company is enhancing its commercial services by promoting the "Duty-Free" brand, which has led to increased commercial revenue through various promotional activities[72] Tourism and Market Trends - In the first half of 2024, the Chinese civil aviation industry achieved a passenger transport volume of 351 million, a year-on-year increase of 23.5%[27] - The total tourism revenue in Hainan was approximately RMB 109.739 billion, marking a year-on-year increase of 19.8%[29] - The expansion of visa-free entry policies for 59 countries is expected to boost tourism and trade in Hainan, supporting the development of the Hainan Free Trade Port[30] - Hainan Province received 51.09 million domestic and international tourists in the first half of 2024, representing a 10.9% increase year-on-year[29] Corporate Governance - The company is committed to adhering to all regulations set by the China Securities Regulatory Commission and the Hong Kong Stock Exchange, continuously improving its corporate governance structure[95] - The company has established a code of conduct for directors and supervisors that meets or exceeds the standards of the code of conduct[94] - The board consists of four independent non-executive directors as of June 30, 2024[93] - The audit committee is composed of three independent non-executive directors, including one with accounting qualifications[93] Future Outlook - The company anticipates significant capital needs in the second half of 2024 due to the Phase II expansion project, which commenced operations in December 2021, leading to increased cash costs[78] - The company plans to enhance service quality over the next three years and develop a service brand strategy for Meilan Airport[77] - The company will continue to develop the aviation market and coordinate with airlines to increase flight operations during the off-peak season[77]
美兰空港(00357) - 2024 - 中期业绩