Core Points - Chengdu Tianfu International Airport has upgraded all 58 units of millimeter-wave body imaging security check equipment to the latest A3 level standard, becoming the airport with the highest number and proportion of A3 level millimeter-wave gates in China, significantly enhancing the detection capability and accuracy for various prohibited items and alleviating the queuing phenomenon during peak passenger flow [1][2] Group 1 - The airport was the first in the country to implement large-scale use of millimeter-wave gates during its construction phase, which can detect metals, liquids, and explosives without physical contact, while also protecting passenger privacy [2] - The upgrade to A3 level millimeter-wave gates has eliminated blind spots for foot detection, achieving 100% metal detection for the feet, and improved overall equipment performance through algorithm optimization [2] - Since the implementation of A3 level gates, the foot recheck rate has decreased to 53.89%, the average personal inspection time has reduced from 25 seconds to 19 seconds, and the average release efficiency during peak hours has increased from 164 to 178 passengers, representing an efficiency improvement of approximately 8.5% [2] Group 2 - The airport plans to continue exploring "non-contact" security check models and aims to build a modern security system characterized by "zero tolerance for safety, warm service, and improved efficiency," contributing to the overall safety service level of the aviation industry [3]

Group 1: Company Overview and Financial Performance - The company reported a slight increase in overall revenue for 2024, but faced a significant decline in gross profit margin due to intensified competition, resulting in a year-on-year decrease in gross profit [2][3] - In 2024, the company recognized various impairment losses totaling approximately 37.6 million yuan [3] - The company adopted a cautious approach in 2024, overestimating bad debt provisions by 7 million yuan, although actual bad debts were minimal [4] Group 2: Cash Flow and Collection Measures - In Q1 2025, the company achieved cash collections of approximately 90 million yuan, comprising 70 million yuan in cash and 20 million yuan in notes [5] - The company holds weekly and monthly meetings to monitor cash collection status, with performance metrics increasingly tied to collection outcomes [5] Group 3: Strategies to Address Losses and Delisting Risks - The company’s board and management are committed to implementing effective measures to improve operational and financial conditions, aiming to eliminate delisting risk warnings [6] - Key strategies include focusing on core security operations, controlling costs, enhancing sales incentives, and increasing efforts to collect receivables [6] - The company plans to explore mergers and acquisitions that align with its strategic development goals [7] Group 4: Debt and Asset Management - The company has over 100 million yuan in unutilized fundraising, which is expected to generate revenue once investment projects are completed [8] - The company’s net assets exceed 700 million yuan, with an asset-liability ratio below 40%, providing a solid foundation for debt repayment capabilities [8] Group 5: Conditions for Lifting Delisting Risk Warning - The company can apply to lift the delisting risk warning if it meets specific financial criteria in its 2025 audited report, including a positive net profit or a minimum operating revenue of 300 million yuan [8]