白云机场: 广州白云国际机场股份有限公司2025年度环境、社会及治理(ESG)报告英文

来源:证券之星 2026-04-30 04:06:27
关注证券之星官方微博:
                                       “Cloud” Governance · Steadfast Progress,
                                                Leading with Standards                                                                          10
                                       Adhering to the Leadership of the Party
                                               Enhancing ESG Management
                                               Deepening Corporate Governance
                                                                                          ??
                                                                                          ??
                                                                                                        Enhancing Compliance Management
                                                                                                        Capabilities
                                                                                                        Enhancing Internal Control
                                                                                                                                                 ??
                                                                                                                                                 ??
                                                                                          ??
                                                                                                        Building a Corruption-Free Airport       ??
Chairman's Statement                    ??     Investor Communication and Protection ??
About Baiyun Airport                    ??
Company Overview                        ??
Organizational Structure                ??
Core Corporate Culture and Philosophy   ??   “Cloud” Environmental · Green Airport,
Corporate Strategy                      ??   Advancing Low-Carbon Coexistence                                                                   36
Performance of Baiyun Airport           ??
                                             Climate Change Response                     ??    Strengthening Pollution Prevention and Control   ??
Corporate Honors                        ??   Optimizing Resource Utilization             ??    Advancing Ecological Governance                  ??
                                             Environmental Compliance Management         ??    Promoting Green Awareness                        ??
                                             “Cloud” Social · Empowering Connectivity,
                                             Advancing Responsibility                                                                           58
ESG Key Performance Indicators          ??   Strengthening Hub E?ciency             ??         Protecting Customer Privacy                      ??
ESG Issues Index Table                  ??   Safeguarding Safe Travel               ??         Protecting Employee Rights and Interests         ??
                                             Cultivating Service Excellence         ??         Standardizing Supply Chain Management            ??
About This Report                       ??
                                             Stimulating Innovation Vitality        ??         Practicing Social Responsibility                 ??
                                             Emphasizing Technology Ethics          ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             About Baiyun Airport
About Baiyun Airport                                                                                                                          Organizational Structure
                                                                                                                                                                                                                                                                                                                                                       Guangzhou Baiyun International Airport Co., Ltd.
Company Overview
Guangzhou Baiyun International Airport Co.,Ltd. (hereinafter referred to as "the Company") is a key listed enterprise under Guang-
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                                                                                                                                                                                                                                                                                                                                                                          Legal and Board A?airs Department
dong Airport Authority, established on September ??, ????, and listed on the Shanghai Stock Exchange on April ??, ????. The
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                                                                                                                                                                                                                                                                                                                                     Human Resources Department
                                                                                                                                                                                                                                                                                                                                                                                                                   (News Center, Trade Union O?ce)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       Planning and Development
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       Service Quality Department
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              Construction Management
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      Discipline Inspection O?ce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          Information Technology
                                                                                                                                                                                                                                                                                                                                                                              (Board Secretary’s O?ce)
company is the management and operation entity of Guangzhou Baiyun International Airport (hereinafter referred to as “Baiyun
                                                                                                                                                                                                                                                                                  Finance Department
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              Business Management
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               Marketing Department
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      Audit and Supervisory
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   (Security Department)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        Work Department
Airport”). Using Baiyun Airport as its business carrier, it primarily engages in aviation service such as aircraft takeo? and landing,
                                                                                                                                                                                                                                   General O?ce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              Department
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Department
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Department
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                Department
passenger comprehensive services, security check, and ground support, as well as aviation-related extended services such as
commercial site leasing, franchising, ground transportation, advertising and hotel services.
Baiyun Airport is one of the three China’s designated all-around gateway international aviation hubs, playing a pivotal role in the
national “Belt and Road Initiative” and the “Air Silk Road”. Since its seamless overnight relocation to full operations in August
????, Baiyun Airport has achieved rapid business growth, continuously enhancing its infrastructure and advancing its internation-
al hub construction. In January ????, the fourth runway of Baiyun Airport was o?cially put into use. In October, the T? terminal
and the ?fth runway were o?cially put into operation, making Baiyun Airport the ?rst airport in China's civil aviation to operate
?ve commercial runways. According to the plan, the terminal capacity of Baiyun Airport can accommodate ??? million passengers
                                                                                                                                                                                                                                                            Second Terminal Zone Management Branch of GBIAC
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Guangzhou Baiyun International Advertising Co., Ltd.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 Guangzhou Baiyun Airport Facility Management and
and ? million tons of cargo and mail. Both the passenger and cargo scales rank among the top in the world. In ????, Baiyun
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      Guangzhou Baiyun International Airport Konggang
                                                                                                                                                                                                                                                                                                                                                                                                                                          Security Inspection and Protection Department
                                                                                                                                                                                                                                                                                                              Public Area Management Branch of GBIAC
Airport's passenger throughput reached ??.?? million, making it into the "?? million passenger travel club" for the ?rst time. Its
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         Guangzhou baiyun International Airport Air
                                                                                                                                                                                                                 First Terminal Zone Management Co., Ltd.
                                                                                                                                                                                                                                                                                                                                                            On-site Inspection and Supervision Team
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        Guangzhou Baiyun International Airport
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Guangzhou Baiyun International Airport
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Guangzhou baiyun International Airport
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      Guangdong Airport Baiyun Information
                                                                                                                                           (Aviation Management Department)
cargo and mail throughput was ?.?? million tons, ranking among the top ten globally in both passenger and cargo scale. It has
                                                                                                                                            Airport Operations Control Center
                                                                                                                                                                                Airside Management Department
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               Ground Handling Service Co., Ltd.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       Air Catering Technology Co., Ltd.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Kuaixian Transportation Co., Ltd.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           Business Travel Service Co., Ltd.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         Power Support Branch of GBIAC
                                                                                                                                                                                                                                                                                                                                                                                                      Business Management Division
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          (Security Management Center)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Airportpass Business Division
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                Transport Service Co., Ltd.
been awarded ?rst place in ACI's global Airport Service Quality (ASQ) satisfaction ranking for six consecutive years, the "Best
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Fire Rescue Detachment
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Technology Co., Ltd.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               Operation Co., Ltd.
Airport in the Asia-Paci?c Region with Over ?? Million Passengers Per Year", it also received the "ACI Cleanest Airport Award in the
Asia-Paci?c Region" the second consecutive year. It has been awarded the title of "Outstanding Airport in Service Quality" at the
level of over ?? million passengers by the Civil Aviation Passenger Service Evaluation (CAPSE). The Guangzhou Baiyun Internation-
al Airprot CAN Hub Operation Management Center was awarded the "?th Guangdong Provincial Government Quality Award".
Leveraging the strategic positioning of the Guangdong?Hong Kong?Macao Greater Bay Area as “one point, two places” and the
strong momentum of Guangdong’s high-level opening-up, Baiyun Airport has essentially established a multidimensional route
network that connects the Greater Bay Area, radiates across the nation, and links to the world.
In the future, Baiyun Airport will leverage its new operational framework and the strategic empowerment of the Guangdong-Hong
Kong-Macao Greater Bay Area to accelerate its development into a world-class airport, injecting stronger aviation momentum into
                                                                                                                                              Core Corporate Culture and Philosophy
the "??th Five-Year Plan" and regional economic development.
                                                                                                                                                                                                                Con?dent and
                                                                                                                                                                                                                Responsible - CAN                                                                                                                                                                                                                                                            irit                                                                                                                                                                                Sailing from Baiyun,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      Sp                                                                                                                                                                                         Reaching out to the world
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Mis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     sio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         n
                                                                                                                                                                                                                                                                                                                                                                                                               lue
                                                                                                                                                                                                                                                                                                                                                                                                             Va
                                                                                                                                                                                                                                                                                                                                                                                                                               ore
                                                                                                                                         Customer First, Safety and                                                                                                                                                                                                                                                                                                                                                                              Visi
                                                                                                                                                                                                                                                                                                                                                                                                                                     C
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  on
                                                                                                                                         E?ciency, Pursuing Excellence,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      Humanistic and Smart Baiyun,
                                                                                                                                         Achieving Win-Win Harmony                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           Creating a World-class Airport
??                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                   About Baiyun Airport
Corporate Strategy
Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, the Company fully implements the spirit of the
??th National Congress of the Communist Party of China, the plenary sessions of the ??th Central Committee and the Central
Economic Work Conference. It thoroughly studies and implements the series of important speeches and instructions of General
Secretary Xi Jinping on Guangdong, civil aviation, and state-owned enterprises, and earnestly ful?lls the overall requirements set
forth by the provincial Party committee plenary sessions and the National Civil Aviation Work Conference. The Company continues
to advance the “????” initiative, fully applies the new development philosophy, and focuses on promoting high-quality develop-
ment. Adhering to the general principle of pursuing progress while maintaining stability, the Company better coordinates develop-
ment and safety, strengthens foundations, addresses weaknesses, and makes comprehensive e?orts to improve quality and e?cien-
cy. It is committed to winning the critical battle of enhancing hub operational e?ciency and implementing seven key initiatives:
safeguarding safety, improving e?ciency, strengthening the hub, enhancing quality, supporting operations, driving innovation, and
leading with Party building. These e?orts aim to accelerate the development of a world-class airport and achieve a strong start in the
"??th Five-Year Plan".
                                                                                                                                         Seven Key Initiatives
 “????”Strategic Plan
           “?”? Focusing on One Goal
             To build Baiyun Airport into a world-class airport and the Company into a world-class leading specialized
             enterprise.
           “?”? Continuously Strengthening Four Core Capabilities                                                                                        Safety Escort
             Hub competitiveness, brand in?uence, system innovation capability, and platform collaboration                                                                          Business Growth Support
             capability.                                                                                                                                 E?ciency Enhancement for
                                                                                                                                                         Aviation Operations
           “??”? Striving to Achieve Ten Breakthroughs                                                                                                                              Innovation-driven Advancement
                                                                                                                                                         Hub Strengthening
               Strengthening Party building as a driver of development;         Enhancing hub service quality;
                                                                                                                                                                                    Party Building Leadership
               Coordinating development and safety;                             Increasing hub revenue contribution;
                                                                                                                                                         Quality Leadership
               Expanding hub scale;                                             Elevating hub brand value;
               Optimizing the hub network structure;                            Deepening reform and innovation;
               Improving hub operational e?ciency;                              Advancing harmony and shared development.
??                                                                                                                                                                                                                          ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                      Performance of Baiyun Airport/Corporate Honors
Performance of Baiyun Airport                                                                                Corporate Honors
                                                                                                              Awarding Institution                            Honor
                                                                                                                                                              Ranked ?rst in ACI's global Airport Service Quality (ASQ) satisfac-
                                                                                                              Airports Council International(ACI)             tion rankings for the sixth consecutive year.
      Operation Revenue                     Passenger Throughput              Safety Investment
                                                                                                             National Computer Network Emergency Response
                                                                                                                                                              Awarded the title of “Outstanding Critical Infrastructure Unit” in
                                                                                                             Technical Team/Coordination Center of China
                                                                                                             (CNCERT/CC)
                                                                                                                                                              the attack and defense drill activity
                                                                                                                                                              Won the ?rst place in the comprehensive evaluation of the
                                                                                                             Civil Aviation Administration of China (CAAC)    construction of smart civil aviation among airports with an
                                            Cargo and Mail Throughput         R&D Investment                                                                  annual throughput of over ?? million across the country in ????.
      Net Pro?t
                                                                                                                                                              Two employees (Dai Hongyong and Zhou Zhiyan) were awarded
                                                                                                             Civil Aviation Administration of China (CAAC)
                                                                                                                                                              the "Blue Sky Medal" by CAAC in ????.
                                                                                                                                                              Won the Bronze Award at the Second “Youth Innovators Win”
                                                                                                             National Civil Aviation Youth League Committee
                                            Aircraft Movements                                                                                                Civil Aviation Youth Innovation and E?ciency Competition.
                                                                              Environmental Protection       The Communist Party of Guangdong Provincial      The Fifth Security Inspection Team (formerly the Second Security
      Total Assets
                                                                                                             Guangdong Province
                                                                                                                                                              Inspection Team) was awarded the title of “Advanced Collective of
                                                                                                                                                              Guangdong Province”
                                            Total Number of
                                                                     ?ights
                                                                                                                                                              The CAN Hub Operation Management Center of Baiyun Airport
                                                                                                                                                              received the ?th Guangdong Provincial Government Quality Award
                                            Destinations                                                     General O?ce of the CPC Guangdong Provincial     Awarded the title of “Outstanding Collective” for its performance in the
                                                                              Airportpass Membership
                                                                                                             Committee and General O?ce of the People’s       preparation for the ??th National Games and the ??th National Games for
                                                                                                             Government of Guangdong Province
                                                                                                             China Association for Public Companies (CAPCO)
                                                                                                                                                              Persons with Disabilities and the ?th National Special Olympic Games
                                                                                                                                                              Recognized as a "Best Practice Case for Listed Company Boards in
                                                                                                                                                              ????."
                                             Opened, Restored and Increased
                                             Frequency of International and                                                                                   Received the First Prize (Excellent Level) in the Speech and Essay
                                             regional Routes                                                 China Association for Quality (CAQ)              Categories of the ??th National Brand Story Competition (Guang-
                                                                                                                                                              zhou Division) and the ??th Guangdong Brand Story Competition
                                                                                                                                                              The project      
   


 

                                                                                                                                                               



 
won the Third Prize of the Civil Aviation
                                            New Passenger Transport                                                                                           Science and Technology Award of CATA in ????
                                            Destinations                                                                                                      The project 

 

                                                                                                             China Air Transport Association (CATA)           



