Shanghai International Airport (600009) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 5.92% YoY to RMB 3.560B; net profit attributable to shareholders increased 9.83% to RMB 647.8M, supported by higher aviation business volume at the Shanghai airports and investment income.

• 9M revenue grew 3.59% to RMB 10.062B and attributable net profit rose 14.06% to RMB 1.864B; operating cash flow declined 7.81% to RMB 3.859B.

Financial highlights

• Q3 profit before tax was RMB 924.0M, up 9.72% YoY; net profit excluding non-recurring items was RMB 619.3M, up 6.41%.

• 9M profit before tax was RMB 2.631B, up 13.79%; net profit excluding non-recurring items was RMB 1.742B, up 8.27%.

• 9M total non-recurring gains were RMB 121.8M, including fair-value and disposal gains, government grants, and other items.

Segment performance

• Q3 advertising contract revenue was RMB 180M under the advertising operating-rights arrangement with Shanghai Airport De Gao Momentum Advertising.

• Q3 duty-free contract revenue was RMB 286M under the Pudong and Hongqiao airport duty-free operating-rights contracts.