SACL(000089)2024-12-16 08:45Group 1: Financial Performance - The net cash flow from operating activities for the first three quarters of 2024 was 1.6 billion CNY, indicating stable cash flow [2] - The net profit for the first three quarters of 2024 increased by 99.38% year-on-year, driven by an 18.5% increase in passenger throughput and a 10.1% increase in flight takeoffs and landings [3][4] - Revenue for the first three quarters of 2024 grew by 13.92%, primarily due to stable growth in the aviation sector [4] Group 2: Shareholder Returns - The company plans to distribute no less than 45% of the distributable profits in cash each year from 2023 to 2025, in line with profit distribution principles [1] - Currently, there are no plans for stock buybacks, but the company will comply with legal disclosure obligations if such plans arise in the future [1][2] Group 3: Operational Strategies - Shenzhen Airport is expanding its international passenger routes, having restored and added 12 international routes in 2024, with weekly international flights exceeding 800, recovering to 90% of 2019 levels [3][5] - The company aims to enhance asset utilization and increase operating income by improving passenger throughput and expanding international routes [2][4] Group 4: Risk Management - As of the end of Q3 2024, accounts receivable amounted to 935 million CNY, with a turnover rate of 3.9, indicating low recovery risk [2][3] - The company has established a collection mechanism and evaluates customer repayment capabilities regularly to mitigate overdue accounts [3] Group 5: Future Outlook - Shenzhen Airport plans to strengthen its market position by optimizing resource allocation and enhancing service offerings to improve competitiveness [4][5] - The company is exploring cooperation opportunities in smart equipment development and low-altitude economy sectors to expand its business [5]