  
 won the Third Prize
                                                                                                                                                              of the Civil Aviation Science and Technology Award of CATA in ????
                                                                                                                                                              Received the Third Prize in the Speech and Essay Categories of the
                                                                                                                                                              ??th National Brand Story Competition
                                                                                                                                                              Rated "A" in the ????????? stock exchange information disclosure
                                                                                                             Shanghai Stock Exchange
                                                                                                                                                              assessment
                                                                                                                                                              Received the "Golden Bull Award for Listed Companies (Golden
                                                                                                             China Securities Journal                         Information Disclosure Award)"
                                                                                                                                                              Received the "???? Corporate Governance Award" under the “Shang-
                                                                                                             Shanghai Securities News                         hai Securities News Eagle · Golden Quality” awards.
                                                                                                                                                              Received the "Industry Leading Enterprise Award" under the "Golden
                                                                                                             Securities Daily
                                                                                                                                                              Horse Awards".
??                                                                                                                                                                                                                                            ??
                                                         “Cloud”Governance
                                                         Steadfast Progress,
                                                         Leading with Standards
                                                         Governance and compliance form the foundation of the company's
                                                         sustainable development. We continuously improve our corporate
                                                         governance mechanism, e?ectively safeguard shareholders' rights and
                                                         interests, establish and improve a compliance management system,
                                                         constantly strengthen internal control and risk management. While
                                                         ensuring steady growth, we remain committed to innovation, strength-
                                                         ening anti-corruption measures, and striving to create long-term value
                                                         for stakeholders.
     Adhering to the Leadership of the Party        11
     Enhancing ESG Management                       12
     Deepening Corporate Governance                 19                 Key Issues
     Investor Communication and Protection          21             Sound Corporate Governance, Stakeholder Engage-
                                                                   ment, Compliance Operations, Due Diligence,
     Enhancing Compliance Management Capabilities   23             Anti-Bribery and Anti-Corruption, Anti-Unfair Compe-
                                                                   tition, Fair Treatment of SMEs.
     Enhancing Internal Control                     28
     Building a Corruption-Free Airport             32
                                                                      Contribution to the United Nations 2030
                                                                      Sustainable Development Goals (SDGs)
??                                                                                                                                ??
  ???? Environmental, Social and Governance(ESG) Report                                                                                                                                           Adhering to the Leadership of the Party / Enhancing ESG Management
Adhering to the Leadership of the Party                                                                                                        Enhancing ESG Management
Adhering to the leadership of the Communist Party of China (CPC) and strengthening Party building constitute the foundation and                We actively practice the concept of sustainable development, promoting an environmentally friendly, economically viable, and
guiding principle of state-owned enterprises. The company's Party committee fully implements the spirit of the ??th National                   socially responsible business model. The company continuously advances its e?orts in Environmental, Social, and Governance (ESG)
Congress of the CPC and the Fourth Plenary Session of the ??th CPC Central Committee, closely focusing on the theme of "promoting              management, enhances communication with stakeholders, conducts ESG issue research, and steadily improve ESG management
high-quality development through high-quality Party building", and takes the "Year of Deepening Integration" as the main line to               level and accountability practices to promote the high-quality and sustainable development of Baiyun Airport.
promote the in-depth integration of Party building and business operations, providing a strong political guarantee and organizational
support for the company's reform and development.
                                                                                                                                                 ESG Governance Structure
  Deepening Theoretical Learning and Consolidate the Ideological Foundation
                                                                                                                                               We place great importance on enhancing our sustainable management capabilities. The Board of Directors leads the company’s
Advancing the study and implementation of plenary session principles at a high standard. We have established ?? teams for deliver-             sustainable development initiatives and serves as the highest governing and decision-making body for sustainability matters. A
ing lectures on the spirit of the Fourth Plenary Session of the ??th CPC Central Committee, delivering a total of ??? thematic sessions.       dedicated sustainability information disclosure working group has been established, forming a structured organization that ensures
Experts were invited to provide in-depth interpretations of the plenary session. Through various methods such as theoretical                   deep participation from management, horizontal collaboration among specialized departments and all subsidiaries, and vertical
guidance and group discussions, we have formed a broad consensus on implementing the spirit of the guiding principles.                         alignment across all levels. An ESG report drafting team and an ESG execution team, which comprising professionals from di?erent
                                                                                                                                               departments and all subsidiaries, are responsible for implementing ESG initiatives comprehensively. ESG e?orts are integrated into
Strengthening study and education on the spirit of the Central Party Leadership’    s Eight-point Decision at a high standard. We have been    the daily operations of the Party Committee, Board of Directors, and executive management, embedding sustainability principles
actively promoting the study and education on the spirit of the Central Party Leadership’ s Eight-point Decision. Through the leadership-led   into every aspect of business operations.
learning sessions, ??? thematic Party lectures, and warning education, we have achieved full coverage of all sta?. We strictly conducted
self-examination in accordance with the regulations, and the leadership team and all units identi?ed a total of ??? problems. Focusing on
recti?cation, we issued a list of burden reduction measures and initiatives to streamline documentation and meetings, resulting in a ??.?%
year-on-year reduction in document processing volume. We have adopted an open and participatory approach to education, and have
cumulatively resolved ??? issues for employees and customers, and handled ?,??? complaints from passengers.
                                                                                                                                                                                  ESG Governance Structure
                                                                                                                                                 Decision-
  Integrating Party Building with Business Operations to Enhance Grassroots Governance                                                          making Level              Management Level                                          Executive Level
Strengthening organizational foundations and improving governance e?ectiveness. We have continuously strengthened the grassroots
foundation. Throughout the year, we established and optimized ?? grassroots Party organizations and successfully completing leadership                              Leading Group for Sustainable
                                                                                                                                                  Board of            Development Information                                        ESG Report               ESG Execution
transitions at all levels. We deepened the development of "Five-Strong and Five-Advanced" model Party organizations,and comprehen-                                                                            ESG O?ce
                                                                                                                                                  Directors                  Disclosure                                              Writing Team                 Team
sively carried out the " One Branch, One Feature; One Brand; One Fortress" activities, creating ?? distinctive Party branches. We implement-
ed the "Party Building + Business" project management mechanism innovatively,promoting the implementation of ??? integrated
projects,and reinforcing Party branches as strongholds in tackling key challenges.
                                                                                                                                                                     Evaluate and manage critical        Responsible for the       Develop stakehold-       Responsible for the
                                                                                                                                                                      issues, provide analysis and        daily disclosure of        er engagement
Enhancing Party member engagement and enable them to play a leading role. We have carried out activities such as "Striving for                                                                                                                              management of the
                                                                                                                                                                     suggestions for discussion by      sustainable develop-       plans and organize
Excellence" and "Three Displays, Three Comparisons, Three Evaluations", guiding Party members to take the lead in key tasks such as safety                                                                                                                  company's sustain-
                                                                                                                                                                     the decision-making level to         ment information             stakeholder         able development, as
production and the commissioning of Phase III operations. We have innovated the methods of Party member education and management,                 Leads the             support Board oversight.         and communication          communication          well as data statistics
issued "political birthday cards" to ?,??? Party members, and fully implemented a points-based assessment and star-rating system. We             company's                                                with investors and            activities.            and analysis.
                                                                                                                                                 sustainable                                            research institutions.
have formed ?? Party member task forces, solving ??? key and di?cult problems on the front line, fully demonstrating the strong commit-                               Determine and manage the
                                                                                                                                                development
ment of the Party member team.                                                                                                                    work and          costs and resources (including
                                                                                                                                                                       human and technological          Organize and convene                               Provide ESG reports
                                                                                                                                                serves as the                                                                        Coordinate the
                                                                                                                                                                    resources) required to identify,       meetings for the                                and related informa-
                                                                                                                                                   highest                                                                           preparation of
                                                                                                                                                                    mitigate, manage and monitor            preparation of                                   tion disclosure
                                                                                                                                                  authority                                                                           sustainability
                                                                                                                                                                         the impacts, risks and          sustainable develop-                               materials on time.
                                                                                                                                               responsible for                                                                          reports.
                                                                                                                                                                        opportunities related to          ment (ESG) reports
                                                                                                                                               decision-mak-          sustainable development.            and regular training
                                                                                                                                                   ing and                                                   sessions, and
                                                                                                                                                 oversight of           Review the company's            coordinate the work of                                  Promote the
                                                                                                                                                 sustainable          sustainable development              the writing team.                                 integration of ESG
                                                                                                                                                development                                                                         Report progress
                                                                                                                                                                               report.                                              and outcomes to          concepts into daily
                                                                                                                                                   matters.                                                                                                    operations and
                                                                                                                                                                                                          Follow up on the            the Leading
                                                                                                                                                                      Improve the sustainability         matters agreed by            Group on a           continuously improve
                                                                                                                                                                      disclosure framework and           the Leading Group           regular basis.        the ESG management
                                                                                                                                                                    enhance overall ESG competi-          and the assigned                                 level and responsibili-
                                                                                                                                                                              tiveness.                       tasks, etc.                                        ty practices.
??                                                                                                                                                                                                                                                                              ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                                Enhancing ESG Management
  Information Reporting Mechanism
                                                                                                                                         Stakeholder               Expectations and Concerns                             Communication and Response
We have established a well-de?ned and standardized internal reporting mechanism for sustainability information. The governance
structure clearly assigns responsibilities, with the Board of Directors providing overall coordination, the Sustainability Information                         Upholding Party leadership                                Working meetings and
                                                                                                                                                                                                Social welfare                                       Government
Disclosure Leading Group conducting reviews, the ESG O?ce overseeing implementation, and functional departments and subsid-                                    Safe and stable operations       services                 reports                     collaboration
iaries assuming their respective responsibilities. We have standardized the entire process of collecting, reviewing, submitting and          Government/                                        Development of an        Business performance        Regulatory
                                                                                                                                                               Preservation and apprecia-
                                                                                                                                             Regulatory                                         aviation hub             assessments                 supervision
disclosing sustainable development information, and adopted a reporting method that combines regular submissions with imme-                                    tion of state-owned assets
                                                                                                                                             Authorities                                        Maintaining social       Inspections and audits
diate reports for major matters. Cross-veri?cation and quality control procedures are strictly implemented to ensure that disclosed                            Economic Development
                                                                                                                                                                                                                         information disclosure
                                                                                                                                                               contribution                     stability
information is true, accurate, complete, and timely.
                                                                                                                                                                                                                         Internal control system     and supervisory board
                                                                                                                                                               Business performance         Transparency in              improvements                meetings
                                                                                                                                                                                            information disclosure
                                                                                                                                              Shareholders/    Corporate governance                                      Regular announce-           Online Q&A interactions
  Supervision and Assessment Mechanism                                                                                                        Investors        Protection of investor       Stable and compliant         ments and reports           Performance brie?ngs
                                                                                                                                                               rights                       operations                   General meetings of         and other investor
                                                                                                                                                                                                                         shareholders, board,        engagement activities
We have continuously improved and established a sound supervision and assessment mechanism for sustainable development,
constructing a multi-level supervision system that combines comprehensive supervision by the Board of Directors, routine supervi-                              Safe, convenient and         Special passenger            Service hotline           O?cial website/WeChat
                                                                                                                                                               e?cient travel               services                                               platform, etc.
sion by the Leading Group for Sustainable Development Information Disclosure, and special supervision by the compliance                                                                                                  Complaint hotline
                                                                                                                                              Passengers       Personalized services        Promotion of education                                 Passenger service
management department. This ensures that the sustainable development work is carried out in a fully regulated, controllable, and                                                            and culture
                                                                                                                                                                                                                         Satisfaction surveys
                                                                                                                                                               Intelligent services
traceable manner throughout the process. At the same time, sustainability management requirements were incorporated into the
performance responsibility agreements of relevant department heads. Through internal performance evaluations, we strengthen
                                                                                                                                                               Transparent                  Sustainable Supply           Routine business          Supplier audits
responsibility implementation and process control, forming a closed-loop management mechanism of "supervision - assessment -                                   Procurement                  Chain                        communication
recti?cation - improvement" and continuously optimizing management processes to promote the deep integration of the sustain-                  Partners/
                                                                                                                                                               Ethics and Compliance                                     Project cooperation
able development concept into the entire process of company governance and operation.                                                         Supplier
                                                                                                                                                               Integrity in contract                                     Business negotiation
                                                                                                                                                               execution
  Stakeholder Engagement                                                                                                                                       Employee rights              Training and                 Employee Representa-      Compensation and
                                                                                                                                              Employees        protection                   development                  tive Conference           Bene?ts Assurance
                                                                                                                                                               Health and safety            Bene?ts and care             Labor Unions              Training and Promotion
The support of stakeholders is crucial to the company’s stable operations. We continuously monitor stakeholder expectations,
establish diversi?ed, multi-channel communication and feedback mechanisms, actively listen to stakeholder opinions, expectations,
and demands, and strive to build more harmonious relationships through various channels and methods.                                                           Climate change               Air quality and
                                                                                                                                                               Response                     emissions control            Energy conservation,      Information disclosure
                                                                                                                                                                                                                         emission reduction,       Supervisory inspection
                                                                                                                                             Environment       Environmental impact         Energy and resource          and energy consump-
                                                                                                                                                               management                   conservation                 tion reduction            Work meetings and
                                                                                                                                                                                            Biodiversity Protection                                reports
                                                                                                                                                               Airport planning and         Exchange and                 Project cooperation       Evaluation and
                                                                                                                                             Peers/Industry    construction                 cooperation                  Industry exchange and     supervision
                                                                                                                                             Associations      International                Industry development         cooperation
                                                                                                                                                               development
                                                                                                                                                               Passenger Services           Transportation Integration   Routine business          Industry exchanges
                                                                                                                                                               Safety and Security          and Accessibility            communication             Project cooperation
                                                                                                                                             Airlines                                       Industry Development         Work meetings and
                                                                                                                                                               Airport Planning and
                                                                                                                                                               Construction                 Contributions                reports
                                                                                                                                                               Passenger Services                                        Routine business communication
                                                                                                                                             Retailers and
                                                                                                                                                               Safety and Security                                       Work meetings and reports
                                                                                                                                             Concessionaires
                                                                                                                                                               Coordinated Development                                   Business negotiations
                                                                                                                                                               Public welfare and           Rural revitalization
                                                                                                                                                                                                                         Volunteer service         Social supervision
                                                                                                                                             Community/        charity                      Education and culture
                                                                                                                                             Public            Volunteer service            promotion                    Public welfare            Information disclosure
                                                                                                                                                                                                                         activities
                                                                                                                                                               Community building
??                                                                                                                                                                                                                                                                           ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                                        Enhancing ESG Management
Double Materiality Assessment of                                                                                                        Double Materiality Matrix
Material Issues
                                                                                                                                              High
                                                                                                                                                            Sound Corporate Governance      Greenhouse Gas
      Review and Identi?cation of ESG Issues                                                                                                                Anti-corruption and Integrity   Emissions Management
                                                                                                                                                            Employee Occupational           Industry Development            Compliance Operations
                                                                                                                                                            Health and Safety               Promotion
                                                                                                                                                                                                                            Internal Control
     We attach great importance to the identi?cation and management of sustainability issues. In accordance with the GRI Sustain-                           Employee Employment and         Noise Pollution
                                                                                                                                                                                                                            Safe and E?cient Operations
     ability Reporting Standards and the Guidelines No. ?? of Shanghai Stock Exchange for Self-regulation of Listed Companies                               Team Development
                                                                                                                                                                                                                            Service Quality
     -Sustainability Report (Trial), and with reference to peer ESG practices, we reviewed the Company’s material sustainability                            Employee Training and
                                                                                                                                                                                                                            Climate Change Response
                                                                                                                                                            Development
     matters and established an issue pool. At the same time, we incorporated the latest regulatory requirements of the China
                                                                                                                                                            Employee Care
     Securities Regulatory Commission and the Shanghai Stock Exchange to further enhance the quality of the Company’s ESG
     management and disclosures.
      Stakeholder Research                                                                                                              Impact
                                                                                                                                        Materiality         Business Ethics                 Waste Management
     Questionnaires were designed around the two core dimensions of ?nancial materiality and impact materiality. Systematic                                 Customer Safety and Health      Green O?ce Practices           Employee Compensation and
                                                                                                                                                            Information Security and        Supply Chain                   Bene?ts
     research was conducted among Baiyun Airport’s internal and external stakeholders, including investors, shareholders, govern-
                                                                                                                                                            Privacy Protection              Management                     Technological Innovation
     ment and regulatory authorities, airlines, passengers, and employees, to collect opinions and suggestions and complete the
                                                                                                                                                            Prevention of Child Labor and   Biodiversity Protection        Energy Management
     preliminary screening of issues.                                                                                                                       Forced Labor
                                                                                                                                                                                            Community Develop-             Water Resources Management
                                                                                                                                                            Transparency of Information     ment Support
                                                                                                                                                            Disclosure
      Con?rmation and Disclosure of Material Issues
                                                                                                                                                                                            Social Welfare and
                                                                                                                                                            Diversity and Equal Opportu-    Public Philanthropy
                                                                                                                                                            nity
     With reference to the relevant requirements of the Guidelines No. ? for Self-regulatory Supervision on Listed Companies of The
     SSE - Compilation of Sustainable Development Reports, and taking into account industry development trends and the Compa-
     ny’s actual circumstances, the Leading Group for Sustainable Development Information Disclosure re?ned and ?nalized the
                                                                                                                                               Moderate                                                       Financial Materiality                   Material
     screening results and identi?ed ?? material issues of greatest concern to stakeholders for focused disclosure in the ESG Report.
                                                                                                                                                  Governance Issues           Social Issues       Environmental Issues
                                                                                                                                                                               Double materiality issues are disclosed in accordance with the disclosure framework set
                                                                                                                                                                               out in the Guidelines No. ?? of Shanghai Stock Exchange for Self-regulation of Listed
                                                                                                                                                                               Companies -Sustainability Report (Trial).
                                                                                                                                                                                    Governance
                                                                                                                                                                                   Disclose the governance structure and internal systems used by the Company to
                                                                                                                                                                                   manage and oversee sustainability-related impacts, risks, and opportunities.
                                                                                                                                         Issues that are material
                                                                                                                                           from both a ?nancial                     Strategy
                                                                                                                                         materiality perspective
                                                                                                                                        and an impact materiality                  Disclose the plans, strategies, and approaches adopted by the Company to address
                                                                                                                                        perspective are identi?ed                  sustainability-related impacts, risks, and opportunities.
                                                                                                                                          as double materiality
                                                                                                                                                  issues.
                                                                                                                                                                                    Impact, Risk and Opportunity Management
                                                                                                                                                                                   Disclose the measures and processes used by the Company to identify, assess, monitor,
                                                                                                                                                                                   and manage sustainability-related impacts, risks, and opportunities.
                                                                                                                                                                                    Indicators and Targets
                                                                                                                                                                                   Disclose the Indicators and targets used by the Company to measure, manage, monitor,
                                                                                                                                                                                   and evaluate its response to sustainability-related impacts, risks, and opportunities.
??                                                                                                                                                                                                                                                                      ??
 ???? Environmental, Social and Governance(ESG) Report                      Enhancing ESG Management
The connection between the material issues and the United Nations' ????
Sustainable Development Goals (SDGs)
 No.      Dimension                      Material Issues
                                      Compliance Operations
           Governance
           Environmental
           Social
??                                                                                                 ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                                Deepening Corporate Governance
Deepening Corporate Governance                                                                                                              Accountability Mechanism
                                                                                                                                          We have formulated governance policies, including the Rules of Procedure for the General Meeting of Shareholders of Guangzhou
                                                                                                                                          Baiyun International Airport Co., Ltd. and the Rules of Procedure for the Board of Directors of Guangzhou Baiyun International Airport
We strictly adhere to the Company Law of the People’s Republic of China, Securities Law of the People’s Republic of China, Code of        Co., Ltd., to clearly de?ne the roles, responsibilities, as well as communication and reporting mechanisms at each governance level,
Corporate Governance for Listed Companies, and other relevant laws and regulations issued by the China Securities Regulatory              including the General Meeting of Shareholders, the Board of Directors, the Board of Supervisors, and the Executive Management.
Commission and the Shanghai Stock Exchange. By establishing a structured governance mechanism, we continuously clarify roles at           Proposals are deliberated, reviewed, approved, and supervised in accordance with procedural rules, ensuring the standardized
di?erent levels and enhance governance e?ciency.                                                                                          operation of our corporate governance mechanism, the e?ective execution of resolutions, and the protection of the rights and
                                                                                                                                          interests of the company and shareholders.
  Governance Structure
                                                                                                                                            Appointment Process and Composition of the Board,
We have established a standardized and well-structured governance structure with clear division of responsibilities, which includes
                                                                                                                                            Supervisory Board, and Senior Management
the Party Committee, the General Meeting of Shareholders, the Board of Directors, and the Executive Management. Major matters
                                                                                                                                          Company directors and non-employee supervisors are elected by the General Meeting of Shareholders, while employee supervisors
must ?rst undergo preliminary review by the Party Committee and then submitted to the General Meeting of Shareholders, the Board
                                                                                                                                          are democratically elected by employees through the Employees Congress or other democratic methods. The General Manager and
of Directors, the Board of Supervisors, the Chairman's O?ce Meeting, or the General Manager's O?ce Meeting for decision-making
                                                                                                                                          Deputy General Managers are appointed by the Board of Directors in accordance with regulations. When selecting board members,
based on their respective decision-making authority.
                                                                                                                                          supervisors, and senior executives, we adhere to the principle of diversity, conducting a comprehensive assessment of each
                                                                                                                                          candidate based on factors such as age, gender, educational background, professional experience, and skillset.
         Party Committee
                                                                                                                                          As of December ??, ????, the company's Board of Directors consists of ? directors, among which ? are non-independent directors and
                                                                                                                                          ? are independent directors. The proportion of independent directors exceeds ??%, including experts in ?nancial accounting, airport
                                                                                                                                          investment and construction management, law, and macroeconomic management, etc. The Board of Directors has four specialized
     Provides leadership by setting strategic direction, overseeing overall governance, and ensuring policy implementation. It deliber-   committees, namely the Audit Committee, the Remuneration and Evaluation Committee, the Investment Review and Decision-mak-
     ates and makes decisions on major corporate matters in accordance with regulations.                                                  ing Committee, and the Compliance Management Committee. The chairpersons and main members of each committee are all
                                                                                                                                          independent directors, providing professional support for the scienti?c decision-making of the board.
         General Meeting of Shareholders
                                                                                                                                            Performance Assessment and Remuneration Management
     The highest governing body of the company, responsible for determining business strategies and investment plans, as well as
                                                                                                                                          We have developed governance policies such as the Performance Assessment Management Measures for Executive Management of
     reviewing and approving reports from the Board of Directors.
                                                                                                                                          Guangzhou Baiyun International Airport Co., Ltd (Trial) and the Remuneration Management Measures for Executive Management of
                                                                                                                                          Guangzhou Baiyun International Airport Co., Ltd (Trial) to continuously enhance executive salary management. The compensation of
         Board of Directors                                                                                                               the members of executives is generally composed of base annual salary, performance-based annual salary, tenure incentive and
                                                                                                                                          medium and long-term incentives. The annual compensation is determined by the Board of Directors based on factors such as job
     Accountable to the General Meeting of Shareholders, exercising decision-making authority within the scope de?ned by the              value, target di?culty and assessment results with a position-speci?c salary system in place that directly links salary to performance.
     Company Law of the People’s Republic of China, the company’s Articles of Association, and the mandates from the General              The remuneration plan for independent directors shall be proposed by the Remuneration and Evaluation Committee, submitted to
     Meeting of Shareholders.                                                                                                             the Board of Directors for approval, and approved by the General Meeting of Shareholders before implementation. Additionally, in
                                                                                                                                          accordance with relevant regulatory requirements and information disclosure norms, we regularly disclose the annual remuneration
                                                                                                                                          of directors and senior management members in our annual reports.
         Board of Supervisors
     A standing supervisory body responsible for overseeing the company’s ?nancial a?airs and ensuring the lawful and compliant
                                                                                                                                                     Key Performance Indicators (KPIs)
     performance of duties by the Board of Directors and senior management, thereby safeguarding the legal rights and interests of
     the company and its shareholders.                                                                                                            Convened the general meeting of shareholders ? times           The proportion of independent directors in the Board of
                                                                                                                                                                                                                 Directors is ??%.
                                                                                                                                                  Convened the board meeting ? times
         Executive Management
                                                                                                                                                                                                                 There is ? female independent director in the Board of
                                                                                                                                                  Convened the audit committee meeting ? times
     Exercises decision-making authority issued by the Board of Directors within the framework established under the Company Law                                                                                 Directors, and the proportion of female independent
                                                                                                                                                                                                                 directors is ??%.
                                                                                                                                                  Convened the remuneration and assessment committee
     of the People’s Republic of China and the company’s Articles of Association, ensuring the strict execution of resolutions passed
     by the Board of Directors and the General Meeting of Shareholders.                                                                           meeting ? times
                                                                                                                                                                                                                 The proportion of independent directors in the profes-
                                                                                                                                                  Convened the investment review and decision-making             sional committees is ???%.
                                                                                                                                                  committee meeting ? times                                      The cumulative pledge ratio of the top ten shareholders
                                                                                                                                                  Convened the compliance committee meeting ? time
                                                                                                                                                                                                                 (none)
??                                                                                                                                                                                                                                                                           ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                    Investor Communication and Protection
Investor Communication and Protection                                                                                                             Honors
We regulate investor rights through formal governance policies, continuously enhance the quality and transparency of information                  The Company received an A rating in the Shanghai Stock Exchange’s 2024?2025 information disclosure evaluation,
disclosure, and ensure smooth communication channels to protect investor interests e?ectively.                                                    marking the 12th consecutive year in which it achieved an A   rating for information disclosure.
     Standardize and Safeguard Shareholders' Rights and Interests                                                                                 On November 2025, the Company was awarded the title of     "Best Practice Case for Listed Compa-
                                                                                                                                                  ny Boards in ????" in the "2025 Best Practice Case Collection Activity for Board of Directors for Listed
In accordance with the Code of Corporate Governance for Listed Companies, the Rules on Shareholders' General Meetings of Listed                   Companies" launched by the China Association for Public Companies (CAPCO).
Companies, and the company’s Articles of Association, we have established the Rules of Procedure for the General Meeting of Share-
                                                                                                                                                  On December 2025, the Company received the "Golden Bull Award for Listed Companies
holders of Guangzhou Baiyun International Airport Co., Ltd.. These rules standardize the procedures for convening, proposing, notify-
                                                                                                                                                  (Golden Information Disclosure Award)" by China Securities Journal.
ing, holding, voting, recording, and announcing shareholder meetings, ensuring equal treatment for all shareholders. We carefully
consider the ways, timing and location of meetings to facilitate the participation of minority shareholders, guaranteeing their right to          On December 2025, the Company received the "????
                                                                                                                                                                                      Corporate Governance Award" under
information and participation, and ensuring that resolutions are made in a fair and transparent manner.                                           the "Shanghai Securities News Eagle·Golden Quality" awards.
                                                                                                                                                  On December 2025, the Company received the "Industry Leading Enterprise Award" under
     Improve the Quality of Information Disclosure                                                                                                the "Golden Horse Award" by the Securities Daily.
We comply with the Securities Law of the People’s Republic of China and the Administrative Measures for Information Disclosure of
Listed Companies, continuously updating the Information Disclosure Management System of Guangzhou Baiyun International
Airport Co., Ltd. to ensure that disclosures are timely, fair, truthful, accurate, and complete. Through various information disclosure
channels, we strictly implement regulatory requirements and disclose relevant ?nancial and non-?nancial information in
accordance with the information disclosure standards and time limits stipulated by relevant laws and regulations. The Audit Commit-
tee is responsible for supervising the behavior of the company's directors and senior management in ful?lling their responsibilities
for information disclosure. This ensures the e?ective implementation of the information disclosure management system and
e?ectively improves the company's information disclosure management level and quality.
     Strengthen Investor Relations Management
We have formulated the Investor Relations Management System of Guangzhou Baiyun International Airport Co., Ltd. to standardize
the management of investor relations. The company's board secretary serves as the person in charge of investor relations manage-
ment, and the Legal and Board A?airs Department (Board Secretary's O?ce) acts as the functional department for investor relations
management, responsible for all matters related to the company's investor relations management. Additionally, we continuously
supplement and improve the multi-channel and multi-level investor communication system, strengthen the information communi-
cation between the company and investors, enhance investors' understanding and recognition of the company, and e?ectively
protect the legitimate rights and interests of investors, especially those of the public.
      Investor Communication
      Channels                                                Mail delivery of materials
                                                              Telephone and email                 On-site visit
               Regular reports and interim reports            communication                                                                        The "I'm a Shareholder"- small investors visiting Baiyun Airport event organized by the
                                                                                                  Roadshow                                         Shanghai Stock Exchange, the China Association for Public Companies (CAPCO), and the
               General Meeting of Shareholders                E-interactive platform
                                                                                                                                           Case
                                                                                                  O?cial website column                            China Securities Investor Services Center (ISC) was successfully held.
               Performance brie?ngs                           Promotional materials               and o?cial account
                                                                                                                                           On the afternoon of October ??th, the event "Small Investors Visiting
                                                                                                                                           Baiyun Airport" organized by the Shanghai Stock Exchange, the China
                                                                                                                                           Association for Public Companies (CAPCO), and the China Securities
         Key Performance Indicators (KPIs)                                                                                                 Investor Services Center (ISC) was successfully held. Led by the Shanghai
                                                                                                                                           Stock Exchange,, more than twenty investors visited Baiyun Airport and
           A total of ?? announcements were disclosed and ??
                                                                                     Over ??? investors were received.
                                                                                                                                           visited the operation center "AOC" hall and the cultural exhibition hall of
           documents of various types were submitted during the year.
                                                                                                                                           Baiyun Airport. They comprehensively and multi-dimensionally learned
           ? performance brie?ngs were held.                                         ?? site visits were arranged.                         about the development history, corporate culture and operation control
                                                                                                                                           system of Baiyun Airport, and had in-depth exchanges with the Company's
           ?? questions from e-interactive platform were answered.                   ?? institutions participated in site visits..         management.
??                                                                                                                                                                                                                                                                 ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                                     Enhancing Compliance Management Capabilities
Enhancing Compliance                                                                                                                                     Strategy
Management Capabilities                                                                                                                                  Guided by Xi Jinping Thought on the Rule of Law, the Company takes the strengthening of its compliance management system and
                                                                                                                                                         capabilities as the main focus of its work. By establishing and improving a sound compliance management system, it strives to
                                                                                                                                                         enhance its law-based corporate governance, compliance in operations, and standardized management capabilities. The Company
We have always prioritized stable operation. Through the coordinated e?orts and in-depth promotion of the three pillars of compli-
                                                                                                                                                         promotes a compliance philosophy under which all employees build compliance awareness, all activities adhere to compliance
ance management, internal control, and risk management, we provide a solid guarantee for the sustained and sound development
                                                                                                                                                         requirements, compliance culture is upheld throughout the organization, and compliance risks are guarded against at all times.
of the company's business.
                                                                                                                                                         Through e?ective identi?cation and management of compliance risks, the Company advances the development of a comprehensive
                                                                                                                                                         compliance management system, ensures lawful and compliant operations, and safeguards its sound reputation.
Governance
                                                                                                                                                            Construction of Compliance Management System
We have established a multi-dimensional and all-round compliance system framework centered on the ?

 
                                                                                                                                                                                      The Company ensures that compliance requirements cover all business operations, all functional departments and
?


 
???
? and guided by the Compliance Management Manual of Guangzhou Baiyun International Airport                 Comprehensive               subsidiaries, and all employees, and are embedded throughout the entire process of decision-making, execution, and
Co., Ltd.. We have clearly de?ned the compliance management requirements and behavioral norms. A Compliance Management                                      coverage                  supervision.
Committee has been established by the Board of Directors, and a compliance management director has been appointed, forming a
clear compliance governance and supervision mechanism.                                                                                                                                The Company treats stronger compliance management as an important component of the primary responsibility of the
                                                                                                                                                           Strengthened               principal person in charge of promoting rule of law development within the enterprise. A company-wide compliance
                                                                                                                                                           responsibility             accountability system has been established to de?ne the compliance responsibilities of management personnel and
                                                                                                                                                                                      employees in all positions and to ensure e?ective implementation.
                                                 Approve the company's compliance management           Decide, within its authority, on the handling
                                                 strategic plan, basic systems and annual reports.     of personnel involved in non-compliance.
                                                                                                                                                                                      The Company promotes the integration and coordination of compliance management with legal risk prevention,
                                                 Promote the improvement of the compliance             Review the company's annual work report              Coordinated               auditing, internal control, and risk management to ensure the e?ective operation of the compliance management
                                                 management system.                                    on compliance management.                            Integration               system.
 Board of Directors                              Decide on the appointment and removal of the          Allocate resources required for compliance
                                                 compliance management director.                       management in a reasonable manner.
                                                                                                                                                          Business management                 Compliance is the responsibility of all functional departments and subordinate units. Compliance manage-
                                                 Decide on the establishment and functions of the      Perform other compliance management               must be accompanied by               ment should be carried out simultaneously with business operations, and compliance management require-
                                                 leading department of compliance management.          duties as required by laws and regulations,                                            ments should be integrated throughout the entire business process.
                                                                                                                                                         compliance management
                                                                                                       the Articles of Association, and internal rules
                                                 Study and decide on major matters related to
                                                                                                       and policies.
                                                 compliance management.
                                                                                                                                                                                      The Company conducts objective evaluations and handles corporate and employees conduct strictly in accordance
                                                                                                                                                          Objectivity and             with laws and regulations. Compliance functions perform their duties independently and are not subject to interference
                                                                                                                                                          independence                from other departments or personnel.
                                               Provide recommendations to the Board of Directors on compliance-related decisions, fully respon-
                                               sible for promoting the company's compliance management work, undertake the organizational
     Compliance
Management Committee
                                               leadership and overall coordination of compliance management, hold regular meetings to study
                                               and decide on major matters of compliance management or put forward opinions or suggestions,                 Continuous Optimization of the Institutional Framework
                                               and guide, supervise and evaluate compliance management work.
                                                                                                                                                         We have been continuously establishing and improving the compliance management system, formulating compliance codes of conduct
                                                                                                                                                         applicable to all employees, formulating specialized compliance management systems for key areas, and adopting a tiered management
                                                                                                                                                         approach for such areas. In response to changes in laws, regulations, rules, standards, and regulatory developments, the Company
                                                 Organize the formulation of the compliance          Report major compliance management                  promptly translates external compliance requirements into internal policies and procedures. Since May ????, the Company has compre-
                                                 management strategic plan.                          matters to the Board of Directors and the           hensively carried out a review and streamlining of its internal rules and systems, eliminating outdated, impractical, and hindering develop-
                                                 Participate in major company decisions and          General Manager.
                                                                                                                                                         ment regulations and redundant, repetitive regulations and clauses. Based on the latest legal, regulatory, and management requirements,
                                                 provide compliance opinions.
     Compliance                                                                                      Organize the drafting of the annual report of
                                                                                                                                                         the Company have optimized the existing rules to build a concise, e?cient, and practical internal management system structure.
                                                                                                     compliance management .
  Management Director                            Organize the implementation of compliance-re-
                                                 lated decisions made by the Board of Directors,     Perform other compliance management
                                                 the Compliance Management Committee, the
                                                 Chairman, and the General Manager.
                                                                                                     duties as required by laws and regulations, the
                                                                                                     Articles of Association, the Board of Directors,
                                                                                                                                                            Strengthening Accountability for Rule of Law Development
                                                                                                     or the Compliance Management Committee.
                                                 Lead the work of the leading department of                                                              We strictly implements the primary accountability system for rule of law development, reinforcing the core responsibility of principal
                                                 compliance management.
                                                                                                                                                         persons in charge for advancing law-based governance. The performance of the principal persons in charge of each subordinate unit in
                                                                                                                                                         ful?lling the responsibility for rule of law development will be clearly included in the annual debrie?ng and the comprehensive assessment
  Leading Department of                                                                                                                                  and evaluation system for leadership personnel, ensuring that the responsibility is e?ectively transmitted and implemented at all levels.
                                                Responsible for organizing, coordinating and supervising the company's compliance manage-
 Compliance Management                          ment work, and providing compliance support to other departments.
                                                                                                                                                            Strengthening Ex Ante Risk Controls
                                                                                                                                                         We consistently treat legal compliance review and major risk assessment as the mandatory preconditions for major decision-making
                                                                                                                                                         matters, thereby reinforcing the ?rst line of defense against risks. Special compliance reviews are conducted for important business
   Main Department of                           Responsible for the day-to-day management of compliance matters within their respective areas
                                                                                                                                                         activities, including major service procurement, to prevent potential risks. We continuously improve the management authorization list
 Compliance Management                          and for assuming the primary responsibility for compliance management.
                                                                                                                                                         and authorization delegation mechanism, and regularly assess the implementation e?ects to ensure the standardized authorization,
                                                                                                                                                         controllable risks, and e?ective implementation.
??                                                                                                                                                                                                                                                                                                             ??
                                                                                                                                          
 
  
  ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                                                            Enhancing Compliance Management Capabilities
Impact, Risk and Opportunity Management                                                                                                                                                    Compliance Risk Response Mechanism
     "Three Lines of Defense" for Compliance Management                                                                                                                                     The main departments of compliance management are
                                                                                                                                                                                                                                                                      The implementation of the response plan for
                                                                                                                                                                                            responsible for formulating response plans in their respec-
                                                                                                                                                                                                                                                                      major compliance incidents is coordinated and
                                                                                                                                                                                            tive professional ?elds based on the compliance liaison
We have established a "Three Lines of defense" model for compliance management, ful?lling the ex ante, ongoing, and ex post                                                                                                                                           led by the Compliance Management Committee.
                                                                                                                                                                                            mechanism, compliance risks, and other compliance risks
management responsibilities in accordance with the provisions of the ?

 ?


