Guangzhou Baiyun Airport subsidiary receives arbitration awards

Guangzhou Baiyun International Airport Co., Ltd. (SSE:600004) announced that its wholly-owned subsidiary, Guangzhou Baiyun International Airport Terminal 2 Co., Ltd., received two arbitration awards from the Guangzhou Arbitration Commission related to a contract dispute with Beijing Wozhe Culture Media Co., Ltd. The arbitration found in favor of the airport subsidiary, ordering Beijing Wozhe to pay advertising operation transfer fees of CNY 12,836,120.21 plus overdue interest and compensate for vacancy losses of CNY 159,505,315. In a separate counterclaim, Beijing Wozhe was ordered to cover a portion of the arbitration fees. The awards are final and effective immediately. The company will account for the awards according to accounting standards, with the impact on profits to be determined by auditors.