GBIAC(SH:600004) Zheng Quan Zhi Xing·2025-09-01 16:18Core Viewpoint - Guangzhou Baiyun International Airport Co., Ltd. plans to issue up to 210,526,315 A-shares to specific investors, with China International Capital Corporation (CICC) acting as the sponsor for this issuance [1][2]. Group 1: Issuance Details - The issuance will consist of no more than 210,526,315 shares of RMB ordinary stock (A-shares) [1]. - CICC has been appointed as the sponsor for this issuance, ensuring compliance with relevant laws and regulations [2][3]. Group 2: Company Overview - Guangzhou Baiyun International Airport Co., Ltd. was established on September 19, 2000, and is listed on the Shanghai Stock Exchange under the stock code 600004.SH [4]. - The company provides various services related to air transportation, including passenger services, ground services, and airport facility management [4][5]. Group 3: Shareholding Structure - As of June 30, 2025, the total share capital of the company is 2,366,718,283 shares, all of which are unrestricted shares [6]. - The largest shareholder, the Airport Group, holds 57.20% of the shares, indicating it is the controlling shareholder [6]. Group 4: Financial Performance - The company reported total assets of 2,734,215.96 million RMB and total liabilities of 834,923.94 million RMB as of June 30, 2025 [8]. - For the first half of 2025, the company generated operating revenue of 372,604.62 million RMB and a net profit of 76,977.14 million RMB [8][9]. Group 5: Financial Ratios - The company’s current ratio is 1.16, and the quick ratio is 1.14 as of June 30, 2025, indicating a stable liquidity position [9]. - The debt-to-asset ratio stands at 30.54%, reflecting a moderate level of leverage [9]. Group 6: Internal Controls - CICC has established a quality control team to manage and control project risks throughout the issuance process, ensuring compliance with regulatory requirements [13][14].