 
??                                                                                                                     The compliance management director takes the
                                                                                                                                                                                            discovered, including compliance risk descriptions,
?
?                                                                                                                                                                                                                                                                  lead, and relevant departments cooperate
                                                                                                                                                                                            response measures, and handling methods.
                                                                                                                                                                                                                                                                      together to minimize compliance risks and
                                                                                                                                                                                            The compliance risk response plan
                                                                                                                                                                                                                                                                      reduce losses to the greatest extent.
                                                                                                                                                                                            includes the handling procedures
     The ?rst line of defense          Main Department (Unit) of Compliance Management
                                                                                                                                                                                            for    major    compliance     risk
                                                                                                                                                                                            incidents. These departments are
     The main department (unit) responsible for compliance management is the ?rst line of defense,
                                                                                                                                                                                            responsible for the implementa-
     which is responsible for the daily management within their respective areas and assumes the main
                                                                                                                                                                                            tion of the compliance risk
     responsibility for compliance management.
                                                                                                                                                                                            response plan within their respec-
                                                                                                                                                                                            tive professional ?eld.
      The second line of defense             Leading Department of Compliance Management
                                                                                                                                                                                              In the event of non-compliance,
                                                                                                                                                                                                                                                                        The leading department of compliance
     The leading department of compliance management is the second line of defense, which is responsible for organizing,                                                                      The relevant department will organize
                                                                                                                                                                                                                                                                        management is responsible for researching
     coordinating and supervising compliance management work, providing compliance support to all functional departments                                                                      the handling in accordance with the
                                                                                                                                                                                                                                                                        and formulating the company's compliance
     and subordinate units of the company.                                                                                                                                                    response plan. When a major compliance
                                                                                                                                                                                                                                                                        risk response plans, submitting them to the
                                                                                                                                                                                              risk event occurs in the business area under
                                                                                                                                                                                                                                                                        Compliance Management Committee for
                                                                                                                                                                                              the responsibility of the main department of
                                                                                                                                                                                                                                                                        approval prior to implementation. It is also
                                                                                                                                                                                              compliance management, the head of the
                                                                                                                                                                                                                                                                        responsible for tracking and supervising the
      The third line of defense          Discipline Inspection Department, Human Resources Department, Audit Department                                                                       relevant department shall promptly report to
                                                                                                                                                                                                                                                                        implementation of the compliance risk
                                                                                                                                                                                              the supervising business leader, the General
                                                                                                                                                                                                                                                                        response plans by the main departments of
     The discipline inspection department, human resources department and the audit department are the third line of defense.                                                                 Manager, the Chairman, and the Compliance
                                                                                                                                                                                                                                                                        compliance management , as well as
     The discipline inspection department is responsible for reviewing violations and non-compliant conduct and making recom-                                                                 Management Committee, and submit a
                                                                                                                                                                                                                                                                        responding to incidents of non-compliance.
     mendations on disciplinary action. The human resources department participates in the investigation of relevant violations by                                                            response plan for the incident.
     employees and proposes organizational and personnel handling measures. The audit department is responsible for coordi-
     nating the compliance checks in the internal audit process, and collaborating with the leading department for compliance
     management to organize the recti?cation work for the de?ciencies in the regulations related to compliance management.
                                                                                                                                                                                           Compliance Risk Review
     Compliance Risk Identi?cation and Early Warning                                                                                                                                        When reviewing speci?ed matters in the course of business, main departments of compliance management simultaneously
                                                                                                                                                                                            perform their compliance review duties. For identi?ed compliance issues, they conduct systematic analysis of risk categories,
                                                                                                                                                                                            likelihood of occurrence, level of impact, and risk mitigation measures, issue timely warnings, and provide compliance review
                                                                                                                                                                                            opinions.
     The main departments of compliance management are responsible for identifying and systematically analyzing the potential
     risks, impact levels, and possible consequences of compliance issues within their respective professional ?elds, based on                                                              The relevant departments are responsible for implementing such compliance review opinions.
     changes in laws and regulations, administrative law enforcement situations, requirements of the State-owned Assets Supervi-
     sion and Administration Commission of Guangdong Province, among other factors. Meanwhile, these departments track the
                                                                                                                                                                                                    Key Performance Indicators (KPIs)
     changes in compliance risks within their professional ?elds, external penalties, changes in external laws and regulations, and
     administrative law enforcement situations, and promptly issues compliance risk alerts relevant to their business activities.
                                                                                                                                                                                                 Starting from ????, the company's overall system was streamlined from ??? items to ??? items, with a reduction
     The leading department of compliance management is responsible for organizing, coordinating and supervising the compli-
     ance key areas and the main compliance issues within these areas, and providing compliance support to the main manage-
                                                                                                                                                                                                 rate of ??%.
     ment department of compliance .
                                                                                                                                                                                                 In ????, a total of ?? written special legal argumentation opinions were issued.
??                                                                                                                                                                                                                                                                                                                     ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                        Enhancing Compliance Management Capabilities / Enhancing Internal Control
Indicators and Targets                                                                                                                Enhancing Internal Control
     Compliance Assessment and Evaluation Mechanism                                                                                   We continuously improve our internal control system by re?ning our organizational structure and establishing an e?ective internal
                                                                                                                                      control system that supports scienti?c decision-making, implementation, and oversight. This ensures the healthy operation of the
We have incorporated the compliance management performance into the annual assessment scope for the main departments of               Company’s business activities..
compliance management and all employees within those departments. Relevant functional departments have formulated the
compliance assessment and evaluation measures in accordance with the superior compliance assessment and evaluation require-
                                                                                                                                      Governance
ments and in combination with the company's assessment system. The compliance assessment and evaluation are carried out by the
subordinate units as part of the annual performance review process. The results serve as an important basis for employee rewards
and disciplinary actions, management appointments, and selections for recognition and awards.
     Compliance Training Mechanism
                                                                                                                             ?                                                                   Responsible for the e?ectiveness of internal control. The Chairman
                                                                                                                                        Decision-                                                serves as the primary person responsible for the e?ectiveness of
                                                                                                                                       making Level               Board of Directors
We organize compliance training for all employees to ensure that they understand and comply with the Company’s compliance                                                                        internal control work in the enterprise and bears the main leadership
objectives and requirements. Employees are required to participate in compliance training, and management at all levels is expected                                                              responsibility for the e?ectiveness of the internal control system.
to take the lead.
     Cultivation of Compliance Culture                                                                                                                                                           Oversees the day-to-day development and implementation of the
                                                                                                                                                                                                 internal control system. Other senior management members assume
                                                                                                                                                                                                 leadership responsibility for internal control and major risk manage-
We place emphasis on fostering a compliance culture that is integrated with corporate culture and aligned with business needs.         Management               The leader in charge             ment within their respective functional areas and business segments.
Through various initiatives, the Company strengthens employees’awareness of safety, integrity, and probity, promotes the values of        Level                  of internal control
                                                                                                                                                                                                 Professional committees and working groups are responsible for
lawful and compliant operations and honesty, reinforces the ideological foundation for compliant management, and encourages the
                                                                                                                                                                                                 internal control and specialized risk management within their
development of a strong compliance culture across the organization.
                                                                                                                                                                                                 respective scopes.
                                                                                                                                                                                                  The Leading Group for Internal Control System Development has set
                                                                                                                                                                 Audit and Supervisory            up an o?ce under this department, which is responsible for the daily
                  Compliance                                                                                                                                       Work Department
                  Management
                                                                ????                     ????                      ????                                                                           internal control.
             Number of internal                                                                                                        Executive
        management policies streamlined                            ?                        ??                       ??                  Level
                                                                                                                                                                                                  Perform the internal control responsibilities of the relevant functions
                                                                                                                                                                                                  of the department. The head of each department bear the main
               Number of written                                                                                                                                                                  responsibility for the internal control performance of the depart-
           special legal opinions issued                          ??                        ??                       ??                                         Functional departments
                                                                                                                                                                                                  ment. Each department designates a quali?ed sta? member to
                                                                                                                                                                                                  concurrently undertake internal control responsibilities and manage
              Number of legal and                                                                                                                                                                 day-to-day internal control activities.
                                                                  ??                        ??                       ??
                                                     ?                                                                       ?
           compliance training sessions
          Number of participants in legal
                                                                 ????                     ????                      ????
            and compliance training
??                                                                                                                                                                                                                                                                      ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                                Enhancing Internal Control
Strategy                                                                                                                               Impact, Risk and Opportunity Management
     Internal Control Operation Mechanism                                                                                                Risk Management Structure
     We continuously review and optimize the company's governance structure and business operations. We have organized all                   We have established a risk management and internal control organizational system that is vertically integrated
     functional departments and subordinate units to advance the internal control systems in accordance with established plans               and comprehensively covered.
     and requirements, improve the internal control management manual to ensure that all employees clearly understand the
     internal organizational structures, roles and responsibilities, and business processes, thereby clarifying accountability and         Chairman of the Company
     enabling the proper exercise of authority.
                                                                                                                                             The Chairman serves as the primary person accountable for risk management and bears
                                                                                                                                             primary leadership responsibility for the e?ectiveness of the risk management system.
     Each functional department can fully leverage the supervisory and control roles in internal control management, forming an
     internal control system across departments.                                                                                           The leader in charge of risk management
     In accordance with the relevant regulatory requirements of listed companies, we regularly organize internal control self-as-            The leader in charge of risk management is responsible for the daily operation of the risk control system.
     sessments across all subordinate units and engage external accounting ?rms annually to conduct internal control audits,
     ensuring the e?ectiveness of internal control operations.                                                                             Other senior executives
                                                                                                                                             Other senior executives are responsible for risk management and major risk control within their respective
                                                                                                                                             functional areas and business segments.
                                                                                                                                           Professional committees, working groups, functional departments and subordinate units
     Internal Audit
                                                                                                                                             Professional committees, working groups, functional departments and subordinate units are responsible for risk
                                                                                                                                             prevention and control within their respective ?elds.
We attach great importance to audit supervision, continuously implement the three-year "full coverage" deployment of internal
audits, formulate annual audit plans, regularly carry out various audits of economic responsibility and special audits, and communi-
cate the problems found during audits with relevant functional departments.
      By issuing the Audit Reminder Letter, problems arising from reasons such as non-standard business operations
                                                                                                                                         Risk Management Regulations
      and inadequate implementation are addressed in a targeted manner.
      By issuing the Audit Management recommendation, we identify recurring and critical issues and focuses on
                                                                                                                                          We continuously improve our comprehensive risk                  We have formulated the Management Measures for
      resolving underlying institutional barriers, mechanism de?ciencies, and system gaps.
                                                                                                                                          management system, have formulated the                          Major Operating Risk Events of Guangzhou Baiyun
                                                                                                                                          Comprehensive Risk Management Measures of                       International Airport Co., Ltd., establishing a sound
                                                                                                                                          Guangzhou Baiyun International Airport Co., Ltd.,               mechanism for managing major operational risks
      In addition, through initiatives such as the Audit Lecture Series, we promote both corrective and preventive
                                                                                                                                          activities, including risk identi?cation and assess-            risks. Functional departments and subordinate unit
      measures, helping departments and subsidiaries mitigate risks and reduce potential losses, thereby achieving a
                                                                                                                                          ment, risk response, and the preparation of risk                are the responsible entities for reporting risk
      broader standardization e?ect.
                                                                                                                                          management reports. We focus particularly on                    information. Signi?cant risks identi?ed within their
                                                                                                                                          major risks that may a?ect the company's overall                respective areas are subject to timely early warning
                                                                                                                                          sustainable operation, ensuring that all business               and reporting. Relevant departments report on
                                                                                                                                          activities comply with applicable laws and regula-              special risk management activities in accordance
                                                                                                                                          tions and that operational and management                       with the requirements of the Company’s risk
                                                                                                                                          activities remain e?ective.                                     management functions.
??                                                                                                                                                                                                                                                                ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                              Enhancing Internal Control / Building a Corruption-Free Airport
       Risk Management System                                                                                                            Building a Corruption-Free Airport
We continuously strengthen the "Three Lines of Defense" framework for risk management.
                                                                                                                                           Strengthening Party Conduct and Integrity to
                                                                                                                                           Establish a Strong Line of Defense Against Corruption
      The ?rst line of defense         Subordinate Units                                                                                 We adhere to Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as our guiding principle, fully implementing
                                                                                                                                         the spirit of the ??th National Congress of the Communist Party of China (CPC), as well as the Plenary Sessions of the ??th CPC Central
     Subordinate units are the ?rst line of defense, bearing direct responsibility for risk management in                                Committee. We conscientiously follow the guidance from the Fourth Plenary Session of the ??th Central Commission for Discipline
     related management activities;                                                                                                      Inspection (CCDI) and the Fourth Plenary Session of the ??th Guangdong Provincial Commission for Discipline Inspection, ensuring
                                                                                                                                         strict discipline and integrity within our company while aligning with our overall development strategy.
      The second line of defense            Functional Departments
                                                                                                                                                   We strictly enforce Party political discipline and political rules, diligently ful?ll our political responsibility for
     Functional departments of the company serve as the second line of defense for risk management, providing the ?rst line with
                                                                                                                                                   comprehensively enforcing strict Party governance, persevere in implementing the spirit of the Central Party
     the risk management guidance and suggestions of the business-related matters.
                                                                                                                                                   Leadership’s Eight-point Decision and its detailed rules, ensuring that political oversight is both strong and
                                                                                                                                                   e?ective in implementing directives from higher authorities.
      The third line of defense         Internal Audit Department                                                                                  By strictly enforcing the "two responsibilities" in Party conduct and integrity, we continue to extend the comprehen-
                                                                                                                                                   sive and strict governance of the Party down to the grassroots level, fostering a coordinated linkage between“?ve
     The internal audit department acts as the third line of defense, it is responsible for coordinating, guiding, and supervising the             key responsibilities”.
     risk management activities, and for evaluating the e?ectiveness of risk management and the control system through testing
     and audits. We actively promote the implementation of the long-term mechanism for risk management, preventing and
     mitigating various risks, to promote the sustained, stable and healthy development of the company.
                                                                                                                                                   We Strengthen routine and targeted oversight, maintain a ?rm stance against corruption, and deepen case-based
                                                                                                                                                   recti?cation and governance.. Meanwhile, we strengthen both positive and negative educational approaches to
                                                                                                                                                   cultivate a culture of integrity. Through multiple channels, Corruption-Free culture learning resources were provid-
       Conducting Due Diligence                                                                                                                    ed to Party members, continuously consolidating the results of discipline and law education, and vigorously
                                                                                                                                                   creating a "Corruption-Free Baiyun Airport" cultural atmosphere.
We continuously strengthen the management of company investments to mitigate investment risks. In accordance with the Guang-
dong Provincial State-owned Enterprise Investment Compliance Guidelines and other relevant regulations, we have established a
mechanism for the due diligence and compliance exemption of investment matters. Due diligence is conducted for equity investment
projects, including joint ventures, equity participation, and mergers and acquisitions.
Indicators and Targets
         Internal Control                               ????                           ????                          ????
          Scope of Internal
                                                       ???%                            ???%                           ???%
          Control Evaluation
             Number of
                                                          ??                             ??                             ??
       Internal Audit Projects
??                                                                                                                                                                                                                                                                           ??
  ???? Environmental, Social and Governance (ESG) Report                                                                                                                                                                              Building a Corruption-Free Airport
  Anti- Bribery and Anti-Corruption                                                                                                         Strengthen the construction of anti-corruption culture
                                                                                                                                        ?? Party members and cadres were organized to attend the court hearings of related cases. ? sessions, involving nearly ?,??? Party
We have always regarded anti-commercial bribery and anti-corruption governance as the core strategy of our corporate                    members, cadres and employees, were organized to watch warning education ?lms. ??? Party members from the Company were
construction of integrity culture, and have continuously improved the governance systems and mechanisms. The Responsibili-              organized to visit the discipline and law education base for on-site learning. These initiatives enhanced our awareness of "not
ty List of the Discipline Inspection Commission of Guangzhou Baiyun International Airport Co., Ltd. for Implementing the Guide-         wanting to engage in corruption". A Central Party Leadership’ s Eight-point Decision learning column was set up in "Corruption-Free
lines on Strengthening the Supervision on Chief O?cials and Leadership Teams at All Levels was formulated and issued. The               Baiyun Airport". The corporate WeChat platform compiled and released ??? issues and ??? articles of learning content throughout
responsibilities are clearly de?ned in a list format, to assist the company's Party committee in integrating the construction of        the year. Specialized integrity-themed lectures were held for key position personnel involved in bidding reviews and procurement,
party conduct and integrity with anti-corruption e?orts into the overall development strategy.                                          aiming to guide the sta? to have a sense of awe, maintain vigilance, and abide by the bottom line.
                                                                                                                                        Through a series of governance measures, we improved the Company’s political ecosystem, standardized business processes, and
                                                                                                                                        achieved mutual reinforcement between integrity and development. This year, the training on Party conduct and anti-corruption for
        Annual meeting on Party building and Party conduct and integrity building                                                       Party members and leading cadres has reached ???% coverage. In the future, the Company will continuously improve the anti-cor-
                                                                                                                                        ruption risk prevention system, advance the development of a digital and intelligent supervision system, persist in improving
                                                                                                                                        conduct, enforcing discipline and combating corruption, promote the integrated advancement of the mechanisms for o?cials not
         At the beginning of the year, We convened the annual work meeting on Party building and Party conduct and integrity
                                                                                                                                        daring to be corrupt, not being able to be corrupt, and not wanting to be corrupt, and establish a long-term mechanism for integrity
         building. The Company's Party committee signed responsibility agreements with the Party committees (general
                                                                                                                                        governance, thereby providing strong disciplinary support for the Company’    s high-quality development.
         branches) of subordinate units and the Party branches of functional departments, issued the annual work priorities ,
         revised and improved the list of the“two responsibilities”and ensured its implementation at all subordinate units,
         and made arrangements for the implementation of all tasks for the year.
                                                                                                                                     Advocating Fair Competition and Fair Treatment of
                                                                                                                                     Small and Medium-sized Enterprises (SMEs)
        Establishing a risk prevention and control mechanism
         We focused on potential areas of integrity risks and have established a full-process risk prevention and control mech-    We strictly abide by laws and regulations including the Anti-Monopoly Law of the People's Republic of China and the Law of the
         anism of "pre-event investigation, in-event control, and post-event accountability" . Through regular special supervi-    People’s Republic of China Against Unfair Competition, and resolutely oppose and resist all forms of unfair competition. To
         sion and embedded risk investigations, we identi?ed and defused integrity risks in a timely manner. We urged the          e?ectively ful?ll this commitments, the Company has systematically incorporated core requirements such as anti-fraud, anti-com-
         further establishment of "close and clean" business relationships, strengthen the management of business outsourc-        mercial bribery, anti-monopoly, anti-unfair competition, price compliance, and advertising compliance into the Compliance
         ing, optimize cooperation services, standardize cooperation interactions, and e?ectively prevent corruption risks. In     Management Manual of Guangzhou Baiyun International Airport Co., Ltd.. We actively collaborate with all employees and partners
         the documents and contract templates for investment promotion, leasing, bidding and procurement, we added the             to jointly strive to build a compliance defense line, maintain fair competition, and construct a mutually trusting ecosystem. This is
         clauses for penalty for breach of integrity. It was required that all subordinate units sign corresponding integrity      not only the company's regulation of its own business operations, but also a ?rm protection of the market order.
         agreements (contracts) when signing business and procurement contracts with the counterparties.
??                                                                                                                                                                                                                                                                             ??
                                                           “Cloud”Environmental
                                                           Green Airport, Advancing
                                                           Low-Carbon Coexistence
                                                            We are committed to the principles of resource conservation, environ-
                                                            mental friendliness, low-carbon and emission reduction, and opera-
                                                            tional e?ciency. By actively implementing the“??th Five-Year Plan”for
                                                            Green Civil Aviation Development, we systematically build a life cycle
                                                            environmental management system, proactively adapt to global
                                                            climate governance requirements, and comprehensively promote
                                                            energy structure optimization and energy e?ciency improvements. We
                                                            continuously innovate environmentally friendly operational models,
                                                            integrating   ecological    protection   into   our   corporate   strategic
                                                            decision-making, thereby laying a solid foundation for building a
                                                            world-class aviation hub.
     Climate Change Response                          ??
     Optimizing Resource Utilization                  ??
                                                                           Key I ssues
     Environmental Compliance Management              ??
                                                                      Climate Change Response, Energy Utilization, Water
     Strengthening Pollution Prevention and Control   ??              Resource Management, Circular Economy, Environ-
                                                                      mental Compliance Management, Pollution Preven-
                                                                      tion and Control, Pollutant Emissions, Waste Manage-
     Advancing Ecological Governance                  ??              ment, Ecosystem and Biodiversity Protection, Green
                                                                      Awareness Promotion
     Promoting Green Awareness                        ??
                                                                          Contribution to the United Nations ????
                                                                          Sustainable Development Goals (SDGs)
??                                                                                                                                        ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                           Climate Change Response
                                                                                                     Climate Change Response
                                                                                                     We are fully committed to China's "Carbon Dioxide Peaking and Carbon Neutrality" strategy, actively implementing The Communist
                                                                                                     Party of China Central Committee and the State Council’s Working Guidance for Carbon Dioxide Peaking and Carbon Neutrality in
                  Enhancing the Green Operation Management System                                    Full and Faithful Implementation of The New Development Philosophy and the State Council’s Action Plan for Carbon Dioxide
                                                                                                     Peaking Before ????. We closely align with policies set by various government agencies and industry regulators, pioneering the
                                                                                                     integrated "Three-in-One" governance model of energy ? environmental - carbon emissions. Through in-depth research and practical
                      Formulate an airport operation plan for carbon peaking and carbon neutrality   exploration of carbon dioxide peaking and carbon neutrality pathways, we are establishing a comprehensive, low-carbon develop-
                                                                                                     ment governance mechanism that spans the entire lifecycle of planning, construction, and operations, contributing innovative
                          Optimize the platform-based construction of carbon emission management     solutions for the green transformation of the transportation sector.
                              Establish a green airport operation management system
                                                                                                     Governance
                                                                                                     We regard climate change as a key consideration in our strategic decision-making. To strengthen greenhouse gas management and
                                    Strengthening the Intensive Resource Utilization
                                                                                                     climate change response, we have established a Leading Group for Ecological Civilization Development, which is responsible for
                                                                                                     coordinating and advancing the company's ecological civilization initiatives, addressing major green development issues, and
                                                                                                     supporting high-quality development.
                                     Optimize land use e?ciency
                                     Promote energy conservation                                                                                                  Takes the primary responsibility for ecological and environmental protection
                                                                                                                                                                  and carbon peaking and carbon neutrality initiatives, studies and formulates
                                                                                                                                 The Leading Group                overall strategies and deployments, provides the resources required for
                                                                                                                                 for Carbon Peaking               advancing the airport’s carbon peaking and carbon neutrality operations
                                     Enhance water management e?ciency                                 Decision-                                                  management system, including human resources, technology, equipment and
                                                                                                       making Level              and Carbon Neutrali-
                                                                                                                                                                  funding, approves major matters related to the Company's ecological and
                                                                                                                                 ty of Baiyun Airport             environmental protection and carbon peaking and carbon neutrality
                                                                                                                                                                  initiatives, reviews and solves major problems arising in implementation, and
                                    Ensure rational utilization of materials                                                                                      ensure the steady advancement of relevant work.
                                                                                                                                                                  De?nes the department responsible for the airport’s carbon peaking and carbon
                                   Building an Ecologically Harmonious Environment                                                                                neutrality operations management; coordinates the relevant work of functional
                                                                                                       Management                 O?ce of the                     departments and subordinate units; reviews the reasonableness and applicability
                                                                                                       Level                      Leading Group                   of performance parameters; reviews the annual targets and indicators of the
                                                                                                                                                                  airport’s carbon peaking and carbon neutrality operations system; and evaluates
                                                                                                                                                                  the implementation of strategic plans.
                            Continue advancing the Blue Sky Protection Action
                                                                                                                                                                  Responsible for the Company’     s speci?c work relating to energy, environmental
                                                                                                                                                                  and carbon emissions management; assists in establishing and maintaining the
                         Develop a sponge airport infrastructure
                                                                                                                                                                  airport’ s carbon peaking and carbon neutrality operations management system
                                                                                                                                                                  to ensure its e?ectiveness, adequacy and suitability; organizes functional
                                                                                                                                                                  departments and subordinate units to establish performance parameters for the
                                                                                                                                                                  airport’ s carbon peaking and carbon neutrality operations system and adjust
                     Construct a garden-style airport
                                                                                                                                                                  them as appropriate in response to changes in the Company’     s business scope and
                                                                                                                                                                  development plans; organizes data collection, analyzes system performance,
                                                                                                                                 Special Working                  monitors energy, environmental and carbon emissions performance parameters,
                                                                                                       Executive Level           Group                            and tracks progress against targets and indicators; manages internal and external
                                                                                                                                                                  communication and information exchange; organizes company-level communica-
                                                                                                                                                                  tion, training and e?ectiveness evaluation relating to the airport’s carbon peaking
                                                                                                                                                                  and carbon neutrality operations system; prepares the assessment measures for
                                                                                                                                                                  the Company’    s green airport operations management system, organizes annual
                                                                                                                                                                  assessments and publishes the results; and organizes functional departments and
                                                                                                                                                                  subordinate units to carry out internal audits to review implementation of the
                                                                                                                                                                  management system and objectively assess its compliance and suitability.
??                                                                                                                                                                                                                                                      ??
  ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                                     Climate Change Response
Strategy
                                                                                                                                            Building Intelligent microgrids to promote use of clean energy
