Company Study of Shanghai Airport Authority

2007

Publication Date	June 2007
Publisher	Research in China
Product Type	Report
Pages	16
ISBN Number	not applicable
Product Code	RIC00144

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Summary

The assets of Shanghai Airport Authority is mainly comprised of the 1st-stage project of Hongqiao International Airport, 51% stock rights of freight transport station of Pudong International Airport, the income of airport tax reimbursement, advertisement companies and stock rights of aviation food companies, etc.

In 2006, there were 177,600 arrival-departure flights in Hongqiao International Airport with a passenger throughput of 19.22 million person-times. The operating revenue of the airport was about RMB 1.1 billion to RMB 1.2 billion, Net profit RMB 500 million to RMB 600 million. The earnings of freight transport station of Pudong International Airport amounted to RMB 1.012 billion, net profits RMB 627 million and, the net profit margin was up to 61.9%. The income of airport tax reimbursement reached RMB 650 million, and the figure will rise to RMB 730 million, RMB 830 million and RMB 910 million respectively in 2007, 2008 and 2009.

The non-aviation business of Shanghai Airport has great potentials, but it now only contributes 30% to business income. After the overall listing in the future, the utilized area for commercial purpose will be five times or above and, the earnings will be tripled then.

Content

1 Overall Listing Will Greatly Improve Corporate Achievements
- 1.1 Overall Listing
- 1.2 Assets of the Group
  - 1.2.1 Hongqiao International Airport
  - 1.2.2 Freight Transport Station of Pudong International Airport
  - 1.2.3 Airport Tax Reimbursement
  - 1.2.4 Related Transaction Fees Charged by Shanghai Airport Authority on Shareholding Companies
- 1.3 Prospect of Shanghai Airport Authority after Being Listed
- 1.4 Growing Achievements after Overall Listing
2 The Most Monopoly of Shanghai Airport on Airport Business
- 2.1 High Occupied Rate of Foreign Flights of Shanghai Airport Authority, with Great Strength of Aviation Pillar Business
- 2.2 Greatest Potentials of Freight Transport Business
- 2.3 Monopolized Business
3 Potentials for the Rise of Profits from Non-flight Business of Shanghai Airport Authority
- 3.1 Small Proportion for Non-flight Business of Shanghai Airport Authority
- 3.2 Frankfurt International Airport: Low Growth for Passenger Flux, High Growth for Profits
- 3.3 Hong Kong International Airport: Franchise Operation Conduces to Fast Growing Achievements
- 3.4 Great Potential of Non-flight Business of Shanghai Airport Authority
4 Flight Business of the Company is Undergoing a Favorable Turn