XIAC(SH:600897)2024-08-30 09:55Financial Performance - The company's operating revenue for the first half of 2024 reached ¥924,839,519.12, representing a 13.87% increase compared to ¥812,198,790.61 in the same period last year[14]. - The net profit attributable to shareholders was ¥250,215,574.65, a significant increase of 50.36% from ¥166,413,380.86 in the previous year[14]. - The net cash flow from operating activities was ¥335,901,376.06, which is a 60.99% increase compared to ¥208,651,108.52 in the same period last year[14]. - Basic earnings per share for the first half of 2024 were ¥0.6001, a 50.36% increase from ¥0.3991 in the same period last year[15]. - The company reported a net profit of ¥189,399,638.58 after deducting non-recurring gains and losses, which is a 36.07% increase from ¥139,197,270.27 in the same period last year[14]. - The company reported a total comprehensive income attributable to the parent company of ¥250,215,574.65, compared to ¥166,413,380.86 in the same period last year, marking a 50.3% increase[69]. Assets and Liabilities - The total assets of the company at the end of the reporting period were ¥5,647,211,090.36, up 3.96% from ¥5,432,040,364.07 at the end of the previous year[14]. - The net assets attributable to shareholders increased to ¥4,288,588,561.48, reflecting a 3.42% growth from ¥4,146,775,826.83 at the end of the previous year[14]. - Total liabilities were CNY 1,081,803,494.77, compared to CNY 1,026,215,549.34, showing an increase of about 5.43%[63]. - The company's total liabilities increased to 264,080,987.61 CNY, compared to 126,313,665.20 CNY at the beginning of the period, marking a 109.5% rise[195]. Operational Highlights - In the first half of 2024, the national transportation airports completed a passenger throughput of 700 million, a year-on-year increase of 21.0%[18]. - The cargo and mail throughput reached 9.417 million tons, up 24.1% year-on-year, and the number of takeoffs and landings was 6.05 million, increasing by 8.2% year-on-year[18]. - Passenger throughput reached 13.51 million, fully recovering to 2019 levels, with international passenger volume recovering to 96% of 2019 levels[27]. - The airport's cargo and mail throughput reached 178,400 tons, exceeding 2019 levels by 113%, marking a historical high for the same period[28]. Government Support and Economic Environment - The company received government subsidies amounting to ¥38,804,228.14, which are closely related to its normal business operations[15]. - The company operates in a favorable economic environment, with the aviation transportation market expected to maintain stable growth in the second half of 2024[18]. - The company anticipates a GDP growth target of around 5% for China in 2024, which is significantly higher than the global average, indicating a favorable environment for the civil aviation industry[37]. Corporate Governance and Management - There have been significant changes in the board of directors, with multiple resignations and new appointments, including the election of Lin Shuangzhi as the new general manager[40]. - The company has not proposed any profit distribution or capital reserve transfer plans for the current period[40]. - The company is not currently implementing any employee stock ownership plans or other incentive measures[40]. Environmental and Social Responsibility - The company has been recognized as one of the first carbon emission control enterprises in Fujian Province, completing carbon emission compliance work for seven consecutive years[42]. - The company actively engages in social responsibility initiatives, including targeted poverty alleviation efforts in Xiamen's Tong'an District, with a focus on sustainable development projects[43]. - The company is committed to building a green low-carbon international airport, promoting the use of new energy vehicles and alternative power units[41]. Financial Instruments and Accounting Policies - The company recognizes expected credit losses based on the risk of default, with a focus on both 12-month and lifetime expected credit losses depending on the credit risk stage[105]. - The company has a policy for recognizing and measuring impairment of financial assets, ensuring accurate reflection of credit risk[113][114]. - The company measures identifiable assets and liabilities acquired in business combinations at fair value on the acquisition date[94]. Research and Development - The company has allocated resources for research and development, with a focus on innovative technologies to enhance product offerings and improve market competitiveness[81]. - Research and development expenses were reported at ¥35,171,386.69, compared to ¥31,958,102.79, reflecting an increase of 10.3%[68]. Shareholder Information - The total number of ordinary shareholders reached 17,660 by the end of the reporting period[56]. - The largest shareholder, Xiamen Xiangye Group Co., Ltd., holds 283,500,000 shares, accounting for 68.00% of the total shares[56]. - The company did not report any changes in the total number of shares or share capital structure during the reporting period[55].