BEIJING AIRPORT (00694) declined more than 3% against the broader market trend. As of the time of writing, the stock was down 3.5%, trading at HKD 2.48, with a turnover of HKD 19.6381 million. On the news front, Beijing Capital International Airport Co., Ltd. announced on the evening of February 6th that the company anticipates an approximate pre-tax loss ranging from RMB 480 million to RMB 560 million for 2025. This represents a year-on-year decrease of about 11.1% to 23.8%. The projected net loss is between approximately RMB 600 million and RMB 760 million, which is a reduction of about 45.3% to 56.8% compared to the previous year. According to the announcement, the company is strictly adhering to corporate accounting standards and has reassessed the carrying value of its deferred tax assets at the balance sheet date. This led to the reversal of a portion of these deferred tax assets in the 2025 fiscal year, resulting in increased income tax expenses and consequently widening the expected loss for 2025.