Financial Performance - The net profit attributable to the parent company for 2022 was CNY 871,912,569.27, with no cash dividends or stock bonuses proposed[2]. - The company's operating revenue for 2022 was approximately ¥11.19 billion, representing a 13.69% increase compared to ¥9.84 billion in 2021[14]. - Net profit attributable to shareholders for 2022 was approximately ¥871.91 million, a 9.17% increase from ¥798.70 million in 2021[14]. - The net cash flow from operating activities for 2022 was negative at approximately -¥793.67 million, a significant decrease of 151.21% compared to ¥1.55 billion in 2021[14]. - The total assets at the end of 2022 were approximately ¥28.40 billion, an 8.15% increase from ¥26.26 billion at the end of 2021[16]. - The net assets attributable to shareholders at the end of 2022 were approximately ¥12.19 billion, an increase of 8.44% from ¥11.24 billion at the end of 2021[16]. - Basic earnings per share for 2022 were ¥0.4546, reflecting a 9.15% increase from ¥0.4165 in 2021[17]. - The weighted average return on equity for 2022 was 7.44%, an increase of 0.13 percentage points from 7.31% in 2021[17]. - The company reported non-recurring gains of approximately ¥176.95 million for 2022, compared to ¥111.35 million in 2021[20]. Asset Restructuring - The company is currently in the implementation phase of a major asset restructuring involving the merger with AVIC Electromechanical Systems Co., Ltd., approved by the China Securities Regulatory Commission in December 2022[2]. - The company plans to expedite profit distribution matters after the completion of the major asset restructuring, in accordance with regulatory requirements and company bylaws[2]. - The company emphasizes the importance of investor returns and aims to ensure smooth progress in the restructuring work[2]. - The company successfully completed the merger and acquisition project with a 98.4% approval rate at the shareholders' meeting on October 26[23]. - The company plans to merge with AVIC Electromechanical Systems Co., Ltd. through a share swap and raise supporting funds, with the transaction approved by relevant authorities[52]. - The company aims to enhance its long-term development and sustainable operational capacity through the merger, which aligns with the interests of all shareholders[55]. - The company is focused on compliance with regulations regarding major asset restructuring, ensuring that the transaction does not dilute immediate returns[77]. Research and Development - Research and development expenses surged by 44.04% to ¥1,191,397,963.75, up from ¥827,134,387.49 in the previous year[32]. - The total R&D expenditure for the period was CNY 1,191,397,963.75, accounting for 10.65% of the operating revenue[39]. - The number of R&D personnel is 3,628, representing 31% of the total workforce[40]. - The company is focusing on technological innovation, with breakthroughs in several key aerospace electronic technologies supporting product development and delivery[24]. - The company emphasizes the importance of technological innovation, particularly in emerging fields such as quantum science and artificial intelligence, to drive avionics technology advancements[59]. Compliance and Governance - The company has established a comprehensive compliance management system, identifying five major risks for 2022 while ensuring no significant compliance issues occurred in subsidiaries[25]. - The company has implemented a governance structure that aligns with regulatory requirements, ensuring that the board of directors and management operate independently and in compliance with laws[70]. - The company has a total of 11 directors, including 4 independent directors, adhering to the relevant requirements for board composition[71]. - The company has established a performance evaluation and incentive mechanism to enhance the effectiveness and motivation of its management team[72]. - The company maintains transparency in information disclosure, with the chairman responsible for ensuring compliance with disclosure regulations[73]. - The company has established specialized committees, including an audit committee and a strategic committee, to enhance governance and oversight[93]. Market Expansion and Strategy - The company is actively expanding its civil aviation strategy, becoming a supplier for the C919 project and enhancing its product offerings in various aircraft categories[23]. - The company aims to enhance its competitiveness in the avionics system industry by 2025, focusing on advanced product systems and a robust innovation framework[63]. - The company is committed to expanding its defense business by exploring new markets in aerospace, weaponry, and naval sectors[64]. - The company is enhancing its capabilities in civil aviation services, including parts distribution and maintenance, to capture new growth opportunities[65]. - The company is actively pursuing mergers and acquisitions to strengthen its position