Core Viewpoint - AVIC Aircraft (02357.HK) reported that Hongdu Aviation (600316.SH) achieved operating revenue of 3.133 billion yuan in the first three quarters of 2025, representing a year-on-year increase of 3.41% [1] Financial Performance - Operating revenue for Hongdu Aviation reached 3.133 billion yuan, up 3.41% year-on-year [1] - Net profit attributable to shareholders of Hongdu Aviation was 11.8744 million yuan, down 16.49% year-on-year [1] - Net profit attributable to shareholders after deducting non-recurring gains and losses was 9.3361 million yuan, down 21.46% year-on-year [1] - Basic earnings per share stood at 0.0166 yuan [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因 倚賴該等內容而引致之任何損失承擔任何責任。 中國航空科技工業股份有限公司 AviChina Industry & Technology Company Limited* (於中華人民共和國註冊成立之股份有限公司) (股份代號：2357) 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 以下爲江西洪都航空工業股份有限公司於上海證券交易所所網站刊發之公告。 承董事會命 中國航空科技工業股份有限公司 公司秘書 吳筠 北京，二零二五年十月二十九日 *僅供識別 江西洪都航空工业股份有限公司 2025 年第三季度报告 证券代码：600316 证券简称：洪都航空 江西洪都航空工业股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完 ...

Core Viewpoint - Hongdu Aviation (600316.SH) reported a decline in both revenue and net profit for the third quarter, indicating potential challenges in its financial performance [1] Financial Performance - The company achieved an operating revenue of 1.609 billion yuan, a year-on-year decrease of 3.44% [1] - The net profit attributable to shareholders was 7.4267 million yuan, down 30.43% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 6.9 million yuan, reflecting a year-on-year decline of 33.47% [1] - Basic earnings per share were reported at 0.0104 yuan [1]

Financial Performance - Total revenue for the third quarter was CNY 1,609,080,198.95, a decrease of 3.44% compared to the same period last year[3] - Net profit attributable to shareholders was CNY 7,426,670.70, down 30.43% year-on-year[3] - Basic earnings per share for the third quarter was CNY 0.0104, reflecting a decrease of 30.43% compared to the previous year[3] - Total operating revenue for the first three quarters of 2025 reached ¥3,132,941,816.45, a 3.4% increase from ¥3,029,494,180.24 in the same period of 2024[18] - Operating profit for the first three quarters of 2025 was ¥18,129,438.93, compared to ¥13,767,595.21 in 2024, reflecting a significant improvement[19] - Net profit for the first three quarters of 2025 was ¥11,874,354.74, down from ¥14,219,398.53 in 2024, indicating a decrease of approximately 16.5%[19] - The basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.0166, compared to ¥0.0198 in 2024, reflecting a decrease of 16.2%[19] - Other comprehensive income after tax for the first three quarters of 2025 was ¥25,437,422.41, compared to a loss of ¥4,078,143.46 in 2024, indicating a significant turnaround[19] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 16,304,724,666.40, an increase of 6.16% from the end of the previous year[4] - Total assets increased to ¥16,304,724,666.40 in 2025 from ¥15,358,973,279.99 in 2024, marking a growth of 6.1%[16] - Total liabilities rose to ¥10,937,342,086.98 in 2025, up from ¥10,024,596,865.51 in 2024, representing an increase of 9.1%[16] - The total current assets as of September 30, 2025, amounted to RMB 14,473,636,987.20, an increase from RMB 13,536,757,422.57 as of December 31, 2024, reflecting a growth of approximately 6.9%[14] - The company's total equity increased to ¥5,367,382,579.42 in 2025 from ¥5,334,376,414.48 in 2024, showing a growth of 0.6%[16] Cash Flow - Cash flow from operating activities for the year-to-date period was CNY 232,539,894.54, up 55.44% compared to the same period last year[5] - Cash flow from operating activities for the first three quarters of 2025 was ¥2,487,113,735.25, a decrease from ¥2,657,315,051.64 in 2024, reflecting a decline of 6.4%[21] - Net cash flow from operating activities was $232.54 million, an increase from $149.60 million year-over-year[22] - The net increase in cash and cash equivalents was $205.21 million, compared to $94.22 million in the previous period[22] - The ending balance of cash and cash equivalents was $378.83 million, down from $878.43 million year-over-year[22] Investments and Expenses - Research and development expenses for the first three quarters of 2025 were ¥33,999,168.04, down from ¥43,275,463.77 in 2024, indicating a reduction of 21.4%[18] - The company's long-term equity investments slightly decreased to RMB 386,694,743.42 from RMB 389,800,632.46, a decline of about 0.8%[14] - Cash outflow from financing activities was $12.19 million, up from $10.76 million in the previous period[22] - Total cash outflow from investing activities amounted to $15.12 million, compared to $45.20 million in the previous period[22] - Net cash flow from investing activities was -$15.08 million, improving from -$44.57 million year-over-year[22] Shareholder Information - The company reported a total of 313,883,294 shares held by China Aviation Technology Industry Company, accounting for 43.77% of total shares[10] - The top ten shareholders collectively hold a significant portion of the company's shares, with the largest shareholder being a state-owned entity[10] - There were no changes in the participation of major shareholders in margin financing and securities lending activities[11] Operational Insights - The company has not reported any significant changes in its operational strategies or market expansion plans during the reporting period[12] - Sales expenses rose by 66.85% year-to-date, attributed to an increase in sales personnel[7] - The company reported a decrease of 49.86% in accounts receivable, reflecting the collection of overdue payments[7] - Accounts receivable rose to RMB 5,671,794,025.17, up from RMB 4,133,710,141.07, indicating an increase of approximately 37.3%[14] - Inventory levels increased to RMB 3,396,951,105.83 from RMB 3,038,081,378.92, showing a growth of around 11.8%[14] - The total non-current assets were reported at RMB 1,719,000,000, with fixed assets valued at RMB 1,119,854,757.47, down from RMB 1,170,334,575.72, reflecting a decrease of approximately 4.3%[14] - The weighted average return on equity decreased by 0.06 percentage points to 0.14%[3] - The company's cash and cash equivalents increased by 118.20%, primarily due to the collection of receivables[7]

