Hainan Meilan International Airport Company Limited(00357.HK) Announces 2024 Interim Results: Revenue of RMB 1.149 Billion and Resolution of Arbitration Matters

HAIKOU, China, Sept. 1, 2024 /PRNewswire/ -- Recently, Hainan Meilan International Airport Company Limited (stock code: 00357.HK,the "Meilan Airport" or the "Company")released its interim results for 2024. As of June 30, 2024, the Company reported total assets of RMB 10.735 billion, total liabilities of RMB 6.754 billion, and net assets attributable to shareholders of the listed company of RMB 4.025 billion. The asset-liability ratio stood at 62.91%, maintaining a relatively reasonable level. For the first half of 2024, the Company achieved revenue of RMB 1.149 billion, with aviation business revenue reaching RMB 604 million, representing a year-on-year increase of 22.09%. Production operations continued to exhibit a strong and steady growth trend.

In terms of net profit, net profit attributable to shareholders of listed companies in the first half of 2024 amounted to a loss of RMB 248 million. This loss was primarily due to the arbitration settlement with Aero Infrastructure Holding Company Limited, which required the Company to make a compensation payment of approximately RMB 273 million. The full provision for this amount resulted in the interim net loss. However, excluding the impact of the arbitration compensation, the Company effectively recorded a net profit attributable to shareholders of around RMB 25 million. The arbitration outcome, which significantly reduced the originally claimed amount of RMB 2.7 billion, represents a more favorable result than initially anticipated.

In terms of core airport operations, Meilan Airport handled a total of 98,900 aircraft movements, transported 14.4937 million passengers, and achieved cargo and mail throughput of 116,400 tons in the first half of 2024. These figures represent year-on-year increases of 15.89%, 20.3%, and 25.01%, respectively, with all operational metrics reaching historical highs for the same period. In 2024, to meet the increasingly diverse travel demands, Meilan Airport has been optimizing its route network. As of June 30, 2024, the airport operated 34 international and regional passenger routes, covering 21 key cities across Southeast Asia, Northeast Asia, Australia, and Europe. Additionally, the airport launched three fifth-freedom cargo routes: Incheon-Haikou-Singapore, Haikou-Vienna-Bournemouth, and Haikou-Paris-Bournemouth. These expansions are aimed at broadening the international network and establishing Meilan Airport as a key regional hub in the Pacific and Indian Oceans.

Regarding brand development, in the first half of 2024, Meilan Airport was honored with "Excellent Airport in Service Quality above 10 Million Passengers" and "Excellent Airport in Comprehensive Service above 20 Million Passengers" in the "Civil Airport Service Quality Evaluation Report of 2023" and Civil Aviation Passenger Satisfaction Index of 2023 released by domestic civil aviation authorities. Internationally, Meilan Airport achieved significant recognition by winning the SKYTRAX "Global Five-Star Airport," "Best Regional Airport in China," and "Best Airport Staff in China" awards. These accolades underscore the airport's world-leading standards in service innovation and quality, enhancing its industry influence and global reputation.

Looking ahead, Meilan Airport will anchor its strategic positioning and goal of becoming an aviation regional gateway hub for the Pacific and Indian Oceans. The Company will continue to advance its timetable expansion and Phase III expansion preparations, focus on expanding both domestic and international route networks, proactively explore non-aeronautical revenue growth opportunities, accelerate the development of new quality civil aviation services, and strive to establish a benchmark in domestic civil aviation service and a world-class service brand. These efforts are designed to contribute to the high-quality development of the Hainan Free Trade Port and deliver exceptional performance to its investors.