Hainan Airport Infrastructure (600515) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 reached RMB 1.74 billion, up 59.87% year-over-year, mainly due to the consolidation of Meilan Airport.

• Net profit attributable to shareholders was RMB 112.46 million, a 12.02% increase year-over-year.

• Operating cash flow improved significantly, with a net outflow of RMB 66.51 million versus an outflow of RMB 881.35 million in Q1 2025.

Financial highlights

• Total assets at quarter-end were RMB 60.90 billion, up 1.98% from year-end 2025.

• Shareholders’ equity rose 2.91% to RMB 24.25 billion.

• Basic and diluted EPS were both RMB 0.0098, up from RMB 0.0088 in Q1 2025.

• Gross margin improved as revenue growth outpaced cost increases.

Outlook and guidance

• Revenue growth is expected to continue, driven by the integration of Meilan Airport and increased operating scale.