     Smart Coordination for Carbon Reduction and E?ciency Enhancement                                                                          Expand the construction of distributed photovoltaic systems
                                                                                                                                               Promote the application of diversi?ed energy storage technologies
                                                                                                                                               Facilitate the implementation of smart power dispatching
Baiyun Airport has established a management model of "Airport Ecological Community", expanding the scope of carbon emission
management to the entire airport area. The system not only incorporates operational entities such as airlines, ground service units,           Promote the use of new energy vehicles vigorously
and commercial tenants, but also integrates the passenger behavior data and government regulators into a uni?ed management
framework. In ????, Baiyun Airport successfully passed the three-star evaluation of the "Dual Carbon Airport" by the Civil Airport          Coordinating the reduction of pollution and carbon emissions to
Association of China. Currently, Baiyun Airport has obtained ACI International Airport Carbon Accreditation Level ?, ?, and ? certi?ca-     promote sustainable resource circulation
tions, making it the ?rst airport in mainland china to receive a Level ? certi?cation. By achieving these milestones, Baiyun Airport
demonstrates China’s civil aviation industry's ambition and expertise in tackling climate change, reinforcing its international reputa-         Explore cascade utilization of battery
tion as a responsible civil aviation enterprise.                                                                                                Explore the use of sustainable fuels
                                                                                                                                                Establish a non-CO? emissions control mechanism
Baiyun Airport has forged strategic partnerships with airlines and on-site service providers, aligning strictly with the International
Civil Aviation Organization (ICAO) carbon emission standards and the Civil Aviation Administration of China's (CAAC) Blue Sky Protec-       Empowering re?ned carbon emissions management through intelligent technologies
tion Action Plan. We have built a comprehensive, site-wide carbon emissions management system, leveraging smart monitoring
technologies and big data analytics to develop a phased emission reduction roadmap. By implementing dynamic energy allocation
                                                                                                                                                Promote the continuous upgrading of the carbon emission management system
strategies for key building clusters such as terminal buildings, establishing an intelligent air conditioning and lighting control system
                                                                                                                                                Enhance the e?cient and precise operation of mechanical and electrical equipment
based on weather conditions and passenger ?ow dynamics. We have strengthened multi-dimensional supervision and audit mecha-
nisms, conducted carbon emissions manager certi?cation training, e?ectively enhanced the airport ecosystem resilience and                       Improve the autonomous optimization capability of the digital twin base platform
low-carbon governance capacity.
                                                                                                                                            Exploring innovative technologies and transforming cutting-edge applications
                                                                                                                                                Actively explore an innovation model integrating industry, academia, research and application
                                                                                                                                                Explore green ?nance application models
                                                                                                                                                Carry out hydrogen energy pilot practices at Baiyun Airport
                                                                                                                                                Develop zero-carbon building/park/airport demonstration projects
                                                                                                                                            Implementing low-carbon emission reduction and continuously improving energy e?ciency
                                                                                                                                                Conduct energy-saving diagnosis and energy e?ciency benchmarking
                                                                                                                                                Promote the phase-out of outdated motor-driven equipment
                                                                                                                                                Promote green procurement requirements
                                                                                                                                                Build green and e?cient data center
                                                                                                                                            Building transport connectivity and establishing an e?cient collaborative operations mechanism
                                                                                                                                                Enhance ground operation e?ciency continuously
                                                                                                                                                Strengthen the railway-driven connectivity with surrounding cities
                                                                                                                                                Optimize tra?c organization around the airport
                                                                                                                                                Improve the e?ciency of internal transport transfers
                                                                                                                                             Stepping up communication e?orts to foster a green and low-carbon brand culture
                                                                                                                                                 Strengthen communication on green and low-carbon development
                                                                                                                                                 Establish platform for exchanging experiences on green and low-carbon development
                                                                                                                                                 Promote the implementation of carbon-inclusive scenarios at the airport
??                                                                                                                                                                                                                                                                ??
     ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                                                                                                                  Climate Change Response
Impact, Risk and Opportunity management
                                                                                                                                                                                                                     Indicators and Targets
In accordance with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), we conduct the identi?-
cation of climate risks and opportunities, formulate a list of risks and opportunities, clarify those that may have a signi?cant impact
on the Company's operations, and formulate and update response measures in a timely manner.                                                                                                                               Carbon peak and carbon neutrality targets
                                                                                                                                                                                                                     In line with common industry practice, greenhouse gas accounting classi?es emissions into three scopes.
                                                  Climate Risk Identi?cation and Response Measures at Baiyun Airport                                                                                                  Scope ? - Direct emissions. Emissions generated from equipment owned or controlled equipment by the airport.
                                                                                                                                                                                                                     Scope ? - Indirect emissions. Emissions arising from the generation of purchased electricity, heat, or steam.
      Risk                                                                                                    Impact           Operational
                                                                  Risk Description                                                                                        Solutions                                  Scope ? ? Other indirect emissions occurring upstream and downstream of the value chain.
    Category                                                                                                  Duration           Impact
                                                  Extreme weather events such as typhoons, heavy                                                  Establish and improve early warning and emergency                  By ????, the Company aims to achieve peak carbon emissions within its legal-entity boundary for Scope ? (direct emissions) and
                                                  rainstorms, and severe convective weather may                                                   response procedures for extreme weather conditions,
                                                  a?ect ?ight take-o?s and landings, causing                                                      and conduct regular emergency drills.                              Scope ? (indirect emissions).
                                                  widespread delays for passengers, and may lead                               Revenue decline    Based on meteorological information, issue high-tem-
                   Acute Risk
                                                  to equipment damage and asset losses.
                                                                                                             Short, medium
                                                                                                                               Operating costs    perature warnings promptly make advance ?re                        By ????, Baiyun Airport aims to achieve the carbon neutrality for the terminal area and airside area of Baiyun Airport, covering Scope
                                                                                                              and long term
                                                  High-temperatures may increase the risk of ?res                                 increase        prevention arrangements.
                                                  involving ?ammable materials and a?ect                                                          Develop an intelligent operation system for air
                                                                                                                                                                                                                     ? (direct emissions) and Scope ? (indirect emissions).
                                                  occupational health and safety, while also driving                                              conditioners, achieving e?cient operation based on
Physical Risk
                                                  up cooling demand, energy consumption and
                                                  operating costs.
                                                                                                                                                  actual conditions and reducing the energy consump-
                                                                                                                                                  tion of the air conditioning system.
                                                                                                                                                                                                                     By ????, within the red-line boundary of Baiyun Airport, the Company aims to achieve carbon neutrality across this physical area for
                                                                                                                                                                                                                     Scope ? (direct emissions) and Scope ? (indirect emissions).
                                                                                                                                                  Strengthen the comprehensive management of the
                                                                                                                                                  ecological environment around the airport, reduce the
                   Chronic Risk
                                                                                                                                                                                                                          Recent Carbon Emission Targets
                                                  Changes in the ecological environment may a?ect                                                 risk of attracting birds, and coordinate the protection of
                                                  the ecological species near the airport, increase          Short, medium                        aviation safety and biodiversity.
                                                                                                              and long term    Revenue decline
                                                  the risk of bird strikes, and a?ect the safety of                                               Establish a bird strike prevention platform and
                                                  aircraft takeo? and landing.                                                                    database, regularly observe and record the nearby bird
                                                                                                                                                  species, and adopt corresponding measures to reduce                The production and operation activities involving the emission of greenhouse gases mainly include fuel consumption of ground
                                                                                                                                                  the probability of bird strikes.                                   service vehicles and equipment, steam consumption for in-?ight meal preparation, and electricity consumption for terminal building
                                                  The country may introduce stricter policies and                                                                                                                    operations.
                                                                                                                                                 Formulate the implementation path for carbon neutrality
             Regulations
                                                  regulations to mitigate climate change, and
             Policies and
                                                                                                                                                 at Baiyun Airport, continuously promote the proportion
                                                  airports may be included in the national carbon             Medium and       Operating costs   of clean energy and the level of re?ned energy manage-
                                                  emissions trading market.
                                                  Rising carbon prices in the carbon market may
                                                                                                               long term          increase       ment, leverage the leading role of digitalization, establish                  Non-fossil energy consumption: ??,???.?? tons of standard coal equivalent.
                                                                                                                                                 a management system of carbon asset , and optimize the
                                                  increase compliance costs, thereby driving up
                                                  airport operating and procurement costs.
                                                                                                                                                 green procurement system.                                                     Share of non-fossil fuel consumption: ??%.
                                                                                                                                                 Carry out a feasibility study on strengthening the research and               Fossil energy consumption: ?,???.? tons of standard coal equivalent.
                  Technology
                                                  The development trend of low-carbon technolo-
                                                  gies remains uncertain, investment costs are               Short, medium                       application of low-carbon technologies, and reduce the risk of
                                                                                                                               Operating costs
                                                  relatively high, and rapid technological iteration          and long term       increase
                                                                                                                                                 investment failure. Actively engage in industry cooperation,                  Decrease in carbon emission intensity: ?.?%.
                                                  may lead to stranded investments.                                                              and jointly promote the research and application of
                                                                                                                                                 low-carbon technologies with value chain partners.
Transition Risk
                                                  The impact of climate change on the aviation
                                                  market remains uncertain.
                                                                                                                                                 Establish strategic cooperation with high-quality partners,                    Key Performance Indicators (KPIs)
                                                                                                                                                 enhance the ability to respond to supply chain risks, and
                  Market
                                                  Climate-related factors may also drive up raw                                Operating costs   improve the security and stability of the supply chain.
                                                                                                              Medium and
                                                  material prices and transportation costs across
                                                  the supply chain, increasing procurement cost                long term
                                                                                                                                  increase       Closely monitor the impact of climate and natural disasters on                      Total greenhouse gas emissions - ???,??? tons of CO?e
                                                                                                                               Revenue decline   the market and formulate response measures in advance.
                                                  risks.
                                                                                                                                                                                                                                     Greenhouse gas emission intensity - ??.?? tons of CO?e per ??,??? people
                                                                                                                                                 Optimize the carbon emission management mechanism,
                                                                                                                                                                                                                                     Greenhouse gas emissions (Scope ?) - ??,??? tons of CO?e
                  Reputation
                                                  Failure to meet the carbon reduction targets may                                               promote ESG governance, actively respond to the concerns of
                                                  pose reputational risk to the airport.                     Short, medium     Revenue decline   stakeholders regarding the company's climate-related issues,
                                                                                                              and long term                      and enhance information transparency while improving                                Greenhouse gas emissions (Scope ?) - ???,??? tons of CO?e
                                                                                                                                                 performance.
                                                                                                                                                                                                                         Note: Calculations are based on the Guangdong Province Corporate (Entity) Carbon Dioxide Emissions Reporting Guide (???? Revision).
Opportunity                                                                                                   Impact           Operational                              Solutions
                                                           Opportunity Description
 Category                                                                                                     Duration           Impact
                                                                                                                                                 Actively respond to t government policies on carbon peaking
             Technological Policy opportunities
                                                  As carbon peaking and carbon neutrality policies                                               and carbon neutrality, track subsidy and reward policies for
                                                  continue to gain momentum, participation in                                                    low-carbon pilot projects, actively apply for pilot projects such
                                                  government pilot programs related to green                                                     as low-carbon parks, energy conservation and carbon
                                                  development may create access to relevant                  Short, medium     Operating costs   reduction, and carbon emission reduction, and prioritize
                                                  subsidies.                                                  and long term        reduce        obtaining policy preferences and ?nancial support.
Opportunities
                                                  The Company may also explore carbon emissions                                                  Carry out comprehensive carbon accounting, establish a
                                                  trading and carbon sink projects to optimize                                                   ledger of carbon emission , clearly de?ne the current emission
                                                  carbon asset management.                                                                       status of the enterprise, develop CCER projects based on its
                                                                                                                                                 own conditions, and form tradable carbon assets.
                                                  As a capital-intensive asset operator, the airport                                             Identify and capture energy-saving opportunities
             opportunities
                                                  accounts for a relatively large share of total equipment                                       through low-carbon technology research and develop-
                                                  energy consumption and carbon emissions. There              Short, medium    Operating costs   ment, equipment retro?tting, process optimization and
                                                  remains considerable room to improve energy-saving           and long term       reduce        management upgrades, thereby continuously improving
                                                  technologies in the future, generating both economic                                           energy e?ciency and reducing unit energy consump-
                                                  and environmental bene?ts.                                                                     tion.
??                                                                                                                                                                                                                                                                                                                                                        ??
  ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                                 Optimizing Resource Utilization
Optimizing Resource Utilization                                                                                                        We also established the Yunqiao Integrated Equipment Management System. The Company actively promoted the use of alterna-
                                                                                                                                       tive facilities for aircraft auxiliary power units (APUs), independently developed this system, continuously improve the utilization rate
                                                                                                                                       of such facilities, achieving ???% usage for parked ?ights. The system comprehensively records the aircraft energy consumption data
We place strong emphasis on resource conservation and energy e?ciency improvement across all aspects of our operations. By             across of all airlines, creates a "carbon footprint" for aircraft emission reduction. By
focusing on energy conservation, water conservation and material e?ciency, we strive to build a resource-e?cient and environmen-       integrating equipment monitoring, ?ight scheduling, machine sign-o?, energy conserva-
tally friendly green enterprise.                                                                                                       tion and emissions reduction, the system supports pollution reduction, carbon reduction
                                                                                                                                       and green airport development. Over the past three years, Baiyun Airport has cumula-
                                                                                                                                       tively reduced the carbon emissions by approximately ??,???.?? tons and reduced paper
 Energy Management                                                                                                                     documentation by ?.??? million sheets.
In ????, we further enhance the precision of energy management. On the basis of controlling the comprehensive energy consump-
tion and carbon emissions, we have added the target controls for six other energy categories. At the beginning of the year, based on       Optimizing Energy Consumption Structure of Baiyun Airport
the energy consumption of each subordinate unit in the previous year and the changes in the asset boundaries, business activities
                                                                                                                                       We continue to increase the proportion of clean energy usage. At present, the total
during the current year, we determined the energy consumption targets for each subordinate and conducted ongoing supervision.
                                                                                                                                       installed photovoltaic capacity completed across Baiyun Airport has reached ??.??
We continuously improve our energy management system, persist in promoting energy-saving renovations through technological             MWp, of which ?.?? MWp was developed and constructed by Baiyun Airport. We also
means, enhance energy utilization e?ciency, and develop and utilize clean energy, further reducing the use of traditional fossil
                                                                                                                                       continued to tap into renewable energy project resources and explore implementation
energy such as oil, to promote the green and low-carbon development. The Company's "??th Five-Year Plan" states that by ????, the
                                                                                                                                       pathways for carbon peaking and carbon neutrality at Baiyun Airport.
comprehensive energy consumption will not exceed ??,??? tons of standard coal equivalent. In ????, the Company's comprehensive
energy consumption target was set at no more than ??,??? tons of standard coal equivalent. During the reporting period, both energy
management targets were achieved.
                                                                                                                                           Promoting Advanced Energy-saving and Carbon-reduction Technologies
                                                                                                                                       By adopting the contract energy management approach and introducing advanced energy-saving and carbon-reduction technolo-
                                                                                                                                       gies, Baiyun Airport further enhanced the e?ectiveness of its energy conservation and emissions reduction e?orts.
      Annual target for comprehensive energy consumption:              Total consumption of purchased electricity: ???.??
      ??,??? tons of standard coal equivalent                          million kWh
      Total energy consumption for the year: ??,???.?? tons            Total consumption of diesel: ?,???.? tons
                                                                                                                                                   Case: Independent Upgrade and Retro?t of the Building Control System of Terminal ?
      of standard coal equivalent                                      Total consumption of gasoline: ???.?? tons
      Clean energy consumption: ??? tons of standard coal              Comprehensive energy consumption per ??,???                       In ????, the air conditioning system of Terminal ? was upgraded. Based on the existing automatic control system of the Honey-
      equivalent                                                       passengers and cargo volume: ?.?? tons of standard                well air conditioning in Terminal ?, the Gree air conditioning control system for VRV equipment was integrated and renovated.
      Share of clean energy consumption: ?.?? %                        coal equivalent                                                   A uni?ed building control system for the two terminals was established to achieve the collaboration and control of the
      Total consumption of natural gas: ???,??? m?                                                                                       terminal’s air conditioning end-use equipment, the energy management platform and the ?ight information system, thereby
                                                                                                                                         reducing the energy consumption of air conditioning and labor costs. In ????, the annual energy consumption of the terminal
                                                                                                                                         was approximately ?% lower than the target level, resulting in energy savings of approximately ? million kWh.
     Carrying out the Digital Transformation of Energy Management
We independently developed an energy management system to enable real-time monitoring of energy data, unlock the value of
data resources, and drive Baiyun Airport into a new stage of platform-based management. By operating the energy management
system through an integrated platform, using“data?system?people”as the transmission chain, and enabling proactive transmission
of and early warning based on real-time data and information, we improved both cost e?ciency and management e?ectiveness in
energy use. Through the establishment and re?nement of three-level water
metering system, abnormal water consumption data can be promptly
identi?ed and ?agged. Focusing on passenger demand in terminal
buildings and the requirements of indoor air-conditioning environments,
we further explored the energy-saving potential arising from better match-
                                                                                                                                       We increased the utilization of clean energy, accelerated the replacement of fuel vehicles with electric vehicles and the promotion of
ing between building-side demand and heating and cooling supply,
                                                                                                                                       the application of new energy vehicles within the air?eld. At the same time, we continuously improved the construction of charging
dynamically adjusted the operating parameters of terminal air-condition-
                                                                                                                                       infrastructure, increase the number of charging piles, built photovoltaic car shelters and charging stations, to meet the charging
ing equipment and control system components, and maintained
                                                                                                                                       needs of airside support vehicles and external vehicles. In addition, we made full use of the photovoltaic resources of building
terminal-wide energy e?ciency at an optimal level.
                                                                                                                                       rooftops, expanded the scale of distributed photovoltaic installations, reduced the carbon emission intensity of airport operations
                                                                                                                                       through the consumption of renewable energy electricity to support the goal of carbon neutrality.
                                                                                                                                       In ????, Baiyun Airport had a total of ?,??? vehicles in operation, of which ?,??? were electric vehicles, representing ??.?% of all
                                                                                                                                       vehicles operating within the air?eld. A total of ??? charging piles had been installed.
??                                                                                                                                                                                                                                                                           ??
  ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                       Environmental Compliance Management
 Water Resource Management
                                                                                                                                          Environmental Compliance Management
We comply with the Water Law of the People’s Republic of China and other applicable laws and regulations, as well as relevant
standards of the Civil Aviation Administration of China. We use, conserve and protect water resources in a rational manner, strength-     We fully implement the Environmental Protection Law of the People's Republic of China and the Law of People’s Republic of China
en water management, and improve both water use e?ciency and recycling rates.                                                             on Environmental Impact Appraisal, establishing a "Three-in-One" Green Airport Operation Management System that integrates
                                                                                                                                          energy, environmental, and carbon emissions management. We have developed internal regulatory documents such as the Green
       ???? Water consumption target: ?,???,??? m?                                                                                        Airport Operation Management Manual and the Sewage Treatment Station Environmental Emergency Response Procedures, contin-
       Total water consumption: ?,???,??? m?                                                                                              uously advancing environmental risk identi?cation and evaluation. Through systematic management system certi?cations and
                                                                                                                                          training programs, we are enhancing full-lifecycle green airport management capabilities.
       Di?erence from annual target: ???,??? m? lower than target
                                                                                                                                          To gain a comprehensive understanding of the environmental conditions around the airport and provide decision support for airport
       Water consumption intensity: ??? m? per ??,??? passengers
                                                                                                                                          environmental management, we have established an integrated management system for monitoring multiple environmental param-
     Improving Water Conservation Management                                                                                              eters. This system continuously monitors the air quality within the airport area, including key indicators such as PM?.?, PM??, sulfur
                                                                                                                                          dioxide, and nitrogen oxides, to ensure that the air quality complies with national and local standards.
     We established and improved ?? water conservation and water use management systems and ? operational management
     systems to ensure clear guidelines, strict enforcement, and accountability of the implementation of water-saving.
     Using Water-saving Fixtures
     The water supply pipelines and sanitary ?xtures in terminal buildings all use water-saving devices. Daily inspections are carried
     out for water-using facilities in restrooms and pantries, and repairs are promptly arranged when needed.
     Carrying Out Water Conservation Awareness Activities
     Water-saving reminder signs are posted in water-using areas such as terminal areas, o?ce areas, canteens and restrooms, and
     employee training on water conservation is regularly conducted.
     Strengthening Water Conservation Management
     By Improving the three-level water metering system and using digital tools to enable real-time water use management and
     prompt warnings for abnormal water consumption, water leakage losses in the airside area were reduced by more than ??%.
 Developing the Circular Economy
                                                                                                                                                                                                                       Energy, environmental and carbon emissions
We actively respond to and develop the circular economy, strictly control plastic pollution, promote water recycling and reuse, and                                                                                    "Three-in-One" management system diagram
achieve high-quality and sustainable development.
                                                                                                                                                              Successfully passed the re-certi?cation of the Energy Management System and the supervision
     Promotion of plastic restriction requirements                                                                                                  Case
                                                                                                                                                              audit of the Environmental Management System in ????.
     We actively implement Guangdong Province's requirements based on the Plan for Civil Aviation Plastic Pollution Control
     Measures ????????? and the Opinions on Further Enhancing the Pollution Control of Plastics. Biodegradable plastics are now
     fully deployed in airport terminals, VIP lounges, parking buildings, hotels, and sta? canteens, covering all operational needs and
     locations of the airport.
     Rainwater recycling
     We established a rainwater collection and reuse system. The collected rainwater undergoes coagulation, ?ltration, and disinfec-
     tion processes before being directly pumped into the building's water supply network and used for landscape irrigation, curtain
     wall rinsing, and garage washing.
     Reclaimed Water Utilization
     We established a municipal reclaimed water reuse system. Reclaimed water treated by the airport wastewater treatment plant is
     transported through the pipeline network to the terminal and public areas, and is used for landscape irrigation, road washing,
     roof cooling, parking space cleaning, etc. The maximum transportation capacity can reach up to ??,??? cubic meters per day.
           Key Performance Indicators (KPIs)
                Further reduced the usage of plastic bags, and eliminated approximately ?.?? million non-environmental
                friendly plastic bags.
??                                                                                                                                                                                                                                                                          ??
  ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                           Strengthening Pollution Prevention and Control
Strengthening Pollution Prevention                                                                                                            Case
and Control
                                                                                                                                                         The Expansion Project of Baiyun Airport Sewage Treatment Plant
We adhere to the principles of demand-driven supply and compliant emissions, further ful?lling our environmental protection            To support the commissioning of Baiyun Airport’s Phase III expansion
responsibilities. We strengthen supervision and control over noise, waste, air emissions, and wastewater, minimizing operational       project, the sewage treatment system’s daily treatment capacity was
impacts on surrounding environments. In ????, no incidents of non-compliant emissions were recorded.                                   expanded from ??,??? m? to ??,??? m? in ????.
 Wastewater Management
We strictly comply with the Law of the People’s Republic of China on Prevention and Control of Water Pollution and the Integrated                                                Baiyun Airport Sewage Treatment Plant
discharge standard of water pollutants (DB??-???-????), formulating the Guangzhou Baiyun International Airport Sewage Discharge
Management Measures. Our full-chain water environment management system follows a "source control - process puri?cation -
end-of-pipe compliance" approach. Additionally, we undergo regular inspections by the Guangzhou Municipal Ecological Environ-
ment Bureau and Guangzhou Water Authority, with all discharge indicators consistently meeting National Class I and provincial                Honors
stringent standards. In ????, a total of ?.?? million cubic meters of wastewater was treated.
           Key Performance Indicators (KPIs)                                                                                          In June ????, Guangzhou Baiyun International Airport Co., Ltd. (Airport Sewage Treatment Station) was recognized as a ????
                                                                                                                                      Guangzhou "Green Credit Enterprise" (Green Label Enterprise).
           Total wastewater processed: ?.?? million m?
           Ammonia nitrogen emissions: ?.?? tons, reduction of ???.?? tons, discharge concentration: ?.?? mg/L
           Chemical Oxygen Demand (COD) emissions: ??.?? tons, reduction of ?,??? tons, discharge concentration: ?.??mg/L
                                                                                                                                     Comprehensive Air Emissions Management
           Recycled wastewater usage: ???,??? m?, ???% wastewater recovery rate
                                                                                                                                    We strictly comply with the Integrated Emission Standard of Air Pollutants (GB ?????-????) and promote the reduction and manage-
                                                                                                                                    ment of air emissions from aircraft, ground vehicles, and boilers to ensure timely treatment and compliance with emission standards.
     Advancing Wastewater Treatment and Water Resource Utilization E?ciency
The Baiyun Airport Sewage Treatment Plant currently operates a ??,??? m?/day wastewater treatment and reclaimed water system,
adhering to National Class I-A and provincial stringent discharge standards. The treated water is used for airport production,         Reduction of Aircraft Exhaust Emissions
landscaping, road cleaning, and also replenishes the airport’s landscape river and the Yayao Stream, e?ectively improving water
resource e?ciency and surrounding river ecosystems.                                                                                            Promote the construction and upgrading of alternative facilities for aircraft auxiliary power units (APUs) at parking
                                                                                                                                               stands, achieving a ???% utilization rate of APU alternative facilities.
     Implementing a Preventive Maintenance System for Zero Equipment Failures                                                                  In ????, ?? bridge-mounted aircraft ground air conditioners were replaced, e?ectively enhancing the support
                                                                                                                                               capacity of APU alternative facilities.
The sewage treatment plant formulates a detailed equipment maintenance plan annually based on on-site conditions, categorizing
                                                                                                                                               By optimizing runway operating modes, pre-managing ?ight pushbacks, optimizing apron taxiway routes to
all equipment into monthly, quarterly, and annual maintenance schedules, and strictly supervising maintenance personnel to
                                                                                                                                               enable simultaneous stand entry and exit for aircraft, and improving aircraft towing strategies, precise departure
execute maintenance tasks as planned.                                                                                                          sequencing and coordinated air-ground releases are achieved, reducing aircraft taxiing time.
     Building an Intelligent Monitoring Network for Stable Compliance
The sewage treatment plant make real-time adjustments to key operational parameters such as ?ow rate and pollution concentra-
tion based on in?ow volume, pollutant concentration levels, and process sections every day, ensuring the stable operation of the       Reduction of Vehicle Exhaust Emissions
wastewater treatment system.
                                                                                                                                               Except for speci?c models, ???% of newly added operational vehicles in the air?eld are new energy vehicles.
                                                                                                                                               Implement vehicle exhaust retro?tting and enforce exhaust emission admission requirements to ensure ???%
                                                                                                                                               compliance. The Airside Management Department has been continuously carrying out the ???? annual“two inspec-
                                                                                                                                               tions per year”program for civil aviation vehicles at Baiyun Airport. All civil aviation vehicles undergo ???% annual
                                                                                                                                               inspections every year. For vehicles that have been registered for ?? years or more (referred to as "old vehicles"), two
                                                                                                                                               annual inspections are conducted in the middle and end of each year. Vehicles failing exhaust emission tests are
                                                                                                                                               subject to deregistration of license plates, ensuring that ???% of in-use fuel vehicles operating within the airport
                                                                                                                                               meet emission standards.
                                                                                                                                               Strengthen fuel consumption management of vehicles and prioritize the use of new energy vehicles.
??                                                                                                                                                                                                                                                                        ??
  ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                            Advancing Ecological Governance
                                                                                                                                      Advancing Ecological Governance
 Comprehensive Waste Management
We adhere to the Law of the People's Republic of China on the Prevention and Control of Environmental Pollution by Solid Waste and
the Technical Policy on the Prevention and Control of Hazardous Waste Pollution by formulating the Guangzhou Baiyun International     We strictly adhere to the Law of the People’s Republic of China on Prevention and Control of Soil Contamination, the Water and Soil
Airport Solid Waste Management Measures. We ensure the harmless disposal of hazardous waste and strengthen the classi?cation          Conservation Law of the People’s Republic of China, and the Soil Environment Quality Risk Control Standard for Soil Contamination
management of aviation waste and terminal waste to improve resource utilization and minimize environmental impact.                    of Development Land (Trial)(GB?????—????). We actively respond to the national call for biodiversity conservation, upholding the
                                                                                                                                      principles of respecting, conforming to, and protecting nature. Throughout project construction and operational practices, we strive
        Category                           Waste Type                            Reduction and Harmless Treatment Method              to minimize our impact on ecosystems and create an ecologically harmonious and beautiful airport.
                                                                           Kitchen waste is collected and disposed by govern-
 General Waste (including                 Kitchen Waste                                    ment-designated units
   domestic waste and                      Other Waste                   Other waste is transported to Guangzhou's Fifth Thermal       Building a Garden Airport
   construction waste)                                                            Resource Power Plant for processing
                                        Lead-acid Batteries                  Lead-acid batteries and laboratory waste liquids,
      Hazardous Waste                laboratory waste liquids,             lubricating oils are centrally processed by a quali?ed          Green Construction
                                          lubricating oils                                  third-party company
                                                                                                                                      We developed a Special Dust Prevention Plan, specifying dust prevention requirements, control targets, responsibility divisions, and
                             Sludge from rainwater pipelines, sewage
     Sludge management                                                                                                                management measures within the airside area, comprehensively enhancing dust control levels to maintain environmental cleanli-
                             pipelines, septic tanks, and the regulat-      Centrally treated by quali?ed third-party companies
                                ing reservoir of the landscape river                                                                  ness and comfort. This ensures that surrounding operational areas remain una?ected by construction dust.
                                                                                                                                                                                              Before Construction:
           Key Performance Indicators (KPIs)
                                                                                                                                        A dedicated section on BIM model operation and maintenance management was incorporated into the Engineering Project
                                                                                                                                        Management Regulations, requiring all airport engineering projects to adopt three-dimensional modeling and Building
                                                                                                                                        Information Modeling (BIM) technologies. These tools are applied to provide scienti?c guidance throughout the entire project
                                                                                                                                        lifecycle, thereby reducing material waste and facilitating the implementation of green construction practices.
                General waste emissions: ?,??? tons, generation intensity: ?.? tons per ??,??? passengers, ???%
                compliance disposal rate
                Hazardous waste emissions: ??.?? tons, generation intensity: ?.???? tons per ??,??? passengers, ???%                                                                           During Construction:
