Airport Corp(SH:600463)2021-04-16 16:00Financial Performance - In 2019, the company reported a net profit attributable to shareholders of -17,271,504.53 RMB, a decrease of 212.84% compared to the previous year's profit of 15,306,177.17 RMB[5]. - The company's operating revenue for 2019 was 1,095,013,465.27 RMB, reflecting a decline of 13.48% from 1,265,608,185.22 RMB in 2018[20]. - Basic earnings per share for 2019 was -0.0576 yuan, a decrease of 212.84% compared to 0.051 yuan in 2018[21]. - Diluted earnings per share for 2019 was also -0.0576 yuan, reflecting the same percentage decrease as basic earnings[21]. - The weighted average return on equity decreased by 2.40 percentage points to -1.31% in 2019 from 1.09% in 2018[21]. - Total revenue for Q4 2019 reached 470,957,399.43 yuan, with a net profit attributable to shareholders of 13,248,445.36 yuan[24]. - The company reported a significant increase in net profit in Q4 2019, contrasting with losses in earlier quarters, indicating a potential turnaround[24]. - The company achieved a net profit of CNY 15,306,177.17 for the year 2018, with a total distributable profit of CNY 394,430,331.57 after accounting for previous distributions[84]. - The company reported a total revenue of 1,095,013,465.27 CNY for the period, a decrease of 13.48% compared to the previous year[44]. - Net profit attributable to shareholders was -1,727.15 million CNY, down 212.84% year-on-year[44]. Cash Flow and Liquidity - The net cash flow from operating activities improved to 89,840,886.50 RMB in 2019, compared to a negative cash flow of -296,350,598.26 RMB in 2018, marking a 130.32% increase[20]. - Total operating cash flow net amount increased by 130.32% to ¥386,191,484.76, primarily due to increased cash received from sales of goods and services[53]. - Total investment cash flow net amount increased by 86.15% to ¥108,970,105.88, mainly because there were no significant investment cash outflows in the current period[53]. - Total financing cash flow net amount decreased by 127.58% to -¥456,034,005.64, primarily due to a reduction in cash received from borrowings compared to the previous year[53]. - The company’s operating cash flow for the period was 89,840,886.50 CNY, a significant improvement from -296,350,598.26 CNY in the previous year, marking a 130.32% increase[46]. - The total cash and cash equivalents at the end of 2019 were 256,688,571.53 RMB, a decrease from 282,934,317.16 RMB at the end of 2018[196]. Assets and Liabilities - Total assets at the end of 2019 were 2,812,968,705.78 RMB, down 3.29% from 2,908,673,738.18 RMB at the end of 2018[20]. - The company's net assets attributable to shareholders decreased by 10.80% to 1,258,516,815.55 RMB at the end of 2019, compared to 1,410,953,161.60 RMB at the end of 2018[20]. - Current assets totaled ¥1,591,957,325.81, down from ¥1,696,019,965.95 in the previous year, indicating a decrease of about 6.1%[177]. - Total liabilities rose to ¥1,509,454,147.91 from ¥1,447,338,316.61, reflecting an increase of approximately 4.3%[179]. - The company's equity attributable to shareholders decreased to ¥1,258,516,815.55 from ¥1,410,953,161.60, a decline of about 10.8%[179]. Business Operations and Strategy - The company operates in the unique sector of airport economic zones, focusing on land development and industrial real estate[30]. - The company’s industrial real estate development includes a range of services from production to logistics and research, aimed at generating economic benefits[30]. - The company is actively developing approximately 167.97 acres of land in the Airport C Zone, with additional projects covering 261.99 acres, 274.91 acres, and 127.33 acres in various industrial bases[38]. - The company is focusing on transforming its business structure to include land development, industrial real estate development, construction engineering, and property leasing and management[35]. - The company aims to integrate land, technology, and financial capital to promote sustainable development and maintain stable growth in land development business[35]. - The company plans to focus on the rapid development opportunities in the capital's airport economy, optimizing its park development model and innovating product design[76]. - The company is positioned to benefit from the construction of the Shunyi New City, which aims to create a world-class aviation hub and promote high-end service industry clusters[76]. Risks and Challenges - The company faces risks related to policy changes in Beijing that may impact industrial land sales and project approvals[7]. - The company is exposed to cyclical fluctuations in the land development and industrial real estate market, which are closely tied to macroeconomic conditions[7]. - Fluctuations in raw material and labor costs significantly impact the company's real estate development and construction business, posing a risk of increased costs[81]. - The company is closely monitoring macroeconomic conditions and land policy trends to mitigate risks associated with resource dependency and capital intensity[81]. Corporate Governance and Compliance - The company has not reported any non-operational fund occupation by controlling shareholders or related parties[7]. - The company has not faced any penalties from securities regulatory authorities in the past three years[141]. - The company has not reported any significant changes in its major accounting estimates or policies that would affect its financial results[90]. - The company has not disclosed any significant debt defaults or unfulfilled court judgments during the reporting period[97]. - The company has not faced any risks of suspension or termination of its listing during the reporting period[94]. Shareholder Information - The largest shareholder, Beijing Airport Economic Development Co., Ltd., holds 147,946,207 shares, representing 49.32% of the total shares[121]. - The second largest shareholder, Guokai Financial Co., Ltd., holds 48,000,000 shares, accounting for 16.00% of the total shares[121]. - The total number of ordinary shareholders at the end of the reporting period is 18,314, an increase from 16,860 at the end of the previous month[119]. Employee and Management Information - The total number of employees in the parent company is 184, while the main subsidiaries employ 509, resulting in a total of 693 employees[142]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to 549.58 million yuan[134]. - The company has not granted any equity incentives to directors or senior management during the reporting period[137]. - The company has implemented a training program tailored to diverse employee needs, focusing on various levels and categories[144].