as a leading integrated supplier in the avionics system sector[60]. Environmental and Social Responsibility - The company invested ¥9.8942 million in environmental protection during the reporting period[114]. - The company successfully achieved zero environmental pollution incidents and met all environmental discharge standards[114]. - The company reduced carbon emissions by 2,299 tons through the use of clean energy and carbon reduction technologies[122]. - A total of ¥1.1699 million was invested in public welfare projects, benefiting 24,600 people[123]. - The company contributed ¥4.983 million to poverty alleviation and rural revitalization projects, benefiting 16,420 people[124]. - The company has established a comprehensive environmental management system to ensure compliance with national regulations[116]. Financial Management - The company has a structured performance evaluation and incentive system for the remuneration of directors, supervisors, and senior management, which is approved by the shareholders' meeting[84]. - The company has a dedicated team for financial planning and investment, aimed at optimizing resource allocation and enhancing financial performance[82]. - The company has committed to maintaining a competitive and fair compensation policy linked to individual performance and company profitability[104]. - The company reported a total of 11,247 employees, with 11,236 in major subsidiaries and 11 in the parent company[101]. - The company has 2,060 employees with a master's degree or above, and 4,696 with a bachelor's degree[101]. Risks and Challenges - The company faces intensified market competition risks due to the entry of new competitors, including private enterprises, as a result of national military-civilian integration strategies and state-owned enterprise reforms[67]. - Supply chain risks are heightened by U.S. trade restrictions on China, potentially impacting the procurement of electronic components essential for the company's aviation electronic products[67]. - The company has a long supply chain and lengthy aircraft development cycles, leading to high accounts receivable and inventory levels, which may affect asset turnover efficiency[67]. Shareholder Engagement - The company plans to implement a shareholder return plan for the next three years (2022-2024) as discussed in the third extraordinary general meeting on November 15, 2022[77]. - The company will provide dissenting shareholders with a buyout option at a price of 18.44 CNY per share, ensuring protection of minority shareholder interests[127]. - The cash buyout option for dissenting shareholders of AVIC Electromechanical is set at 10.33 CNY per share, with adjustments for any dividends or stock distributions prior to the buyout[128].

Financial Performance - The company's operating revenue for Q3 2022 was ¥2,713,113,531.40, representing a year-on-year increase of 16.89%[4] - The net profit attributable to shareholders for Q3 2022 was ¥175,055,846.92, showing a decrease of 7.99% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥150,560,016.61, down 13.55% year-on-year[4] - The basic earnings per share for Q3 2022 was ¥0.0913, a decrease of 6.44% compared to the same period last year[5] - Total operating revenue for the first three quarters of 2022 reached ¥7,900,349,366.43, an increase of 13.9% compared to ¥6,936,901,675.87 in the same period of 2021[18] - Net profit for the third quarter of 2022 was ¥719,850,494.64, compared to ¥595,084,309.40 in the same quarter of 2021, representing a growth of 20.9%[20] - The total comprehensive income for Q3 2022 was approximately ¥660.10 million, compared to ¥573.04 million in Q3 2021, marking an increase of 15.2%[45] Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥27,539,617,045.11, an increase of 4.86% from the end of the previous year[5] - The total liabilities as of the end of the third quarter of 2022 were ¥15,217,591,526.61, compared to ¥14,610,617,855.42 at the end of the same quarter in 2021, indicating a rise of 4.1%[17] - The company's equity attributable to shareholders reached ¥11,886,792,744.81, an increase from ¥11,236,846,294.54 in the previous year, reflecting a growth of 5.8%[17] - The total non-current assets include fixed assets valued at ¥4,179,505,725.87 as of September 30, 2022[15] Cash Flow - The cash flow from operating activities was negative at -¥1,910,581,111.79, indicating a significant cash outflow[5] - The net cash flow from operating activities for Q3 2022 was negative at CNY -1,910,581,111.79, compared to a positive cash flow in the same period last year[29] - Cash inflow from operating activities totaled ¥4.35 billion, down from ¥7.37 billion in Q3 2021, indicating a decrease of 41.0%[46] - The company's cash and cash equivalents as of September 30, 2022, amount to ¥1,570,620,765.24, a decrease from ¥3,940,252,497.35 at the end of 2021[15] Research and Development - Research and development expenses increased by 38.77%, primarily