Financial Performance - Total operating income for the first half of 2020 was CNY 8,649,225,674.58, a 1.23% increase compared to CNY 8,544,456,896.42 in the same period last year[14]. - Net profit attributable to shareholders of the listed company reached CNY 1,508,359,827.01, reflecting a 2.47% increase from CNY 1,471,954,953.84 year-on-year[14]. - Basic earnings per share for the first half of 2020 was CNY 0.17, a 6.25% increase from CNY 0.16 in the same period last year[15]. - The total profit for the first half of 2020 was 3.362 billion RMB, reflecting a year-on-year growth of 4.98% from 3.202 billion RMB[26]. - Interest income for the first half of 2020 was CNY 1,590,042,988.86, representing a 4.47% increase from CNY 1,521,973,034.80 year-on-year[14]. - The company reported a net cash flow from operating activities of -CNY 31,996,723,979.60, an improvement from -CNY 36,160,768,378.70 in the previous year[14]. - The total assets of the company decreased by 2.62% to CNY 332,665,793,948.62 from CNY 341,615,285,875.54 at the end of the previous year[14]. - The weighted average return on net assets decreased to 4.92%, down 0.31 percentage points from 5.23% year-on-year[15]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 1.05 per 10 shares, totaling CNY 927,222,661.26, based on a total share base of 8,830,692,012 shares[4]. - The company plans to distribute cash dividends of RMB 1.05 per 10 shares, totaling RMB 927.22 million, with no stock dividends planned for the mid-year distribution[47]. Business Operations - The company operates in multiple sectors including leasing, trust, securities, finance, futures, and industrial investment, with no changes in its business scope during the reporting period[18]. - The company has established a strong competitive advantage through its comprehensive financial services, leveraging subsidiaries like AVIC Trust and AVIC Leasing[25]. - AVIC Capital aims to enhance its capital channel advantages and financing capabilities by utilizing various financing tools, including bank loans and corporate bonds[25]. - The company focuses on deepening the integration of finance and industry, providing comprehensive financial services to the aviation industry and external clients[25]. - AVIC Capital's investment strategy is supported by its strong industrial background and leading research capabilities, particularly in the aerospace sector[25]. - The company has been actively optimizing its industrial investment business since 2019, enhancing management and operational efficiency[23]. - The company is recognized as the first financial holding company listed in China, leading in the exploration of overall synergy among financial subsidiaries[25]. Risk Management - The company faces various risks, including credit risk, liquidity risk, and market competition risks in its financial and leasing businesses[43]. - The trust industry is experiencing a slowdown in growth, which may adversely affect the company's trust operations[44]. - The leasing industry is becoming increasingly competitive, particularly from bank-affiliated financial leasing companies[44]. - The company emphasizes the importance of risk control and management in its financial equity investment operations to minimize potential losses[44]. - The company has committed to resolving related party transactions and other issues as part of its corporate governance[49]. Legal Matters - The company has not reported any significant litigation or arbitration matters during the reporting period[52]. - 中航租赁与山西沁源康伟森达源煤业有限公司的租赁合同纠纷涉及金额为203,810,175.01元，案件仍在审理中[53]. - 中航租赁与东北特钢集团大连高合金棒线材有限责任公司的租赁合同纠纷涉及金额为145,592,905.76元，案件仍在审理中[53]. - 中航租赁与临沂众泰汽车零部件制造有限公司的租赁合同纠纷涉及金额为102,187,517.47元，案件已结案，维持原判[53]. - 中航证券面临的理财合同纠纷涉及金额为19,474,000.00元，案件已结案，已计提相应的减值准备[53]. - 中航租赁已对上述诉讼案件计提相应的减值准备，以应对可能的利润影响[53]. Corporate Governance - The company commits to maintaining independence from its controlling shareholder, Aviation Industry, in terms of business, assets, personnel, finance, and institutions[50]. - The company ensures that there are no direct or indirect competitive activities with its controlling shareholder or its subsidiaries[50]. - The company will adhere to market principles and fair pricing in related party transactions, ensuring no improper benefits are obtained through its controlling shareholder status[50]. Social Responsibility - The company has helped 428 registered impoverished individuals to escape poverty through various initiatives[72]. - The company invested 259.37 million in financial support for poverty alleviation efforts[72]. - The company has successfully reclaimed over 100 acres of abandoned farmland for ecological rice planting, expected to generate an income of 360,000 for the local community[69]. - The company has established two industrial poverty alleviation projects with an investment of 72.8 million[73]. - The company donated 1.4 million for infrastructure improvements in impoverished areas, including road and water supply enhancements[75]. - The company has implemented a new model of "industry + finance" for poverty alleviation, focusing on market-driven mechanisms[68]. - The company has supported 8 impoverished students with a total funding of 36.73 million for educational resources[74]. - The company has developed a brand for local agricultural products through e-commerce platforms, enhancing market access for farmers[70]. - The company has received the "Jiangxi Province Financial Precision Poverty Alleviation Contribution Award" for its efforts in poverty alleviation[74]. - The company donated 5,000 medical masks and disinfectants to support health protection in poverty-stricken villages during the COVID-19 pandemic[77]. - The company signed a repurchase agreement worth RMB 360,000 for 100 acres of ecological rice with a cooperative in a targeted poverty alleviation village[78]. - The