Core Insights - Shenzhen Airport achieved record-high passenger volume and flight numbers during the summer travel season, with over 11.2 million passengers and more than 76,000 flights from July 1 to August 31, 2025 [1] Group 1: Expansion of Route Network - The airport opened and increased multiple domestic and international routes to meet the rising travel demand, including new domestic routes to cities like Xilin Hot, Hami, and Lishui, and increased flight frequencies to popular tourist destinations [3] - Internationally, new routes were launched to destinations such as Male, Siem Reap, Yangon, and Chiang Mai, with the number of international and regional destinations exceeding 50 [3] - The entry of Emirates Airlines has enhanced the travel experience for passengers on the Shenzhen-Dubai route, showcasing the airport's growing network and partnerships [3] Group 2: Growth in Passenger Sources - The airport actively promoted its services in cities like Jiangmen and Zhongshan, resulting in 187,000 passengers from the Pearl River West Bank during the summer travel season, a 26.5% increase year-on-year [5] - Over 100,000 passengers from Hong Kong traveled to Shenzhen during the summer, reflecting a 6.4% year-on-year growth, indicating the airport's appeal to Hong Kong residents [5] Group 3: Service Quality Enhancements - Shenzhen Airport introduced various services to improve the travel experience, including a "3+N urgent passenger service" for late arrivals and a "worry-free travel" service for international passengers [8] - Special services were designed for families, including dedicated support for unaccompanied minors and elderly passengers, enhancing comfort and convenience [8] - The airport upgraded its international and regional waiting areas and introduced new dining and shopping options to enhance the overall passenger experience [9]

Core Insights - The company reported a revenue of 6.35 billion in H1 2025, representing a year-on-year increase of 4.8%, and a profit of 1.04 billion, up 28.1% year-on-year [1] - The company is adjusting its profit forecasts for 2025-2026 due to the recovery of international travelers and changes in non-aviation business [4] Financial Performance - H1 2025 revenue was 6.35 billion, with a profit of 1.04 billion and a non-recurring profit of 1.03 billion, showing increases of 4.8%, 28.1%, and 27.5% respectively [1] - In Q2 2025, revenue reached 3.18 billion, with a profit of 0.53 billion and a non-recurring profit of 0.51 billion, reflecting year-on-year increases of 4.8%, 22.4%, and 21.6% respectively [1] - Investment income for H1 2025 was 0.46 billion, up 26.7% year-on-year, while Q2 2025 investment income was 0.247 billion, a 4.1% increase [2] Cost and Expense Analysis - H1 2025 operating costs were 4.68 billion, a slight decrease of 0.34% year-on-year, with labor costs increasing by 0.43%, amortization costs decreasing by 0.76%, and operational maintenance costs increasing by 0.76% [2] - Financial expenses amounted to 0.23 billion, up 16.6% year-on-year, primarily due to a decrease in bank deposit interest income, while management expenses were 0.32 billion, an 8.0% increase [2] Business Segment Performance - Aviation revenue for H1 2025 was 2.92 billion, up 8.35% year-on-year, while non-aviation revenue was 3.44 billion, a 1.93% increase [3] - Within non-aviation, commercial catering revenue was 1.09 billion, down 1.9%, logistics service revenue was 0.83 billion, up 0.76%, and other non-aviation revenue was 1.51 billion, up 2.3% [3] - Duty-free revenue for H1 2025 was 0.628 billion, down 3.1%, and advertising contract revenue was 0.297 billion, down 8.0% [3] Operational Data - At Pudong Airport, takeoffs and passenger throughput increased by 5.71% and 11.61% year-on-year respectively in H1 2025, with domestic passenger throughput up 3.8% and international passenger throughput up 23.1% [3] - At Hongqiao Airport, takeoffs and passenger throughput increased by 3.06% and 4.75% year-on-year respectively in H1 2025 [3] Dividend Information - The company announced a cash dividend of 2.1 yuan per 10 shares (including tax), totaling 0.52 billion (including tax), with a mid-year cash dividend payout ratio of 50.05% for 2025 [3] Investment Outlook - The profit forecasts for 2025 and 2026 have been adjusted to 2.17 billion and 2.70 billion respectively, with a new forecast for 2027 at 3.06 billion, leading to EPS estimates of 0.87, 1.08, and 1.23 yuan for 2025-2027 [4] - The company is expected to benefit from the ongoing recovery of international travelers, positioning airports as significant duty-free sales channels, and anticipates a long-term value return from international hub airports [4]