due to increased investment in R&D[10] - Research and development expenses for the third quarter of 2022 amounted to ¥770,642,946.76, an increase of 38.7% from ¥555,348,637.87 in the previous year[20] Shareholder Information - The total number of common shareholders at the end of the reporting period is 70,320[11] - The largest shareholder, China Aviation Technology Industry Group Co., Ltd., holds 760,323,599 shares, accounting for 39.43% of the total shares[11] Mergers and Acquisitions - The company plans to merge with AVIC Electromechanical Systems Co., Ltd. through a share swap, pending regulatory approvals[13] - The company has received preliminary approvals from relevant authorities for the merger and financing plan[13] - The company is actively working on the merger process, which carries uncertainties regarding its implementation[13] Investment Income - Investment income surged by 874.70%, mainly due to gains from debt restructuring[10] - The company reported a significant increase of 460.45% in asset disposal income, attributed to higher gains from the disposal of non-current assets[10]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥5,187,235,835.03, representing a 12.38% increase compared to ¥4,615,749,808.19 in the same period last year[15]. - The net profit attributable to shareholders for the first half of 2022 was ¥519,981,498.14, a 35.10% increase from ¥384,898,026.33 in the previous year[15]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥436,366,884.34, up 28.54% from ¥339,484,414.21 year-on-year[15]. - The basic earnings per share for the first half of 2022 was ¥0.2711, reflecting a 35.08% increase from ¥0.2007 in the same period last year[16]. - Total profit reached 569 million yuan, reflecting a year-on-year growth of 25.18%[22]. - The company achieved operating revenue of 5.187 billion yuan, a year-on-year increase of 12.38%[22]. - The total comprehensive income for the first half of 2022 was ¥502,888,701.02, compared to ¥371,362,181.28 in the same period of 2021, reflecting an increase of 35.36%[82]. Assets and Liabilities - The total assets at the end of the reporting period were ¥26,472,511,115.89, a slight increase of 0.80% from ¥26,262,648,705.02 at the end of the previous year[15]. - The total liabilities decreased by 1.23% to approximately ¥14.43 billion, down from ¥14.61 billion in the previous year[27]. - The company's equity attributable to shareholders increased by 3.33% to approximately ¥11.61 billion, compared to ¥11.24 billion in the previous year[27]. - Accounts receivable increased by 40.36% to approximately ¥6.49 billion, compared to ¥4.63 billion at the end of the previous year[26]. - The total amount of prepayments at the end of the period was RMB 342,682,188.21, with 91.40% of this amount being within one year[192]. Cash Flow - The company reported a net cash flow from operating activities of -¥1,375,361,747.95, indicating a significant change from ¥346,515,586.47 in the previous year[15]. - The company's cash and cash equivalents decreased by 47.02% to approximately ¥394.03 million, down from ¥754.03 million at the beginning of the year[27]. - The cash flow from financing activities resulted in a net outflow of -¥240,575,798.67, primarily due to dividend payments and interest expenses[89]. - The company’s cash inflow from operating activities was primarily driven by an increase in cash received from sales and services, totaling ¥22,064,917.22 for the first half of 2022[88]. Research and Development - Research and development expenses rose by 9.17% to approximately ¥383.43 million, compared to ¥351.22 million in the previous year[24]. - The company emphasizes innovation and has developed multiple new projects that have achieved international advanced levels[20]. - The company has established a comprehensive R&D and manufacturing system across various levels of aviation electronics, enhancing its competitive edge[20]. Market Position and Strategy - The company is positioned as a major supplier in the aviation electronics sector, focusing on defense, civil aviation, and advanced manufacturing[19]. - The company is actively expanding its market presence and improving resource allocation efficiency through the establishment of independent subsidiaries[21]. - The company is committed to high-quality development and has implemented strategies to optimize product structure and enhance operational efficiency[22]. Environmental and Social Responsibility - The company has established a comprehensive environmental management system, achieving zero environmental pollution incidents and ensuring compliance with emission standards for waste and hazardous materials[39]. - The company actively promotes clean production and has established a clean production audit organization to analyze technical, environmental, and economic feasibility[46]. - During the reporting period, the company invested 3.222 million yuan in consumption poverty alleviation efforts, while