白云机场(600004) - 2015 Q3 - 季度财报

Important Notice This section contains the company's statement on the authenticity and completeness of the quarterly report and confirms it is unaudited Statement on Report Authenticity and Unaudited Status Company's board, supervisory board, and senior management affirm the quarterly report's truthfulness, accuracy, and completeness, with all directors attending the review, and confirm the financial statements are unaudited - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, assuming individual and joint legal responsibility[4] - All directors attended the board meeting to review the quarterly report[4] - Liu Jianqiang (Company Head), Ma Xinhang (Head of Accounting), and Deng Yonggang (Head of Accounting Department) guarantee the truthfulness, accuracy, and completeness of the financial statements in the quarterly report[4] - This third-quarter report is unaudited[4] Company's Key Financial Data and Shareholder Changes This section details the company's financial performance, including asset and profit growth, and outlines shareholder structure Key Financial Data Total assets and net assets attributable to shareholders increased by the end of the reporting period, with significant year-on-year growth in revenue, net profit, and non-recurring net profit, alongside improved EPS and ROE, primarily driven by government subsidies and non-current asset disposal gains Key Balance Sheet Indicators as of the End of the Reporting Period | Indicator | End of Reporting Period (CNY) | End of Previous Year (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 11,718,328,142.92 | 11,073,897,755.11 | 5.82 | | Net Assets Attributable to Shareholders of Listed Company | 9,239,508,610.34 | 8,490,736,974.15 | 8.82 | Key Profit and Cash Flow Indicators from Year-Beginning to End of Reporting Period | Indicator | Year-Beginning to End of Reporting Period (Jan-Sep, CNY) | Year-Beginning to End of Previous Reporting Period (Jan-Sep, CNY) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 1,209,008,984.12 | 1,141,974,147.04 | 5.87 | | Operating Revenue | 4,196,487,790.03 | 4,079,988,837.69 | 2.86 | | Net Profit Attributable to Shareholders of Listed Company | 926,277,348.71 | 744,891,353.11 | 24.35 | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses | 910,266,848.94 | 728,634,643.20 | 24.93 | | Weighted Average Return on Net Assets (%) | 10.48 | 9.36 | Increase 1.12 percentage points | | Basic Earnings Per Share (CNY/share) | 0.81 | 0.65 | 24.62 | | Diluted Earnings Per Share (CNY/share) | 0.81 | 0.65 | 24.62 | Non-Recurring Gains and Losses Items and Amounts (Year-Beginning to End of Reporting Period) | Item | Amount from Year-Beginning to End of Reporting Period (Jan-Sep, CNY) | | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | 782,130.02 | | Government Subsidies Included in Current Profit/Loss | 19,183,600.00 | | Other Non-Operating Income and Expenses Apart from the Above | -1,548,515.10 | | Income Tax Impact | -4,604,303.73 | | Impact on Minority Interests (After Tax) | -592,721.35 | | Total | 13,220,189.84 | Total Number of Shareholders, Top Ten Shareholders, and Top Ten Circulating Shareholders (or Shareholders with Unlimited Conditions) as of the End of the Reporting Period As of the end of the reporting period, the company had 41,524 shareholders, with Guangdong Airport Management Group Co., Ltd. holding 61.96% as the largest shareholder, and all top ten shareholders holding unrestricted circulating shares - As of the end of the reporting period, the total number of shareholders was 41,524[11] Top Ten Shareholders' Shareholding | Shareholder Name | Number of Shares Held at Period-End (shares) | Proportion (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | Guangdong Airport Management Group Co., Ltd. | 712,591,458 | 61.96 | State-owned Legal Person | | Central Huijin Investment Ltd. | 28,941,200 | 2.52 | State-owned Legal Person | | Haitong Securities Co., Ltd. | 22,200,000 | 1.93 | Unknown | | China Securities Finance Corporation Limited | 15,866,104 | 1.38 | State-owned Legal Person | | HKSCC Nominees Limited | 11,685,717 | 1.02 | Unknown | | DEUTSCHE BANK AKTIENGESELLSCHAFT | 8,206,171 | 0.71 | Unknown | | ICBC Credit Suisse Fund - Agricultural Bank of China - ICBC Credit Suisse CSI Financial Asset Management Plan | 8,091,600 | 0.70 | Unknown | | Harvest Fund - Agricultural Bank of China - Harvest CSI Financial Asset Management Plan | 8,091,600 | 0.70 | Unknown | | China Europe Fund - Agricultural Bank of China - China Europe CSI Financial Asset Management Plan | 8,091,600 | 0.70 | Unknown | | Dacheng Fund - Agricultural Bank of China - Dacheng CSI Financial Asset Management Plan | 8,022,112 | 0.70 | Unknown | - All shares held by the top ten shareholders are unrestricted circulating shares[11] - It is unknown whether the aforementioned top ten shareholders have any affiliated relationships or act in concert[11] Total Number of Preferred Shareholders, Top Ten Preferred Shareholders, and Top Ten Preferred Shareholders with Unlimited Conditions