GBIAC(SH:600004)2014-08-28 16:00Financial Performance - The company achieved operating revenue of CNY 2,681,437,778.79, representing an increase of 8.90% compared to the same period last year[15]. - Net profit attributable to shareholders reached CNY 524,344,963.94, up 16.17% year-on-year[15]. - Passenger throughput reached 26.7177 million, an increase of 4.5% compared to the previous year[18]. - The company completed 200,100 aircraft takeoffs and landings, reflecting a growth of 4.1% year-on-year[18]. - The total assets increased to CNY 10,562,606,715.88, a growth of 6.16% from the end of the previous year[15]. - The net cash flow from operating activities was CNY 827,492,221.07, down 7.62% from the previous year[15]. - The weighted average return on net assets increased to 6.56%, up by 0.5 percentage points year-on-year[15]. - The company's revenue from the aviation services sector reached approximately CNY 2.3 billion, with a gross profit margin of 45.96%, reflecting an increase of 1.46 percentage points year-on-year[23]. - Total operating revenue for the first half of 2014 reached ¥2,681,437,778.79, an increase of 8.9% compared to ¥2,462,324,707.53 in the same period last year[61]. - Net profit attributable to shareholders of the parent company was ¥524,344,963.94, up 16.2% from ¥451,345,703.26 year-on-year[61]. - Basic and diluted earnings per share increased to ¥0.46 from ¥0.39, reflecting a growth of 17.9%[61]. - Operating profit for the first half of 2014 was ¥701,939,960.01, representing a 12.9% increase from ¥621,521,936.99 in the previous year[61]. - Total comprehensive income for the period was ¥553,694,670.01, compared to ¥473,652,761.39 in the previous year, marking a growth of 16.9%[61]. Asset and Liability Management - The total liabilities as of June 30, 2014, were RMB 2,409,420,469.01, up from RMB 1,923,354,621.93, indicating an increase of about 25.3%[55]. - The total equity attributable to shareholders of the parent company was RMB 7,823,024,003.54, compared to RMB 7,728,113,063.42 at the beginning of the period, reflecting a growth of approximately 1.23%[55]. - The company's total liabilities at the end of the reporting period amounted to ¥2,838,634,002.98, up from ¥2,024,719,446.20 at the beginning of the period[59]. - The total accounts payable at the end of the period is 79,883,495.67, a decrease from 98,905,573.69 at the beginning of the period[182]. - The total dividends payable at the end of the period is 431,702,103.41, significantly up from 5,418,558.63 at the beginning of the period[189]. - The total employee compensation payable at the end of the period is 266,334,386.13, an increase from 209,102,432.97 at the beginning of the period, reflecting a net increase of 57,231,953.16[187]. Investment and Capital Structure - The company holds a total investment of CNY 78 million in Everbright Bank, with a year-end book value of CNY 109.43 million, resulting in a loss of CNY 5.33 million during the reporting period[24]. - The company has completed the acquisition of the main aviation assets of the new Baiyun Airport, resulting in a change in revenue allocation where the company now retains 100% of the take-off fees and ground service fees[35]. - The company has applied for approval to change its status to the project legal entity for the Guangzhou Baiyun Airport expansion project, which has a total investment of RMB 179.81 billion[42]. - The company has a 51% stake in Guangzhou Baiyun International Airport Ground Service Co., with an actual investment of CNY 3,506.35 million[137]. - The company has a 90% stake in Guangzhou Baiyun International Business Travel Service Co., with an actual investment of CNY 1,350.00 million[138]. - The company has a 75% stake in Guangzhou Baiyun International Advertising Co., with an actual investment of CNY 2,250.00 million[138]. - The company has a 70% stake in Guangzhou Baiyun International Lufthansa Catering Co., with an actual investment of CNY 4,485.00 million[138]. Corporate Governance and Compliance - The company has maintained a stable shareholding structure, with the largest shareholder, Guangdong Airport Management Group Co., Ltd., holding 61.96% of the shares[45]. - There have been no changes in the company's controlling shareholder or actual controller during the reporting period[47]. - The company continues to comply with corporate governance standards as per the requirements of the Company Law and relevant regulations[38]. - The company has not engaged in any major contracts or transactions outside of the revenue allocation and settlement agreements[36]. - The company has not issued any preferred shares during the reporting period[49]. - The company has not experienced any major litigation, arbitration, or media scrutiny during the reporting period[36]. Cash Flow and Liquidity - The company's cash and cash equivalents increased by 46.05% to CNY 2,541,501,669.49, attributed to increased revenue and collection of receivables[21]. - Cash and cash equivalents at the end of the period were ¥2,508,602,869.49, an increase from ¥1,791,907,633.49 at the beginning of the period[66]. - The net cash flow from operating activities was RMB 936,593,800.37, up from RMB 641,874,496.50, indicating a rise of about 46%[68]. - The company's cash balance as of June 30, 2014, was CNY 2,541,501,669.49, an increase from CNY 1,740,129,336.61 at the beginning of the period[142]. - The total bank deposits as of June 30, 2014, were CNY 2,504,137,327.97, reflecting a strong liquidity position[142]. Financial Reporting and Accounting Policies - The company’s financial statements comply with the requirements of the accounting standards, reflecting a true and complete picture of its financial status[80]. - The company has no changes in accounting policies or estimates for the current period[130]. - The company recognizes revenue from various services when the service has been provided, economic benefits are expected to flow, and revenue can be reliably measured[120]. - The company’s income tax rate is set at 25%[135]. - The company’s deferred tax assets and liabilities are recognized based on temporary differences and applicable tax rates[125]. Employee Compensation and Benefits - The company’s employee compensation includes wages, bonuses, and various social insurance contributions[119].