cultural poverty alleviation efforts amounted to 184,400 yuan, including the training of 223 talents[47]. Corporate Governance - The company has committed to maintaining independence in operations and avoiding conflicts of interest with its controlling shareholders[49]. - The company has not faced any non-operating fund occupation issues from controlling shareholders or related parties during the reporting period[54]. - The company confirmed that there were no significant litigation or arbitration matters during the reporting period[53]. Accounting and Financial Reporting - The financial statements are prepared based on the assumption of going concern, with no significant doubts about the company's ability to continue operations[105]. - The company adheres to the enterprise accounting standards, ensuring that the financial statements reflect a true and complete picture of its financial status[106]. - The company has not reported any significant changes in accounting policies or estimates during the period[106]. Risks and Challenges - The company faces risks including intensified market competition, operational risks due to long supply chains, supply chain risks from external factors, and technology innovation risks related to R&D[33][34]. - The company has established a quality management system to ensure effective operation, but faces challenges in quality control due to the complexity and variety of aviation electronic products[34].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 2,345,868,349.60, representing a year-on-year increase of 19.60%[4] - The net profit attributable to shareholders for Q1 2022 was CNY 201,292,984.44, reflecting a significant increase of 44.37% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 151,311,859.78, up by 27.87% year-on-year[4] - The basic and diluted earnings per share for Q1 2022 were both CNY 0.1044, an increase of 44.40% compared to the previous year[5] - The company reported a total comprehensive income of CNY 193,587,706.47 for Q1 2022, compared to CNY 121,017,549.90 in Q1 2021, indicating a 60.0% increase[17] - Net profit for Q1 2022 was CNY 207,886,172.03, compared to CNY 145,250,840.36 in Q1 2021, representing a 43.2% increase[16] - The net profit attributable to the parent company for Q1 2022 was approximately ¥201.29 million, an increase from ¥139.43 million in Q1 2021, representing a growth of 44.4%[38] - The total comprehensive income attributable to the parent company for Q1 2022 was approximately ¥188.67 million, compared to ¥118.03 million in Q1 2021, reflecting a year-over-year increase of 59.7%[38] Cash Flow - The net cash flow from operating activities was negative at CNY -1,178,634,543.99, indicating a significant cash outflow[4] - Cash flow from operating activities in Q1 2022 was CNY 856,547,274.83, a significant decrease from CNY 1,664,703,195.57 in Q1 2021[18] - The net cash outflow from operating activities for Q1 2022 was approximately -¥1.18 billion, compared to -¥124.49 million in Q1 2021, indicating a significant decline in cash flow[41] - The cash inflow from financing activities in Q1 2022 totaled CNY 974,512,196.50, while cash outflow was CNY 993,298,734.33[21] - The cash inflow from financing activities for Q1 2022 was approximately ¥974.51 million, compared to ¥907.93 million in Q1 2021, an increase of 7.3%[42] - The company reported a decrease in cash received from sales of goods and services, totaling approximately ¥856.55 million in Q1 2022, down from ¥1.66 billion in Q1 2021, a decline of 48.6%[39] Assets and Liabilities - Total assets at the end of the reporting period were CNY 25,835,581,861.19, a decrease of 1.63% from the end of the previous year[5] - The total liabilities as of Q1 2022 amounted to CNY 13,935,868,378.36, down from CNY 14,610,617,855.42 in the previous year[16] - Current assets totaled ¥19,086,362,429.26, slightly down from ¥19,412,423,772.29, indicating a decrease of about 1.68%[12] - Cash and cash equivalents decreased to ¥2,614,077,819.06 from ¥3,940,252,497.35, representing a significant decline of approximately 33.6%[12] - The equity attributable to shareholders increased by 2.16% to CNY 11,479,367,972.77 compared to the end of the previous year[5] - The company's equity attributable to shareholders increased to ¥11,479,367,972.77 in Q1 2022 from ¥11,236,846,294.54 in Q1 2021, marking a rise of 2.2%[35] Research and Development - Research and development expenses increased by 46.6%, primarily due to higher product development costs[8] - Research and development expenses for Q1 2022 were CNY 169,629,773.71, up from CNY 115,731,056.58 in Q1 2021, reflecting a 46.5% increase[16] - Research and development expenses rose by 46.6%, reflecting increased investment in product development[29] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 52,898[30] - The largest shareholder, China Aviation Technology Industry Co., Ltd., holds 39.43% of the shares[31] Non-Operating Income - The company reported a 93.2% increase in non-operating income, mainly from the disposal of non-current assets[8] - The company reported a government subsidy of CNY 2,030,800.00 included in non-operating income for Q1 2022[27] - The company reported a total non-recurring profit of approximately ¥49.98 million for the first quarter of 2022[28] - Investment income surged by 2,116.6%, attributed to debt restructuring by subsidiaries, resulting in an increase of ¥16.77 million[29]