Core Points - The company held its 14th temporary meeting of the 8th Board of Directors on September 4, 2025, to discuss several key proposals [1][2] - The board unanimously approved the liquidation and deregistration of its wholly-owned subsidiary, Shenzhen Saiyida Bonded Logistics Co., Ltd., due to continuous business scale shrinkage [1][2] - The board also approved the signing of performance responsibility agreements and employment contracts with the management team, as well as revisions to the company's compensation management system [2] Group 1 - The meeting was attended by three directors, with one director represented by proxy, and was deemed compliant with relevant laws and regulations [1] - The total assets of Shenzhen Saiyida Bonded Logistics Co., Ltd. were reported at 9.151 million yuan, with cumulative operating income of 45,000 yuan and total profit of 55,000 yuan as of July 31, 2025 [1] - The proposals regarding the management's performance responsibility and compensation management were previously reviewed and approved by the Compensation and Assessment Committee [2]

数据显示，珠江口西岸、香港居民到深圳乘机人次增长明显。 据统计，暑运期间，从珠江口西岸城市到深圳乘机的旅客达18.7万人次，日均超3000人次，同比增长 26.5%。 同时，深圳机场进一步完善深港跨境交通方式，在暑运期间新开通从机场直达香港启德体育园的跨境文 旅专线。据统计，暑运期间到深圳乘机的香港居民超过10万人次，同比增长6.4%，延续了上半年以来 的增长态势，反映出深圳机场航线网络、航班频次以及优质服务对于香港居民的吸引力。(完) （文章来源：中国新闻网） 中新社深圳9月4日电 (索有为刘韶滨)深圳机场4日发布消息称，暑运期间(7月1日至8月31日)，深圳机场 旅客量超过1120万人次、航班量超过7.6万架次，两项指标均创历年暑运新高。 据了解，为满足深圳及周边城市居民避暑出游、跨境旅行、亲子研学等多元需求，深圳机场新开、加密 多条海内外航线，为旺季提供充足运力。其中，深圳机场新开至马累、暹粒、仰光、清迈等多条国际航 线，加密了至金边、新加坡、曼谷、东京等热门国际航点的航班班次，国际及地区航点数量突破50个。 据深圳机场相关负责人介绍，7、8两月深圳机场国际及地区旅客量超过111万人次，超过2019年同 ...

Core Points - The first Long Triangle Airport Lighting Maintenance Skills Competition was held in Shanghai, focusing on enhancing the professional capabilities of airport staff in critical flight support facilities [1][3] - The competition included theoretical tests and practical projects, with 48 outstanding participants from 24 airports in the Yangtze River Delta region competing for various awards [3][6] - The event aims to review the lighting support capabilities of airports in the region and promote high-quality development in civil aviation through talent cultivation and standardization [6] Summary by Categories - **Event Overview** - The competition took place over three days and featured both individual and team projects, including cable connector production and PAPI calibration [3][6] - Awards included individual comprehensive awards and team excellence awards, with top performers receiving titles such as "National Civil Aviation Technical Expert" [3][6] - **Industry Impact** - This competition serves as a practical initiative to deepen the reform of the industrial workforce and support the development of world-class airport clusters [6] - The event is guided by the Shanghai Federation of Trade Unions and co-hosted by various civil aviation unions, highlighting the collaborative effort in enhancing industry standards [6]

Group 1 - The summer transportation period from July 1 to August 31, 2025, saw Shenzhen Airport handle over 11.2 million passengers and over 76,000 flights, both setting historical highs for the summer season [1] - Other airports in the Greater Bay Area also showed strong performance, with Guangzhou Baiyun International Airport serving 14.46 million passengers and handling 96,600 flights during the same period, reflecting a year-on-year increase of 5.26% and 6.93% respectively [1] - Shenzhen Airport experienced significant growth in international passenger traffic, with over 1.11 million international and regional passengers in July and August, surpassing the same period in 2019 [1] Group 2 - The collaborative effect among airports in the Greater Bay Area was more pronounced this summer, highlighted by the opening of Hong Kong Airport's first high-end city terminal in Shenzhen Qianhai [2] - During the summer period, over 187,000 passengers traveled to Shenzhen from cities on the west bank of the Pearl River, averaging over 3,000 passengers daily, marking a year-on-year growth of 26.5% [2] - The introduction of a cross-border cultural tourism express line from Shenzhen Airport to Hong Kong's Kai Tak Sports Park facilitated over 100,000 Hong Kong residents flying from Shenzhen during the summer, a year-on-year increase of 6.4% [2]

每经AI快讯，深圳机场（SZ 000089，收盘价：7.1元）9月4日晚间发布公告称，公司第八届第十四次董 事会临时会议于2025年9月4日在深圳宝安国际机场T3商务办公楼A座802会议室召开。会议审议了《关 于拟清算注销全资子公司的议案》等文件。 截至发稿，深圳机场市值为146亿元。 每经头条（nbdtoutiao）——AI内容强制标识"首周"实测：抖音、小红书、微博自动识别"失灵"，AI应 用文本漏标，视频"会员可去水印" （记者 张喜威） 2025年1至6月份，深圳机场的营业收入构成为：航空性收入占比43.76%，租赁及特许经营收入占比 19.5%，地面服务收入占比15.59%，航空物流收入占比10.78%，航空广告收入占比8.12%。 ...