                harmless treatment rate
                Sludge removed: ??,??? m?                                                                                               A dust control management organization was set up to implement the“Six ???%”dust prevention measures: ???% site
                                                                                                                                        enclosure, ???% hardening of construction roads, ???% material coverage, ???% water spraying during operations, ???%
                                                                                                                                        vehicle washing before exit, and ???% greening of long-term exposed soil. An online dust monitoring system was also installed
                                                                                                                                        to provide real-time monitoring of key indicators such as PM?.? and PM??, enabling immediate detection and control.
 Noise Management
                                                                                                                                                                                                After Construction:
We strictly comply with the Law of the People's Republic of China on the Prevention and Control of Noise Pollution and the Standard
of aircraft noise for environment around airport (GB ????-??) by establishing an airport noise monitoring system. Noise monitoring      Construction sites were promptly cleaned, land leveled, and residual soil and debris removed. Exposed ground was covered
points are set up in the airport and surrounding villages and towns to collect real-time data.                                          with greenery, paving, or other protective measures to prevent dust generation. Additionally, air quality in and around construc-
                                                                                                                                        tion sites was continuously monitored for a period after completion, evaluating the e?ectiveness of dust control measures and
We have established the Guangzhou Baiyun International Airport Noise Prevention and Control Leading Group and developed a
                                                                                                                                        making necessary adjustments.
coordinated airport noise prevention and control mecha-
nism featuring“one-to-one”coordination between internal
and external parties and“point-to-area”coordination within
the airport. We regularly hold meetings with relevant
internal and external parties on Baiyun Airport’s noise
prevention and control work. Based on noise-related
complaints, routine monitoring results, and progress in new
industry noise-control technologies, we prepare quarterly
brie?ngs on noise prevention and control and circulate them
on a regular basis to relevant internal departments as well as
external government and public institutions for timely
information sharing.
??                                                                                                                                                                                                                                                                          ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                                Advancing Ecological Governance
     Green Buildings                                                                                                                            Interior Greenery Layout within the Terminal
The T? Terminal is the ?rst large-scale terminal in China to incorporate a multi-garden landscape concept. It features two carefully
                                                                                                                                                On the fourth-?oor departure hall of T?, six“Kapok ?ower”-shaped check-in islands are installed, with the rear sections fully
designed airside outdoor gardens, together with several smaller landscaped spaces including the podium garden, GTC rooftop
                                                                                                                                                covered by a combination of real and arti?cial greenery.
garden, and other outdoor gardens. With a total garden area of nearly ??,??? square meters, it Is currently the largest airside natural
ecological garden terminal in China.                                                                                                            The Greater Bay Area Plaza features eight orchid-themed petal islands.
                                                                                                                                                Green walls are installed in the premium lounges on both the east and west sides and near the escalators connecting the
                                                                                                                                                fourth and ?fth ?oors.
      Themed Gardens                                                                                                                            A nearly ??-meter-high vertical green wall is located on both sides of the central shared atrium.
                                                                                                                                                In the baggage claim halls on both sides of the central bridge, landscape planters are integrated with the staggered aluminum
     The East Garden                                                                                                                            wall panel design.
 The East Garden takes“?owers”as its central theme and“time”as its narrative thread, forming three themed spaces:                               In addition, landscape ?ower boxes are widely arranged across areas such as the check-in zone, departure hall and arrival
 “Lake-Origin Flower Valley,” “Silk Road Flower Boat,”and“Borderless Flower Waterfall.”Covering an area of approximately                        pick-up areas, allowing passengers to experience greenery throughout the terminal.
 ?,??? square meters, the garden includes a branch exhibition area of the South China Botanical Garden, showcasing more
 than ?? species of exotic plants from ?ve continents, such as Jasminum grandi?orum, variegated lemon trees, European olive
 trees, Rotheca microphylla (musical note), and Dwala Aloe. The East Garden has now become one of the botanical garden’s
 science education and outreach sites.
     The West Garden
 The West Garden features three themed spaces:“Cascading Falls and Cedar Shadows,”    “Mystic Valley Forest,”and“Pristine
 Jade Pool.”A green plant curtain wall composed of more than ??? plant species forms a prominent landscape element. In the
 “Mystic Valley Forest”area, ?? brazilian ironwoods are arranged in combination with two rows of mirrored matrix walls,
 creating layered spatial scenery and a distinctive natural atmosphere.
                                                                                                                                          Establishing an Ancient Tree Park
                                                                                                                                          During the Phase III expansion of Guangzhou Baiyun International Airport, ancient trees and their associated resources within the
                                                                                                                                          construction area were relocated and protected. A total of ? ancient trees and ?? successor trees were transplanted for conservation,
                                                                                                                                          while ? ancient tree was preserved in its original location.
??                                                                                                                                                                                                                                                                          ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                           Advancing Ecological Governance
      Environmental Protection and Energy E?ciency:                                                                                       Land Ecology and Greening
      Taking into account the characteristics of a hot and humid climate, the terminal integrates a range of internationally              We strictly comply with the Guangdong Province Urban Greening Regulations and the Guangzhou Greening Regulations,
      advanced green and low-carbon technologies. Several innovative technologies were implemented at scale for the ?rst                  formulating the Guangzhou Baiyun International Airport Co., Ltd. Greening Management Measures based on our airport’s
      time in terminal buildings, including roof skylight water-spray evaporative cooling for passive temperature reduction,              greening practices. We uphold the "Three-Quality Enhancement" concept in green construction management, consistently
      integrated control of building envelope, air-conditioning and lighting systems, and a smart energy management system.               placing strong emphasis on the protection of public green spaces throughout the process while striving to enhance the overall
      These innovations contribute to the development of a Three-Star Green Building terminal, e?ectively reducing energy                 quality of landscape greenery.
      consumption, carbon emissions, and operating costs.                                                                                 Centered on the theme of“Green and Beautiful Greater Bay Area, Vibrant National Games,”we have further improved the
                                                                                                                                          airport’s landscape greening quality to create a warm and welcoming atmosphere for visitors. A rose garden has also been
                                                                                                                                          developed to establish a distinctive ?oral landscape landmark at the airport. The airport’s total greening coverage area has
        Passive evaporative cooling technology using water spraying on skylights: An innovative roof-mounted misting evapora-
                                                                                                                                          reached ?.???? million square meters.
        tive cooling system has been installed over an area of approximately ??,??? square meters, with more than ?? spray
        points. Experimental data show that the system can reduce the external surface temperature of the building envelope by
        ?????°C and decrease solar heat gain by ??%???%, achieving simultaneous improvements in energy e?ciency, water
        conservation, and indoor thermal comfort, while possessing signi?cant socio-economic bene?ts and o?ering strong
        potential for broader application.
        High-e?ciency building envelope system: Insulated glass and high-performance thermal insulation materials are applied
        to enhance the thermal performance of the building envelope, reducing overall building energy consumption by more
        than ?% compared with national standards.
       Optimized daylighting and shading design: Daylighting skylights and operable vents are combined with internal
                                                                                                                                                P? Parking Lot Landscaping: landscape ?ower beds                   Rooftop Greening: P? Building Rooftop Rose Garden
       shading devices to enhance natural lighting conditions. Through simulation analysis, appropriate fa?ade shading
       con?gurations were determined and integrated with architectural self-shading and indoor electric shading systems,
       improving thermal and visual comfort while reducing arti?cial lighting demand.
                                                                                                                                         Multi-Species Animal Management
                                                                                                                                    An integrated bird detection and dispersal system has been established, utilizing radar and electro-optical technologies to conduct
       Natural ventilation optimization: Based on the distribution of wind pressure across                                          full-area monitoring. Based on detection results, the system automatically activates on-site acoustic bird deterrent equipment to
       the building surface and the depth characteristics of interior spaces, a“low-level air                                       disperse birds. In combination with system data analysis and on-site researches, management measures have also been implement-
       intake and low-level exhaust” air?ow organization strategy was adopted to                                                    ed for insects, mollusks, and aquatic animals, addressing bird hazards from a food-chain perspective. Laser devices and micro-resi-
       optimize spatial layout, reduce stagnant air zones, and improve natural ventilation                                          due bird deterrent systems are used for real-time bird dispersal. Comprehensive soil area management has also been carried out,
       performance. At the same time, indoor environmental conditions are intelligently                                             including the planting of Bermuda grass (Cynodon dactylon) to reduce potential food sources for birds.
       regulated. CFD simulations are used to optimize the layout of air-conditioning                                               Through the integration of acoustic deterrence, optical warning systems, ecological regulation, and real-time monitoring and early
       terminals in large spaces, and together with air quality sensing systems and                                                 warning mechanisms, reducing bird activity in runway areas and other critical take-o? and landing zones, lowering the probability of
       puri?cation devices, enable intelligent regulation of indoor air?ow and air quality,                                         birds entering the airside area. While enhancing the safety margin of aviation operations, these measures also help reduce the risk of
       thereby enhancing passenger comfort.                                                                                         bird?aircraft interactions and contribute to the protection of bird populations. Looking ahead, we will continue to strengthen ecologi-
                                                                                                                                    cal research and management innovation, promoting long-term harmony between airport operations and the surrounding ecologi-
                                                                                                                                    cal environment, and achieving coordinated development between operational safety and ecological value.
       Water resource recycling system: A reclaimed water reuse system has been established, with ???% of treated reclaimed
       water used for applications such as fa?ade cleaning. The utilization rate of non-traditional water sources for landscaping
       irrigation exceeds ??%, signi?cantly improving water use e?ciency.
       Green building materials and localized procurement: Environmentally friendly building materials certi?ed under green
       product standards are widely adopted, and priority is given to locally sourced materials to reduce carbon emissions
       associated with building material production and transportation.
??                                                                                                                                                                                                                                                                      ??
 Guangzhou Baiyun International Airport Co., Ltd.                                                                                                                                                                                            Promoting Green Awareness
Promoting Green Awareness                                                                                                                        Conducting Environmental Awareness Campaigns
Through environmental protection knowledge dissemination, we actively promote the concepts of low-carbon, energy-saving, and               We actively organize public-interest tree-planting activities and carry out publicity and training on green and environmental protec-
eco-friendly within the company and among the wider public. By doing so, we encourage more stakeholders to internalize green               tion, promoting the environmental protection concept to take root among the public and enhancing environmental awareness in
values and translate them into practical actions, jointly contributing to the development of a green and low-carbon society.               society. We widely promote the concept of Xi Jinping Thought on Ecological Civilization, disseminate the principles of energy conser-
                                                                                                                                           vation, carbon reduction, and green development, and help foster the formation of green and low-carbon modes of development as
                                                                                                                                           well as production and lifestyles. Throughout the year, ?,??? employee participations were organized in voluntary tree-planting
     Practicing Green O?ce Initiatives                                                                                                     activities, with ??? new saplings planted.
     Focusing on re?ned management, implementing energy-saving transformation, and
     strengthening the hardware foundation for green o?ce practices
                                                                                                                                                 National Energy Conservation Awareness Campaign
     To address energy waste in o?ce buildings, the Company organized and implemented comprehensive energy-saving upgrades
     to lighting and air-conditioning systems. First, the lighting system was upgraded with intelligent controls through measures such           From June ?? to ??, promotional materials for the National Energy Conserva-
     as subdividing control zones, optimizing circuit design, and installing smart sensing devices, enabling automated lighting                  tion Publicity Week were displayed in T? and T? terminals.
     management that activates when people arrive and gradually turns down when they leave. Second, re?ned management of the
     air-conditioning system was introduced, with targeted solutions and system optimization designed for di?erent areas and time
     periods based on varying usage demands.
     Strengthening communication and guidance to foster a company-wide culture of energy
     conservation and enhance employees’ awareness of green o?ce practices
     Awareness signage has been placed in o?ce areas, meeting rooms, and other locations to promote the concept that“conserva-
     tion begins at your ?ngertips.”Employees are encouraged to start from everyday actions—saving every kilowatt-hour of electric-
     ity, every drop of water, and every sheet of paper, gradually cultivating a culture in which everyone practices conservation in all
     aspects of work.
     Optimizing digital services and advancing smart management systems to enhance                                                               Green Baiyun, Youth in Action
     administrative e?ciency in green o?ce practices                                                                                             On March ??, Guangzhou Baiyun International Airport jointly organized a
     The Company continues to deepen the application of digital tools in administrative services and further improve the functional-             tree-planting activity titled“Green Baiyun, Youth in Action”at the“Youth
     ity of the“Baiyun Administration”online service platform to support the implementation of green o?ce practices. First, the                  Forest”in the airport’s southeastern working area, together with multiple
     coverage of online services has been expanded by incorporating ?? types of services, including visitor registration and property            organizations including the Baiyun Airport Immigration Inspection Station,
     maintenance requests, into a uni?ed digital platform, enabling“more data processing online and fewer in-person visits.”                     Baiyun Airport Customs, the Second Terminal Area Police Station, and the
     Second, business processes have been progressively integrated into online systems, gradually replacing traditional paper-based              Guangzhou Airport Construction and Operation Group.
     approval procedures, reducing the use of paper documents while improving approval e?ciency and supporting the transition
     toward paperless o?ce operations.
??                                                                                                                                                                                                                                                                           ??
                                                     “Cloud”Social
                                                      Empowering Connectivity,
                                                      Advancing Responsibility
                                                      We place great importance on passengers’ travel experience and
                                                      continue to enhance safety management and improve service quality,
                                                      ensuring a top-tier travel experience with world-class safety and service
                                                      standards. Meanwhile, we regard employees, partners, and local
                                                      communities as vital stakeholders in our sustainable development
                                                      journey. We actively embrace our responsibilities and work together
                                                      with stakeholders to build a better future.
     Strengthening Hub E?ciency                 ??
     Safeguarding Safe Travel                   ??
     Cultivating Service Excellence             ??
                                                                       Key I ssues
     Stimulating Innovation Vitality            ??
                                                                 Product and Service Safety and Quality, Innova-tion-
     Emphasizing Technology Ethics              ??
                                                                 Driven Development, Technology Ethics, Data Security
     Protecting Customer Privacy                ??               and Customer Privacy Protection, Employee Rights and
                                                                 Interests Protection, Supply Chain Securi-ty, Social
     Protecting Employee Rights and Interests   ??               Contribution, Rural Revitalization
     Standardizing Supply Chain Management      ??
     Practicing Social Responsibility           ??
??                                                                                                                                ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                        Strengthening Hub E?ciency
Strengthening Hub E?ciency                                                                                                       Continuous Improvement of Multimodal Transportation
Taking the new operational layout as an opportunity, the airport has optimized hub functions and the route network,
                                                                                                                                    Optimize connectivity between the airport and surrounding transport networks
injecting momentum into the economic growth of the Guangdong?Hong Kong?Macao Greater Bay Area.
                                                                                                                                  Add two new airport expressway connector routes to establish seamless linkage with the intercity railway network of the
                                                                                                                                  Guangdong?Hong Kong?Macao Greater Bay Area, forming a one-hour transportation circle connecting Guangzhou,
     Core Operational Indicators Leading the Industry                                                                             Shenzhen, Foshan and other surrounding cities
      In ????, passenger throughput reached ??.?? million, cargo and mail throughput ?.?? million tonnes, and aircraft
      movements ???,???, representing year-on-year increases of ?.?%, ?.?%, and ?.?%, respectively, all ?%??% higher                Upgrade the airport’s internal transfer system
      than the industry average. Transfer passengers totaled ??.???? million, representing a year-on-year increase of
      ??.??%; the transfer rate reached ??.??%, up ?.?? percentage points year-on-year. The on-time ?ight departure rate          Introduce 12 additional shuttle buses and optimize one transfer route (the T1?T2?T3 dual-loop shuttle route). Add a new
      reached ??.??%, the contact stand bridge rate ??.??%.                                                                       route linking Gaozeng Metro Station and the T3 East Passenger Terminal, improving internal passenger transfer efficiency
                                                                                                                                  by 25%
                                                                                                                                    Enhance parking facilities
     Contribution to Regional Economy
                                                                                                                                  Add 2,600 parking spaces (some not yet in operation) and launch a smart parking system featuring “seamless payment
                                                                                                                                  and rapid passage,” significantly improving the passenger parking experience.
      In ????, leveraging its hub advantages, the airport helped create ??,??? new jobs in the airport-based industry and
      indirectly contributed to a ?.? percentage point increase in GDP growth in northern Guangzhou. A total of ?? exhibi-
      tion-related service initiatives were implemented, representing a ??.??% year-on-year increase.
                                                                                                                                    Establish a dedicated free emergency transfer service
                                                                                                                                  Deploy shuttle buses and small vehicles on site with dynamic dispatch based on passenger volume, ensuring efficient
                                                                                                                                  transfers and smooth travel for passengers who mistakenly arrive at the wrong terminal
     Continued Expansion of the Global Route Network
                                                                                                                                Currently, there are two transfer options between T? and T?
      In ????, the airport successfully facilitated ?? new, increased, or resumed international and regional passenger routes        One is the free shuttle bus service (T??T??T? dual loop, with the T? boarding point located at Gate ?? on the third ?oor
      with ?? airlines, adding ?ve new international destinations, including Surabaya, Almaty, Algiers, Madrid, and Darwin,          of the North Departure Hall, the T? boarding point at the East Passenger Terminal of the GTC, and the T? boarding point
      and restoring three international destinations including Vancouver, Kolkata, and Delhi. Guangzhou Baiyun International         at Bay ?? of the East Passenger Terminal);
      Airport actively responded to national initiatives such as the Global South, South?South Cooperation, and the Belt and
      Road Initiative, achieving breakthroughs in strategic route expansion. The total number of destinations served reached         The other is the free metro transfer between Airport South Station and Airport North Station.
      ???.
                                                                                                                                Transportation connections for T?
                                                                                                                                     Direct intercity rail service to Baiyun Airport East              Taxis (boarding point at Gate ?? of T? Terminal)
                                                                                                                                     Railway Station
                                                                                                                                     The Gaozeng Metro Station?T? Terminal dedicated                   Ride-hailing services (boarding points located on
                                                                                                                                     bus line (fare: RMB ?)
                                                                                                                                                                                                       the mezzanine and second ?oor of P??)
                                                                                                                                     The free shuttle bus (T??T??T? dual loop)
??                                                                                                                                                                                                                                                              ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                       Strengthening Hub E?ciency
     Case:                                                                                                                       Case:
              “Yangcheng Flower Crown” in Bloom ? Commissioning of T? Terminal at Guangzhou                                                 Upgrading Baiyun Airport’s Integrated Multimodal Transportation System to Support
               Baiyun International Airport                                                                                                 the“Aerial Gateway”of the Guangdong?Hong Kong?Macao Greater Bay Area
     On the morning of October ??, ahead of the opening of the ??th National Games of China, a commissioning ceremony for        With the commissioning of the T? Terminal, the airport’s integrated transportation system has been further upgrad-
     T? Terminal of Guangzhou Baiyun International Airport was held at the Bay Area Plaza of the T? Terminal. On the same        ed—the T? Ground Transportation Center has been put into operation, the Second Airport Expressway has been
     day, the airport’s ?fth runway was also o?cially put into operation.                                                        connected, and Baiyun Airport East Railway Station of the intercity railway has been opened simultaneously; in the
                                                                                                                                 future blueprint, high-speed rail will pass through the airport and metro networks will become increasingly dense.
     The commissioning of the T3 Terminal and the fifth runway marks the completion and operation of the Phase III
     Expansion Project of Guangzhou Baiyun International Airport, which took five years to construct with a total investment     The T? Ground Transportation Center (GTC), which commenced operation simultaneously with the T? Terminal, is
     of RMB 53.77 billion. This milestone further enhances the airport’s position as a comprehensive international aviation      located on the south side of the terminal and has a construction area of ???,??? square meters. It is a comprehensive
     hub serving as a gateway in all directions and providing strong transportation support for Guangdong’s efforts to           transfer hub integrating highways, railways, urban public transport and aviation transport. The center adopts a
     advance Chinese modernization.                                                                                              multi-level circulation design: underground levels connect multiple rail transit systems (including the newly opened
                                                                                                                                 intercity railway as well as high-speed rail and metro lines under construction), the ?rst ?oor connects to the terminal
     The T? Terminal consists of a main terminal building, east, west, and north concourses, as well as boarding bridges.
                                                                                                                                 arrival hall, airport bus services and taxi boarding points, and the second ?oor connects to the terminal departure hall
     The main building provides services for departing, arriving, and transfer passengers, including check-in, security check,
                                                                                                                                 and terminal shuttle buses. Supporting facilities include the P?? and P?? parking structures, providing approximately
     joint inspection, baggage claim, and transfer processing. The east and west concourses serve domestic passengers,
                                                                                                                                 ?,??? parking spaces, as well as parking guidance and reverse vehicle search systems to facilitate parking for ride-hail-
     while the north concourse serves international passengers. The T? Ground Transportation Center (GTC) adopts an
                                                                                                                                 ing vehicles and private cars. Through its vertically integrated connection layout, the T? Ground Transportation Center
     integrated air?land transfer design, creating a comprehensive transportation hub that enables seamless transfers
                                                                                                                                 enables passengers to realize one-stop transfers among multiple modes of transportation.
     among air, road, and rail transport. The rail system has a total scale of six platforms and ?? tracks, and baggage
     check-in facilities are located on the basement level ?, allowing rail passengers to check in and drop baggage on the       Located on the B? level of the T? Ground Transportation Center at Guangzhou Baiyun International Airport, Baiyun
     same level for departures, thereby e?ciently facilitating air?rail intermodal transport.                                    Airport East Railway Station of the Guangzhou East Ring Intercity Railway was opened simultaneously with the T?
                                                                                                                                 Terminal on October ??. With the opening of the Xintang-Baiyun Airport-Guangzhou (Xinbaiguang) Intercity Railway
                                                                                                                                 (T? Terminal?Zhuliao section), the two intercity railways run in parallel between Zhuliao and the airport section. From
                                                                                                                                 the T? Terminal of Guangzhou Baiyun International Airport, the fastest travel time to Guangzhou South Railway
                                                                                                                                 Station is less than ?? minutes.
??                                                                                                                                                                                                                                                           ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                                    Strengthening Hub E?ciency
                                                                                                                                          Focusing on Tourism Friendliness
  Optimizing the Passenger Travel Experience
Focusing on hub services, tourism friendliness, aesthetic experiences, and human-centered care, the Company prioritizes meeting
passenger needs by launching diversi?ed service products and creating an e?cient, delightful, and high-quality travel experience         Focusing on build a high-quality tourism distribution hub, develop a high-level tourism destination, and create a highly friendly
that caters to the diverse needs of di?erent passenger groups.                                                                           tourism ecosystem, the airport released the“???? Tourism-Friendly Airport Development Plan,”striving to establish a benchmark for
                                                                                                                                         tourism-friendly airports.
 Upgrading Hub Services
                                                                                                                                           Services for international visitors support city walk tourism
                                                                                                                                           A“one-stop service counter”for foreign travelers has been launched, o?ering ?ve core functions, including payment, communica-
  Enrich service products to strengthen the international hub                                                                              tion, transportation, cultural tourism, and exhibitions, along with multilingual brochures in seven languages and ??-hour in-per-
                                                                                                                                           son consultation services. The service fully covers the needs of foreign travelers in dining, accommodation, transportation,
                                                           Policies for international through check-in with Shenzhen Airlines have
                                                                                                                                           sightseeing, shopping, and leisure, serving ??,??? international passengers.
                                                           been implemented, and domestic-to-international transfer products
                                                           with Spring Airlines and ? Air have been launched. In collaboration with
                                                           four airports, including Jinan Yaoqiang International Airport, Nanchang       Team-friendly services ensure smooth group travel.
                                                           Changbei International Airport, Guiyang Longdongbao International
                                                           Airport, and Beijing Daxing International Airport, the airport pioneered      The industry’s ?rst“Group Travel Concierge”service provides comprehensive support for groups of ten or more travelers, includ-
                                                           an international transfer reservation service within the industry, contrib-   ing one-click reservations, early information access, dedicated assembly areas, accelerated check-in, and priority security check.
                                                           uting valuable exploration toward building a comprehensive interna-           During the year, ?? groups comprising ??? passengers bene?ted from the service.
                                                           tional aviation hub serving as a gateway in all directions.
                                  Convenience measures have been introduced to enhance border clearance e?ciency                           Air?tourism integration enriches transfer experiences
  Together with ?? partner organizations, the airport established an Airport                                                               The airport has innovatively launched a“science education + relaxation”airport micro-tourism program, collaborating with
  Facilitation Committee and released ten facilitation initiatives. The international                                                      cultural and tourism authorities and travel agencies to o?er ???-hour visa-free transit tourism products covering major attractions
  through-check“full entrustment”model of China Southern Airlines has been                                                                 in Guangzhou and landmark destinations in other regions, transforming transit journeys into engaging travel experiences.
  implemented, along with a one-stop customs clearance process upon arrival. Full
  support has been provided for interline international transfer baggage
  through-check between di?erent airlines and cross-terminal international
  connecting passenger baggage check-through, while electronic boarding pass
  clearance for international ?ights has been implemented to continuously
  improve border clearance e?ciency and passenger experience.
  Capacity expansion and e?ciency improvements have further optimized the transfer experience
                                                                  Expansion of transfer lines between two terminals has
                                                                  improved transfer baggage handling e?ciency by ??%.
                                                                  Self-service transit gates have reduced processing time to ??
                                                                  seconds per passenger, while transfer rest areas and temporary
                                                                  entry areas have been expanded and upgraded to continuous-
                                                                  ly enhance the passenger transfer experience.
                                                   Close collaboration has strengthened mutually bene?cial partnerships
     In cooperation with China Southern Airlines, cross-airline, cross-ter-
     minal, and cross-agent transfer operations have been launched,
     pioneering a comprehensive decision-making mechanism for
     transfer operations covering aircraft, ground operations, passen-
     gers, and baggage. A dedicated airline transfer concierge service has
     also been introduced to provide full-process, full-scenario, and
     full-cycle coordination and support for airline transfer products.
??                                                                                                                                                                                                                                                                         ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                                        Strengthening Hub E?ciency
     焕新美学体验                                                                                                                               Cultivating Human-Centered Care
The new Terminal ? of Guangzhou Baiyun International Airport has been unveiled, ushering in a new era of                                   Enhanced identi?cation for passengers with special needs has been implemented
warm-toned terminal design. It features the industry’s ?rst landside panoramic observation tower and ?agship restroom facilities.        The airport has introduced the “Cordial Service, Mutual Assistance” series of labels for passengers with special needs, including
As the ?rst terminal to adopt a large-scale public art system, T? showcases nine public artworks created by renowned artists from        First-Time Flyer Pass, Late Arrival Pass, Care Pass, Expectant Mother Pass, Honor Pass, and Transfer Pass. A total of ?,??? labels were
China and abroad, creating an accessible artistic space for the public.                                                                  issued during the year.
                                                                                                                                           Innovative services for passengers traveling with pets have been introduced
                                                                                                                                         The airport has established China’s ?rst pet terminal, providing services such as pet air transport, check-in and waiting areas for
                                                                                                                                         pets, transfer stations, dedicated pet pick-up and drop-o? vehicles, temporary care, light medical services, and pet supplies retail.
                                                                                                                                         The initiative attracted coverage from multiple media outlets, including CCTV News App, with more than ??? media reports, and it
                                                                                                                                         trended on platforms such as the Baidu Livelihood Index and Weibo local trending lists.
                                                                                                                                           Elderly-friendly services have also been optimized
                                                                                                                                         The “Carefree Senior Travel” program o?ers one dedicated service, three free bene?ts and three priority services, including
                                                                                                                                         exclusive service reservations, free electric carts, free lounge access, free airport express bus rides, priority security check, priority
                                                                                                                                         boarding, and priority transportation services. A total of ??? exclusive identi?cation stickers were issued during the year. In addition,
                                                                                                                                         the “Silver Hair Dining Table” initiative partnered with more than ?? restaurants to o?er special discounted meals and compli-
                                                                                                                                         mentary snacks to passengers aged ?? and above, supporting the development of an age-friendly airport, demonstrating the social
                                                                                                                                         responsibility of state-owned enterprises.
                                                                                                                                           Services for passengers with disabilities have been further re?ned
                                                                                                                                         Passengers with mobility challenges are provided with comprehensive escort services from vehicle door to aircraft cabin door, with ??,???
                                                                                                                                         wheelchair passengers served during the year. “Writing boards” have been placed at information desks, check-in counters, and security
                                                                                                                                         checkpoints to facilitate communication with hearing-impaired passengers, ensuring smooth and inclusive interactions.
The P? rooftop garden has been o?cially designated as the First Themed Garden within the South China National Botanical
Garden's Urban-Integration System—The Specialized Woody Ornamental Plant Display Garden. Featuring over a hundred varieties
of roses arranged into vibrant ?oral landscapes, the garden has become a popular attraction where passengers experience the
romantic charm of Guangzhou, known as the “City of Flowers.”
The VIP security check area has also been upgraded. The environment in the T? VIP security check area has been decorated
with clustered ?ower beds, cool-toned patterned carpets, and warm wooden wall panels, creating a more re?ned and elegant
atmosphere.
Distinctive boarding passes have also been introduced. For the ?rst time, a “three-color aircraft window” design is used
to highlight key information intuitively, creating a boarding pass that combines convenience, aesthetic value, and collectible signi?-
cance. Many passengers have shared photos of the design on social media.
??                                                                                                                                                                                                                                                                              ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                                     Strengthening Hub E?ciency
  Building Bridges for Cultural Heritage
                                                                                                                                                                                              Cartoon Exhibition
By integrating culture into services, the airport incorporates regional cultural characteristics into hub operations, creating a public
                                                                                                                                            Co-organized by the Publicity Department of the CPC Guangzhou Municipal
service space that combines transportation functions with cultural value and promotes the in-depth integration of cultural heritage
                                                                                                                                            Committee, the Cyberspace Administration of the CPC Guangzhou Munici-
and service experiences. Throughout the year, more than ?? cultural activities were held, covering music, intangible cultural heritage,
                                                                                                                                            pal Committee, and Guangzhou Baiyun International Airport, the“This Is
art exhibitions, dance, and interactive events. Collaborations with organizations such as the Guangdong National Orchestra and
                                                                                                                                            Guangzhou” Xiao Lin Cartoon Exhibition featured interactive cultural
Chimelong performance teams created vibrant cultural experiences for passengers.
                                                                                                                                            experiences such as traditional hairpin-making, writing Spring Festival
                                                                                                                                            couplets, displaying Year of the Snake postcards, and stamping zodiac
                                                                                                                                            commemorative seals. The exhibition guided visitors through the many
 “Golden Snake Brings Blessings and Prosperity”Spring Festival Travel Season Activities                                                     facets of Guangzhou, allowing them to experience the warmth and charm
                                                                                                                                            of the city.
                                                                         During the Spring Festival travel season, Guangzhou Baiyun
                                                                         International Airport organized a series of themed activities
                                                                         titled “Golden Snake Brings Blessings and Prosperity.”
                                                                         Cultural programs included traditional Chinese folk music
                                                                         performances by the Guangdong National Orchestra, Chimel-                                                      “Summer Brilliance”Summer Travel Season Activities
                                                                         ong children’s circus parades, Cantonese opera performanc-
                                                                         es, group rope-skipping shows, lion dances, Yingge dance
                                                                                                                                                                                                  The “Summer Brilliance” series of summer travel season activities
                                                                         performances, acrobatic performances, choral concerts, and
                                                                                                                                                                                                  covered ?ve themes—food, enjoyment, travel, shopping, and
                                                                         traditional Spring Festival calligraphy activities. These events
                                                                                                                                                                                                  children—across ?? programs. Activities included cloud treasure hunts,
                                                                         created a festive atmosphere, promoted traditional Chinese
                                                                                                                                                                                                  DIY lacquer fan and facial mask workshops, the “Melodies in the
                                                                         culture, and allowed passengers to experience the rich spirit
                                                                                                                                                                                                  Clouds” concert, birthday celebrations, junior aviation enthusiast
                                                                         of the Spring Festival while traveling through the airport.
                                                                                                                                                                                                  programs, ?ash mobs featuring Yingge dance and traditional Guang-
                                                                                                                                                                                                  dong rhythm, the Canton Fair string salon, food festivals, and beauty
                                                                                                                                                                                                  festivals. Many passengers shared their unique“Baiyun Airport experi-
                                                                                                                                                                                                  ence” and memorable “Guangzhou impressions” on social media,
                                                                                                                                                                                                  becoming spontaneous ambassadors for the city’s charm and
                                                                                                                                                                                                  transforming the airport’s waiting areas into vibrant cultural spaces for
  Art Exhibitions                                                                                                                                                                                 shared enjoyment.
  Under the guidance of the Guangdong Provincial Department of
  Culture and Tourism, the Guangdong Museum of Art and Guang-
  zhou Baiyun International Airport jointly organized the ????“Art for                                                                      National Day and Mid-Autumn Festival Celebration Activities
  Every Family”program, hosting multiple exhibitions at the airport,
  including the Lingnan Tour Exhibition of the Zhejiang Landscape