Financial Performance - The company's operating revenue for 2021 was CNY 9,839,298,853.60, representing a 12.5% increase compared to CNY 8,746,614,181.92 in 2020[14] - The net profit attributable to shareholders of the listed company was CNY 798,697,071.26, an increase of 26.6% from CNY 630,777,488.79 in the previous year[14] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 687,342,615.85, up 25.5% from CNY 547,812,147.43 in 2020[14] - The net cash flow from operating activities reached CNY 1,549,833,363.72, a significant increase of 91.4% compared to CNY 809,572,495.70 in 2020[14] - The company achieved a revenue of 9.84 billion RMB in 2021, representing a year-on-year increase of 12.5%[27] - Net profit for the year was 818 million RMB, up 24.8% compared to the previous year[27] - The total operating revenue for 2021 was CNY 9,839,298,853.60, an increase of 12.5% compared to CNY 8,746,614,181.92 in 2020[164] - The net profit for 2021 reached CNY 817,722,463.05, up from CNY 655,339,400.49 in 2020, representing a growth of 24.8%[164] Cash Flow and Investments - The net cash flow from operating activities in Q4 was ¥1,052,197,512.67, indicating strong cash generation capabilities[17] - The net cash flow from investing activities was CNY -840 million, a decrease of CNY 220 million compared to CNY -620 million in the same period last year[42] - The net cash flow from financing activities was CNY -720 million, an increase of CNY 1.13 billion compared to CNY 410 million in the same period last year[42] - The company reported a net cash outflow from investing activities of CNY -839,775,773.68 in 2021, compared to CNY -615,382,131.73 in 2020, indicating an increase in investment activities[169] - The total cash inflow from financing activities in 2021 was CNY 3,838,180,495.61, down from CNY 6,878,265,035.92 in 2020, reflecting a decrease of about 44.5%[169] Research and Development - Research and development expenses rose to 827 million RMB, an increase of 27.8% year-on-year, reflecting a commitment to innovation[28] - The company invested ¥827,134,387.49 in R&D, accounting for 8.41% of total revenue[40] - The number of R&D personnel is 3,177, making up 25% of the total workforce[41] - The company is actively pursuing new product development and technological breakthroughs in the aviation electronics field, with several key technologies achieving significant advancements[24] - Research and development expenses increased to CNY 827,134,387.49 in 2021, compared to CNY 647,417,717.73 in 2020, reflecting a rise of 27.8%[164] Shareholder Returns - The company plans to distribute a cash dividend of CNY 1.25 per share (before tax), totaling CNY 239,724,854.38, which accounts for 30.01% of the net profit attributable to shareholders[2] - The company distributed cash dividends of 0.10 yuan per share, totaling 191,779,883.50 yuan (including tax), based on a total share count of 1,917,798,835 shares after buybacks[94] - The company reported a total comprehensive income of 798,697,071.26 RMB for the year, compared to 786,421,047.21 RMB in the previous year, indicating a slight growth in profitability[172] Assets and Liabilities - Total assets rose to ¥26,262,648,705.02, reflecting a 6.2% increase from ¥24,719,896,668.46 in 2020[15] - The total liabilities amounted to CNY 14.61 billion, an increase of 6.7% from CNY 13.69 billion[46] - The company's total assets at the end of 2021 were CNY 7,418,045,294.51, compared to CNY 7,285,091,725.33 in 2020, indicating a growth of 1.8%[164] - The total liabilities as of the end of 2021 amounted to CNY 32,541,396,36, which is an increase from CNY 21,970,971.74 in 2020[164] Compliance and Governance - The audit report issued by the accounting firm was a standard unqualified opinion[2] - The company has established a compliance management system to strengthen legal and regulatory adherence across its operations[25] - The company has not faced any penalties from securities regulatory agencies in the past three years, indicating compliance with regulations[83] - The company’s board of directors and supervisory board operated independently, ensuring no infringement on the rights of the company and other shareholders[71] Market and Strategic Initiatives - The company initiated the establishment of a civil aircraft R&D system and maintenance system, enhancing its strategic layout in the civil aviation sector[21] - Several subsidiaries became suppliers for the C919 project, capitalizing on opportunities in the national