Shanghai International Airport to divest assets for Pudong Airport Phase IV expansion

Shanghai International Airport Co., Ltd. is preparing for its first extraordinary general meeting of shareholders in 2025 to approve two key transactions aimed at advancing the Pudong Airport Phase IV expansion. The first proposal involves transferring assets related to the Pudong Airport Phase III expansion's automated people mover (APM) system to the Airport Group, a controlling shareholder. The net book value of these assets is 156,802,842.98 yuan, with a proposed transfer price of 161,319,898.10 yuan (excluding tax). Including value-added tax, the total transfer price amounts to 176,076,919.16 yuan. The assets are primarily being transferred for demolition to accommodate the new Phase IV construction.

The second agenda item concerns the signing of an agreement for the recovery of state-owned land use rights and facility compensation. This involves 146,419.40 square meters of land and associated facilities, including an apron, that fall within the Pudong Airport Phase IV expansion project area. The total compensation from the Airport Group and Pudong District Housing Expropriation Service Administration Co., Ltd. is proposed to be 495,629,334 yuan. This amount comprises 387,132,894 yuan for land compensation and 108,496,440 yuan for ancillary facilities. Both transactions are considered related party transactions and are expected to have a positive impact on the company's current financial situation and operating results.