Beijing Capital International Airport Company Limited (BCIA, HKEX: 00694) has executed a new Power and Energy Operation & Maintenance (O&M) Services Framework Agreement with Capital Airports Power and Energy Co., Ltd., a wholly owned unit of BCIA’s 58.96% shareholder Capital Airports Holdings.

Signed on 29 September 2026, the agreement renews and replaces the framework expiring on 31 December 2026. It covers comprehensive O&M support for heating, ventilation and air-conditioning, electricity, water, drainage, building automation, lighting, sewage, waste incineration and other utility systems across Terminals 1–3, the airfield, public zones and ancillary facilities of Beijing Capital Airport.

Key commercial terms • Tenor: 1 January 2027–31 December 2029 • Expected annual caps: RMB185.00 million for 2027, RMB195.00 million for 2028, and RMB205.00 million for 2029 – a steady RMB10 million year-on-year step-up driven by anticipated expansions at Terminal 3 and higher labour, spare-parts and management costs. • Pricing mechanism: service fees set through arm’s-length negotiation, reflecting labour, materials, management expenses, reasonable profit and taxes. The provider undertakes not to charge BCIA rates higher than those offered to independent third parties at the airport.

Historical reference Under the current framework (2024-26), unaudited transaction value reached RMB186.00 million in 2024 and RMB207.00 million in 2025, with RMB108.00 million recorded for the eight months to 31 August 2026, all within existing annual caps (RMB203.00 million–223.00 million).

Regulatory status Because the highest applicable percentage ratio for the new framework is above 0.1% but below 5%, the transaction is classified as a continuing connected transaction under HKEX Listing Rule 14A. It is subject to disclosure and annual review requirements but is exempt from independent shareholders’ approval.

Rationale BCIA cites the counterparty’s unique ownership of the airport’s energy pipelines and long-standing expertise as critical to ensuring uninterrupted utilities for airport operations, particularly amid ongoing infrastructure upgrades at Terminal 3. The board, with interested directors abstaining, concluded the deal is on normal commercial terms and in the best interests of BCIA and its shareholders.