Core Viewpoint - The aviation equipment sector experienced a rise of 1.11% on October 28, with Tongyi Aerospace leading the gains, while the overall market indices showed a decline [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 3988.22, down 0.22%, and the Shenzhen Component Index closed at 13430.1, down 0.44% [1]. - Key stocks in the aviation equipment sector showed significant gains, with Tongyi Aerospace rising by 6.00% to a closing price of 17.15 [1]. Group 2: Stock Performance - Notable performers included: - Filihua, which increased by 5.47% to 88.00, with a trading volume of 444,000 shares and a transaction value of 3.838 billion [1]. - Maixinlin, up 5.02% to 65.69, with a trading volume of 81,700 shares and a transaction value of 536 million [1]. - Chengxi Aviation, which rose by 4.91% to 17.31, with a trading volume of 430,300 shares and a transaction value of 739 million [1]. Group 3: Capital Flow - The aviation equipment sector saw a net inflow of 308 million from institutional investors, while retail investors experienced a net outflow of 360 million [2][3]. - Key stocks with significant capital inflows included: - Filihua with a net inflow of 318 million, accounting for 8.30% of its trading volume [3]. - Zhonghang Shenfei with a net inflow of 284 million, representing 11.17% of its trading volume [3].

Core Viewpoint - Hongdu Aviation's stock price has shown a year-to-date increase of 8.56%, with recent fluctuations indicating a 2.20% rise over the last five trading days, but a decline of 3.01% over the past 20 days and 20.62% over the last 60 days [2] Financial Performance - For the first half of 2025, Hongdu Aviation reported a revenue of 1.524 billion yuan, reflecting a year-on-year growth of 11.79%, while the net profit attributable to shareholders was 4.4477 million yuan, up 25.48% year-on-year [2] - Cumulatively, the company has distributed 610 million yuan in dividends since its A-share listing, with 65.2574 million yuan distributed over the past three years [3] Stock Market Activity - As of October 28, Hongdu Aviation's stock price reached 34.85 yuan per share, with a trading volume of 224 million yuan and a turnover rate of 0.91%, resulting in a total market capitalization of 24.991 billion yuan [1] - The net inflow of main funds was 27.7663 million yuan, with significant buying activity from large orders [1] Shareholder Structure - As of June 30, 2025, the top ten circulating shareholders included several institutional investors, with notable increases in holdings from institutions such as the Bank of Communications Advanced Manufacturing Mixed Fund and the Fortune China Securities Military Industry Leader ETF [4]

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2025 年 11 月 3 日（星期一）14:00-15:00 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 证券代码：600316 证券简称：洪都航空 公告编号：2025-031 江西洪都航空工业股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 10 月 27 日（星期一）至 10 月 31 日（星 期五）16:00 前登录上证路演中心网站首页，点击"提问预征集"栏 目或通过公司邮箱 hd600316@hongdu.com.cn 向公司提问，公司将在 说明会上对投资者普遍关注的问题进行回答。 江西洪都航空工业股份有限公司（以下简称"公司"）预计将于 2025 年 10 月 30 日发布《公司 2025 年第三季度报告》。为便于广大 投资者更全面深入地了解公司 2025 年前三季度的经营成果、财务状 况，公司计划 ...

