Sou Hu Cai Jing·2025-11-01 06:52Core Insights - The domestic aviation industry is experiencing a steady recovery, with major listed airports reporting significant revenue growth in the first three quarters of the year [1][4] - Leading airports like Shanghai and Baiyun are benefiting from the recovery of international routes and strong non-aeronautical business, resulting in substantial profit increases [2][3] Financial Performance of Major Airports - Shanghai Airport reported a revenue of 9.714 billion yuan, a year-on-year increase of 5.69%, and a net profit of 1.634 billion yuan, up 35.98% [2] - Baiyun Airport achieved a revenue of 5.697 billion yuan, growing 7.48%, with a net profit of 1.096 billion yuan, which surged 64.06% [2] - Shenzhen Airport led the growth with a revenue increase of 10.80%, totaling 3.839 billion yuan, and a net profit of 468 million yuan, up 43.21% [3] Regional Airport Performance - Shenzhen Airport's international passenger throughput saw a significant increase of 13% in the third quarter, outperforming domestic routes [3] - Xiamen Airport maintained stable growth with a revenue of 1.523 billion yuan, a 7.21% increase, and a net profit of 384 million yuan, up 3.53% [3] Challenges Faced by Some Airports - Capital Airport reported a revenue of 4.205 billion yuan, a modest increase of 2.33%, but incurred a net loss of 239 million yuan [4] - Hainan Airport experienced a decline in net profit from 212 million yuan to 64 million yuan, despite a revenue increase to 3.280 billion yuan, reflecting a 69.77% drop in profitability [4] Overall Industry Performance - The total revenue of the six major listed airports reached 28.258 billion yuan, a year-on-year growth of 5.49%, while the combined net profit was 3.407 billion yuan, up 44.6% [4]