In the core area of city development, parking assets have become extremely valuable resources due to their irreplaceable demand and the non-renewability of their geographical location. The pioneers of the industry who seize these high-quality assets will create an insurmountable competitive advantage for the later competitors.
This point has been fully reflected in the business development of Shoucheng Holding. Through precise strategic layout, it has established a strong brand influence and operational strength in the field of parking asset management, and continues to expand its advantages.
Today, Shoucheng Holding announced in a public notice that it has been selected for the transfer of the operating rights of Tianjin Binhai International Airport parking business. It has signed an "Operating Rights Transfer Agreement" with Tianjin Binhai International Airport Limited, obtaining a total of 0.325 million square meters of social parking lots, ground staff parking lots, and taxi holding areas, totaling approximately 2,842 parking spaces for a 4-year operation/management rights, with the option to renew the agreement once.
From the perspective of the capital market, what signal does Shoucheng's landing at Tianjin Binhai International Airport release?
1. Secure key support point in the Jing-Jin-Ji airport cluster and strengthen parking asset management capabilities.
First of all, from the positioning of Tianjin Binhai International Airport, it is a regional hub airport, a China International Aviation Logistics Center, a national first-class aviation port open to the outside world, and one of China's main aviation cargo centers. It plays a crucial role in the transportation hub field of the Beijing-Tianjin-Hebei urban agglomeration.
At present, the Jing-Jin-Ji airport cluster has initially formed a three-level airport echelon of "dual core" (Beijing Capital Airport+Daxing Airport) + "dual auxiliary" (Tianjin Binhai Airport+Shijiazhuang Airport) + "multiple nodes" (branch line airports + general aviation airports). This promotes the three air hubs to become important support points that connect internationally and facilitate dual circulation.
Therefore, Shoucheng Holding's acquisition of the Tianjin Binhai International Airport parking project not only reflects the market's recognition of the company's brand advantage and operational service capabilities in airport parking asset management, but also consolidates the company's leadership position in the industry.
Relying on its rich operational experience in projects such as Beijing Capital Airport, Daxing Airport, and Zhangjiakou Airport, Shoucheng is expected to form a synergistic effect with Tianjin Binhai International Airport. Through efficient empowerment, it will provide integrated travel support services for Beijing-Tianjin-Hebei integration, with the aim of expanding its leading position in this field, and better product and service feedback to the market, continuously providing comfortable parking experiences for travelers. In addition, the company can also deepen cooperation with Tianjin City and contribute greater strength to the coordinated development of Beijing-Tianjin-Hebei.
At the same time, the continuous driving force at the policy level will continue to raise the growth ceiling of Shoucheng's business.
The "14th Five-Year Plan" for the Development of Aviation Logistics in Tianjin, released by the Tianjin Municipal Government, explicitly states that by 2025, it will fully implement the national development positioning of international aviation cargo hubs, establish multi-modal transport service channels such as "air-land", "air-rail", and "air-sea", and establish China's international aviation logistics center.
It is reported that Tianjin Binhai International Airport is still undergoing continuous expansion and upgrading. For example, the new T3 terminal building will cover an area of 0.41 million square meters, and the estimated annual passenger throughput will reach 55 million, with a total investment of up to 18.862 billion yuan. This will not only enhance its passenger throughput capacity and service level once again, but also bring new growth opportunities and development momentum for Shoucheng's parking asset management business.
2. Looking to the future, what is the supporting logic for sustained growth?
Currently, Shoucheng's parking asset management business has achieved a nationwide "east, south, west, north, and central" comprehensive network layout.
Taking a broader perspective, the growth logic of Shoucheng is not only dependent on this geographical coverage, but also on the company's business model and development strategy.
One of the unique features of Shoucheng Holdings is its ability to maximize the use of "asset operation" and "asset financing", and with efficient infrastructure asset management business, deeply link funds and assets, thereby revitalizing infrastructure assets.
Simply put, if we only focus on operations management, we may find it difficult to control assets effectively and meet the higher-level needs of customers. Only by combining asset connectivity and asset management, can we more quickly and effectively improve asset efficiency and achieve higher quality development.
Shoucheng's financial performance directly provides compelling evidence.
According to the latest financial report, the company achieved a revenue of 0.536 billion Hong Kong dollars in the first half of the year, with a growth rate of 55%, and a gross profit of 0.233 billion Hong Kong dollars, with a staggering growth rate of 135%. Among them, asset operating income was 0.406 billion Hong Kong dollars, with a growth rate of 40%, while asset connectivity income reached 0.13 billion Hong Kong dollars, with a growth rate of 138%. In addition, the company also declared a dividend of 2.86 Hong Kong cents per share in the first half of the year, with a dividend payout ratio of 80%, maintaining at a high level.
These data not only demonstrate the strong performance and stable high-growth trend of Shoucheng's business, but also indicate that the company's infrastructure asset management business has entered the fast lane of development.
Based on such performance and business development trends, it can be predicted that after this cooperation with Tianjin Binhai International Airport, as well as the cooperation with more heavyweight parking projects in the future, Shoucheng will continue to see performance growth. This growth is not only a numerical improvement, but also a reflection of the market's recognition of the company's strategic layout and core capabilities.
Summary.
It is obvious that the growth flywheel of Shoucheng has long been set in motion.
From a professional investment perspective, in the past month, multiple brokerage institutions such as CICC and China Securities Co., Ltd. have expressed positive expectations for the subsequent growth of Shoucheng Holdings. Therefore, we can have a little more patience regarding the performance of Shoucheng in the capital markets.