Hainan Airport Infrastructure (600515) investor relations material

Executive summary

• Revenue rose 30.36% year-over-year to RMB 3.01 billion, driven by the consolidation of Meilan Airport and new terminal operations.

• Net profit attributable to shareholders was RMB 119 million, down 6.95% year-over-year; adjusted net profit (excluding non-recurring items) fell 41.97%.

• Operating cash flow turned positive at RMB 283 million, compared to a significant outflow last year.

• The company continued to expand its airport, commercial, real estate, and property management businesses, leveraging Hainan Free Trade Port policy advantages.

Financial highlights

• Operating income: RMB 3.01 billion (+30.36% YoY); operating cost: RMB 2.32 billion (+61.73% YoY).

• Net profit: RMB 119 million (-6.95% YoY); adjusted net profit: RMB 35 million (-41.97% YoY).

• Basic and diluted EPS: RMB 0.0104 (-7.14% YoY).

• Gross margin declined due to higher costs from new terminal operations and consolidation.

• Net assets attributable to shareholders: RMB 24.14 billion (+2.45% from year-end).

• Total assets: RMB 60.69 billion (+1.62% from year-end).

Outlook and guidance

• The company expects continued benefit from Hainan Free Trade Port policies, including expanded international routes, duty-free upgrades, and logistics growth.

• Focus remains on high-quality development, leveraging policy, management, and multi-business synergies.