company plans to continue its targeted poverty alleviation efforts in 2020, focusing on communication with local governments and enhancing existing projects[79]. - The company will leverage capital market features to provide comprehensive financial services for economic development in impoverished areas[79]. Bond Issuance and Management - The company has issued a total of 20.00 million for the first phase of its 2019 corporate bonds with a coupon rate of 3.98%[97]. - The second phase of the 2019 corporate bonds has a total issuance of 30.00 million and a coupon rate of 3.84%[97]. - The total balance of the third phase of the 2019 corporate bonds is 12.00 million with a coupon rate of 3.72%[97]. - The fourth phase of the 2019 corporate bonds has a total issuance of 16.00 million and a coupon rate of 3.58%[97]. - The first phase of the 2020 corporate bonds has a total balance of 7.00 million with a coupon rate of 3.10%[97]. - The second phase of the 2020 corporate bonds has a total issuance of 5.00 million and a coupon rate of 3.51%[97]. - The company issued a total of 8 bonds in 2020, with interest rates ranging from 3.00% to 4.14%[100]. - The total amount of funds raised from the bond issuance is 20 billion RMB, which has been fully utilized for debt repayment as per the prospectus[105]. - The total amount of funds raised from another bond issuance is 30 billion RMB, with all funds allocated to the special account for use[105]. - The total amount of funds raised from a different bond issuance is 12 billion RMB, which has also been fully utilized for debt repayment[109]. - The total amount of funds raised from another bond issuance is 16 billion RMB, with all funds used according to the prospectus[110]. - The total amount of funds raised from yet another bond issuance is 10 billion RMB, fully utilized for debt repayment[111]. - The total amount of funds raised from the bond issuance was 10 billion RMB, which has been fully utilized for debt repayment as per the prospectus[116]. - The total amount of funds raised from the bond issuance was 5 billion RMB, which has also been fully utilized for debt repayment[116]. - The total amount of funds raised from the bond issuance was 10 billion RMB, fully utilized for debt repayment[118]. - The total amount of funds raised from the bond issuance was 15 billion RMB, fully utilized for debt repayment[118]. - The total amount of funds raised from the bond issuance was 6.2 billion RMB, fully utilized for debt repayment[118]. - The total amount of funds raised from the bond issuance was 10 billion RMB, fully utilized for debt repayment[119]. - The total amount of funds raised from the bond issuance was 8.45 billion RMB, fully utilized for debt repayment[119]. - The total amount of funds raised from the bond issuance was 13.3 billion RMB, fully utilized for debt repayment[119]. - The total amount of funds raised from bond issuance amounted to 4.5 billion RMB, 6 billion RMB, and 10 billion RMB, all of which were used to repay company debts[120][121][123]. - The total amount of funds raised from the bond issuance in the first half of 2020 was 15 billion RMB, with all funds utilized for debt repayment[121]. - The company has consistently adhered to the planned use of raised funds, with no changes in usage or procedures reported[120][121][123][124]. - The remaining balance of raised funds at the end of the reporting period was 0.00 RMB across all bond issuances[120][121][123][126]. - The company has implemented internal control procedures for the approval of fund usage, ensuring compliance with regulations[120][121][123][126]. Credit Rating - The company has maintained an AAA credit rating for its bonds, indicating strong debt repayment capability and low default risk[138]. - The rating outlook remains stable, reflecting the company's resilience to adverse economic conditions[138]. - The issuer's credit rating is AAA, indicating a strong ability to repay debts with very low default risk[140]. - The bond rating is also AAA, reflecting extremely high credit quality and low credit risk[143]. - The rating outlook is stable, suggesting that the credit rating is unlikely to change in the near future[145]. - The last rating results have remained unchanged, indicating consistent financial stability[142]. - The rating agency involved is China Chengxin International Credit Rating Co., Ltd., which issued the reports on June 19, 2020, and June 24, 2020[144]. - The bonds are categorized under various codes, including 155459, 155692, and 163164, among others, all rated AAA[148]. - The issuer's ability to withstand adverse economic conditions is emphasized, reinforcing the low default risk associated with the bonds[149]. - The reports cover multiple bond issues, all maintaining the AAA rating and stable outlook, indicating a robust financial position across the board[150]. - The issuer's strong credit rating reflects its resilience against unfavorable economic environments, ensuring investor confidence[151]. Transparency and Compliance - The company has established long-term communication mechanisms with bond trustees to enhance risk monitoring and information disclosure[173]. - The company has disclosed regular and interim trustee management reports as required[176]. - The bond trustee has been responsible for supervising the use of raised funds and ensuring compliance with information disclosure obligations[179]. - The company has committed to strict information disclosure practices to protect the rights of bondholders[174]. - The company has fulfilled its information disclosure obligations during the bond's duration[182]. - The trustee management reports are available on the Shanghai Stock Exchange website[183]. - The company has maintained a consistent approach to monitoring and reporting, ensuring transparency and accountability in its financial practices[185].