                                                                                                                                            Jointly organized by Guangzhou Baiyun International Airport, the Guang-
  Painting Research Association, Rhythm of Life and Spirit of the
                                                                                                                                            zhou Chorus Association, and the Pearl River Piano Group, the celebrations
  Times in Classic Artworks, the Xu Guling Contemporary Works
                                                                                                                                            featured activities such as a National Day choral ?ash mob, a string octet
  Exhibition and other Contemporary Art Exhibition, Lu Xiaogen Art
                                                                                                                                            performance, a Hanfu-themed folk music quintet, traditional martial arts
  Exhibition, and Zhuo Yuan Flower-and-Bird Painting Exhibition. By
                                                                                                                                            demonstrations, ethnic dance performances, Hanfu cultural experiences, a
  leveraging the airport’   s role as a major platform connecting the
                                                                                                                                            Mid-Autumn festival fair, lantern riddles guessing, and DIY bead-stringing
  province with the rest of China and the world, these initiatives
                                                                                                                                            workshops. These activities enabled both domestic and international
  provided continuous public cultural services and enriched the
                                                                                                                                            passengers to experience the warmth of festive celebrations and the
  cultural life of the public.
                                                                                                                                            vibrant energy of the city while appreciating the rich heritage of traditional
                                                                                                                                            Chinese culture.
??                                                                                                                                                                                                                                                                            ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                                           Safeguarding Safe Travel
Safeguarding Safe Travel                                                                                                                     Digital empowerment to strengthen safety control
Safety is the lifeline of an aviation hub. The Company thoroughly implements the“Four Firsts”and“Four Haves”work requirements,            The Company continues to deepen the digital transformation of safety management by building a digital control platform featuring
anchoring the objectives of“zero accidents, zero errors, and zero hazards.”Supported by a systematic safety management frame-             full-process visualization, precise risk identi?cation, and intelligent management. This has facilitated the transition of safety
work, it strengthens closed-loop safety risk control, continuously enhance the level of inherent safety.                                  management from experience-driven to data-driven. A uni?ed digital safety management information platform has been launched,
                                                                                                                                          integrating functions such as hazard identi?cation, risk classi?cation control, incident reporting and review, and closed-loop recti?-
Governance                                                                                                                                cation of hazards, enabling closed-loop management of grassroots issues. Intelligent equipment for terminal security inspection
                                                                                                                                          and airside area patrol has been upgraded, and technologies such as AI-assisted image recognition and drone inspections have been
The Company regards safety management as a core strategic consideration and has established a comprehensive risk and hazard               deployed to improve e?ciency and accuracy in safety control. Meanwhile, the information security management system has been
management system covering aviation operational safety, aviation security and counter-terrorism, special operations management,           further strengthened with the issuance of institutional documents including the Digital Management Measures of Guangzhou
and ?re safety. Responsibilities at all levels are clearly de?ned to coordinate and advance safety management e?orts.                     Baiyun International Airport Co., Ltd., the Information Security Management Measures of Guangzhou Baiyun International Airport
                                                                                                                                          Co., Ltd., and the Management Measures for the Security Protection of Critical Information Infrastructure of Guangzhou Baiyun
                                                                                                                                          International Airport Co., Ltd.. Continuous investment in information security has been increased to enhance data protection
                                                            Led by senior management, the committee assumes the primary                   capabilities and safeguard passenger information and core corporate data.
                                                            responsibility for safety management. It formulates overall safety
                                                            management strategies and plans, coordinates relevant corporate
 Decision-making             Safety Production              resources to create synergy, studies and addresses major safety-related
       level                    Committee                   issues, and provides the human, technical, equipment, and ?nancial
                                                            resources necessary for the implementation of the safety management
                                                            system, reviews major matters related to safety management, ensuring
                                                            that the system achieves its expected outcomes.
                                                            Composed of department heads, the o?ce coordinates departments
                                                            and units in carrying out safety management work, reviews the
                                                            rationality and applicability of safety performance parameters,
 Management               O?ce of the Safety                organizes safety management reviews, participates in management
    level               Production Committee                review decisions, evaluates the implementation of safety action plans,
                                                            and supervises the progress and e?ectiveness of implementation by
                                                            relevant departments to ensure that the decisions of the leadership
                                                            are e?ectively implemented.
                                                                                                                                         Impact, Risk and Opportunity Management
Strategy
                                                                                                                                         Taking into account the characteristics of the aviation hub industry and adopting a system safety perspective, the Company used the
     Systematic upgrades to strengthen safety risk management                                                                            “Year of Hazard Identi?cation and Recti?cation”initiative as a key driver. Focusing on primary accountabilities, core operations and
                                                                                                                                         key areas, hazard identi?cation, risk assessment, and risk control were systematically carried out. Through coordination with safety
With the three-year action plan for strengthening workplace safety as the overarching framework, the Company properly coordi-            hazard investigation and recti?cation mechanisms, a systematic preventive management mechanism has been established, shifting
nates the relationship between construction, operations, and safety assurance, and promotes high-quality integration of develop-         safety management from post-event response to pre-event prevention, from open-loop to closed-loop management, from individual
ment and safety. Focusing on key milestones such as the commissioning of the Second West Runway , Third East Runway, and the             issues to system-level governance, and from localized control to overall risk management. This preventive safety management
T? Terminal, change risk management was carried out in a timely manner to ensure a smooth transition across the peak construc-           model aims to minimize incidents and reduce the occurrence of accidents and precursors.
tion period, the construction?operation transition period, and the operational development period, successfully completing
the safe takeover and overnight switchover of the Phase III expansion project.
Special recti?cation campaigns were conducted focusing on core risks such as runway incursions, bird strikes, foreign object
debris, hot work operations, and insulation materials. Comprehensive learning and benchmarking self-inspections for major
hazards were carried out, achieving zero triggers for key indicators such as liability accidents and aircraft ground collisions, while              Key Performance Indicators (KPIs)
the operational safety assurance capability assessment index remained consistently within the green range.
                                                                                                                                                                                                                               ??.???? million.
Three practices—ecological governance vehicles, key risk warning systems for frontline positions, and the airport obstacle
inspection and management system—were included as outstanding industry cases. Two civil aviation safety capacity-building                                  Total investment in information security amounted to RMB
projects—the evaluation standards and quantita-tive management system for civil aviation safety personnel work conduct, and
the enhancement of airport internal security manage-ment and intelligent aviation security capabilities—successfully passed
acceptance reviews with high quality, further expanding the Company’s safety in?uence in the industry.
??                                                                                                                                                                                                                                                                            ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                                              Safeguarding Safe Travel
Indicators and Targets                                                                                                                               Key Performance Indicators (KPIs)
     Long-term goal
Maintain“zero accidents, zero errors, and zero hazards,”build a world-class safe
aviation hub, and become a benchmark for safety management in the civil aviation                                                                       Safe Operations
industry, with core safety indicators continuing to lead the industry.                                                                                 ?? consecutive years of safe operations achieved, with zero occurrences of liability accidents and typical
      Medium-term goal                                                                                                                                 incidents such as aircraft ground collisions, and the operational safety assurance capability assessment
                                                                                                                                                       index consistently remaining within the green range.
 Fully implement safety accountability and establish a full-chain safety responsi-
 bility management model covering mechanism establishment, checklist
 management, training and education, responsibility disclosure, supervision and                                                                        Safety Training
 assessment, accountability investigation, and reward and recognition. The dual                                                                        A total of ?,??? emergency drills, ??? emergency tests, and ??? emergency training sessions were
 prevention mechanism will be deeply integrated with the existing Safety
                                                                                                                                                       organized during the year. Safety education and training covered ??,??? participants, with a ???% training
 Management System (SMS) and daily safety management work. The preventive
                                                                                                                                                       coverage rate and a total of ??,??? training hours. Two information security awareness training sessions
 capability of core risks, including runway incursions, bird strikes, aviation securi-
 ty incidents, foreign object debris, aircraft ground collisions, ?re safety, air                                                                      were organized, covering ?,??? participants including management, technical sta?, and frontline employ-
 transport of dangerous goods, and obstacle limitation surfaces, will be signi?-                                                                       ees. A total of ?? advanced cybersecurity training sessions were conducted for digital platform operation
 cantly strengthened. A multidimensional hazard identi?cation and recti?cation                                                                         and maintenance personnel, cultivating ?? key information security specialists, with employee informa-
 network will be established, enabling interconnection and sharing of system                                                                           tion security assessment pass rates exceeding ??%.
 data from routine inspections, special inspections, statutory self-inspections,
 aviation safety reporting information, and whistleblower mechanisms. The
 digital safety management system will be further improved to achieve intelligent
                                                                                                                                                       Institutional Development
 upgrades across the entire safety management process, employees’safety                                                                                At the safety management level, the Company continued to optimize and re?ne the institutional manual system
 skills will be signi?cantly enhanced, and zero information security breaches will                                                                     based on a three-tier structure consisting of management practices, requirements, and operational standards.
 be maintained.                                                                                                                                        A total of eight systems, including the SMS Manual and safety training and education policies, were revised,
                                                                                                                                                       along with several working procedures, and four new guideline documents such as the Dual Prevention Mecha-
     Short-term goal                                                                                                                                   nism Guidelines were newly developed. At the information management level, twelve policies including the
With“acting in strict accordance with regulations”as the core principle, establish a                                                                   Information Security Management Measures and the Data Classi?cation and Grading Management Speci?ca-
safety governance system in which regulations are in place, must be followed, strictly                                                                 tions were revised, and two special documents, the Digital Platform Security Operation and Maintenance
enforced, and violations are investigated. This will ensure accurate and reliable risk                                                                 Guidelines and the Emergency Data Recovery Plan—were newly introduced, forming a full-chain information
control and signi?cantly enhance inherent safety management capabilities. Six key                                                                      security management framework of“system certi?cation ? institutional constraints ? process control.”
operational initiatives, including bird strike prevention, foreign object debris preven-
tion, ?re management, cross-regional emergency rescue, aviation security, and
operational safety assurance capability improvement, will be implemented to                                                                            Risk and Hazard Management
systematically strengthen the management of core risks. The Company aims to
                                                                                                                                                       Focusing on core operations and key areas, the Company continued to manage and control ?? core hazard
achieve ?? consecutive safety years, with zero occurrences of liability accidents,
                                                                                                                                                       sources at the corporate level. In particular, in response to the commissioning of the Second West Runway ,
runway incursions, aircraft ground collisions, and other typical incidents, while
maintaining the operational safety assurance capability assessment index within                                                                        Third East Runway, and T? Terminal, two rounds of change management were organized, controlling ?? hazard
the green range.                                                                                                                                       sources associated with Phase III project changes. Throughout the year, the Company conducted ?? supervi-
                                                                                                                                                       sion inspections and safety research activities, identifying ??? issues during inspections, all of which have been
                                                                                                                                                       recti?ed. A total of ?,??? proactive safety reports of various types were received during the year, further
                                                                                                                                                       strengthening a workplace culture in which everyone actively participates in safety management.
     Case:        Baiyun Airport Holds Safety Publicity and Consultation Day
                                                                                                                                                       Intelligent Safety Management
     On the morning of June ??, Guangzhou Baiyun International Airport simultaneously held a Safety Publicity and Consultation Day campaign at T?      ?? AI quality control terminals were deployed, achieving ???% image reinspection coverage for key ?ights
     and T? terminals under the theme“Everyone Talks About Safety, Everyone Knows Emergency Response—Identifying Safety Hazards Around Us.”            during major operational support periods. A total of ?? drones detective intelligent sensors were deployed,
     The event was jointly organized by the Central and Southern Regional Administration of Civil Aviation Administration of China (CAAC), the         increasing inspection e?ciency by ??% compared with manual patrols. Through the digital safety management
     Guangdong Safety Supervision Administration of CAAC, and the Guangdong Airport Authority Group, hosted by Guangzhou Baiyun Interna-               platform, ?,??? grassroots issues were recorded, recti?ed, and closed, achieving a ???% closed-loop resolution
     tional Airport Co., Ltd., and co-organized by multiple units including air tra?c management authorities, airport police, customs, immigra-        rate.
     tion inspection, China Southern Airlines, and South China Blue Sky Aviation Fuel Co., Ltd.. More than ?? government departments,
     enterprises, and institutions participated, forming a strong joint force for safety governance.
     Continuing the tradition of the special recognition program“Be a Quali?ed Host, Become an Airport Guardian,”the event selected and                Information Security
     honored ??“Airport Guardians · Hazard Identi?cation Experts.”These award recipients came from various resident units and were                     The Company successfully passed the ISO ????? system recerti?cation and a special information security audit
     recognized as role models for promptly identifying hazards, proactively reporting risks, and actively participating in hazard recti?cation to     by the CAAC, with no incidents of customer information leakage.
     jointly build a safe airport.
     An innovative interactive session titled“Test Your Safety Awareness—Fun Learning on Safety Knowledge”was also launched, with ??
     consultation booths set up in high-tra?c areas across the two terminals. Focusing on topics such as passenger travel safety, dangerous            Industry Recognition
     goods transport safety, obstacle limitation safety, foreign object debris prevention, fraud prevention, infectious disease prevention,
                                                                                                                                                       Three safety management practices were included as outstanding cases in the civil aviation industry, and two
     ?re?ghting, and ?rst aid, the activity invited passengers and employees to participate in a“safety awareness challenge.”The lively
                                                                                                                                                       civil aviation safety capacity-building projects successfully passed acceptance reviews with high quality.
     atmosphere and engaging interactive format attracted many passengers and on-site employees to participate.
??                                                                                                                                                                                                                                                                          ??
  ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                                                    Cultivating Service Excellence
 Cultivating Service Excellence                                                                                                                             Strategy
Upholding the service philosophy of“Heartfelt Service, Fresh Experience,”the Company continues to strengthen the renowned
“Cordial Service”brand, integrating passenger needs throughout the entire travel process. We continuously improve the service                                      Digital empowerment to optimize the full-process service experience
management system, reinforce our role as an industry benchmark, and demonstrate the responsibility of an aviation hub through
high-quality services, achieving the coordinated enhancement of service value and social value.
                                                                                                                                                               The Company continues to deepen the digital upgrade of the entire service process, promoting the transition from“manual
Governance
                                                                                                                                                               service” to an integrated model of“intelligent + human” services. The full-process OneID service has now been implemented
                                                                                                                                                               across all three terminals, connecting check-in, security check, boarding, and baggage tracking processes to enhance travel
                                                                                                                                                               e?ciency. The Easy Security Check service has also been fully upgraded. Passengers taking domestic ?ights who meet the
The Company regards service quality as one of its core competitive advantages and systematically advances the development of a
                                                                                                                                                               eligibility criteria can now use Baiyun Airport’s Easy Security Check channel without prior reservation. The channel is
comprehensive service management system. E?orts are made across multiple dimensions, including service organization manage-
                                                                                                                                                               equipped with new carry-on baggage CT screening equipment, reducing screening time by more than ??% compared with
ment, service performance assessment, service supervision and inspection, service training management, service product innova-
                                                                                                                                                               previous procedures and making travel more convenient and e?cient.
tion management, service risk management, customer feedback management, quality service rewards, and service standards for
employees, with the goal of continuously improving passenger satisfaction.
                                                           Led by senior management, the committee assumes primary responsibility for                             Building a world-class hub and shaping the benchmark“Cordial Service”brand
                                                           service management. It studies and reviews the overall service development
   Decision-              Service Management               strategy, coordinates relevant service management resources, deliberates on
  making level                 Committee                   major service-related issues, reviews important documents such as service                           Anchored in the positioning of a “comprehensive international aviation hub serving as a gateway in all directions,” and
                                                           management systems and service standards, and ensures that service develop-                         aligned with the coordinated development of the Guangdong?Hong Kong?Macao Greater Bay Area and the national strategy
                                                           ment advances in alignment with the Company’s overall strategy.                                     of building a strong civil aviation sector, the Company continues to strengthen the development of a world-class hub. Guided
                                                                                                                                                               by the concept of “one goal, one core, and two key capabilities,” it promotes comprehensive progress in service develop-
                                                                                                                                                               ment. With the improvement of the “three qualities” as its goal, the Company strives to build a ?rst-class hub brand and
                                                           Located within the service management department, the o?ce coordinates all                          shape a distinctive image for Guangzhou Baiyun International Airport characterized by “Chinese style, Lingnan charm,
                                                           functional departments and a?liated units in carrying out service management                        international outlook, and a sense of the times.” The aim is to create a world-class airport with outstanding quality, re?ned
                              O?ce of the                  tasks. It formulates annual service objectives, plans, and indicators; evaluates the                taste, and a prominent brand, enhance core competitiveness, and become the preferred choice for airlines and passengers.
  Management              Service Management
     level                                                 implementation of service improvement initiatives; supervises the e?ectiveness of                   With the development of the Cordial Service culture as its core, the Company continues to enhance the recognition and
                               Committee
                                                           service quality enhancement; and coordinates service assessments, service                           reputation of the brand. The cultural concepts of Cordial Service are deeply explored and integrated into every corner of the
                                                           supervision and inspection, service training, service product innovation, service                   airport, every employee, and every service process. E?orts are made from both the supply side and governance side of
                                                           risk management, customer feedback management, and quality service awards.                          services: data analysis is applied to accurately identify passenger needs; emerging market trends such as the pet economy are
                                                                                                                                                               explored; service risks are closely monitored to address operational challenges associated with new terminal; technologi-cal
   Improving the Service Management System                                                                                                                     innovation is applied to empower smart travel for passengers; commercial o?erings are enriched to create a comfortable
                                                                                                                                                               consumption environment; and communication channels are expanded to build a comprehensive marketing network.
 Baiyun Airport continues to re?ne its service quality management system, strengthening risk control and collaborative coordination to provide
 solid support for sustained improvements in service quality and to lay a strong foundation for the long-term sustainability of its services.
                                                    Leading Industry Standards
  The fourth group standard led and compiled by Baiyun Airport, The Carry-On Baggage Control Service Speci?cation for Civil Airports, was success-          Impact, Risk and Opportunity Management
  fully released in ????. Previously, we had led the development and publication of three group standards, including The Accessibility Service
  Guideline for Civil Airports, Guidelines for the Use of English in Civil Airport Terminal , and Management of voluntary service for civil airports, and
  participated in the revision of two national standards, Civil aviation terminology of passenger transportation and Quality of public air transport        Taking into account the characteristics of the aviation service industry, the Company conducts service risk and opportunity identi?-
  service. Through these e?orts, the“Baiyun Standards”contribute to the standardized development of civil aviation services.                                cation, formulates risk and opportunity lists, clari?es the impact of various risks and opportunities on corporate operations, and
                                                                                                                                                            develops targeted response measures to promote continuous improvement in service quality.
                                          Strengthening Long-term Mechanisms
   The Service Quality Management System of Guangzhou Baiyun International Airport comprehensively covers nine key areas, including                           Risk identi?cation and response measures
  service organization management, service performance assessment, service supervision and inspection, service training management,
  service product innovation management, service risk management, customer feedback management, quality service rewards, and service
                                                                                                                                                            The service quality risk source database is updated in a timely manner. More than ?? categories of service risks, including ?ight
  standards for employees, providing comprehensive institutional support for service quality management at Baiyun Airport. In addition,
                                                                                                                                                            punctuality, infrastructure and equipment, personnel services, and environmental sanitation, have been identi?ed, covering ??? risk
  Baiyun Airport has updated its service quality risk source database, identifying ??? service quality risk sources, including ??? core risks;
                                                                                                                                                            sources, including ??? core risk sources. At the same time, ?,??? company-level service standards and ??,??? secondary-unit-level
  updated and re?ned ?,??? company-level service standards and ??,??? secondary-unit-level service standards covering the entire travel
                                                                                                                                                            service standards have been updated and re?ned, covering the entire passenger journey and striving to provide passengers with
  process, with the aim of delivering the friendly, warm, and natural“Cordial Service”experience to passengers.
                                                                                                                                                            friendly, warm, and natural“Cordial Service.”
??                                                                                                                                                                                                                                                                                             ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                               Cultivating Service Excellence
 Opportunity Identi?cation and Response Measures                                                                                      Indicators and Targets
Opportunity        Speci?c              Description of              Time        Operational                 Response                    Service Targets
 Category        Opportunity             Opportunity               Horizon        Impact                    Measures
                                                                                                                                        Long-term goal
                                                                                                   Increase investment in digital
                                      The development of                                             services and upgrade smart
                                   technologies such as big                       Improved              service equipment and
                                     data, arti?cial intelli-                     passenger         platforms; promote full-pro-         Build world-class hub airport services, become a benchmark for service quality management in the civil aviation industry,
                                    gence, and the Internet                      satisfaction,      cess service digitalization to       and continuously enhance service quality and brand value to support high-quality development.
                    Service          of Things can support          Short-,        reduced            optimize the experience of
Technological    digitalization    the upgrading of airport      medium-, and     operating            check-in, security check,
 Opportunity       upgrade             services, enabling         long-term          costs,          boarding, and other proce-
                                    optimization of service                       enhanced         dures; use big data to analyze
                                   processes, improvement                           service         passenger needs and deliver
                                     of service experience,                      competitive-         targeted services; explore
                                                                                                                                        Medium-term goal
                                   and reduction of service                           ness            innovative service models
                                              costs.                                                such as AI-powered inquiries
                                                                                                       and intelligent guidance.
                                                                                                                                         Continue to focus on one center (brand development as the central focus), one core (service culture development as the
                                                                                                                                         core), two key initiatives (enhancement of the“three qualities”and improvement of transfer services), and six key
                                                                                                                                         elements (marketing, products, and brand), while strengthening the development of nine ?rst-class aspects, including
                                                                                                                                         service awareness, service teams, management systems, ground support, service products, premium cabin services,
                                    Passenger demand for                                             Continue strengthening the          commercial o?erings, ecological environment, and cultural experience, to build a comprehensive international aviation
                                     high-quality aviation                                         “Cordial Service”brand and            hub serving as a gateway.
                                         travel services                                           develop distinctive service IP;
                                                                                   Revenue
                                      continues to grow.                                           actively participate in industry
                                                                                   growth,
                                       Superior service                                             service evaluations to obtain
                                                                                  enhanced
   Market       Service brand          experiences can            Medium- to                           higher recognition and
                                                                                 brand value,
 Opportunity    enhancement         enhance the airport’s         long-term                          enhance brand awareness;
                                                                                  expanded
                                                                                                                                        Short-term goal
                                     brand credibility and                                         strengthen service promotion
                                                                                    market
                                       competitiveness,                                             through media coverage and
                                                                                  in?uence
                                     attract more passen-                                           passenger sharing to expand
                                        gers, and drive                                               brand in?uence; improve
                                       revenue growth.                                               service quality to enhance          Implement the Guidelines for the Development of a Passenger Service Quality Management System for Public Air Transport
                                                                                                     passenger satisfaction and
                                                                                                               loyalty.                  to ensure the e?ectiveness of the service management system; rank among the top ten globally and top three nationally in
                                                                                                                                         the Airports Council International Airport Service Quality (ASQ) assessment, according to the evaluation criteria of the
                                                                                                                                         State-owned Assets Supervision and Administration Commission; ensure that the annual average on-time ?ight departure
                                                                                                                                         rate and contact stand bridge rate meet the assessment targets; maintain the annual baggage mishandling rate attribut-
                                                                                                     Closely monitor changes in          able to the airport at ≤?.?‰; prevent collective complaints involving ?? or more people at the same time and avoid major
                                                                                                      industry service standards         complaints, major service errors, or major service incidents; achieve ???% closed-loop management of complaints;
                                                                                                     and promptly optimize the
                                      Civil aviation service                                                                             continue building an airline-friendly airport; continue developing a tourism-friendly airport; and initiate the application for
                                                                                                    Company’s service manage-
                                     standards continue to                         Enhanced                                              the China Quality Award.
                                                                                                    ment systems and standards;
                                      evolve, encouraging                           industry         benchmark against interna-
                                       airports to enhance                         standing,           tionally advanced service
                                      service management                           improved             practices and learn from
  Industry        Upgrading of     capabilities. Participation    Medium- to    service quality,       leading airports; lead the
 Opportunity    industry service     in the development of        long-term         stronger         drafting of industry associa-
                   standards        industry standards can                        capacity for     tion standards and participate
                                     help airports secure a                       sustainable          in the revision of national
                                       leading position in                       development       standards to share the Baiyun
                                       service quality and
                                                                                                          service management
                                        become industry
                                                                                                         experience; strengthen
                                          benchmarks.
                                                                                                         industry exchange and
                                                                                                   cooperation to jointly improve
                                                                                                             service quality.
??                                                                                                                                                                                                                                                                     ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                          Cultivating Service Excellence/ Stimulating Innovation Vitality
        Honors                                                                                                                   Stimulating Innovation Vitality
       Service Quality                                                                                                           Innovation is the core engine driving the high-quality development of aviation hubs. The Company has established a comprehensive
                                                                                                                                 innovation management framework featuring“R&D empowerment, ethical safeguards, and safety assurance,”continuously stimulating
       The “Cordial Service” brand of Guangzhou Baiyun International Airport was successfully registered as a trademark;
                                                                                                                                 innovation vitality and transforming technological achievements into powerful drivers for safety management, service enhancement, and
       The airport was recognized as an “Excellent Airport in Service Quality above 10 Million Passengers” in the 2024 China
                                                                                                                                 hub upgrades, demonstrating the technological strength and responsibility of an international aviation hub.
       Civil Airport Service Quality Evaluation;
       The airport was honored with the “11th CAPSE 2024 Best Airport” (Mainland China, passenger throughput above 10
       million) and the Civil Aviation Innovation Pioneer Award.                                                                   Consolidating the Foundation for Innovation-driven Development
       Service Innovation                                                                                                        Adhering to the innovation-driven development strategy, the Company has established an e?cient full-process management system for
       Outstanding service innovation achievements of Guangzhou Baiyun International Airport won two Diamond                     R&D expenditures to ensure the precise allocation and e?cient utilization of research investments, thereby consolidating the foundation
       Awards, one Gold Award, and one Silver Award at the 2024 CAPSE Civil Aviation Quality Improvement Practice                for innovation-led growth. In ????, ?? key R&D projects were selected for dedicated accounting, with R&D expenditure reaching RMB
       Competition;                                                                                                              ???.?? million, representing a year-on-year increase of ??.??% and marking the third consecutive year of growth. This trend has enabled
       Received three CAPSE Innovation Awards and one Innovation Nomination Award at the 8th CAPSE Innovation                    the Company to achieve both scale e?ects in R&D investment and re?ned management practices.
       Awards.                                                                                                                   The sustained accumulation of R&D momentum has strongly supported the Company’           s high-quality development. In the Civil Aviation
                                                                                                                                 Administration of China’  s comprehensive evaluation of smart civil aviation construction for major airports in ????, the Company ranked
                                                                                                                                 ?rst nationwide in ????, demonstrating its strong innovation capabilities. Key projects including Research on Key Technologies and
       Brand Strength                                                                                                            Systems for Intelligent Stand Allocation Optimization at Airports and Construction and Key Technology Research of a Full-process Digital
       The “Cordial Service” brand stories of Guangzhou Baiyun International Airport received three Third Prizes in the          and Intelligent Cargo Terminal System for Airport Groups were awarded the Third Prize of the Civil Aviation Science and Technology Award
       speech and essay categories at the 13th National Brand Story Contest organized by the China Association for               by the China Air Transport Association. In addition, the Yunqiao Integrated Equipment Management System won the Bronze Award at the
       Quality;                                                                                                                  Second“Youth Innovators Win”Civil Aviation Youth Innovation and E?ciency Competition. These innovation achievements have
                                                                                                                                 e?ectively empowered safety management, hub operations, and service upgrades, translating R&D investment into sustainable develop-
       The brand stories won five Outstanding Awards (First Prize), forty-three Excellence Awards (Second Prize), and
                                                                                                                                 ment momentum.
       fifteen Merit Awards (Third Prize) in the speech, essay, microfilm, and short video categories at the
       Guangzhou Division of the 13th National Brand Story Contest and the 10th Guangdong Provincial Brand Story
       Contest organized by the Guangdong Association for Quality.                                                                 Standardizing the Path of Innovation Development
                                                                                                                                 Throughout the R&D and technology application process, the Company strictly follows principles of technological ethics. Taking into
                                                                                                                                 account the characteristics of the aviation hub industry, it conducts full-lifecycle and multi-dimensional assessments of potential ethical
                                                                                                                                 risks associated with new technologies such as AI-based security screening and digital service platforms, while implementing strict risk
         Key Performance Indicators (KPIs)                                                                                       control measures to ensure that technological development aligns with social norms and bene?ts all passengers. Subsidiaries Guangzhou
                                                                                                                                 Baiyun Airport Facility Management and Operation Co., Ltd. and Guangdong Airport Baiyun Information Technology Co., Ltd. have both
                                                                                                                                 obtained certi?cation as High-tech Enterprises. In ????, the Company obtained ?? new patents, including nine invention patents, bringing
           Customer Satisfaction                                                                                                 the cumulative proportion of invention patents to ??% of total patents.
           The customer service hotline handled ???,??? calls, with a satisfaction rate of ??.??%.
                                                                                                                                        Honors
           Customer Complaint Resolution Rate
           A total of ?,??? customer feedback cases were received, achieving ???% response and ???% closed-loop resolution.            Ranked First in the CAAC National Evaluation of Smart Civil Aviation Construction for Major Airports
                                                                                                                                       Third Prize of the Civil Aviation Science and Technology Award by the China Air Transport Association
           Customer Complaint Response Mechanism                                                                                       Bronze Award at the Second“Youth Innovators Win”Civil Aviation Youth Innovation Competition
           A closed-loop complaint handling mechanism of“??-minute acceptance, solution within ?? hours, and follow-up
           within ?? hours”has been established to actively address passengers’urgent travel concerns.
           Passenger Rights Protection Measures
           A dedicated passenger rights protection task group has been established to handle passenger complaints and coordi-               Key Performance Indicators (KPIs)
           nate dispute resolution. No major passenger rights disputes occurred during the year, and the satisfaction rate for
           complaint handling reached ??.?%                                                                                                        R&D expenditure: RMB          ???.?? million, up ??.??% year-on-year.
??                                                                                                                                                                                                                                                                        ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                             Emphasizing Technology Ethics / Protecting Customer Privacy / Protecting Employee Rights and Interests
Emphasizing Technology Ethics                                                                                                            Protecting Employee Rights and Interests
During the R&D process, the Company strictly adheres to the following ethical principles and conducts full-lifecycle, multi-dimension-   We uphold the talent philosophy of“Leaders Helping Practitioners.”Centered on full career lifecycle management, we improve
al assessments of potential ethical risks associated with new technologies, while implementing rigorous risk control measures.           systems for employee rights protection, skill enhancement, and career development, creating an inclusive, safe, and mutually bene?-
                                                                                                                                         cial working environment and enabling shared growth between the Company and its employees.
     Respect for human rights and dignity
     Ensuring that all technological applications do not infringe on individuals’fundamental rights and freedoms and fully respect         Employee Employment and Team Development
     human dignity and autonomy.
     Protection of privacy and data security
                                                                                                                                                  Standardized recruitment practices
     Strictly complying with national data protection regulations and implementing the principle of“data minimization”in data                   The Company revised and improved the     
  
