Airport Corp(SH:600463)2017-02-27 16:00Financial Performance - The company achieved a net profit attributable to the parent company of CNY 28,148,656.71 in 2016, with a total distributable profit of CNY 393,354,609.63 at year-end[2]. - In 2016, the company's operating revenue was CNY 709,185,231.92, representing an increase of 11.20% compared to CNY 637,732,301.02 in 2015[17]. - The net profit attributable to shareholders was CNY 28,148,656.71, a 23.86% increase from CNY 22,725,789.51 in the previous year[17]. - The cash flow from operating activities showed a significant improvement, reaching CNY 147,048,212.54, compared to a negative cash flow of CNY -27,535,070.54 in 2015, marking a 634.04% increase[17]. - The total profit amounted to CNY 33.86 million, a decrease of 16.58% compared to the previous year[38]. - The company reported a total of CNY 15,327,141.43 in non-recurring gains and losses for 2016[24]. - The total operating revenue for 2016 was CNY 709,185,231.92, an increase of 11.2% compared to CNY 637,732,301.02 in the previous year[173]. - The net profit for 2016 was CNY 25,628,605.76, a decrease of 15.4% from CNY 30,258,674.71 in the previous year[174]. - The company reported an investment income of CNY 7,314,206.24, significantly higher than CNY 50,642.87 in the previous year[173]. Dividends and Shareholder Returns - A cash dividend of CNY 0.40 per 10 shares (including tax) is proposed, totaling CNY 12,000,000.00 to be distributed to shareholders[2]. - The cash dividend policy allows for a distribution of 0.50 RMB per share for 2015, totaling 15 million RMB, with a proposed distribution of 0.40 RMB per share for 2016[85]. - The company reported a net profit of 22,725,789.51 RMB for 2015, with a total distributable profit of 381,781,090.30 RMB after accounting for previous distributions[85]. Risks and Challenges - The company faces risks related to policy changes affecting industrial land sales and project approvals, which may impact performance[5]. - The cyclical nature of land development and industrial real estate markets is closely tied to macroeconomic conditions, leading to potential fluctuations in annual performance[5]. - The company is subject to risks associated with the adjustment of industrial policies and the optimization of industrial structures in Beijing[5]. - The company recognizes risks related to macroeconomic policies and raw material price fluctuations, which could impact its land development and construction costs[82]. - The company operates in a market environment that may experience significant demand fluctuations due to economic cycles[5]. Assets and Liabilities - The total assets decreased by 20.84% to CNY 2,918,945,582.58 from CNY 3,687,337,864.74 in 2015[17]. - The company's total assets included cash and cash equivalents of CNY 276.39 million, which represented 9.47% of total assets, a decrease of 76.15% from the previous period due to loan repayments[56]. - The company's inventory amounted to CNY 1.46 billion, accounting for 50.16% of total assets, with a slight increase of 1.12% compared to the previous period[56]. - The company's total liabilities included long-term borrowings of CNY 181.5 million, which decreased by 43.04% from the previous period[56]. - Total liabilities decreased from CNY 2,240,722,924.76 to CNY 1,436,025,965.31, a decline of approximately 36%[168]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Beijing Xinghua Accounting Firm[4]. - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and management[4]. - The company has implemented an internal control system to enhance efficiency and risk prevention in decision-making and approval processes[34]. - The board of directors and supervisory board operate independently, ensuring compliance with legal and regulatory requirements[144]. - The company emphasizes equal treatment of all shareholders, particularly minority shareholders, in its operations and decision-making processes[144]. Business Operations and Strategy - The company operates primarily in land development and industrial real estate, focusing on the Beijing airport economic core area[26]. - The company aims to integrate land capital, technology capital, and financial capital to maintain stable growth in land development business[32]. - The company is actively adapting to the transformation and upgrading of industrial park construction, leveraging its experience in park development and capital operation[30]. - The company plans to leverage the rapid development of the capital airport economy and actively participate in the construction of the Shunyi New City, which is a key development area in Beijing[76]. - The company aims to enhance its industrial real estate development by creating new brand projects and improving sales efforts for existing properties, with a focus on a software industry park project expected to be completed by the end of 2017[80]. Shareholder Structure - The total number of common stock shareholders at the end of the reporting period was 12,832, an increase from 12,326 at the end of the previous month[114]. - The largest shareholder, Beijing Tianzhu Airport Economic Development Company, held 147,946,207 shares, representing 49.32% of total shares[116]. - The second largest shareholder, Guokai Financial Co., Ltd., held 48,000,000 shares, accounting for 16.00% of total shares[116]. - The top ten shareholders collectively held a significant portion of the company's equity, with the largest three shareholders alone holding over 65%[116]. - The company does not have any preferred shareholders with restored voting rights as of the reporting period[114]. Employee and Management Information - The total number of employees in the parent company is 179, while the total number of employees in major subsidiaries is 462, resulting in a combined total of 641 employees[139]. - The company has implemented a training program that is diverse and flexible, tailored to the needs of the company and its employees[141]. - The remuneration for directors, supervisors, and senior management is determined based on the company's annual performance, job responsibilities, and completion of performance targets[136]. - The total pre-tax compensation for senior management during the reporting period amounted to 334.35 million CNY[128]. Legal and Regulatory Matters - The company is currently involved in significant litigation related to construction project payments, with a claim amounting to approximately 24.16 million RMB[92]. - A previous court ruling required a subsidiary to receive 21 million RMB in payments, with additional penalties for late payment[93]. - The company has not reported any overdue guarantees or potential joint liability for unexpired guarantees[106]. - The company has not faced any penalties from securities regulatory authorities in the past three years[138].