Airport Corp(SH:600463)2021-04-16 16:00Financial Performance - The company achieved a net profit attributable to the parent company of CNY 9,074,426.77 in 2020, with a total distributable profit of CNY 367,343,830.77 at year-end[5]. - The company's operating revenue for 2020 was approximately ¥1.12 billion, representing a 2.09% increase compared to ¥1.10 billion in 2019[22]. - The net profit attributable to shareholders was ¥9.07 million, a significant recovery from a loss of ¥17.27 million in 2019[22]. - The basic earnings per share for 2020 was ¥0.0302, compared to a loss of ¥0.0576 per share in 2019[23]. - The weighted average return on equity improved to 0.73% in 2020 from -1.31% in 2019[23]. - The net cash flow from operating activities was ¥67.41 million, down 24.97% from ¥89.84 million in 2019[22]. - Total assets increased by 13.06% to ¥3.18 billion in 2020 from ¥2.81 billion in 2019[22]. - The company reported non-recurring gains of ¥72.55 million in 2020, compared to ¥12.33 million in 2019[26]. - The fourth quarter of 2020 saw a net profit of ¥35.92 million, a turnaround from losses in the previous three quarters[25]. - The company’s net assets attributable to shareholders decreased by 1.02% to ¥1.25 billion at the end of 2020[22]. - The company achieved operating revenue of CNY 1,117.91 million, a year-on-year increase of 2.09%[47]. - The net profit attributable to shareholders increased by 152.54% to CNY 9.0744 million[47]. - The total assets of the company reached CNY 3,180.2822 million, reflecting a year-on-year growth of 13.06%[47]. - The company reported a significant decrease in inventory, down 66.70% to 331,900,822.77 RMB, primarily due to the transfer of qualifying inventory to contract assets and liabilities[62]. - The company reported a net profit for 2020 of CNY 4,647,841.79, recovering from a net loss of CNY 22,656,022.18 in 2019[195]. - The total comprehensive income for 2020 was CNY 897,841.79, compared to a loss of CNY 22,656,022.18 in 2019[195]. Dividend and Profit Distribution - A cash dividend of CNY 0.1 per 10 shares (including tax) is proposed, totaling CNY 3,000,000.00 to be distributed to shareholders[5]. - In 2020, the company did not distribute profits and reported a cash dividend of CNY 3 million, which accounted for 33.06% of the net profit attributable to shareholders[96]. Risks and Challenges - The company faces risks from policy changes in Beijing that may impact industrial real estate project sales due to adjustments in industrial policies[9]. - The COVID-19 pandemic significantly affected the global economy, leading to weak demand in the market leasing business and increased costs due to construction project delays[9]. - The company is subject to risks related to macroeconomic conditions, which may affect its annual performance[9]. - The company faces risks from macroeconomic conditions, including the impact of the COVID-19 pandemic on rental market demand and potential cost increases due to fluctuations in raw material and labor prices[92]. Business Operations and Strategy - The company focuses on park development and construction, including land development, industrial real estate, construction engineering, and property leasing and management[32]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[24]. - The company aims to leverage its proximity to Beijing Capital International Airport to enhance its competitive advantage in the air transport and logistics sectors[39]. - The company is actively participating in the transformation of industrial parks towards more refined and sustainable development models[34]. - The company has established three main business modules: industrial real estate development, construction engineering, and property leasing and management[39]. - The company aims to enhance its core competitiveness by developing three major projects: "Airport Innovation Park," "Airport Headquarters Park," and "Airport Industrial City" under the strategy of industrial real estate development[88]. - The company plans to leverage the advantages of the Beijing Capital International Airport to enhance its development model and innovate product design[85]. - The company is actively expanding its development areas beyond the core area of the airport economy, including various industrial bases and zones[83]. Financial Management and Audit - The company has received a standard unqualified audit report from Zhongshen Yatai Certified Public Accountants[4]. - The company’s board of directors and senior management have confirmed the accuracy and completeness of the annual report[4]. - The company has not disclosed any non-operating fund occupation by controlling shareholders or related parties during the reporting period[7]. - The company has not encountered any violations in decision-making procedures regarding external guarantees[8]. - The company has not reported any new non-operating fund occupations during the reporting period, aside from the changes due to the stake transfer[99]. - The company has committed to ensuring the independence of its operations and decision-making processes in accordance with corporate governance standards[98]. - The company has not received any non-standard audit opinions from its accounting firm during the reporting period[100]. - The company has taken measures to ensure compliance with the new accounting standards and has communicated these changes to stakeholders[102]. Shareholder Information - The largest shareholder, Beijing Airport Economic Development Co., Ltd., holds 49.32% of the shares, totaling 147,946,207 shares[131]. - The second largest shareholder, Guokai Financial Co., Ltd., holds 16% of the shares, totaling 48,000,000 shares[131]. - The top ten shareholders include several natural persons, with the largest individual holding being 4,112,600 shares, representing 1.37%[131]. - The company has no strategic investors or general legal entities becoming top ten shareholders during the reporting period[132]. - The controlling shareholder, Beijing Airport Economic Development Co., Ltd., was restructured from a state-owned enterprise to a limited liability company[133]. - The actual controller is the State-owned Assets Supervision and Administration Commission of the People's Government of Shunyi District, Beijing, which indirectly holds 37.51% of shares in another listed company[135]. 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 474, resulting in a combined total of 653 employees[148]. - The company has 259 technical personnel, 59 production personnel, and 15 sales personnel among its total workforce[148]. - The remuneration for directors, supervisors, and senior management is determined based on the company's annual operating performance, job responsibilities, and achievement of performance targets[145]. - The company has implemented a training program that is diverse and flexible, tailored to the needs of the company and employees[150]. - The company has maintained a consistent management team with no new appointments or departures reported[141]. Legal and Compliance Matters - The company is involved in significant litigation matters, including a case where it is owed CNY 24,160,450.05 by Beijing Lvzhu Technology Development Co., Ltd.[106]. - As of the report date, the company has recovered approximately CNY 2.77 million from the aforementioned litigation[108]. - The company has adhered to regulations regarding related party transactions, ensuring that they did not exceed the expected amount during the reporting period[111]. - The company signed a termination agreement with its controlling shareholder to completely divest from land-level development business, as approved in the board meeting[113]. Future Outlook and Strategic Plans - In 2021, the company plans to strengthen its internal control norms and deepen the implementation of its development strategy to achieve a transformation breakthrough during the current opportunity period[89]. - The company will increase its investment in industrial real estate development, construction engineering, and property leasing and management, with a focus on enhancing its marketing system and accelerating resource listing[89].