Shanghai Airport adjusts capital, transfers assets for expansion

Shanghai International Airport (SSE:600009) has reduced its registered capital from yuan 2,488,481,340 to yuan 2,488,313,040, following the cancellation of restricted shares. This change, approved by the board, necessitated an amendment to the company's Articles of Association.

Concurrently, the company is divesting assets to Shanghai Airport (Group) Co., Ltd. This includes the transfer of a portion of the Pudong Airport Phase III expansion rapid transit system assets, valued at yuan 161,319,898.10, with a book value of yuan 156,802,842.98. Additionally, the company is transferring state-owned land use rights and facilities, receiving a total compensation of yuan 495,629,334 from Shanghai Airport (Group) Co., Ltd. and Shanghai Pudong Housing Expropriation Service Co., Ltd. The book value for these land and facility assets is yuan 33,207,210.65.

These transactions, all classified as connected transactions requiring shareholder approval, are aimed at optimising the company's capital structure and supporting the Pudong Airport Phase IV expansion project, enhancing operational efficiency and infrastructure.