as of the End of the Reporting Period The company has no preferred shareholders - Disclosure of preferred shareholder information is not applicable to this company[12] Significant Events This section outlines major changes in financial statement items, progress of significant matters, and shareholder commitments Significant Changes and Reasons for Major Accounting Statement Items and Financial Indicators Major accounting item changes are primarily due to T2 airport expansion, leading to decreased cash, receivables, and deferred tax liabilities, while construction in progress and capital expenditures increased, with financial expenses rising due to increased bank deposits; the company is also pursuing a CNY 3.5 billion convertible bond issuance for the expansion project - The company plans to publicly issue convertible corporate bonds not exceeding CNY 3.5 billion, with proceeds entirely allocated to the Guangzhou Baiyun International Airport expansion project's terminal area, pending CSRC approval[12][13] - Cash and cash equivalents decreased, primarily due to payments for T2 and other airport expansion projects[13] - Construction in progress increased, mainly due to the company's investment in T2 and other airport expansion projects[13] - Deferred income tax liabilities and other comprehensive income decreased, primarily due to the decline in the share price of Everbright Bank held by the company[13] - Financial expenses (net income) increased by 75.99% year-on-year, mainly due to an increase in bank demand deposits[13][29] Analysis and Explanation of Progress, Impact, and Solutions for Significant Events This section contains no specific content disclosure Fulfillment of Commitments by the Company and Shareholders Holding 5% or More of Shares Guangdong Airport Management Group Co., Ltd., the controlling shareholder, committed not to reduce its shareholding in the company during the latter half of 2015 - The controlling shareholder, Guangdong Airport Management Group Co., Ltd., committed not to reduce its shareholding in the company between July 8, 2015, and December 31, 2015[14] Warning and Explanation of Reasons for Potential Cumulative Net Profit Loss or Significant Change from Year-Beginning to End of Next Reporting Period Compared to the Same Period Last Year The company did not disclose any warnings regarding potential cumulative net profit loss or significant changes from year-beginning to the end of the next reporting period - This disclosure item is not applicable to the company[14] Appendix This section provides the company's unaudited financial statements, including balance sheets, income statements, and cash flow statements Financial Statements The appendix includes the company's unaudited consolidated and parent company balance sheets, income statements, and cash flow statements, detailing financial position, operating results, and cash flows as of the reporting period end Consolidated Balance Sheet As of September 30, 2015, consolidated total assets were CNY 11.72 billion, up 5.82% from the year-beginning, driven by a 25.69% increase in non-current assets due to significant T2 expansion, while current assets decreased by 29.17% due to reduced cash Consolidated Balance Sheet Key Item Changes (Period-End vs Year-Beginning) | Item | Period-End Balance (CNY) | Year-Beginning Balance (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,772,978,964.99 | 3,132,739,399.92 | -43.39 | | Total Current Assets | 2,840,583,843.00 | 4,010,585,580.67 | -29.17 | | Construction in Progress | 2,207,704,318.80 | 13,910,736.41 | 15770.50 | | Total Non-Current Assets | 8,877,744,299.92 | 7,063,312,174.44 | 25.69 | | Total Assets | 11,718,328,142.92 | 11,073,897,755.11 | 5.82 | | Employee Benefits Payable | 314,912,646.01 | 208,550,589.71 | 51.01 | | Deferred Income Tax Liabilities | 22,696,122.77 | 33,466,500.27 | -32.18 | | Other Comprehensive Income | 68,088,368.30 | 100,399,500.80 | -32.19 | Parent Company Balance Sheet As of September 30, 2015, parent company total assets were CNY 11.21 billion, up 6.60% from the year-beginning, with non-current assets significantly increasing by 26.70% due to construction in progress, while current assets decreased by 32.39% due to reduced cash Parent Company Balance Sheet Key Item Changes (Period-End vs Year-Beginning) | Item | Period-End Balance (CNY) | Year-Beginning Balance (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,268,815,183.85 | 2,697,165,959.66 | -52.95 | | Total Current Assets | 2,411,085,202.74 | 3,570,158,024.02 | -32.39 | | Construction in Progress | 2,207,704,318.80 | 13,910,736.41 | 15770.50 | | Total Non-Current Assets | 8,796,371,470.20 | 6,942,969,098.48 | 26.70 | | Total Assets | 11,207,456,672.94 | 10,513,127,122.50 | 6.60 | | Employee Benefits Payable | 227,416,681.09 | 140,538,604.40 | 61.82 | | Deferred Income Tax Liabilities | 22,696,122.77 | 33,466,500.27 | -32.18 | | Other Comprehensive Income | 68,088,368.30 | 100,399,500.80 | -32.19 | Consolidated Income Statement From year-beginning to the end of the