large aircraft initiative[21] - The company is focusing on expanding its market presence in the aviation electronics sector, leveraging its technological advantages and industry reputation[23] - The company plans to actively explore new markets in aerospace, weaponry, and naval sectors to promote cross-domain applications of avionics technology[59] Environmental and Social Responsibility - Environmental management systems are in place, with no reported violations of environmental protection laws during the reporting period[103] - The company has constructed pollution prevention facilities, including wastewater treatment systems and emission control equipment, which are operating in accordance with national regulations[104] - A total of 800,000 RMB was invested in projects to consolidate and expand poverty alleviation efforts, with 4.2856 million RMB spent on purchasing poverty alleviation products[111] Future Outlook - The company plans to achieve an annual revenue of 11.04 billion yuan in 2022, representing a year-on-year growth of 12.2%, and a net profit of 881 million yuan, up 7.8%[61] - The company is focusing on high-end avionics equipment maintenance to fill domestic market gaps and is actively promoting maintenance business cooperation and capability building[60] - The company plans to enhance its core competitiveness and resource allocation efficiency through the establishment of independent operational divisions[26]

Financial Performance - The company's operating revenue for Q3 2021 was ¥2,321,151,867.68, representing a year-on-year increase of 3.80%[4] - The net profit attributable to shareholders for Q3 2021 was ¥190,247,712.13, reflecting a year-on-year growth of 26.21%[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥174,154,011.37, with a year-on-year increase of 29.58%[4] - Total operating revenue for the first three quarters of 2021 reached ¥6,936,901,675.87, an increase of 19.3% compared to ¥5,813,445,772.73 in the same period of 2020[18] - Net profit for the third quarter was ¥595,084,309.40, compared to ¥432,052,822.36 in the previous year, reflecting a growth of 37.8%[20] - The total comprehensive income for Q3 2021 was ¥573,040,345.06, compared to ¥431,842,986.48 in Q3 2020[21] - Basic and diluted earnings per share for Q3 2021 were both ¥0.2983, up from ¥0.2151 in the same quarter last year[21] Assets and Liabilities - The total assets at the end of Q3 2021 amounted to ¥25,740,287,104.87, which is a 4.13% increase compared to the end of the previous year[5] - The company's total liabilities as of the end of the third quarter of 2021 amounted to ¥14,318,696,976.79, an increase from ¥13,691,585,240.59 at the end of the previous year[45] - Non-current liabilities totaled ¥2,673,815,522.22, compared to ¥2,576,766,380.19 in the previous year, indicating a rise of 3.8%[17] - The total equity attributable to shareholders increased to ¥11,002,799,150.93 from ¥10,626,330,583.81, reflecting a growth of 3.5%[17] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥497,635,851.05[4] - The company reported a net cash flow from operating activities of ¥1,041,996,236.45, indicating an improvement in cash collection[10] - Cash inflows from operating activities totaled ¥7,370,634,528.40 for the year-to-date, compared to ¥4,948,516,396.94 in the previous year[23] - Cash outflows from operating activities were ¥6,872,998,677.35, resulting in a net cash flow from operating activities of ¥497,635,851.05[23] - The company reported a net cash outflow from financing activities of ¥802,030,488.08 for the year-to-date, compared to a net inflow of ¥578,847,019.27 in the previous year[24] Shareholder Information - The total number of common shareholders at the end of the reporting period is 72,861[11] - The largest shareholder, China Aviation Technology Industry Company, holds 758,778,699 shares, accounting for 39.35% of total shares[11] - The top ten shareholders include several state-owned enterprises, indicating a strong government influence in the company's ownership structure[12] Research and Development - Research and development expenses for the third quarter were ¥555,348,637.87, an increase from ¥441,226,249.31 in the same period last year, showing a growth of 25.9%[20] Inventory and Receivables - Accounts receivable increased to ¥8,367,756,853.65 from ¥7,504,301,282.38 year-over-year[15] - Inventory as of September 30, 2021, is ¥5,729,413,365.87, up from ¥4,746,822,781.90 at the end of 2020[15] Capital and Funding - The company plans to permanently supplement working capital with surplus raised funds of ¥75,104,300 as of September 30, 2021[13] - The company has completed all projects funded by the public issuance of convertible bonds during the reporting period[13] Audit and Compliance - The company has not reported any changes in the audit opinion type for the third quarter of 2021[14]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥4,615,749,808.19, representing a 29.03% increase