  
     collection to safeguard user data security.                                                                                                 and other related policies, further re?ning open recruitment procedures. Adhering to the princi-
                                                                                                                                                ple of non-discriminatory employment, we foster an equal, diverse, and inclusive workplace environment and
                                                                                                                                                strictly prohibit discrimination based on gender, age, education, ethnicity, religion, marital status, or other
     Promotion of fairness and inclusiveness                                                                                                    personal attributes. Graduation institutions, overseas study experience, and study modes (full-time or
                                                                                                                                                part-time) are not used as restrictive conditions in recruitment, ensuring open, fair, and just hiring. The Compa-
                                                                                                                                                ny strictly complies with relevant laws and regulations including the ?? and
     Preventing discrimination or inequality arising from technological applications, with particular attention to the accessibility
                                                                                                                                                the ??, and conducts employee background checks in accordance
     needs of elderly passengers, passengers with disabilities, and other special groups, ensuring inclusive technological bene?ts.
                                                                                                                                                with legal requirements. In ????, in order to optimize workforce structure, the Company recruited ??? new
     Passengers can apply for special services such as elderly passenger assistance, services for passengers with disabilities, and
                                                                                                                                                employees, including ??? through social recruitment, ??? through campus recruitment, and ??? interns
     unaccompanied minor services through the Airportpass Wechat mini-program. A total of ??? pieces of accessible service
                                                                                                                                                converted to full-time positions. Campus recruitment also included ?? highly educated talents such as
     equipment have been deployed and an intelligent passenger service information platform has been established, with total
                                                                                                                                                management trainees and technical trainees. In ????, the Company employed a total of ??,??? sta? members,
     investment reaching approximately RMB ??.?? million.
                                                                                                                                                with a ???% labor contract signing rate and ???% social insurance coverage. The workforce age structure
                                                                                                                                                remained well-balanced, while the educational composition continued to improve.
     Ensuring safety and controllability
                                                                                                                                                  Team development
     Adopting comprehensive protective measures to ensure the reliability of technological products and services, preventing
     systemic risks and avoiding harm to users or society caused by technical failures.                                                         In alignment with the renovation and upgrade of T? and the commissioning of T?, the Company completed the
                                                                                                                                                internal optimization and reallocation of ?? surplus non-management employees, improving the e?ciency of
Protecting Customer Privacy
                                                                                                                                                human resource utilization. The employee turnover rate was ?.??%.
                                                                                                                                                  Employee promotion channels
The Company attaches great importance to the protection of customers’personal information and strictly complies with the Cyber-
security Law of the People’s Republic of China, the Civil Code of the People’s Republic of China, and other relevant aviation safety            The Company innovatively implemented a dual-channel selection mechanism combining“preliminary recom-
regulations. It adheres to the principle of“necessary collection and compliant use,”collecting only the information required for                mendation + ?nal evaluation,”and completed the ?rst open selection for technical sequence levels ?? and ??,
service provision and never gathering passengers’private information without authorization.                                                     initially forming a professional talent development ecosystem characterized by dynamic competition and
                                                                                                                                                mobility. The Company also conducted value assessments for ??? frontline positions and identi?ed ?? key
For mobile applications such as Airportpass and VIP services, the Company has comprehensively implemented and dynamically
                                                                                                                                                positions. Subsidiaries including the Airport Facility Management and Operation Co., Ltd., Security Inspection
updated privacy protection statements. At key stages such as user registration and login, users are prompted to read and con?rm
                                                                                                                                                and Protection Department, and Fire Rescue Detachment explored a star-rating points promotion system for
these statements, which clearly explain the scope of information usage, protective measures, and users’legal rights. At the same
                                                                                                                                                key technical personnel. A doctoral credit-based training mechanism was also established, enabling two
time, supported by R&D achievements, the Company has established a multi-layered, full-process data security protection system
                                                                                                                                                doctoral employees to achieve promotion.
that integrates ?rewalls, data encryption technologies, and digital control platforms. Routine vulnerability inspections and key data
backups are carried out, and access permissions are scienti?cally allocated according to job responsibilities, enabling a transition
from basic compliance to systematic governance and fully ful?lling the Company’s responsibility to safeguard passenger privacy as
an aviation service enterprise.
??                                                                                                                                                                                                                                                                       ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                    Protecting Employee Rights and Interests
 Employee Compensation and Bene?ts                                                                                                       Employee Care
 Compensation system
                                                                                                                                         Support for employees in need
 The Company established a dynamic adjustment mechanism linked to performance, in compliance with relevant laws and regula-
 tions including the Labor Law of the People's Republic of China, the Guangdong Provincial Regulations on the Payment of Wages,          The Company continues to improve its employee assistance system. A“one-to-one”assistance program achieved ???%
 and the Guangdong Province Heat Protection Measures for Workers. Upholding the principle that“wages increase when perfor-               coverage. During the year, hardship relief funds totaling RMB ???,??? were distributed, and RMB ??,??? in Back-to-School
 mance improves and decrease when performance declines,”the Company implements equal pay for equal work and standardizes                 Assistance Program funds was granted to ?? children of employees facing ?nancial di?culties.
 compensation allocation. Continuous benchmarking of key positions has been strengthened, with the average compensation level
 of more than ??% of key positions exceeding the industry benchmark. The Company also issued the Guidelines on Compensation
 for Market-Oriented Recruitment Personnel, clarifying compensation structures, evaluation benchmarks, and performance-based             Building a“Happy Enterprise”
 payout mechanisms for market-oriented employees, thereby closely linking compensation to corporate performance and individu-
 al value creation. Leveraging the“Micro Task Snatching Platform,”employee initiative was further stimulated, with ?,??? employ-
 ees participating in task snatching, totaling approximately ???,??? working hours. This initiative saved nearly RMB ?? million in       Focusing on employees’diversi?ed and high-quality service needs, the Company has established a matrix of ?? distinctive
 labor costs while increasing participants’average income by RMB ?,???.??, e?ectively embodying the principle that hard work             services covering employee care, daily convenience services, and rights protection.
 yields rewards and diligence brings gain.                                                                                                 School enrollment services for employees’children were further optimized, successfully assisting ?? children in enrolling in
                                                                                                                                           schools in Baiyun District.
 Bene?ts system                                                                                                                            The childcare program was upgraded with additional outdoor recreational facilities and teaching spaces, serving ???
                                                                                                                                           employees’children during the year.
 In addition to statutory bene?ts, the Company provides diversi?ed welfare programs including enterprise annuity plans, supple-
                                                                                                                                           Household registration services were provided for ?? employees to support their settlement and well-being.
 mentary medical insurance, annual health check-ups, holiday bene?ts, and paid leave. Union membership reached ???%, and
 participation in supplementary commercial medical insurance also reached ???%, comprehensively safeguarding employee rights               The“Dream University”employee education improvement program was implemented in cooperation with ?? universities, with
 and enhancing employees’sense of belonging.                                                                                               ??? new enrollments in ???? and a cumulative total of ?,??? participating employees, achieving a graduation rate of ??%.
                                                                                                                                           Retirement ceremonies were organized to honor retiring employees.
                                                                                                                                           The“Employee Privilege Purchase”initiative organized ?? group purchasing activities and collaborated with Friendship
                                                                                                                                           Store and Pullman Hotel to host o?ine exhibitions.
 Employee Occupational Health and Safety
                                                                                                                                           A hair salon was established in the Comprehensive Service Building, serving ??,??? employee visits annually across two
                                                                                                                                           locations. In addition, four charity medical consultation events were organized in collaboration with tertiary hospitals,
                                                                                                                                           serving nearly ??? employees.
 Occupational health management
                                                                                                                                           Sports festival activities including table tennis and badminton competitions, healthy runs, and lawn concerts were also held.
     The Company organized annual health examinations for all employees, achieving a ???% coverage rate. For special positions such        From July to September, a mobile ice cream truck service initiative was conducted for ?? days at ?? locations, distributing
     as heat workplaces and high-altitude operations, heat allowances were strictly implemented with a ???% distribution rate, and         more than ??,??? ice creams to employees.
     necessary labor protection equipment was provided. No major occupational health incidents occurred throughout the year.
 Employee mental health
     The Company organized ?? psychological counseling and stress relief activities and launched ? sessions of the“Cloud Care”
     program. The ??/? employee mental health hotline recorded a total usage time of ?,??? minutes, while the“one-on-one”priority
     counseling channel recorded ?,??? minutes of consultations.
 Protection of female employees’rights and interests
     The Company places great importance on protecting the rights and interests of female employees. Taking into account their physio-
     logical characteristics and occupational needs, dedicated protection mechanisms have been further improved. The Company
     strictly complies with relevant national laws and regulations, ensuring equal employment and promotion opportunities for female
     employees and eliminating gender discrimination. For pregnant and breastfeeding employees, work arrangements are adjusted to
     avoid high-intensity or high-risk tasks. Mother-and-baby care rooms have been established in terminal and o?ce buildings to
     provide appropriate rest and nursing facilities. Health education lectures and specialized gynecological examinations are also
     conducted regularly to promote health awareness and e?ectively safeguard female employees’legitimate rights, physical health,
     and well-being, ensuring that they receive full respect and support in the workplace.
??                                                                                                                                                                                                                                                                        ??
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                         Protecting Employee Rights and Interests
                                                                                                                                       Employee Training and Development
 Promote the development of a youth-friendly enterprise
 The Company also continued to promote the development of a youth-friendly enterprise by organizing the“Youth Dialogue with
 Management”forum to build communication channels between young employees and management team. Activities such as the                 Career development system: The Company established career development pathways covering four major sequences, including management,
“Green Baiyun·Youth in Action”tree-planting event and the“Model Lei Feng·Civilized Practice in Action”volunteer campaign were         technical, skilled, and professional, clearly de?ning promotion paths and competency standards for each sequence to provide diversi?ed career
 held, during which more than ?? young volunteers from the Communist Youth League provided services in key airport areas. E?orts      options. The open recruitment rate for third-level management positions reached nearly ??%. A performance-based adjustment and exit mecha-
 were made to deepen the integration of Communist Youth League work and business operations by creating ten Communist Youth           nism was also established to ensure dynamic personnel mobility, allowing transitions such as shift manager or senior supervisor roles to techni-
 League brand initiatives, holding the second Communist Youth League Congress, and organizing Communist Youth League cadres to        cal or market-oriented positions. The structure of the management team has become more balanced across generations. Outstanding third-level
 participate in the Youth Marxist Training Program and Marxism Institute training sessions. The Company also launched the“We CAN·     managers were selected to participate in the ?fth talent development program. Activities such as the“Talent Attraction·Twelve Newcomers”
 Speaking”English Talent Show and the“Youth Power, Smart Innovation for the Future”Innovation and Creativity Competition, provid-     ceremony were organized, and the selection of“Management Elites”and“Management Rising Stars”was successfully completed. Two rounds
 ing platforms for young employees to showcase their talents.                                                                         of the“Achieving Excellence”training program were conducted for ??? management trainees, completing the training cycle for the ???? cohort.
                                                                                                                                      For three consecutive years, more than ?? technical trainees have been recruited annually.
                                                                                                                                      Employee training system: Following requirements from the ISO ????? training management framework, the Company established a compre-
     Case: The Second Group Wedding Ceremony of Baiyun Airport                                                                        hensive employee training system. Based on corporate strategy, job requirements, and employee career development plans, annual training
                                                                                                                                      programs are developed. During the year, the Company launched its ?rst overseas benchmarking study program for frontline business
                                                                                                                                      backbones and its ?rst annual English capability improvement program. Subsidiaries were coordinated to conduct foreign-language training,
       On May ??, ????, the second group wedding themed“Love at                                                                       establish a foreign-language talent pool, and create a task-bidding process for
       Baiyun, Happiness Takes Flight” was held in a romantic                                                                         language specialists. A university?enterprise practice base was also
       ceremony. As wedding dresses and suits intertwined under                                                                       established with Guangdong University of Foreign Studies, further enhancing
       the lights of the exhibition hall and applause echoed along the                                                                training platforms and quality.
       corridor documenting the airport’         s development, this
       Western-style wedding dedicated to Baiyun Airport employ-                                                                      Employee development platform: The Company successfully held its ?rst
       ees transformed the mission of“guarding the blue skies”into                                                                    Craftsman Recognition Ceremony, awarding the title of inaugural“Crafts-
       a promise of lifelong companionship.                                                                                           man”to Zhi Renming, Deng Haijin, Chen Yuhong, Luo Xiaoqiu, and Zhang Yi,
                                                                                                                                      highlighting exemplary role models in technical skills. The“Dream University”
                                                                                                                                      employee education improvement program also provided educational
     Case: Baiyun Airport Holds the First “We CAN · Speaking” English Talent Show                                                     advancement rewards to ??? employees.
                                                                                                                                       Employee Communication and Rights Protection
                                                                                                                                      Employee communication mechanisms: The Company has established diversi?ed communication channels including the Employees
                                                                         On November ??,????, the ?nal of the Company’       s ?rst
                                                                                                                                      Congress, employee forums, the CoolPao community platform, and Employee Reception Day. During the year, two Employees
                                                                         English Talent Show,“We CAN · Speaking,”concluded
                                                                                                                                      Congress meetings and ?? employee forums were held, collecting ?,??? reasonable suggestions from employees with an adoption
                                                                         successfully. This youth event, built around the theme of
                                                                                                                                      rate of ??%. Meanwhile, the CoolPao community platform actively responded to employee concerns and provided timely answers to
                                                                         language, provided ?? English-speaking talents with a
                                                                                                                                      employee inquiries.
                                                                         platform to demonstrate their abilities, exchange ideas,
                                                                         and engage in cultural interaction.                          Employee rights protection: A formal employee complaint and appeal mechanism has been established, clearly de?ning procedures
                                                                                                                                      and processing timelines. The Company strictly protects the privacy of employees submitting complaints or appeals and prohibits
                                                                                                                                      any form of retaliation. An employee rights protection o?cer has been appointed to coordinate and address related issues. No major
                                                                                                                                      employee rights disputes occurred during the year.
               Baiyun Airport Holds the First “Youth Power, Smart Innovation for the
     Case: Future” Innovation and Creativity Competition
                                                                                                                                                  Key Performance Indicators (KPIs)
        Young sta? from various secondary units formed teams                                                                                      ?? employees’children successfully enrolled in schools in Baiyun District, including ? in primary schools, ?? in junior
        to register, resulting in the submission of ?? innovation                                                                                 middle schools, and ?? in public schools;
        projects. Following rigorous preliminary and semi-?nal                                                                                    ??? employees’children participated in the childcare program during the year;
        evaluations, ?? projects advanced to the ?nal round,
                                                                                                                                                  ?? mobile service stations were organized, serving ?,??? employees;
        while ?? featured projects were presented at the creative
        marketplace. After intense and exciting competition, the                                                                                  ?? employees received full-process assistance for talent household registration;
        Star Glory Award, Star Spark Award, and Star Light Award                                                                                  A total of ?? universities cooperated in the employee education improvement platform, with ??? new enrollments in
        were announced, adding brilliance to this innovation                                                                                      ????, bringing the cumulative number of participating employees to ?,??? and achieving a graduation rate of ??%;
        event.                                                                                                                                    ?? legal consultation sessions were held during the year, serving ??? employees;
                                                                                                                                                  Employee satisfaction rate reached ??.?%.
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                       Standardizing Supply Chain Management / Practicing Social Responsibility
Standardizing Supply Chain Management                                                                                                    Practicing Social Responsibility
Upholding the concepts of“integrity and mutual bene?t, shared responsibility,”the Company has established a sustainable supply           The Company consistently upholds the core values of“responsibility and sharing.”While continuously advancing its own develop-
chain system characterized by“institutional guidance, lifecycle management, empowerment and enhancement, and compliance and              ment, it actively ful?lls its responsibilities as a corporate citizen. Guided by the approach of“systematic practice, targeted empower-
integrity,”promoting coordinated development across the value chain.                                                                     ment, and diversi?ed contributions,”the Company returns the results of its development to society. Through volunteer services, rural
                                                                                                                                         revitalization initiatives, green operations, emergency support, and other multidimensional actions, the Company works together
     Supply Chain Management
                                                                                                                                         with employees, communities, and broader society to build a community of shared responsibility, create a better future, and share
                                                                                                                                         development opportunities.
The Company strictly complies with relevant laws and regulations, including the Tendering and Bidding Law of the People's Republic
of China and the Company Law of the People's Republic of China. Taking into account the characteristics of the aviation hub industry,
the Company further consolidated and streamlined its procurement management policies to improve the e?ciency of system imple-             Demonstrating Social Responsibility
mentation. Guidelines for bid evaluation methods were revised, promoting the use of the interval drawing method to determine bid
benchmark prices and adopting the rule of recommending bid winners in order of price. Evaluation rules were re?ned, public disclo-       Baiyun Airport has strengthened its role as a comprehensive international aviation hub serving as a gateway in all directions. By successfully
sure requirements were enhanced, and procurement processes were standardized. An open research platform was launched to                  completing major event service support tasks and delivering high-quality services that empower urban development and industry progress, the
improve the accuracy of preliminary pricing for procurement projects and promote transparency in procurement activities. The mech-       Company actively practices social responsibility and demonstrates the commitment expected of a state-owned enterprise.
anism for appointing owner representatives and experts was optimized, and throughout the year the Company conducted four policy
training sessions and two integrity warning education sessions. Review of tender documents was further strengthened, with ??             Hosting the 2025 International Airport Expo at a High Standard
reviews conducted for major tender documents during the year. ESG-related requirements were integrated throughout the supply
chain management process, forming a supply chain management framework characterized by“institutional guidance, process                   The ???? International Airport Expo was successfully held, showcasing Baiyun Airport’     s strong capabilities and enhancing the global in?uence of
control, responsibility implementation, and supervision and evaluation.”                                                                 China’ s civil aviation industry. With an unprecedented scale, the event pioneered the“three conferences and ?ve exhibitions”model, integrating three
                                                                                                                                         international conferences with ?ve professional exhibitions to establish a comprehensive platform combining“conference + exhibition + forum.”The
     Supplier Evaluation                                                                                                                 event attracted guests from ?? countries and ??? overseas participants and received high praise from the Director General of ACI as“the most profession-
                                                                                                                                         al event.”
The Company established a dynamic evaluation mechanism combining quarterly assessments with annual ratings. A disquali?cation
                                                                                                                                         The Expo achieved several milestones in the history of China’   s civil aviation industry. It was the ?rst time that the ACI World’
                                                                                                                                                                                                                                                                           s Airport Experience Summit
and elimination system was implemented for non-compliant suppliers in bidding agency, engineering service, and construction
                                                                                                                                         was hosted in China, and the event created the country’   s ?rst comprehensive exhibition platform for the civil aviation ecosystem. With an exhibition area
contractors. A three-tier commercial blacklist disciplinary system was also introduced, enabling re?ned lifecycle management of
                                                                                                                                         of ??,??? square meters covering the entire industry chain, more than ??? enterprises from across the aviation industry participated. Extensive commu-
suppliers from admission and cultivation to exit. In ????, two bidding agency suppliers and ?ve engineering service and construction
                                                                                                                                         nication and publicity generated signi?cant in?uence, with coordinated coverage by ??? national, provincial, and municipal media outlets, three reports
contractors were eliminated.
                                                                                                                                         by China Central Television, and ?? publications on the Xuexi Qiangguo platform. The event achieved an overall online in?uence of ?.??? billion impres-
                                                                                                                                         sions. Through this international event, China’  s civil aviation professionalism and Guangzhou’         s urban charm were fully demonstrated, signi?cantly
                                                                                                                                         enhancing Baiyun Airport’  s international voice and in?uence.
 Diversity and Equal Opportunity
     Supplier Admission
In ????, the Company worked with ?,??? service suppliers, while six suppliers were included on the list of entities prohibited from
cooperation.
     Supply Chain Compliance Management
The Company strictly implements supply chain compliance management requirements and has established a supply chain compli-
                                                                                                                                         Providing E?cient Support for the 15th National Games of China
ance review mechanism. Compliance reviews are conducted throughout the entire process, including procurement tendering,
contract signing, and contract performance. More than ?? compliance reviews were carried out during the year to ensure that all
supply chain activities complied with applicable laws and regulations. Integrity management in the supply chain was also strength-
                                                                                                                                         As the core arrival and departure hub of the o?cial“one airport and three stations”system, Baiyun Airport undertook more than
ened through two integrity warning education sessions, covering more than ??? procurement and related management personnel,
                                                                                                                                         ??% of the transportation support tasks for the Games and successfully completed service guarantees for the ??th National Games and the ??th
reinforcing a strong culture of integrity across the workforce.
                                                                                                                                         National Games for Persons with Disabilities and the ?th National Special Olympic Games. This demonstrated strong political responsibility and the
                                                                                                                                         image of an international aviation hub.
     Supply Chain Risk Management
The Company established a comprehensive supply chain risk management system, clearly de?ning requirements for risk identi?ca-
tion, assessment, early warning, and response across the entire supply chain process. Key risks, including supplier default and supply
chain disruption, are closely monitored. In ????, three supply chain risk inspections were conducted, covering ?? suppliers. A risk
register was established and risk control measures were implemented through graded management and targeted response actions. All
identi?ed risk points were recti?ed with a ???% completion rate. In response to potential major emergencies, the Company also
established a supply chain emergency support mechanism and signed an emergency support agreement with one core supplier,
clearly de?ning emergency supply responsibilities, support capacity, and response timelines to ensure the stability and continuity of
the supply chain under unexpected circumstances.
   ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                                                        Practicing Social Responsibility
 E?cient operations achieved the objectives of“three zeros and three highs”  : zero errors, zero incidents, and zero complaints, alongside high standards,    Rural revitalization empowerment
 high e?ciency, and high quality. Approximately ??,??? personnel were mobilized, supporting ?,??? event-related ?ights and serving ??,??? event
 participants. Multiple initiatives were implemented to showcase comprehensive operational capabilities. The Airport introduced an innovative                 Actively responding to the national rural revitalization strategy, the Company leverages the Airport’s role as a logistics hub and
“three-director coordination mechanism,”established a“?+?+N”command system, and worked with airlines to monitor ?ights in real time and                       resource connector to implement a four-dimensional support model combining intellectual assistance, industrial support,
 allocate resources accurately. Tailored service solutions were implemented through a“one ?ight, one plan”and“one delegation, one strategy”                   consumption support, and cultural tourism development. Three outstanding cadres were dispatched to villages and towns to carry
 approach. Seamless connection between aircraft doors and shuttle buses was achieved through dedicated green channels. Nine innovative initiatives,           out targeted support work, focusing on local needs and providing intellectual and resource support in areas such as industrial
 including the“Lighting Up the National Games”campaign, were introduced, and ?ve“Saluting the Champions”farewell ceremonies were organized,                   planning and rural governance.
 signi?cantly enhancing the experience of participating guests. Atmosphere-building initiatives also received widespread praise. Accessible facilities were
 upgraded, intelligent sign-language translation devices and guide dogs were introduced, and a strong event atmosphere was created through visible,
 immersive, and interactive displays. Through multi-channel communication e?orts, the Airport received high praise from athletes, the organizing
 committee, the Central and Southern Regional Administration of Civil Aviation Administration of China (CAAC), and the media, fully demonstrating                       Key Performance Indicators (KPIs)
 national-level event support capability, Guangzhou’  s city image, and Baiyun Airport’ s brand strength.
                                                                                                                                                                      In ????, a total of ?? volunteer service activities were   RMB ?.?? million spent on purchasing agricultural assistance
 Providing High-Level Support for Two Sessions of the Canton Fair                                                                                                     organized;                                                 products in ????
                                                                                                                                                                      ?,??? employee participations in volunteer activities      Approximately RMB ?.? million invested in indirect support through
 Baiyun Airport innovatively established a comprehensive service                                                                                                      were recorded;                                             employee recuperation programs and Party and Youth League activities
                                                                             inspection authorities and airlines to ensure accurate and e?cient
 support system, implementing multiple initiatives to connect                arrival and departure support.                                                           Total volunteer service hours reached ??,??? hours, with   Total rural revitalization support reached RMB ??.?? million
 domestic and international business travelers and facilitate the                                                                                                     an average of ?.?? hours per participant.
                                                                             Coordination among port authorities ensured smooth entry procedures.
“two-way journey”of global commerce for the Canton Fair,
                                                                             A graded response mechanism was introduced for service support, with
 known as“China’   s No.? Trade Fair.”
                                                                             additional assistance positions established for immigration inspection,
 One-stop services improved convenience for international                    ?ngerprint collection, and arrival card completion to ensure orderly
 visitors. During the Spring Canton Fair, the Airport launched a             operations during peak entry periods.                                             Supporting Community Development
 one-stop service platform at the airport service point integrating
                                                                             A pre-exhibition display area was created in collaboration with the
 exhibition registration, hotel reservations, vehicle booking, VIP
                                                                             Baiyun District Import and Export Chamber of Commerce under the
 services, tourism services, and paid translation services. Ahead of                                                                                          The Company extends its social responsibility practices to multiple areas including environmental protection, emergency support,
                                                                             theme“Premium Guangzhou Products, Global Trade,”showcasing
 the Autumn Canton Fair, the Foreign Visitor Facilitation Service                                                                                             and regional development, striving to create broader and deeper social value while demonstrating the comprehensive responsibility
                                                                             innovative products from local enterprises and building an international
 Center was launched, further improving arrival and departure                                                                                                 of an aviation hub.
                                                                             trade bridge for Guangzhou brands.
 experiences for international guests.
                                                                             The Airport catering exhibition hall also opened at the Canton Fair
 Multilingual services ensured smooth communication.
                                                                             venue, o?ering more than ?? signature dishes representing various                   Practicing green operations and protecting the ecological environment: By continuously introducing electric ground service
 Large-scale recruitment of multilingual volunteers was carried
                                                                             Chinese regional cuisines, allowing international guests to experience
 out, AI simultaneous interpretation tools were promoted, and                                                                                                    equipment, upgrading energy-e?cient lighting systems, and optimizing energy management platforms, the Company
                                                                             the warmth of Chinese culinary culture.
 small-language service teams were formed in collaboration with                                                                                                  improves energy e?ciency and e?ectively reduces operational carbon emissions, striving to build a green airport and contrib-
                                                                                                                                                                 ute to climate change mitigation and ecological civilization development.
                                                                                                                                                                 Ful?lling emergency missions and safeguarding life channels: Priority support and rapid coordination are provided for rescue
                                                                                                                                                                 ?ights bound for disaster-a?ected areas, with dedicated“green channels”opened for both passenger and cargo transporta-
                                                                                                                                                                 tion. Relevant operational fees are reduced or exempted as appropriate to ensure that rescue personnel and relief supplies
                                                                                                                                                                 arrive at the earliest possible time, fully supporting emergency rescue and humanitarian assistance e?orts.
                                                                                                                                                                 Promoting regional prosperity and connecting culture with the economy: Through continuous optimization of domestic and
                                                                                                                                                                 international route networks and proactive aviation market expansion, the Airport attracts more business travelers and
                                                                                                                                                                 tourism resources, e?ectively driving the development of local tourism, exhibition industries, and related supply chains. In
                                                                                                                                                                 ????, leveraging its hub advantages, the Airport supported ?? exhibitions and conferences, generating revenue of approxi-
                                                                                                                                                                 mately RMB ??.?? million. The Airport also actively organized and participated in various aviation cultural exhibitions and city
   Public Welfare and Charity                                                                                                                                    image promotion activities, serving as a window for showcasing regional culture and promoting cultural exchange, and
                                                                                                                                                                 contributing to the integrated prosperity of the local economy and culture.
 Responsibility culture and volunteer services
                                                                                                                                                                 Public communication and collaboration to build collective governance: Through new media platforms such as the o?cial
 The Company actively promotes a culture of responsibility under the concept that“everyone can contribute to public welfare at everywhere.”                      website, WeChat o?cial account, and Weibo, the Company promptly releases information on public welfare activities, safe
 Employees are encouraged and supported to participate in volunteer services. The Baiyun Airport Volunteer Service Team operates on a regular                    operations, and service optimization. It also proactively invites public representatives and media journalists to visit the
 basis, and the“Cordial Service”volunteer program continues to expand its in?uence. Volunteers actively participate in community activities                      airport and organizes activities such as“Airport Open Day”and“Media Visits,”holding four such events in total. Public
 including elderly assistance, disability support, passenger guidance, environmental beauti?cation, and public welfare promotion, delivering                     representatives are invited to participate in supervision to ensure the public’s right to know and right to oversight. In
 warmth and convenience to the public, practicing the volunteer spirit of dedication, friendship, mutual assistance, and progress, and jointly                   addition, ?? corporate social responsibility promotion activities were carried out in communities and enterprises to promote
 building a better living environment.                                                                                                                           public welfare concepts, encouraging broader social participation in sustainable development and philanthropic initiatives,
                                                                                                                                                                 and fostering a strong collective force to jointly build a community of shared responsibility.
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                Practicing Social Responsibility / ESG Key Performance Indicators
                                                                                                                                                 ESG Key Performance Indicators
       Case:       Baiyun Airport Promotes the“Aviation + Consumption Assistance”Model
                                                                                                                                                  Indicator                                         Unit               2023             2024              2025
     Baiyun Airport actively supports assisted regions in expanding sales channels and enhancing brand value for their specialty
     agricultural products. Raoping County was coordinated to participate in the ???? International Airport Expo held at the Canton
                                                                                                                                                                                                       Environmental
     Fair Complex, and Guangzhou Sunshine Coast Catering Co., Ltd. reached a procurement agreement with the Raoping Supply                        Environmental Training
     and Marketing Cooperative for Raoping specialty agricultural products. Raoping beef meatballs have been introduced into
     retail outlets at Shantou High-Speed Railway Station and Guangzhou Wuzhi Braised Goose chain stores. Cooperation between                     Environmental Investment                       10,000 yuan            2782              3569              13168
     the Raoping Supply and Marketing Cooperative and the Airportpass also enabled the establishment of product pickup points                     Environmental Training Times                      Times                 1                 1                  2
     in the Comprehensive Service Building and Operations Control Center
     employee lounges, supporting the sale of Raoping specialty products
                                                                                                                                                  Total Training Hours                              Hours                16                24                 56
     while meeting employees’shopping needs. Labor unions across units                                                                            Number of participants                           Persons               40                42                 52
     were mobilized to implement provincial consumption assistance policies
     and actively purchase Raoping agricultural products. At the same time,                                                                       Environmental Activities                          Events                1                 1                  1
     the cultural and tourism resources of Raoping were leveraged by organiz-                                                                     Emissions
     ing employee recuperation programs and Party and Youth League
     activities in the region, stimulating local economic development through                                                                     Total Wastewater Discharge                          m?              7919300           7586600            7629800
     cultural tourism consumption.                                                                                                                Ammonia Nitrogen Emissions                         Tons               5.00               1.01              3.22
                                                                                                                                                  Ammonia Nitrogen Reduction                         Tons               405                115              492.67
       Case:       The ???? International Airport Expo Opens Grandly in Guangzhou                                                                 Chemical Oxygen Demand (COD) Emissions             Tons               91.47             86.32              75.37
                                                                                                                                                  Chemical Oxygen Demand (COD) Reduction             Tons               4385              3830               3947
                                                                     On September ?, the ???? International Airport Expo and the ??th                                                                                  261700           262800             263000
                                                                                                                                                  Wastewater Recycling Volume                         m?
                                                                     China Airport Service Conference o?cially opened at the Canton Fair
                                                                     Complex in Guangzhou under the theme“Innovative Hubs, Global                 Wastewater Recovery Rate                            %                  100               100                100
                                                                     Opportunities.”As another global aviation event hosted by Guang-                                                                                   3733              4030               4183
                                                                                                                                                  General Waste Emissions                            Tons
                                                                     zhou following the ???? World Routes Development Forum, the Expo
                                                                     attracted more than ?,??? industry experts and representatives from          Hazardous Waste Emissions                          Tons              97.08              52.02              52.95
                                                                     over ??? airports across more than ?? countries and regions (includ-                                                                               1.85               1.57               1.45
                                                                                                                                                  Direct Greenhouse Gas Emissions                10,000 tons
                                                                     ing ??? domestic airport groups and airports) as well as more than
                                                                     ??? civil aviation-related enterprises. The ?ve themed exhibition            Indirect Greenhouse Gas Emissions              10,000 tons            17.45             19.67              20.73
                                                                     areas, covering more than ??,??? square meters, showcased
                                                                                                                                                  Resource Usage
                                                                     cutting-edge technologies and industry achievements across the
                                                                     global civil aviation sector, creating a high-level platform for interna-    Total Annual Energy Consumption            Tons of standard coal     42952             45550              47565
                                                                     tional exchange and cooperation.
                                                                                                                                                  Clean Energy Usage                         Tons of standard coal       274               302                516
       Case:“Baoji Love Together, Warmth at Baiyun Airport”Public Welfare Event Supporting                                                        Clean Energy Proportion                             %                 0.64              0.66                1.08
             Passengers’Healthy Journeys                                                                                                          Total Annual Natural Gas Consumption                m?              735322             425571             669101
     On February ??, ????, the“Baoji Love Together, Warmth at Baiyun Airport”public welfare event, jointly organized by Baiyun Airport            Total Annual Electricity Consumption           10,000 kWh            26941             30358              32005
     and Wanglaoji Pharmaceutical, was held at the Flower Street booth area of Terminal ?, delivering New Year blessings to passengers            Total Annual Diesel Consumption                    Tons               4814              4347               3883
     traveling during the Spring Festival travel rush.
                                                                                                                                                  Total Annual Gasoline Consumption                  Tons               466                273                331
     At the public welfare activity zone, sta? distributed thoughtfully prepared New Year health gift packs to passing passengers, including
     herbal tea products, traditional Guangdong“lai see”red envelopes symbolizing good fortune at the start of work, and various                  Total Annual Fresh Water Consumption            10,000 m?              241               292                301
     practical items such as wet wipes.                                                                                                           Fresh Water Consumption per Unit Product    m?/10,000 people           381               382                360
     In addition to the warm service zone, the event also featured a fun lantern riddle game titled“Guess in the Year of the Snake.”Passen-                                                                           4696300           5201100            6502247
                                                                                                                                                  Office Paper Usage                                Sheets
     gers who answered correctly received a small prize on the spot, adding a unique and enjoyable experience to their waiting time at the
     airport.
                                                                                                                                                  Comprehensive Energy Consumption             tons of standard
                                                                                                                                                  per Unit of Passenger and Freight          coal / 10,000 people
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                                           ESG Key Performance Indicators
     Indicator                                            Unit                 2023年                 2024年                   2025年                 Indicator                                          Unit              2023       2024             2025
                                                                                                                                                   Employees Aged 40-49                                 %               25.48      26.00             26.32
                                                                            Social
                                                                                                                                                   Employees Aged 50 and Above                          %                15.15     16.17             16.25
     Development
                                                                                                                                                   R&D Personnel                                     Persons             140        193               393
     R&D investment                                        10,000 yuan          5032                    5322                    10245
                                                                                                                                                   Employees with Postgraduate and Above                %                3.88      4.09              4.59
     New Patents                                              Items                  12                    7                       16
                                                                                                                                                   Employees with Bachelor’s Degree                     %               33.36      34.69             37.99
     ACI Airport Service Quality Assessment Score            Points                  5                     5                       5
                                                                                                                                                   Employees with Associate Degree                      %               32.64      33.46             32.99
     Strategic Cooperation Agreements Signed                 Copies                  3                     5                       8
                                                                                                                                                   Employees with Technical Secondary or
                                                                                                                                                   Vocational School Degree                             %                6.96      6.62              5.83
     Economic Contract Fulfillment Rate                         %                100                     100                      100
     Number of Suppliers Reviewed                                                                                                                  Employees with High School or Below                  %               23.16      21.14             18.60
                                                              Units              388                      751                    1055
     During the Reporting Period
                                                                                                                                                   Female Managers Ratio                                %               34.91      34.75             35.41
     Total Tax Paid                                      100 million yuan        2.8                      3.5                    4.85
                                                                                                                                                   Employees with Disabilities                       Persons              8          9                10
     Service
                                                                                                                                                   New Hires                                         Persons             328        530              586
     Passenger Throughput                                10,000 people          6317                    7636                     8358
                                                                                                                                                   Labor Contract Signing Rate                          %                100        100               100
     Cargo and Mail Throughput                             10,000 tons           203                     238                      244
                                                                                                                                                   Training Coverage Rate                               %                100        100               100
     Aircraft Movements                                   10,000 flights          46                      51                       55
                                                                                                                                                   Total Training Investment                       10,000 yuan          669.94     761.44            889.1
     On-Time Flight Departure Rate                              %               87.46                   85.27                    89.37
                                                                                                                                                   Total Training Hours                               Hours             103346    148557            166933
     Transit Passenger Volume                            10,000 people           622                   1008.17                 1199.67
                                                                                                                                                   Average Training Hours per Employee                Hours              10.4      15.00             16.29
     Airportpass Memberships                             10,000 people          1386                     1440                    1508
                                                                                                                                                   Training Sessions                                  Terms              1193      1269              1548
     Safety
                                                                                                                                                   Training Participants                           Person-times         247349    263106            320989
     Safety Production Investment1                        10,000 yuan          86400                    95915                   106900
                                                                                                                                                   Employee Turnover Rate                               %                6.76      3.36              3.08
     Safety Hazard Inspections                                Items              262                      195                     360
                                                                                                                                                   Male Employee Turnover Rate                          %                5.95       2.32              2.71
     Safety Hazard Rectification rate                           %                100                     100                      100
                                                                                                                                                   Female Employee Turnover Rate                        %                8.19       5.19             3.78
     Safety Emergency Drills                                  Times              816                     1014                    1028
                                                                                                                                                   Turnover Rate for Employees Aged Below 29            %               13.75       7.57              7.41
     Emergency Training                                       Times              236                     248                      268
                                                                                                                                                   Turnover Rate for Employees Aged 30-39               %                3.38       2.42              1.8
     Safety Emergency Drills Participation                Person-times          24480                   31910                    41120
                                                                                                                                                   Turnover Rate for Employees Aged 40-49               %                3.30       2.17             1.89
     Continuous Safe Operation Days                            Day               365                     366                      365
                                                                                                                                                   Turnover Rate for Employees Aged 50 and Above        %                9.49       1.29              1.13
     Major Aviation Accidents                                 Times                  0                     0                       0
                                                                                                                                                   Social Insurance Coverage Rate                       %                100        100               100
     Rate of Ground Incidents                                                        0                     0                       0
     (Minor or Below)per 10,000 Movements                       %                                                                                  Health Checkup Coverage Rate                         %                100        100               100
     Safety Incidents Caused by Responsibility Reasons      Incidents                0                     0                       0               Work-related Accidents                             Times               0          0                 0
     Airport-caused Incident Rate per
                                                                %                    0                     0                       0               Community Contribution
                                                                                                                                                   Number of Employee Volunteers                     Persons             1717      5630              5611
     Employment
     Total Employees                                         Persons
                                                                                                                                                   Number of Public Welfare Projects                 Projects             10        31                46
     Male Employee Ratio                                        %                64.6                    64.6                    64.94
                                                                                                                                                                                                                 Governance
     Female Employee Ratio                                      %                35.4                    35.4                    35.06
                                                                                                                                                   Compliance
     Employees Aged Below 29                                    %
                                                                                                                                                   Legal Compliance Training Sessions                Sessions             26        33                31
     Employees Aged 30-39                                       %               37.59                   35.90                    34.12
                                                                                                                                                   Legal Compliance Training Participants            Persons             1354      1056              1309
 注:1 This ?gure is compiled by the Company for internal statistical purposes. The o?cial result shall be subject to the statistics calculated in
     accordance with the Measures for the Financial Assessment of Safety Assurance of Civil Aviation Enterprises.
 ???? Environmental, Social and Governance(ESG) Report                                                                                                                                                            ESG Issues Index Table / About This Report
ESG Issues Index Table                                                                                                 About This Report
                                                                                                                       This report systematically discloses the Company’s management philosophy, highlights, practices and related achievement s in
                                                Issue                                                                  the ?elds of environmental, social, and governance (ESG) work. Through the publication of this ESG report, we aim to strengthen
                                                                                                                       communication with stakeholders, build consensus, and jointly promote sustainable development.
     Dimension        Guidelines No. 14 of Shanghai Stock Exchange for                    Chapter
                                                                                                                       Reporting Period
                     Self-Regulation of Listed Companies—Sustainability
                      Report (Trial) and Entity-Specific ESG Disclosures
                                                                                                                       This is an annual report covering the period from January ? to December ??, ????. To enhance the report’s comparability and
                                    Sound Corporate Governance
                                                                             Adhere to the Leadership of the Party     forward-looking insight, certain content may be appropriately extended to previous or subsequent years.
                                                                                 Enhancing ESG Management
                                                                                                                       Organizational Scope
                                      Stakeholder Engagement                   Deepening Corporate Governance
                                                                            Investor Communication and Protection
                                                                                                                       This report covers Guangzhou Baiyun International Airport Co., Ltd. And its subsidiaries. For ease of expression, references such
                                                                                   Enhancing Compliance
                                       Compliance Operations
                                                                                                                       as“Baiyun Airport,” “the Company,”and“we”are used interchangeably throughout the report.
                                                                                   Management Capabilities
      Governance
                                           Due Diligence                          Enhancing Internal Control
                                  Anti-Bribery and Anti-Corruption                                                     Reference Standards
                                                                                                                         