Investment Rating - The report maintains a "Recommended" rating for Shanghai Airport [2][5] Core Views - The company achieved a revenue of 6.353 billion yuan in H1 2025, representing a year-on-year growth of 4.78%, and a net profit of 1.027 billion yuan, up 27.5% year-on-year [3] - Passenger traffic at Pudong Airport reached 41.16 million, a year-on-year increase of 11.6%, with domestic and international routes growing by 3.77% and 26.25% respectively [3] - The company's aviation revenue for H1 was 2.916 billion yuan, up 8.35% year-on-year, driven by a significant increase in passenger and cargo-related income [3] - Non-aviation revenue growth slowed to 3.437 billion yuan, a 1.93% increase year-on-year, which is below expectations [4] - Cost control remains effective, with labor costs, operating costs, and depreciation expenses growing at 0.43%, 0.76%, and decreasing by 0.76% respectively, indicating a lower growth rate compared to revenue [4] - Investment income for H1 was 457 million yuan, a notable increase from 360 million yuan in the same period last year [5] Financial Forecasts - The company is expected to see net profits of 2.14 billion yuan, 2.59 billion yuan, and 2.82 billion yuan for 2025, 2026, and 2027 respectively, with corresponding EPS of 0.86 yuan, 1.04 yuan, and 1.14 yuan [5] - Revenue projections for 2025-2027 are 13.49 billion yuan, 14.37 billion yuan, and 14.95 billion yuan, with growth rates of 9.09%, 6.48%, and 4.05% respectively [5][10]

Core Viewpoint - The company has received an arbitration decision allowing it to withdraw its arbitration application regarding a contract dispute, with no substantial impact on its operations or profits [1][2]. Group 1: Arbitration Case Details - The company, Guangzhou Baiyun International Airport Co., Ltd., was the applicant in an arbitration case against "China Ocean Intelligence" concerning a baggage inspection equipment contract [1]. - The arbitration decision agreed to the company's request to withdraw the arbitration application, with the case acceptance fee being zero [1]. - The company had prepaid arbitration fees of 170,035 yuan, which will be refunded, and will bear a processing fee of 25,505 yuan [1]. Group 2: Financial Impact - The arbitration decision is not expected to have a substantial impact on the company's production and operations [2]. - The company will conduct accounting treatment based on accounting standards and actual circumstances, with the impact on current or future profits to be confirmed by annual audit results [2]. Group 3: Other Legal Matters - As of the announcement date, the company and its subsidiaries do not have any other significant litigation or arbitration matters that have not been disclosed [2].

Core Viewpoint - The influx of foreign tourists in Osaka has led to a significant increase in abandoned luggage, creating operational challenges for hotels and airports [1][6][10]. Group 1: Impact on Tourism and Hospitality Industry - Osaka welcomed 9.87 million foreign tourists from the beginning of the year to the end of July, setting a historical record [1]. - The surge in tourists has boosted local businesses such as dining, accommodation, and shopping, but has also resulted in a rise in abandoned luggage at various locations [1]. - Hotels, particularly in areas like Shinsaibashi, report handling up to 150 abandoned luggage items annually, incurring substantial costs for storage and processing [6]. Group 2: Handling Abandoned Luggage - Airports have established different recovery mechanisms for abandoned luggage, with fees varying by location, such as 1,200 yen at Chubu Airport [2]. - The process of managing abandoned luggage involves assessing potential safety risks, which can complicate the handling procedures [3][8]. - If luggage is deemed trash, it is discarded; if classified as lost property, it is stored for three months before being sold at market [4]. Group 3: Legal and Regulatory Developments - Japanese society's tolerance for abandoned luggage is decreasing, leading to legal implications under the Waste Management Law, which penalizes the intentional abandonment of items in public spaces [10]. - There are calls for clearer regulations to ensure that the costs associated with abandoned luggage are borne by those responsible for the abandonment, rather than hotels and airports [11][12]. - Suggestions include implementing fees for abandoning luggage and increasing awareness among tourists about potential penalties [12][19]. Group 4: Public Sentiment and Suggestions - Public opinion is leaning towards stricter measures, such as higher entry and exit taxes for tourists and differentiated pricing for locals and foreigners at tourist sites [15][16]. - Some propose innovative solutions like GPS tracking for luggage, requiring a deposit that would only be refunded upon proper return [18][19]. - The overarching sentiment emphasizes the need for tourists to be responsible and considerate, as their actions can impact the overall travel experience and perceptions of visitors [19].