Shanghai Airport secures 495.6m yuan compensation for land recovery

Shanghai International Airport Co., Ltd. has entered into an agreement to receive 495,629,334 yuan in compensation for the recovery of state-owned land use rights and associated facilities. The transaction, classified as a related-party transaction, involves Shanghai Airport (Group) Co., Ltd. and Shanghai Pudong Housing Expropriation Service Co., Ltd. The compensation covers 146,419.40 square meters of land and one apron.

This recovery is part of the Pudong Airport Phase IV expansion project, aiming to enhance infrastructure and operational capacity. The company acquired the asset on December 12, 2005, and its book value as of June 30, 2025, was 3,320.72 yuan (net of depreciation/amortization of 6,409.43 yuan), resulting in an appraisal premium of 1392.54%.

The agreement stipulates payment in installments: 20% within twenty working days of the agreement's effective date, 60% within two months after asset transfer, and the final 20% within two months after property certificate changes. The transaction has been approved by the board of directors and requires shareholder approval, with the Airport Group abstaining from voting. The company anticipates no immediate adverse impact on its current financial status or operating results, with a positive influence expected on future financial performance.