二、 公司基本情况 2019 年第一季度报告 公司代码：600705 公司简称：中航资本 中航资本控股股份有限公司 2019 年第一季度报告 1 / 24 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 7 | 2019 年第一季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | --- | --- | --- | --- | | | | | 减(%) | | 总资产 | 315,536,972,334.34 | 300,302,931,118.35 | 5.07 | | 归属于上市公司 | 28,901,950,313.73 | 27,709,476,758.94 | 4.30 | | 股东的净资产 | | | | | ...

Financial Performance - The company's operating revenue for 2018 was CNY 7,448,683,746.80, representing a 30.52% increase compared to CNY 5,707,025,888.46 in 2017[14]. - Net profit attributable to shareholders for 2018 was CNY 3,165,964,775.50, a 13.74% increase from CNY 2,783,606,158.67 in 2017[14]. - The net profit after deducting non-recurring gains and losses was CNY 2,802,869,151.41, up 10.78% from CNY 2,530,195,443.18 in 2017[14]. - The company's total assets increased by 28.09% to CNY 300,302,931,118.35 at the end of 2018, compared to CNY 234,446,225,563.12 at the end of 2017[14]. - Basic earnings per share for 2018 was CNY 0.35, a 12.90% increase from CNY 0.31 in 2017[15]. - The weighted average return on equity for 2018 was 12.90%, an increase of 0.57 percentage points from 12.33% in 2017[15]. - The company achieved total operating revenue of 13.87 billion RMB in 2018, an increase of 26.63% compared to 2017[25]. - Net profit attributable to the parent company was 3.17 billion RMB, reflecting a growth of 13.74% year-over-year[25]. Dividends and Profit Distribution - The company plans to distribute dividends from its subsidiaries to the parent company in the first half of 2019, with a proposed dividend amount not less than 10% of the net profit attributable to shareholders for 2018[4]. - The company did not distribute cash dividends for 2018, planning to review the dividend proposal in mid-2019, with an amount not less than 10% of the net profit attributable to shareholders for 2018[84]. - The cash dividend amount for 2018 was RMB 350,076,704.87, with no stock dividends or capital increases proposed[84]. - The company plans to distribute profits from 2018 to the parent company after the subsidiaries' profit allocation in the first half of 2019[84]. Risk Management - The company has detailed the risks it faces in the annual report, urging investors to pay attention to these risks[5]. - The company emphasizes the importance of capital channel advantages and financing capabilities to support sustainable development[23]. - The company is focused on enhancing risk management and compliance, ensuring no major risk events occurred during the year[25]. - The company has established a comprehensive risk management system with a three-line defense mechanism to ensure no major risks occur[47]. - The company has implemented a full audit coverage strategy to enhance its risk management framework[79]. - The company acknowledges potential financial risks due to limited financing channels and market volatility affecting its operations[81]. - The company has committed to comprehensive risk management, focusing on liquidity risk and internal control measures[79]. Corporate Governance - The company has committed to maintaining independence in operations, assets, personnel, finance, and institutions from its controlling shareholder, ensuring no conflicts of interest arise[89]. - The company has established a remuneration and assessment committee responsible for evaluating the performance and compensation of directors and senior management, ensuring alignment with overall company performance and market conditions[157]. - The company has strengthened employee management and compliance training to mitigate operational risks[39]. - The governance structure has been continuously improved in accordance with relevant laws and regulations, ensuring compliance and operational efficiency[150]. Legal Matters - The company is currently involved in a legal dispute regarding a rental contract with Zhangjiagang Tian Shili Packaging Products Co., Ltd., with a claim amount of approximately 27.32 million RMB[95]. - The company has faced a court ruling in favor of its leasing subsidiary, but the case is still under appeal, which may impact the company's profits[95]. - The company has taken legal action to recover funds frozen by the court, amounting to 30 million RMB, with a partial recovery of approximately 24.92 million RMB[95]. - There are no significant litigation or arbitration matters reported for the year[94]. Strategic Initiatives - The