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Guangzhou Baiyun International Airport Company (600004) investor relations material
Guangzhou Baiyun International Airport Company Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
9M revenue rose 8.78% YoY, while profit declined as operating costs increased following the start of operations at Terminal 3 and other Phase III expansion projects.
Total assets reached RMB 29.82bn at quarter-end, up 0.49% from year-end 2025; equity attributable to shareholders was RMB 20.97bn, down 0.28%.
Financial highlights
Q3 revenue was RMB 2.138bn, up 8.45% YoY; attributable net income was RMB 264.2m, down 23.59%.
9M revenue was RMB 6.197bn, up 8.78%; total profit was RMB 900.9m, down 36.97%, and attributable net income was RMB 690.7m, down 36.96%.
Adjusted for non-recurring items, Q3 attributable net income was RMB 258.2m, down 12.04% YoY; 9M was RMB 667.4m, down 21.98%.
9M operating cash flow was RMB 2.228bn, down 19.34% YoY.
Key financial ratios and metrics
Basic and diluted EPS were RMB 0.10 for Q3, down 33.33% YoY, and RMB 0.27 for 9M, down 41.30%.
Weighted average ROE was 1.18% for Q3, down 0.64 percentage points, and 3.20% for 9M, down 2.64 percentage points YoY.
- Revenue up 8.95% but net profit down 43.13% as new terminal costs weigh on earnings.600004
Q2 2026 - Net profit surged 58.60% year-over-year on strong operations and major expansion completion.600004
H2 2025 - Revenue up 8.54% but net profit down 43.32% year-over-year due to new asset costs.600004
Q1 2026 - Net profit surged 64% year-over-year on higher revenue and non-recurring gains.600004
Q3 2025 - Net profit surged 71% on strong passenger growth, cost control, and one-time gains.600004
H1 2025 - Q3 2024 saw revenue and net profit nearly double year-over-year, signaling strong operational recovery.600004
Q3 2024 - Net profit jumped 177% on 20% revenue growth, with robust recovery in passenger and cargo traffic.600004
H1 2024 - Record passenger and cargo growth fueled a 109% profit jump and strong cash flow.600004
H2 2024 - Net profit jumped 57.71% in Q1 2025 on strong revenue and subsidy gains.600004
Q1 2025
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