SIA(SH:600009)2022-04-15 16:00Financial Performance - The company's operating revenue for 2021 was ¥3,727,797,262.22, a decrease of 13.38% compared to ¥4,303,465,087.94 in 2020[15]. - The net profit attributable to shareholders for 2021 was -¥1,710,938,710.14, compared to -¥1,266,651,387.56 in 2020[15]. - The net cash flow from operating activities for 2021 was ¥310,932,079.85, an improvement from -¥1,217,659,313.81 in 2020[15]. - The total assets at the end of 2021 were ¥51,426,088,634.23, an increase of 54.89% from ¥33,202,181,016.40 at the end of 2020[15]. - The net assets attributable to shareholders decreased by 5.86% to ¥27,504,536,530.46 at the end of 2021 from ¥29,215,475,240.60 at the end of 2020[15]. - The weighted average return on equity was -6.03%, a decrease of 1.89 percentage points from the previous year[16]. - The company's net profit for 2021 was CNY -4.10 million, reflecting a 64.58% decrease in gross profit margin compared to the previous year[46]. - The company’s total equity for its aviation fuel subsidiary reached CNY 4.718 billion, with a net profit of CNY 507 million in 2021[52]. Revenue and Costs - Operating costs were 6,077,066,747.08 RMB, down 7.93% year-on-year, attributed to the implementation of new leasing standards[29]. - Aviation-related revenue increased by 7.21% year-on-year, reaching RMB 1,851,727,446.45, while non-aviation revenue decreased by 27.18% to RMB 1,876,069,815.77[30]. - Passenger and cargo-related revenue decreased by 1.90% to RMB 723,843,431.55, primarily due to the ongoing impact of COVID-19 on international flight volumes[30]. - The company reported a financial expense of approximately ¥439.79 million in 2021, a significant increase from a financial income of ¥265.92 million in 2020[161]. - The company incurred an asset impairment loss of approximately ¥17.29 million in 2021, with no such loss reported in 2020[161]. Operational Highlights - The company facilitated 349,500 aircraft takeoffs and landings at Pudong Airport, an increase of 7.32% compared to the previous year[20]. - Passenger throughput reached 32.2068 million, up 5.68% year-on-year, while cargo and mail throughput increased by 8.03% to 398,260 tons[20]. - The average flight release normality rate was 87.23%, ranking 19th among coordinated airports[20]. - The company achieved a year-on-year increase in passenger throughput of 5.5%, totaling 440 million passengers, reflecting recovery in the aviation sector[44]. - The company maintained a dynamic balance in pandemic prevention and operational continuity, handling one-third of national passenger traffic and half of cargo traffic[44]. Strategic Initiatives - The company is exploring new commercial development paths and optimizing commercial resources in response to the post-pandemic environment[26]. - The company aims to enhance innovation and improve operational efficiency as part of its strategy for high-quality development in the aviation sector[54]. - The company plans to implement a five-pronged development strategy focusing on hub construction, operational excellence, value creation, organizational control, and harmonious development[55]. - The company plans to invest CNY 200 million in the first phase of the Airport Aviation Industry Development Equity Investment Fund[48]. - The company is committed to building a safe, green, smart, and culturally rich airport, enhancing operational efficiency and service quality[56]. Governance and Compliance - The company has established a governance structure that ensures transparency and protects the rights of all shareholders, particularly minority shareholders[59]. - The company has independent financial and accounting systems, ensuring compliance with accounting standards and independent tax obligations[62]. - The company has established specialized committees, including a strategy committee and an audit committee, to enhance governance and oversight[82]. - The audit committee emphasized that the transaction will not harm the interests of minority shareholders and is beneficial for the company's long-term development[85]. - The company is committed to transparency and accountability in its financial reporting and governance practices[70]. Shareholder Information - The total number of ordinary shareholders was 254,814, an increase from 189,452 at the end of the previous month[127]. - The largest shareholder, Shanghai Airport (Group) Co., Ltd., holds 891,290,804 shares, representing 46.25% of total shares[128]. - Shanghai Airport (Group) Co., Ltd. has pledged 833,482,051 shares, which will be released for trading on March 2, 2023[129]. - The company has not implemented any share buyback during the reporting period[134]. - The company is undergoing a significant asset restructuring, which may affect the shareholding structure[129]. Financial Position - The total liabilities increased to approximately ¥23.72 billion from ¥3.64 billion in 2020, marking a significant rise of 551.5%[153]. - The company's equity remained stable at approximately ¥1.93 billion, unchanged from the previous year[153]. - The total equity of the company at the end of 2021 was RMB 27,306,342,229.43, a decrease of RMB 1,543,473,288.01 compared to the previous year[169]. - The comprehensive income for the year was a loss of CNY 1,710,938,710.14, reflecting a significant decline compared to the previous year[167]. - The retained earnings at the end of the year were CNY 21,692,284,006.92, indicating a reduction due to losses incurred during the year[167]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in its report[4]. - The company has detailed potential risks in its management discussion and analysis section[5]. - The company faces macroeconomic risks, including demand contraction and supply shocks, which may adversely affect its operations[57]. - The company anticipates that global passenger traffic will continue to recover in 2022, although volumes will remain significantly below 2019 levels due to the lasting impacts of the pandemic[57]. - The company has not identified any significant internal control deficiencies during the reporting period[97].