company aims to enhance its core competitiveness by implementing a "Financial+" strategy, focusing on financial services, talent, innovation, and capabilities[23]. - The company plans to enhance resource collaboration and leverage its comprehensive financial advantages to support real economy sectors[79]. - The company has established a military-civilian integration research center to strengthen its investment capabilities in this area[79]. - The company aims to provide comprehensive financial services to support economic development in impoverished areas[110]. Subsidiaries and Business Operations - The company operates through subsidiaries including AVIC Leasing, AVIC Trust, AVIC Securities, AVIC Finance, AVIC Futures, and others, focusing on various financial services such as leasing, trust, securities, finance, futures, and industrial investment[21]. - AVIC Trust covers a wide range of investment areas including green energy, high-end manufacturing, and infrastructure, providing comprehensive wealth management services[21]. - AVIC Leasing is recognized as the only central enterprise-backed leasing company in China, emphasizing its unique position in the market[21]. - The company has established a leading industrial research investment capability, focusing on strategic sectors such as state-owned enterprise reform and military-civilian integration[23]. Financial Instruments and Debt Management - The company has issued bonds with a total balance of 35 billion RMB, with interest rates ranging from 4.25% to 5.5%[159]. - The company has maintained a stable AAA rating for its bonds, indicating a very strong ability to repay debts and low default risk[167]. - The issuer has established a comprehensive guarantee system for bond repayment, including a dedicated repayment working group and special accounts for raised funds[175]. - The company reported a significant increase in long-term receivables by 54.86% to CNY 83.80 billion, attributed to the expansion of leasing business[53]. Employee and Management - The total number of employees in the parent company was 61, while the number of employees in major subsidiaries was 4,556, totaling 4,617 employees[146]. - The company has implemented a performance-oriented compensation policy for mid-to-senior management, linking pay to performance[147]. - The total pre-tax remuneration for directors and senior management during the reporting period amounted to 610.12 million yuan[137]. Community Engagement and Social Responsibility - The company is actively implementing a targeted poverty alleviation plan in line with national strategies[110]. - In 2018, the company invested a total of 2.32 million RMB in poverty alleviation efforts, helping 413 registered impoverished individuals to escape poverty[114]. - The company received the "Outstanding Contribution Award" from the China Poverty Alleviation Foundation for its efforts in poverty alleviation in 2018[116]. - The company aims to continue innovating in the "industry + finance" poverty alleviation model to provide comprehensive financial services for economic development in impoverished areas[111].

2018 年第三季度报告 公司代码：600705 公司简称：中航资本 中航资本控股股份有限公司 2018 年第三季度报告 1 / 21 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 8 | 2018 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人录大恩、主管会计工作负责人刘光运及会计机构负责人（会计主管人员）李天舒 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | | 上年度末 | | 本报告期末比上年 | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | ...

2018 年半年度报告 公司代码：600705 公司简称：中航资本 1 / 186 2018 年半年度报告 重要提示 五、经董事会审议的报告期利润分配预案或公积金转增股本预案 根据2017年度股东大会审议通过的《2017年度利润分配方案》，公司拟于2018年实施中期分 红，公司2018年内两次分红总额占2017年度归母净利润比例拟不低于30%。公司2018年上半年未实 施中期利润分配，计划于2018年下半年实施中期利润分配。 六、前瞻性陈述的风险声明 √适用 □不适用 本半年度报告涉及未来计划等前瞻性陈述，该等陈述不构成公司对投资者的实质性承诺，请 投资者注意投资风险。 七、是否存在被控股股东及其关联方非经营性占用资金情况 否 中航资本控股股份有限公司 2018 年半年度报告 八、是否存在违反规定决策程序对外提供担保的情况？ 否 九、重大风险提示 公司已在本半年度报告中详细描述公司面临的风险，敬请投资者予以关注，详见本半年度报 告"经营情况讨论与分析"等有关章节中关于公司面临风险的描述。 十、其他 □适用 √不适用 2 / 186 一、本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准 ...

2018 年第一季度报告 公司代码：600705 公司简称：中航资本 中航资本控股股份有限公司 2018 年第一季度报告 1 / 18 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 7 | 2018 年第一季度报告 一、 重要提示 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | | | | | 减(%) | | | 总资产 | 227,648,262,048.07 | 234,446,225,563.12 | -2.90 | | | 归属于上市公司 | 24,114,165,264.12 | 23,263,436,363.61 | 3.66 | | | 股东的净资产 | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | | 经营活动产生的 | -22,678,526,718 ...