compared to ¥3,577,200,120.48 in the same period last year[15]. - Net profit attributable to shareholders was ¥384,898,026.33, a 45.74% increase from ¥264,091,522.96 in the previous year[15]. - The net profit after deducting non-recurring gains and losses was ¥339,484,414.21, up 46.14% from ¥232,302,983.16 year-on-year[15]. - The basic earnings per share for the first half of 2021 was ¥0.2007, an increase of 33.71% compared to ¥0.1501 in the same period last year[16]. - The total profit reached 454 million yuan, reflecting a year-on-year growth of 44.57%[23]. - The company achieved operating revenue of 4.616 billion yuan, a year-on-year increase of 29.03%[23]. - Net profit for the first half of 2021 was ¥397,458,117.18, compared to ¥274,982,422.92 in the first half of 2020, representing a growth of 44.7%[82]. Assets and Liabilities - The total assets at the end of the reporting period were ¥25,002,947,358.26, a slight increase of 1.15% from ¥24,719,896,668.46 at the end of the previous year[15]. - Total liabilities amounted to ¥13,788,280,680.29, which is 55.15% of total assets, showing a minor increase from 55.39%[28]. - The company’s total equity increased to ¥11,214,666,677.97, representing a growth of 1.69% from ¥11,028,311,427.87[28]. - The ending balance of notes receivable is 1.07 billion yuan, a decrease of 480 million yuan, or 30.9%, mainly due to the maturity of notes[29]. - The ending balance of other receivables is 116 million yuan, an increase of 41.7 million yuan, or 56.5%, mainly due to the increase in management fees receivable[29]. - The total amount of bank acceptance bills decreased from ¥202,228,025.54 at the beginning of the period to ¥67,755,897.24 at the end, representing a decline of about 66.5%[170]. Cash Flow - The net cash flow from operating activities was ¥346,515,586.47, a significant recovery from a negative cash flow of ¥864,823,696.77 in the same period last year[15]. - The cash and cash equivalents decreased by 22.22% to ¥3,069,954,685.97 from ¥3,946,787,821.80[27]. - The total cash inflow from operating activities was CNY 4,971,366,669.85, up from CNY 2,092,266,119.90 in the first half of 2020[87]. - The company reported a significant reduction in financial expenses, with a net financial cost of -CNY 11,091,196.97 compared to CNY 45,699,256.49 in the first half of 2020[84]. Research and Development - Research and development expenses increased due to the expansion of R&D projects[24]. - Research and development expenses for the first half of 2021 amounted to ¥351,223,706.13, compared to ¥240,950,846.42 in the first half of 2020, indicating a 45.9% increase[80]. - The company has established multiple key experimental platforms to enhance its R&D capabilities[21]. Market and Expansion - The increase in operating income is attributed to a rise in orders and product deliveries[24]. - The company is actively expanding into non-aerospace defense and high-end manufacturing sectors, enhancing its product offerings[20]. - The company is focused on achieving autonomous control of aerospace electronic products and optimizing product structure[23]. Environmental and Social Responsibility - The company has established pollution prevention facilities, including waste gas treatment measures and wastewater treatment stations, which are operating effectively[38]. - In the first half of 2021, Taihang Instrument invested CNY 152.3 million in poverty alleviation efforts, helping 337 registered impoverished individuals escape poverty[47]. - The company has not reported any violations of environmental protection laws and regulations during the reporting period[37]. Related Party Transactions - The company reported a total deposit balance of RMB 2,186,219,439.06 with a related party, indicating an increase of RMB 103,136,888.39 during the reporting period[58]. - The company had a loan balance of RMB 2,349,240,000.00 from a related party, which decreased by RMB 327,070,385.22 during the reporting period[59]. - The company aims to reduce and standardize related party transactions to ensure fairness and transparency[55]. Compliance and Governance - There were no significant lawsuits or arbitration matters reported during the reporting period[53]. - The company and its controlling shareholders did not have any major non-compliance issues or penalties during the reporting period[54]. - The company has not engaged in any significant asset acquisitions or disposals during the reporting period[56]. Accounting Policies - The company adheres to accounting standards, ensuring that financial statements accurately reflect its financial position and performance[105]. - The company recognizes financial assets and liabilities based on their classification and measurement methods, including amortized cost and fair value[112]. - The group recognizes revenue primarily from sales of goods, service provision, interest income, and rental income, following a five-step process for revenue recognition[150].

