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Public company info - Beijing Capital International Airport Co. Ltd. - H Shares , 00694.HK
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Beijing Capital International Airport Co. Ltd. - H Shares, 00694.HK - Company Profile
Chairman Wang Changyi
Share Issued (share) 1,879,000,000
Par Currency Renminbi
Par Value 1.0
Industry Airline Services
Corporate Profile Business Summary: The Company is principally engaged in the ownership and operation of the international airport in Beijing (“Beijing Capital Airport”) and the provision of related services. Performance for the year: In 2020, the revenues of the Company from principal operations were RMB3,587,136,000, representing a decrease of 66.8% as compared with the previous year. Business Review Overview of Aeronautical Business In 2020, as affected by the COVID-19 outbreak and transfer of certain flights, the air traffic volumes of Beijing Capital Airport have been hit hard. During the year, the cumulative aircraft movements in Beijing Capital Airport reached 291,498 sorties, representing a decrease of 51.0% as compared with the previous year. The cumulative passenger throughput reached 34,513,827 person-times, representing a decrease of 65.5% as compared with the previous year. The cumulative cargo and mail throughput reached 1,210,441 tonnes, representing a decrease of 38.1% as compared with the previous year. In 2020, the total aeronautical revenues of the Company were RMB1,296,203,000, representing a decrease of 68.3% as compared with the previous year. In particular, the revenues from aircraft movement fees and related charges were RMB710,771,000, representing a decrease of 65.9% as compared with the previous year, which was primarily due to the impact of the decrease in business volume and the fact that pursuant to the relevant requirements of the Notice of CAAC on Policies Supporting Active Response to COVID-19 Outbreak (《民航局關於積極應對新冠肺炎疫情有關支持政策的通知》), the Company lowered the benchmark price of the charging standards for aircraft movement fees by 10% and waived the parking fees with effect from 23 January 2020 until the end of the COVID-19 outbreak. The revenues from passenger charges were RMB585,432,000, representing a decrease of 70.8% as compared with the previous year, which basically remained consistent with the decline in passenger throughput. Non-Aeronautical Revenues In 2020, the total non-aeronautical revenues of the Company were RMB2,290,933,000, representing a decrease of 65.9% as compared with the previous year. In 2020, the concession revenues of the Company were RMB1,352,444,000, representing a decrease of 74.0% as compared with the previous year. Among these, the revenues from advertising were RMB853,494,000, representing a decrease of 26.1% as compared with the previous year. This was mainly attributable to the fact that the Company waived the operating costs from certain advertisers after taking into account the impact of the COVID-19 outbreak and the adjustment of passengers processing procedures at terminals due to the pandemic, which resulted in the decline in the related revenue. The revenues from retailing were RMB194,944,000, representing a decrease of 94.6% as compared with the previous year, which was mainly attributable to a sharp decline in the related revenues as a result of the significant decrease in international passenger throughput as affected by the COVID-19 outbreak. The revenues from restaurants and food shops were RMB165,012,000, representing a decrease of 40.8% as compared with the previous year, which was mainly due to the rental waiver granted to certain tenants considering the impact of the COVID-19 outbreak and the fact that certain vacant restaurant resources had not yet attracted investment as affected by the COVID-19 outbreak. The revenues from VIP services were RMB51,768,000, representing a decrease of 36.1% as compared with the previous year. This was attributable to, on the one hand, the adjustment and reduction of operating areas due to the closure of certain premises resources for renovation and upgrade, which led to a corresponding decrease in revenue, and on the other hand, the waiver for related fees granted by the Company in proportion to the decline in business volume as affected by the COVID-19 outbreak. The revenues from car parking services were RMB39,903,000, representing an increase of 100.0% as compared with the previous year, which was mainly due to the fact that since 1 January 2020, the Company has transferred the operation rights of most car parking areas including the Ground Traffic Centre (the “GTC”) pursuant to the Agreement for Transferring Operation Rights of Car Parking Buildings (Spaces) of Beijing Capital Airport (《北京首都機場停車樓 （場）經營權轉讓合同》), resulting in an increase in revenues from car parking services. No revenue from ground handling services was recorded during the year, which was mainly due to the fact that new contracts had not yet been executed as a result of the changes in the external environment. The revenues from other concessions were RMB47,323,000, representing a decrease of 6.1% as compared with the previous year. In 2020, the rental revenues of the Company were RMB914,707,000, representing a decrease of 31.3% as compared with the previous year, which was mainly due to the grant of rental waivers by the Company to certain tenants as affected by the COVID-19 outbreak and the transfer and diversion of flights to Beijing Daxing International Airport (“Daxing Airport”), as well as a significant decline in aircraft movements and passenger throughput, leading to a decrease in the rentals of relevant equipment, system and commercial premises. In 2020, the car-parking fees of the Company were RMB5,524,000, representing a decrease of 96.6% as compared with the previous year, which was mainly due to the fact that the Company has transferred the operation rights of car parking areas and only retained a small portion of areas for self-operation, hence leading to a significant decrease in car-parking fees. In 2020, other revenues of the Company were RMB18,258,000, representing a decrease of 22.1% as compared with the previous year, which was mainly due to the adjustment to the scopes of business of certain