XIAC(SH:600897)2020-04-16 16:00Financial Performance - In 2019, the company's operating revenue reached ¥1,785,330,954.35, a slight increase of 0.46% compared to ¥1,777,155,707.84 in 2018[20] - The net profit attributable to shareholders was ¥518,327,930.54, representing a growth of 2.51% from ¥505,655,028.75 in the previous year[20] - The net profit after deducting non-recurring gains and losses was ¥492,440,476.24, showing a marginal increase of 0.30% compared to ¥490,961,264.97 in 2018[20] - Basic earnings per share for 2019 were ¥1.7405, up 2.51% from ¥1.6979 in 2018[22] - The weighted average return on equity was 14.13%, a slight decrease of 0.30 percentage points from 14.43% in 2018[22] - Operating costs for 2019 were CNY 1,018.86 million, an increase of 0.19% compared to the previous year[47] - The gross profit margin increased by 0.15 percentage points, driven by revenue growth outpacing cost growth[50] - The company reported a net profit of 3,795.53 million for Xiamen Airport Terminal Investment Co., Ltd., with total assets of 145,043.92 million[69] Cash Flow and Assets - The net cash flow from operating activities decreased by 14.54% to ¥732,836,621.21 from ¥857,528,350.77 in 2018[20] - As of the end of 2019, the total assets amounted to ¥4,556,114,871.40, a decrease of 1.54% from ¥4,627,588,345.60 in 2018[20] - The company's cash and cash equivalents decreased by 46.21% to ¥230,476,515.06, primarily due to increased investments in bank wealth management products[60] - The total current assets increased to CNY 2,021,910,476.07 in 2019 from CNY 1,809,501,253.67 in 2018, indicating a growth of about 11.7%[174] - The total liabilities of the company decreased from RMB 1,576,891,095.70 in 2018 to RMB 1,197,134,246.97 in 2019, reflecting a decline of approximately 24.0%[169] Operational Metrics - In 2019, the total passenger throughput at Xiamen Airport reached 27.41 million, an increase of 3.24% compared to the previous year[40] - The total cargo and mail throughput was 330,500 tons, a decrease of 4.34% year-on-year[40] - The number of aircraft movements was 192,900, a slight decrease of 0.23% from the previous year[40] - International passenger traffic increased by 7.72% to 2.55 million, while regional passenger traffic decreased by 14.06% to 1.11 million[40] - The total amount of flight takeoffs and landings at Xiamen Airport was 192,929, a slight decrease of 0.23% year-on-year, with passenger throughput at 2,741.34 million, an increase of 3.24%[63] Dividend and Profit Distribution - The company proposed a cash dividend of ¥5.23 per 10 shares, totaling ¥155,754,630 for distribution to shareholders[5] - The profit distribution policy for 2019-2021 states that the annual cash distribution will be no less than 30% of the distributable profits attributable to the parent company[81] - In 2019, the company distributed cash dividends of 5.23 RMB per 10 shares, amounting to 155,754,630 RMB, which is 30.05% of the net profit attributable to shareholders[83] Strategic Initiatives and Future Outlook - The company aims to enhance its hub operation quality and develop international routes, focusing on new international destinations from Xiamen[34] - The company is exploring opportunities for international route expansion supported by favorable local policies[71] - The company anticipates a negative growth in major business volumes for 2020 due to the impact of the COVID-19 pandemic[73] - The company is focusing on the application of new technologies to improve passenger experience and management efficiency[74] - The company is committed to building a culturally rich airport that highlights maritime culture and enhances customer service[74] Corporate Governance and Management - The company has changed its accounting firm from Deloitte to Rongcheng CPA for the 2019 financial year, maintaining the audit fee at 900,000 RMB[89] - The company has a structured management team with various roles, including a chairman, directors, and supervisors, all of whom are actively involved in the company's operations[125] - The company has maintained its independent board structure with directors like Liu Zhiyun serving in multiple independent roles[129] - The total remuneration for the management team, including directors and supervisors, is disclosed, with specific amounts for some individuals, such as 49.6万元 for Lin Zhiwei and 25.8万元 for Zhao Hui[125] Environmental and Social Responsibility - The company has completed significant energy-saving projects, including LED lighting and central air conditioning upgrades, contributing to substantial reductions in energy consumption and emissions[109] - Xiamen Airport has been recognized as one of the first carbon emission control enterprises in Fujian Province, successfully exceeding its energy-saving targets for three consecutive years[109] - The company organized multiple public welfare activities in 2019, such as "shared bicycle rectification" and "old clothes recycling," demonstrating its commitment to social responsibility[110] Related Party Transactions - The company engaged in related party transactions with various subsidiaries, with a total of RMB 4,652,880 in maintenance and service management fees[93] - The company reported RMB 4,416,740 in maintenance and electromechanical service fees from Xiamen Zhaoxiang Intelligent Technology Co., Ltd.[93] - The company received RMB 750,259.05 in health check fees from Xiamen Xiangye Group and its subsidiaries[96]