Group 1 - The commercial aerospace sector is experiencing a surge, with significant stock price increases for companies like China Satellite, Shanghai Hanxun, and Aerospace Electronics, leading to a rise in aerospace ETFs [1] - A major conference has prioritized technological self-reliance and highlighted the goal of becoming a "strong aerospace nation," further elevating the status of commercial aerospace [1] - The conference also emphasized the modernization of national defense and military, indicating a strategic focus on emerging industries such as commercial aerospace, low-altitude economy, unmanned equipment, and deep-sea information technology as future directions for the military industry [1] Group 2 - The low-altitude economy is gaining attention, with the General Aviation ETF showing a 2.06% increase, focusing on companies involved in the development of general aviation aircraft and drones [2] - Key companies in the low-altitude economy include Wan Feng Ao Wei, Hongdu Aviation, Aerospace Rainbow, and AVIC Helicopter, which are engaged in various aspects of general aviation and drone technology [2]

Market Overview - The aviation equipment sector rose by 0.91% on October 21, with Filihua leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Stock Performance - Filihua (300395) saw a significant increase of 14.17%, closing at 80.50 with a trading volume of 426,500 shares [1] - Other notable performers included Hangxin Technology (300424) with a 6.02% increase, and Hangyu Technology (688239) with a 4.42% increase [1] - The table below summarizes the performance of key stocks in the aviation equipment sector: | Code | Name | Closing Price | Change (%) | Volume (thousand) | |--------|--------------|---------------|------------|-------------------| | 300395 | Filihua | 80.50 | 14.17 | 426.5 | | 300424 | Hangxin Tech | 17.79 | 6.02 | 248.6 | | 688239 | Hangyu Tech | 43.67 | 4.42 | 48.3 | | 920642 | Tongyi Aerospace | 14.97 | 2.46 | 20.1 | | 002297 | Boyun New Material | 9.00 | 2.39 | 471.7 | | 603261 | *ST Lihang | 21.10 | 2.23 | 12.5 | | 300034 | Steel Research | 16.38 | 2.12 | 120.9 | | 920006 | Shengcao Technology | 27.85 | 1.94 | 11.3 | | 688287 | *ST Guandian | 4.78 | 1.92 | 14.9 | | 002625 | Guangqi Technology | 46.78 | 1.92 | 189.7 | [1] Capital Flow - The aviation equipment sector experienced a net inflow of 601 million yuan from institutional investors, while retail investors saw a net outflow of 454 million yuan [2] - The following table outlines the capital flow for key stocks: | Code | Name | Institutional Net Inflow (yuan) | Institutional Net Ratio | Retail Net Inflow (yuan) | Retail Net Ratio | |--------|--------------|----------------------------------|-------------------------|--------------------------|------------------| | 300395 | Filihua | 439 million | 13.32% | -83.56 million | -10.78% | | 688122 | Western Superconductor | 92.06 million | 7.09% | -36.26 million | -4.30% | | 300424 | Hangxin Tech | 54.02 million | 12.49% | -798,450 | -10.64% | | 600893 | Aero Engine | 47.64 million | 7.85% | 390,730 | -8.50% | | 688237 | Superlative Aerospace | 28.34 million | 18.13% | 530,500 | -21.53% | [3]

Core Viewpoint - Hongdu Aviation's stock price has experienced a decline recently, with a notable drop of 10.62% over the last five trading days, despite a year-to-date increase of 6.69% [2]. Financial Performance - For the first half of 2025, Hongdu Aviation reported revenue of 1.524 billion yuan, reflecting a year-on-year growth of 11.79%. The net profit attributable to shareholders was 4.4477 million yuan, marking a 25.48% increase compared to the previous year [2]. - Cumulatively, Hongdu Aviation has distributed 610 million yuan in dividends since its A-share listing, with 65.2574 million yuan distributed over the last three years [3]. Stock Market Activity - As of October 20, Hongdu Aviation's stock price was 34.25 yuan per share, with a market capitalization of 24.561 billion yuan. The trading volume was 222 million yuan, with a turnover rate of 0.89% [1]. - The net outflow of main funds was 26.0233 million yuan, with large orders showing a buy of 30.2864 million yuan and a sell of 37.3066 million yuan [1]. Shareholder Structure - As of June 30, 2025, the top ten circulating shareholders included several funds, with notable increases in holdings from institutions such as交银先进制造混合A and富国中证军工龙头ETF [4].