Group 1 - The core point of the article is that Meilan Airport (00357) reported a total revenue of approximately RMB 1.079 billion for the first half of 2025, representing a year-on-year decrease of 6.09% [1] - The net loss attributable to shareholders narrowed to approximately RMB 70.20 million, a reduction of 71.7% compared to the previous year [1] - The decrease in net loss was primarily due to the provision for arbitration compensation recorded in the same period of 2024 [1] Group 2 - Excluding the impact of the arbitration case, the net loss for the first half of 2025 increased by RMB 78.55 million compared to the same period last year [1] - The decline in operational metrics at Meilan Airport contributed to a decrease in aviation revenue, with aircraft takeoffs and landings and passenger throughput down by 3.43% and 4.05% year-on-year, respectively, resulting in a reduction of aviation revenue by RMB 28.03 million [1] - Non-aviation revenue also decreased by RMB 41.98 million year-on-year, influenced by a decline in passenger spending [1]

Financial Performance - The company reported a basic earnings per share of 0.0794 yuan for Q1 2025, a 72.23% increase compared to 0.0461 yuan in Q1 2024, and a significant improvement from -0.0526 yuan in Q1 2023 [1] - Net profit for Q1 2025 reached 1.63 billion yuan, marking a 71.58% increase from 0.95 billion yuan in Q1 2024, and a recovery from a loss of 1.08 billion yuan in Q1 2023 [1] - Operating revenue for Q1 2025 was 12.55 billion yuan, up 11.26% from 11.28 billion yuan in Q1 2024, and significantly higher than 9.07 billion yuan in Q1 2023 [1] - The return on equity (ROE) improved to 1.42% in Q1 2025 from 0.85% in Q1 2024, and a negative 1.01% in Q1 2023 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 128,533.21 million shares, accounting for 62.68% of the circulating shares, with a decrease of 1,601.19 million shares compared to the previous period [1] - Shenzhen Airport Group Co., Ltd. remains the largest shareholder with 116,829.55 million shares, unchanged from the previous report [2] - Hong Kong Central Clearing Limited reduced its holdings by 1,027.69 million shares, now holding 2,379.25 million shares [2] - New entrants to the top ten shareholders include Southern CSI 1000 ETF with 766.94 million shares and Zhu Xuesong with 752.50 million shares [2] Dividend Policy - The company has announced that it will not distribute or transfer any dividends this time [3]