
Group 1 - The joint venture between Shanghai Airport Group and Nantong Urban Construction Group was established on August 15, 2023, with Shanghai Airport Group holding 51% and Nantong Urban Construction Group holding 49% of the shares [1] - The newly established joint venture, named Hushu Nantong New Airport Construction Investment Co., Ltd., has a registered capital of 1 billion yuan and its business scope includes civil airport operations, public air transportation, construction engineering, civil aircraft maintenance, and general aviation services [1] - The planning for Nantong New Airport began in 2020 when Shanghai Airport Group signed a cooperation agreement with the Nantong municipal government, aiming to make it an important part of the Shanghai international aviation hub [5] Group 2 - In July 2023, Shanghai Airport Group responded to investor inquiries about the progress of Nantong New Airport, stating that it manages both Pudong International Airport and Hongqiao International Airport [6] - Shanghai Airport Group is also advancing the Phase IV expansion project of Pudong Airport, which is a key project under the national "14th Five-Year Plan" and part of the Yangtze River Delta world-class airport cluster [6] - The company disclosed in its 2024 financial report that it paid 454 million yuan to the airport group for the construction of the passenger transit system vehicle base and related projects for the Phase IV expansion of Pudong International Airport [7]