SIA(SH:600009)2015-03-11 16:00Financial Performance - In 2014, the total operating revenue reached ¥5,750,882,944.36, an increase of 10.27% compared to ¥5,215,129,817.20 in 2013[23] - The net profit attributable to shareholders was ¥2,095,535,174.81, reflecting an 11.89% increase from ¥1,872,854,630.53 in the previous year[23] - The basic earnings per share for 2014 was ¥1.09, up 12.37% from ¥0.97 in 2013[24] - The total assets of the company at the end of 2014 were ¥23,015,062,459.56, a 10.02% increase from ¥20,918,329,469.49 in 2013[23] - The net cash flow from operating activities was ¥2,980,926,188.09, a 4.64% increase compared to ¥2,848,805,330.03 in 2013[23] - The weighted average return on equity increased to 11.77% in 2014, up from 11.36% in 2013[24] - The company achieved operating revenue of CNY 5.75 billion, a year-on-year increase of 10.27%[32] - The net profit attributable to shareholders reached CNY 2.096 billion, up 11.89% year-on-year, marking a new high[32] Passenger and Operational Statistics - In 2014, Pudong Airport's passenger throughput exceeded 50 million for the first time, marking a significant milestone in Shanghai's civil aviation history[27] - The company served 51.69 million passengers, with a year-on-year growth of 9.53%[39] - The total aircraft movements reached 402,100, reflecting an increase of 8.33% compared to the previous year[39] Financial Position and Assets - The net assets attributable to shareholders at the end of 2014 were ¥18,462,607,246.06, an increase of 8.96% from ¥16,945,159,605.65 in 2013[23] - Cash and cash equivalents increased by 34.22% year-on-year, reaching ¥8,959,897,975.3, accounting for 38.93% of total assets[43] - Prepayments decreased by 87.47% year-on-year, totaling ¥5,922,644.41, due to the transfer of prepayments[45] - Interest receivables increased by 64.73% year-on-year, amounting to ¥121,269,167.26, attributed to higher cash balances[45] - Construction in progress rose by 40.34% year-on-year to ¥890,534,338.54, primarily due to expenditures on the T1 terminal renovation project[45] - Deferred tax assets increased by 37.21% year-on-year, totaling ¥104,799,103.65, due to higher deductible temporary differences[45] Liabilities and Financial Obligations - Total liabilities increased, with employee compensation payable rising by 38.14% to ¥386,007,046.91, reflecting unpaid salaries[45] - Tax payable increased by 70.93% year-on-year, reaching ¥467,637,157.34, indicating higher tax obligations[45] Strategic Focus and Future Plans - The company aims to enhance its core competitiveness by focusing on quality and expanding its hub operations to meet the growing aviation demand in Shanghai[44] - The strategic focus has shifted from "expanding scale" to "building quality," positioning the company as a leading player in the global aviation hub market[59] - The company is committed to improving operational efficiency and service levels while enhancing commercial value and implementing management reforms[59] - In 2015, the company expects to achieve 432,000 aircraft takeoffs and landings, with a passenger throughput of 55.3 million[60] Shareholder and Governance Matters - The company plans to distribute a cash dividend of ¥3.5 per 10 shares, totaling ¥674,435,456.8, based on the total share capital at the end of 2014[3] - The company completed the profit distribution for the year 2013, with a cash dividend of CNY 3.5 per 10 shares, representing 32.2% of the net profit attributable to shareholders[65] - The company has maintained a cash dividend policy prioritizing cash dividends over stock dividends in its profit distribution[63] - The company has approved related party transactions for the construction of the flight area underpass and 5th apron renovation project[70] Compliance and Regulatory Matters - The company received a public explanation order from the Shanghai Securities Regulatory Bureau regarding the fulfillment of commitment matters, with a deadline for compliance not being standardized[77] - The company has disclosed its commitment to improving land use plans and obtaining government approvals for its projects[74] - The company is focused on maintaining communication with government departments to facilitate its operational strategies[74] Human Resources and Management - The total number of employees in the parent company is 5,654, and the total number of employees in major subsidiaries is 173, resulting in a combined total of 5,827 employees[118] - The company conducted comprehensive training in 2014 focusing on leadership, professional knowledge, and employee skills, including online education courses[120] - Total remuneration for directors and supervisors during the reporting period amounted to 737.93 million yuan (approximately 105.4 million USD) before tax[107] Internal Control and Audit - The company maintained a standard unqualified opinion on its internal control audit report, indicating effective internal controls over financial reporting[143] - The company did not experience any significant accounting errors or omissions during the reporting period, ensuring the accuracy of its financial disclosures[143] - The company has implemented internal control systems to ensure compliance and the accuracy of financial reporting[142] Market Presence and Future Growth - The company plans to expand its market presence by enhancing ground support services for both domestic and international airlines[136] - The company is actively working on the listing of core assets to resolve potential industry competition issues[138] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[175]