reporting period, consolidated operating revenue grew by 2.86% to CNY 4.20 billion, with operating profit and net profit increasing by 23.96% and 21.06% respectively, driven by a 4.25% decrease in total operating costs, while basic EPS rose by 24.62% Consolidated Income Statement Key Indicator Changes (Year-Beginning to End of Reporting Period vs Same Period Last Year) | Item | Amount from Year-Beginning to End of Reporting Period (Jan-Sep, CNY) | Amount from Year-Beginning to End of Previous Reporting Period (Jan-Sep, CNY) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 4,196,487,790.03 | 4,079,988,837.69 | 2.86 | | Total Operating Costs | 2,922,531,397.73 | 3,052,362,503.66 | -4.25 | | Operating Costs | 2,517,395,939.85 | 2,677,452,727.93 | -5.98 | | Administrative Expenses | 322,818,634.85 | 281,980,813.13 | 14.48 | | Financial Expenses | -28,916,349.99 | -16,430,831.49 | 75.99 (Net Income Increase) | | Operating Profit | 1,275,701,417.70 | 1,029,156,691.55 | 23.96 | | Net Profit | 963,266,648.28 | 795,687,915.22 | 21.06 | | Net Profit Attributable to Owners of the Parent Company | 926,277,348.71 | 744,891,353.11 | 24.35 | | Basic Earnings Per Share (CNY/share) | 0.81 | 0.65 | 24.62 | | Net Amount of Other Comprehensive Income After Tax | -32,311,132.50 | 3,497,536.66 | -1023.70 | Parent Company Income Statement From year-beginning to the end of the reporting period, parent company operating revenue increased by 4.61% to CNY 3.24 billion, with operating profit and net profit rising by 35.38% and 32.26% respectively, while financial expenses shifted from net income to net expense, and other comprehensive income after tax was negative Parent Company Income Statement Key Indicator Changes (Year-Beginning to End of Reporting Period vs Same Period Last Year) | Item | Amount from Year-Beginning to End of Reporting Period (Jan-Sep, CNY) | Amount from Year-Beginning to End of Previous Reporting Period (Jan-Sep, CNY) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 3,240,445,045.64 | 3,097,860,064.62 | 4.61 | | Operating Costs | 1,880,826,429.96 | 2,030,142,219.03 | -7.35 | | Administrative Expenses | 235,350,378.76 | 202,459,785.05 | 16.25 | | Financial Expenses | -17,483,889.07 | -3,307,934.19 | 428.60 (Net Income Increase) | | Operating Profit | 1,068,477,643.43 | 789,256,281.86 | 35.38 | | Net Profit | 805,425,512.54 | 608,937,792.03 | 32.26 | | Net Amount of Other Comprehensive Income After Tax | -32,311,132.50 | 3,497,536.66 | -1023.70 | Consolidated Cash Flow Statement From year-beginning to the end of the reporting period, net cash flow from operating activities was CNY 1.21 billion, up 5.87%, while net cash flow from investing activities significantly decreased to negative CNY 2.23 billion due to substantial capital expenditures for T2 airport expansion, resulting in a net decrease of CNY 1.36 billion in cash and cash equivalents Consolidated Cash Flow Statement Key Indicator Changes (Year-Beginning to End of Reporting Period vs Same Period Last Year) | Item | Amount from Year-Beginning to End of Reporting Period (Jan-Sep, CNY) | Amount from Year-Beginning to End of Previous Reporting Period (Jan-Sep, CNY) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 1,209,008,984.12 | 1,141,974,147.04 | 5.87 | | Cash Paid for Acquisition of Fixed Assets, Intangible Assets, and Other Long-Term Assets | 2,215,300,722.81 | 38,553,786.42 | 5658.00 | | Net Cash Flow from Investing Activities | -2,231,964,828.26 | -38,553,786.42 | -5690.00 | | Cash Paid for Distribution of Dividends, Profits, or Interest Payments | 336,804,590.79 | 418,577,563.57 | -19.53 | | Net Increase in Cash and Cash Equivalents | -1,359,760,434.93 | 684,842,797.05 | -298.57 | Parent Company Cash Flow Statement From year-beginning to the end of the reporting period, parent company net cash flow from operating activities was CNY 1.10 billion, a slight decrease, while net cash flow from investing activities significantly decreased to negative CNY 2.20 billion due to substantial capital expenditures for fixed assets, resulting in a net decrease of CNY 1.43 billion in cash and cash equivalents Parent Company Cash Flow Statement Key Indicator Changes (Year-Beginning to End of Reporting Period vs Same Period Last Year) | Item | Amount from Year-Beginning to End of Reporting Period (Jan-Sep, CNY) | Amount from Year-Beginning to End of Previous Reporting Period (Jan-Sep, CNY) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 1,104,404,666.08 | 1,148,835,908.70 | -3.87 | | Cash Paid for Acquisition of Fixed Assets, Intangible Assets, and Other Long-Term Assets | 2,191,816,336.44 | 15,047,910.79 | 14466.00 | | Net Cash Flow from Investing Activities | -2,199,255,441.89 | -15,047,910.79 | -14510.00 | | Cash Paid for Distribution of Dividends, Profits, or Interest Payments | 333,500,000.00 | 418,577,563.57 | -20.32 | | Net Increase in Cash and Cash Equivalents | -1,428,350,775.81 | 715,210,434.34 | -299.79 | Audit Report This quarterly report is unaudited - The audit report is not applicable to this quarterly report[48]