Airport high-tech park faces losses, plans AGM

Beijing Airport High-Tech Park (SSE:600463) will hold its 2024 AGM in May 2025, with key agenda items addressing a reported net loss attributable to shareholders of CNY 96.23 million. The proposed agenda includes reviewing the 2024 annual report, directorate and supervisory board reports, financial statements, and a profit distribution plan. A significant component of the AGM will be the discussion and approval of a provision for impairment losses on long-term equity investments totaling CNY 175 million, primarily related to its subsidiary, Tianyuan Construction. This impairment reflects challenging market conditions and decreased profitability in the construction sector. Despite revenue of CNY 481.78 million, a 6.73% year-over-year decrease, and various strategic initiatives, Tianyuan Construction's performance significantly impacted the overall financial results. No dividend will be distributed.