contracts as a result of the COVID-19 outbreak. Prospects: In 2020, the world’s economy was hard hit by the COVID-19 outbreak. Amidst unprecedented complexity, the recovery of global economic growth remained sluggish, and the rebound of the civil aviation industry faced headwinds in general. Nonetheless, China adopted decisive measures to contain the pandemic and its national economy became the first to return to positive growth, which led to the steady improvement of the domestic civil aviation market. Despite the impact of the pandemic, Beijing Capital Airport successfully prevented the importation of COVID-19 cases under immense pressure during this period. It fulfilled its responsibility in pandemic prevention and control as “China’s First Gateway” with the most stringent measures, the highest standards and the greatest efforts. In 2020, the Civil Aviation Administration of China advanced the plan for flight transfer and the operation of Daxing Airport. As more flight capacity was allocated to Daxing Airport gradually, Beijing has entered the era of “dual-hub”. As affected by the COVID-19 outbreak and the “one city, two airports” diversion, the business volume of Beijing Capital Airport declined significantly, imposing great pressure and challenges on the operational efficiency of the Company. As shown by preliminary statistics, for the first two months of 2021, Beijing Capital Airport’s aircraft movements have decreased by 39.5% as compared with the previous year, of which domestic routes (including Hong Kong, Macau and Taiwan) decreased by 30.8% and international routes decreased by 70.2% as compared with the previous year. Its passenger throughput has decreased by 63.4% as compared with the previous year, of which domestic passenger throughput (including Hong Kong, Macau and Taiwan) decreased by 50.3% and international passenger throughput decreased by 99.0% as compared with the previous year. As the prospects for the resumption of international travel are not yet optimistic, the pace of recovery for the international business volume of Beijing Capital Airport remains uncertain for a certain period of time in the future. Thus, the operational efficiency of the Company will continue to be under great pressure in 2021. In view of this, the Company will move on to a new phase of development and pursue new development philosophy. By precisely grasping the latest trend and proactively responding to changes in the external environment, it will keep abreast of time and take the initiative to create the new development pattern. In line with the new development pattern that “takes the domestic market as the mainstay while enabling the domestic and foreign markets to boost each other”, the Company will actively support the flight schedule allocation policy of the Civil Aviation Administration of China in 2021. It will tap into the potential of the domestic market and seize the opportunities as China eases its flight restrictions, with the aim of increasing the frequency of flights for core domestic routes at Beijing Capital Airport and promoting the recovery of the aviation industry. The Company will continue to conduct research on inter-airline flights and differentiated aviation products. It will also trace the development of the international market by monitoring the resumption of direct passenger flights to overseas destinations. In addition, it will continuously strengthen the communication and collaboration with airline partners at Beijing Capital Airport, constantly optimize the structure of the route network and proactively enhance the security capacity at East and West Zones at the same pace. In 2021, the Company will capitalize on the changes in the market to accelerate the upgrade and renovation of facilities and equipment, promote the application of new technology, strengthen the empowerment of new infrastructure and boost operational efficiency. In support of the hub construction and development of Beijing Capital Airport, it will induce and create new demand with high-quality offerings. Meanwhile, in terms of relieving operating pressure, it will proactively explore ways to increase revenue and efficiency, reduce expenses and costs, and improve operating quality, so as to counter the impact of the COVID-19 outbreak. In order to drive commercial vibrancy and potential revenue, it will also develop new business models and enhance marketing efforts, thereby maximizing the value of resources and creating new sources of revenue growth for the airport business. In 2021, the Company will take into account the overall business plan of Beijing Capital Airport to explore and optimize the response mechanism against the COVID-19 outbreak in different operational scenarios. With the support of technology, it will design a public health protection system for the airport that safeguards the national gateway and serves the world, so as to enhance its ability to respond to sudden public health emergencies. The Company has always attached great importance to safety-first, sustainable development, technology innovation and sincere services. It aims to continuously improve corporate management and governance, promote the development of the safe, green, intelligent and humanistic airport and strives to achieve industry-leading safety performance, maintaining its flight on-time ratio at a high level and raising its service quality to new heights. Looking back to 2020, Beijing Capital Airport faced unprecedented operational challenges as it recorded a significant decline in passenger throughput and incurred a loss in financial results due to the COVID-19 outbreak and the transfer of flights. The Company would like to express its sincere gratitude to all shareholders for their understanding and trust, as well as to various government departments, airlines and partners at Beijing Capital Airport for their tremendous support to us. The Group would also like to thank all of The Group’s employees for their diligent contribution throughout the year. In the future, the Company will actively cope with challenges and pressure while pursuing innovation and changes. It will strive to create new prospects and seek breakthroughs to achieve high-quality growth.

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