BEIJING AIRPORT(00694)2025-04-28 08:42Financial Performance - Revenue for 2024 reached RMB 5,492,205,000, a 20.5% increase from RMB 4,558,524,000 in 2023[9] - EBITDA for 2024 was RMB 1,174,537,000, compared to RMB 135,845,000 in 2023, marking a significant recovery[9] - The company reported a net loss of RMB 1,389,745,000 for 2024, an improvement from a loss of RMB 1,696,788,000 in 2023[9] - The company's operating revenue for 2024 was approximately RMB 5,492,205,000, a year-on-year increase of 20.5%[23] - Aviation revenue amounted to RMB 2,667,662,000, reflecting a growth of 27.2% year-on-year, while non-aviation revenue was RMB 2,824,543,000, up 14.7%[23] - The company's annual net loss for the fiscal year ending December 31, 2024, was RMB 1,389,745,000, representing an improvement of approximately 18.1% from the previous year's loss[139] - The company's operating expenses for 2024 were RMB 5,856,756,000, a decrease of about 1.0% from the previous year despite rising costs due to increased business volume[127] - The company's depreciation and amortization expenses decreased by approximately 2.6% to RMB 1,509,409,000 due to adjustments in the estimated useful life of certain assets[134] Operational Highlights - The company operated 51 airlines at Beijing Capital Airport by the end of 2024, serving 227 destinations across 54 countries and regions[12] - In 2024, the total number of aircraft takeoffs and landings at Beijing Capital Airport reached 433,572, an increase of 14.2% year-on-year[19] - Passenger throughput for the year was 67,367,428, representing a growth of 27.4% compared to the previous year[19] - Cargo and mail throughput totaled 1,443,286 tons, marking a 29.3% increase year-on-year[19] - The international passenger throughput saw a significant increase of 103.0%, reaching 12,549,141[129] Strategic Initiatives - The introduction of upgraded fast-line products in collaboration with major airlines improved operational efficiency[18] - New differentiated services such as "Home Away from Home" and "Worry-Free Flight Delay" were launched to improve customer experience[18] - The company plans to continue enhancing service quality and operational efficiency in 2025[16] - The company aims to expand its international route network and enhance its competitive position in the global aviation market[29] - The company is committed to sustainable development by increasing the proportion of renewable energy at Beijing Capital Airport[29] Governance and Leadership - The company appointed a new board of directors on June 20, 2023, with terms lasting until the 2025 annual general meeting[100] - The company announced the appointment of Han Zhiliang as the new general manager and Li Zhiyong as the chief financial officer on June 20, 2023[100] - The board of directors includes members with backgrounds in finance and management, which may contribute to sound financial decision-making[105] - The company has a strong leadership team with diverse backgrounds in law, finance, and engineering, enhancing its operational capabilities[115][116][117][118][119][120] Compliance and Risk Management - The company has a strict compliance framework to adhere to significant laws and regulations impacting its operations[39] - The company has implemented a risk management and internal control system to mitigate legal and reputational risks[39] - The company confirms that all related party transactions comply with the relevant regulations under the listing rules, ensuring fair pricing and terms[83] Shareholder Information - The company reported a cumulative loss of RMB 4,380,344,000 as of December 31, 2024, with no distributable reserves available for dividends[48] - The company has not declared any final dividends for the fiscal year ending December 31, 2024[54] - As of December 31, 2024, the total issued share capital of the company is 4,579,178,977 shares, with H shares accounting for 1,879,364,000 shares and domestic shares for 2,699,814,977 shares[84] Employee and Workforce - The total number of employees decreased to 1,516 in 2024 from 1,542 in 2023[146] - The company has a total of 1,018 male employees, accounting for approximately 67.2%, and 498 female employees, accounting for about 32.8%[160] Future Outlook - The management remains optimistic about future growth prospects as the aviation industry continues to recover post-pandemic[127] - The company plans to continue focusing on cost reduction measures while enhancing operational efficiency in the coming year[127] - The company will continue to explore merger and acquisition opportunities to achieve diversification and growth[113]