XIAC(SH:600897)2021-04-29 16:00Financial Performance - In 2020, the company's operating revenue was CNY 1,225,197,599.23, a decrease of 31.37% compared to CNY 1,785,330,954.35 in 2019[20] - The net profit attributable to shareholders was CNY 171,395,194.05, down 66.93% from CNY 518,327,930.54 in the previous year[20] - The basic earnings per share decreased to CNY 0.5755, a decline of 66.93% compared to CNY 1.7405 in 2019[22] - The company's total assets increased by 3.92% to CNY 4,734,924,767.19 at the end of 2020, compared to CNY 4,556,114,871.40 at the end of 2019[21] - The net cash flow from operating activities was CNY 473,182,632.72, a decrease of 35.43% from CNY 732,836,621.21 in 2019[21] - The weighted average return on equity decreased to 4.58%, down 9.55 percentage points from 14.13% in 2019[22] - The net assets attributable to shareholders at the end of 2020 were CNY 3,749,553,259.50, a slight increase of 0.37% from CNY 3,735,892,728.73 at the end of 2019[21] - The total operating costs for 2020 were CNY 1,029,798,479.28, down 7.8% from CNY 1,116,561,548.75 in 2019[186] - Operating profit for 2020 was CNY 252,096,536.84, a decline of 64.7% from CNY 712,702,785.53 in 2019[186] Cash Flow and Investments - The company reported a cash dividend of CNY 1.73 per 10 shares for 2020, representing 30.06% of the net profit attributable to shareholders[84] - Cash received from investment recoveries rose by 53.66% to ¥2,454,000,000.00, attributed to the recovery of more bank financial products[58] - The company received CNY 2,454,000,000.00 from investment cash inflows in 2020, an increase from CNY 1,597,000,000.00 in 2019[193] - The net cash flow from investment activities was -¥272,612,311.97, an improvement from -¥510,415,625.97 in 2019[194] - The total cash inflow from investment activities was ¥2,488,047,726.03, up from ¥1,623,934,113.83 in the previous year, indicating a significant increase of 53.2%[194] Operational Highlights - The total passenger throughput for the year was 85.72 million, a decrease of 36.6% compared to the previous year, highlighting the impact of the COVID-19 pandemic on the aviation industry[30] - The company maintained its position as a leading airport in the Haixi region, ranking 14th nationally in passenger throughput and 13th in cargo throughput[32] - The company implemented various measures to enhance flight punctuality and resource utilization, contributing to a gradual recovery in transportation production[36] - The company actively engaged in pandemic prevention and recovery efforts, balancing safety measures with operational resumption[37] - The company focused on safety management and risk control, ensuring stable and safe operations throughout the year[34] Shareholder and Dividend Information - The company distributed cash dividends totaling CNY 381,196,800, with a payout of CNY 12.80 per 10 shares[81] - The company plans to distribute at least 30% of its annual net profit as cash dividends from 2019 to 2021, ensuring sustainable returns to shareholders[82] - The largest shareholder, Xiamen Xiangye Group Co., Ltd., holds 202,500,000 shares, accounting for 68.00% of total shares[124] - The total number of ordinary shareholders increased from 17,331 to 19,779 during the reporting period[122] Risk Management and Future Outlook - The company has outlined potential risks in its future development strategy, which investors should be aware of[7] - The company faces risks from ongoing global economic uncertainties and potential impacts from new airport constructions in the region[77] - The company anticipates that the civil aviation industry will play a more strategic role in China's economic development during the 14th Five-Year Plan period[70] - The company recognizes opportunities from national policies such as the "Belt and Road" initiative and aims to leverage these for growth[78] Corporate Governance and Management - The company has a clear governance structure with defined roles for its board members and management[134] - The management team is composed of professionals with backgrounds in finance, law, and operations, contributing to a well-rounded leadership[132] - The total compensation for all directors, supervisors, and senior management at the end of the reporting period amounted to 4.5725 million yuan[136] - The company has not reported any significant internal control deficiencies during the reporting period[160] Social Responsibility and Environmental Initiatives - The company invested a total of RMB 50 million in targeted poverty alleviation efforts, with an additional RMB 145 million in material support[113] - The company has implemented significant energy-saving measures, including LED lighting upgrades and the use of electric vehicles, contributing to substantial reductions in environmental pollution[116] - The company actively participated in social responsibility initiatives, including public welfare activities such as "shared bicycle rectification" and "old clothes recycling"[116]