 
  
  (issued by the State-owned Assets Supervision and
                                       Anti-Unfair Competition                Building a Corruption-Free Airport         Administration Commission of the State Council, SASAC)
                                       Fair Treatment of SMEs                                                            


 
?? ?   ? (issued by SASAC)
                                                                                                                         ? 
  ?
  ? 
   ? ? (jointly issued by the Ministry of Finance, Ministry of Foreign A?airs,
                                                                                                                         National Development and Reform Commission, Ministry of Industry and Information Technology, Ministry of Ecology and Environ-
                                     Climate Change Response                      Climate Change Response
                                                                                                                         ment, Ministry of Commerce, People's Bank of China, SASAC, National Financial Regulatory Administration, and China Securities
                                                                                                                         Regulatory Commission)
                                          Energy Utilization
                                    Water Resource Management                   Optimizing Resource Utilization          ????
  
? 

 ?? ?
  
 ? ?
                                          Circular Economy                                                               ???

 
??? 
?? 
  ??

                                                                                                                         ? 
 
 
? ??

???? by the Chinese Academy of Social Sciences
                               Environmental Compliance Management          Environmental Compliance Management
     Environmental                                                                                                          (???????????)by the Standardization Administration of China
                                  Pollution Prevention and Control

  

  (

  )by the Global Sustainability Standards Board (GSSB)
                                                                              Strengthening Pollution Prevention
                                                                                                                         United Nations ???? Sustainable Development Goals (SDGs)
                                         Pollutant Emissions
                                                                                         and Control
                                                                                                                       Information Sources
                                        Waste Management
                                Ecosystem and Biodiversity Protection         Advancing Ecological Governance
                                                                                                                       All data contained in this report are sourced from the Company’s o?cial documents, statistical reports, or other publicly available
                                    Green Awareness Promotion                    Promoting Green Awareness             information.
                                                                                                                       Reliability Assurance
                                                                                Strengthening Hub Efficiency
                               Product and Service Safety and Quality           Safeguarding Safe Travel
                                                                                                                       The Board of Directors and all directors of the Company hereby warrant that this report contains no false records, misleading,
                                                                                Cultivating Service Excellence
                                                                                                                       statements, or material omissions, and bear responsibility for the authenticity, accuracy, and completeness of its contents.
                                   Innovation-driven Development                 Stimulating Innovation Vitality
                                         Technology Ethics                     Emphasizing Technology Ethics           Report Availability
        Social              Data Security and Customer Privacy Protection        Protecting Customer Privacy           This report is published in both Chinese and English. In case of any discrepancies between the two versions, the Chinese version shall
                                                                                                                       prevail. You may download the electronic version of the report from the o?cial website of Guangzhou Baiyun International Airport or
                                             Employees                      Protecting Employee Rights and Interests   obtaion a copy by contacting us via email at ??????@gdairport.com.
                                                                                                                       Feedback
                                        Supply Chain Security               Standardizing Supply Chain Management
                                         Social Contribution
                                                                                Practicing Social Responsibility       To support the continuous improvement of the Company’s ESG management, we welcome your
                                         Rural Revitalization                                                          comments and suggestions. Please scan the QR code on the right to submit your feedback.
                                                                                                                                                                                                                                                      Feedback Form

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