Shanghai airport's 2024 profit surges, exceeding expectations

Shanghai International Airport (SSE:600009) announced its preliminary financial results for 2024, projecting a 11.97% increase in total revenue, reaching 1,236.88 million yuan. Net profit attributable to shareholders soared by 107.05% to 193.39 million yuan. This performance was attributed to Shanghai's aviation market recovery, with passenger throughput exceeding 124 million and cargo throughput surpassing 4.2 million tons, surpassing pre-pandemic levels. The company highlighted effective cost control, compensation from property acquisitions, and solid investment returns as contributing factors. The company's earnings per share rose to 0.78 yuan. Shareholders' equity increased to 4,165.36 million yuan, resulting in a net asset value per share of 16.74 yuan. Investors are advised to note that these figures are preliminary and subject to final audit.