Financial Performance - The company's operating revenue for 2020 was CNY 8,746,614,181.92, representing a 4.72% increase compared to CNY 8,352,187,741.64 in 2019[16]. - The net profit attributable to shareholders of the listed company was CNY 630,777,488.79, an increase of 13.45% from CNY 556,020,333.42 in the previous year[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 547,812,147.43, showing a significant increase of 139.31% compared to CNY 228,915,983.75 in 2019[16]. - The net cash flow from operating activities was CNY 809,572,495.70, which is a 10.05% increase from CNY 735,640,968.39 in 2019[16]. - The total assets of the company at the end of 2020 were CNY 24,719,896,668.46, an 8.91% increase from CNY 22,696,700,721.78 in 2019[16]. - Basic earnings per share increased by 10.79% to CNY 0.3501 in 2020 compared to CNY 0.3160 in 2019[17]. - The weighted average return on equity rose by 0.66 percentage points to 7.77% in 2020 from 7.11% in 2019[17]. - The total profit reached 719 million RMB, reflecting a year-on-year growth of 14.00%[27]. - The company’s R&D expenses increased by 11.61% to 647 million RMB, indicating a focus on innovation[28]. - The company reported a significant increase in retained earnings, reaching ¥4.26 billion in 2020, compared to ¥3.76 billion in 2019, reflecting a growth of approximately 13.3%[165]. Cash Flow and Dividends - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares, totaling CNY 191,779,883.50, which accounts for 30.40% of the net profit attributable to shareholders[4]. - The company distributed a cash dividend of RMB 0.06 per share, totaling RMB 105,855,222.24, based on a total share count of 1,764,253,704 shares after buybacks[52]. - In 2020, the cash dividend amounted to RMB 191,779,883.50, representing 30.40% of the net profit attributable to ordinary shareholders[53]. - The cash dividend for 2019 was RMB 104,946,448.44, which accounted for 18.87% of the net profit attributable to ordinary shareholders[53]. - The net cash flow from financing activities was RMB 409,053,385.40, down from RMB 774,898,538.12 in the previous year, indicating a decrease of about 47%[175]. Assets and Liabilities - As of the end of 2020, the net assets attributable to shareholders of the listed company were CNY 10,626,330,583.81, reflecting a 35.53% increase from CNY 7,840,415,802.31 at the end of 2019[16]. - The total amount of accounts receivable was ¥7,504,301,282.38, which is 30.36% of total assets, reflecting a 9.48% increase from the previous period[36]. - The total liabilities decreased to ¥13.69 billion in 2020 from ¥14.47 billion in 2019, a reduction of about 5.4%[165]. - Shareholders' equity increased to ¥11.03 billion in 2020, up from ¥8.22 billion in 2019, representing a growth of approximately 34.8%[165]. - The company's current ratio improved to 1.66 in 2020 from 1.50 in 2019, reflecting a 10.67% increase[150]. Research and Development - The company is focused on expanding its aerospace electronic systems and has been actively developing solutions for various sectors including aerospace, defense, and high-end manufacturing[23]. - The company has established multiple key experimental platforms to enhance its R&D capabilities, achieving international verification standards in key technology areas[26]. - The company aims to enhance its core competitiveness in the aviation electronics market through continuous investment in technology and innovation[46]. - The company is investing 500 million yuan in new technology research, focusing on artificial intelligence applications in aviation systems[117]. Market and Strategic Outlook - The company plans to achieve a revenue of 9.522 billion yuan in 2021, representing a year-on-year growth of 8.9%[49]. - The military aviation sector is expected to see significant demand for new generation aviation equipment, providing substantial market space for the company[45]. - The civil aviation industry has been elevated to a national strategic priority, with policies supporting the development of the civil aircraft sector[45]. - The company aims to improve operational efficiency by 20% through the implementation of lean manufacturing practices[117]. Governance and Compliance - The company has established a clear internal control system in accordance with the Company Law and Securities Law, ensuring compliance and improving corporate governance structure[130]. - The board of directors consists of 11 members, including 4 independent directors, ensuring compliance with relevant requirements[130]. - The company has not faced any risks of suspension from listing during the reporting period[60]. - The company has not reported any significant accounting policy changes or errors during the reporting period[58]. Environmental and Social Responsibility - The company invested a total of RMB 3,767,900 in poverty alleviation efforts, helping 1,283 registered impoverished individuals to escape poverty[73]. - The company constructed a chromium ion zero discharge system, which was accepted and put into operation in December 2020, and has been running normally since then[79]. - The company actively conducts self-monitoring of pollutants, including total chromium, total nickel, and ammonia nitrogen, through qualified environmental monitoring agencies[82]. - The company plans to strengthen support for poverty alleviation areas in 2021, focusing on integrating poverty alleviation with rural revitalization[76].