SACL(SZ:000089)2021-04-01 16:00Financial Performance - Total revenue for 2020 was CNY 2,996,744,329.58, a decrease of 21.27% compared to CNY 3,806,556,336.27 in 2019[23] - Net profit attributable to shareholders was CNY 28,072,432.05, down 95.27% from CNY 593,716,688.73 in the previous year[23] - Net cash flow from operating activities decreased by 47.97% to CNY 501,300,412.54 from CNY 963,530,678.46 in 2019[23] - Basic earnings per share dropped to CNY 0.0137, a decline of 95.27% compared to CNY 0.2895 in 2019[23] - Total revenue for the year was 2,096,724,329.57 CNY, with a significant increase in the third and fourth quarters, reaching 851,501,410.95 CNY and 864,436,731.17 CNY respectively[28] - The net profit attributable to shareholders showed a recovery in the third and fourth quarters, with profits of 89,754,648.62 CNY and 89,639,135.31 CNY, compared to losses in the first two quarters[28] - The company achieved operating revenue of 2,996.74 million yuan, a decrease of 21.27% year-on-year; total profit was 52.77 million yuan, down 93.21%; net profit attributable to shareholders was 28.07 million yuan, down 95.27%; and basic earnings per share were 0.0137 yuan[57] Assets and Investments - Total assets increased by 7.82% to CNY 15,117,686,664.86 from CNY 14,021,814,490.16 at the end of 2019[23] - Net assets attributable to shareholders decreased by 1.14% to CNY 11,925,087,567.09 from CNY 12,062,597,294.72 in 2019[23] - The total investment during the reporting period was 2,121,099,573.40 CNY, an increase of 42.59% compared to the previous year[97] - The investment in the Shenzhen Airport Satellite Hall expansion project reached 1,897,676,007.55 CNY, with a cumulative investment of 3,749,199,979.86 CNY[99] Operational Efficiency - The net cash flow from operating activities was highest in the third quarter at 252,415,083.55 CNY, indicating improved operational efficiency[28] - The company has maintained a flight release normal rate of over 80%, ranking among the top large airports in the country[48] - The flight release normal rate reached 92.19%, maintaining above 80% for 28 consecutive months, setting a historical record[63] - The company has established a strong corporate culture focused on safety, system, and care, enhancing employee engagement and promoting a collaborative development model[52] Strategic Initiatives - The company is focusing on the construction of a "future airport" and has invested 1,971,246,588.92 CNY in ongoing projects, including terminal upgrades[40] - The company aims to leverage its unique geographical advantages in the Greater Bay Area to enhance its logistics and transportation network[41] - The company is actively pursuing digital transformation and innovation, aiming to establish a "smart airport" to improve operational efficiency[44] - The company has planned nearly 100 smart projects as part of its digital transformation, utilizing new ICT technologies such as artificial intelligence, big data, and 5G to enhance operational efficiency and passenger experience[48] Market Challenges - The company faces risks from macroeconomic factors and competition from alternative transportation methods[5] - The impact of COVID-19 led to a significant decrease in passenger throughput and flight operations, affecting overall revenue and profit margins[36] - The report indicates that the company’s ability to continue as a going concern is uncertain due to negative net profits in recent years[23] Future Outlook - The company aims to achieve 370,000 flight takeoffs and landings in 2021, restoring to 2019 levels, and a passenger throughput of 48 million, which is over 90% of 2019 levels[124] - The cargo and mail throughput target for 2021 is set at 148,000 tons[124] - The company is focused on restoring or expanding over 5 international passenger routes as conditions allow[2] - The company is working to enhance international air cargo capabilities and optimize the import-export ratio of international cargo[2] Profit Distribution - The company plans not to distribute cash dividends or issue bonus shares[6] - The proposed profit distribution plan for 2020 includes no cash dividends, no bonus shares, and no capital reserve conversion into shares[146] - The company is committed to a cash dividend policy, distributing at least 30% of the average annual distributable profit over the last three years in cash[143] - The company will not distribute cash dividends if the earnings per share are below 0.1 yuan or if the audit report is not unqualified[143] Corporate Governance - The company has established a comprehensive supervision system to enhance corporate governance and operational efficiency[123] - The company has engaged Tianzhi International Accounting Firm for internal control audit services, with a total fee of RMB 100,000[165] - The company has not experienced any significant accounting errors requiring retrospective restatement during the reporting period[160] Legal Matters - The company is involved in a lawsuit with Shenzhen Ruihua Construction Co., Ltd. regarding a contract worth approximately ¥417.65 million, claiming damages of ¥29.00 million[170] - The company has recognized a debt claim of ¥17.36 million against Ruihua Construction, which has entered bankruptcy proceedings[170] - The company has incurred a total of ¥69.20 million in compensation costs related to a lease contract dispute with Zhenghong Technology[173]