证券代码：600760 证券简称：中航沈飞 公告编号：2023-018 中航沈飞股份有限公司 一、说明会类型 本次业绩说明会以视频结合网络互动的方式召开，公司将针对 2022 年年度 经营成果及财务指标的具体情况与投资者进行互动交流和沟通，并在信息披露允 许的范围内对投资者普遍关注的问题予以解答。 二、说明会召开时间及召开方式 关于召开2022年年度业绩说明会的公告 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个别及连带责任。 重要内容提示： 1.会议召开时间：2023 年 4 月 20 日（星期四）下午 15:00-16:00 欢迎广大投资者在 2023 年 4 月 13 日（星期四）至 4 月 19 日（星期三） 16：00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过本公告提 供的联系方式提出所关注的问题，公司将在业绩说明会上选择投资者普遍关心的 问题进行回答。 中航沈飞股份有限公司（以下简称"公司"）将于 2023 年 4 月 18 日披露公 司 2022 年年度报告。为便于广大投资者全面、深入地了解公司 2022 ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥10,466,540,107.20, representing a 15.59% increase compared to ¥8,999,142,469.35 in the same period last year[3]. - Net profit attributable to shareholders was ¥621,598,319.57, up 25.98% from ¥504,801,623.14 year-on-year[3]. - The basic earnings per share for the period was ¥0.32, reflecting a 23.08% increase from ¥0.26 in the previous year[3]. - Total operating revenue for the first three quarters of 2022 reached ¥30,278,803,256.01, an increase from ¥25,111,678,942.29 in the same period of 2021, representing a growth of approximately 20.4%[15]. - Net profit for Q3 2022 reached ¥1.74 billion, compared to ¥1.41 billion in Q3 2021, reflecting a growth of approximately 23.3%[16]. - Basic and diluted earnings per share for Q3 2022 were both ¥0.89, an increase from ¥0.73 in the same period last year, marking a rise of about 21.9%[17]. - Total comprehensive income for Q3 2022 was approximately ¥1.74 billion, compared to ¥1.40 billion in Q3 2021, indicating an increase of around 24.1%[17]. Cash Flow - The net cash flow from operating activities was negative at -¥12,083,447,966.76, compared to a positive cash flow of ¥7,410,591,819.22 in the same period last year, indicating a significant decline of 265.17%[3]. - Cash flow from operating activities for the first nine months of 2022 was negative at approximately -¥12.08 billion, contrasting with a positive cash flow of ¥7.32 billion in the same period of 2021[19]. - Cash flow from investing activities in Q3 2022 resulted in a net outflow of approximately -¥1.11 billion, compared to -¥780.10 million in Q3 2021[20]. - Cash flow from financing activities showed a net outflow of approximately -¥523.18 million in Q3 2022, compared to -¥260.90 million in the same period last year[20]. - The net increase in cash and cash equivalents for the period was -¥1,013,560,145.10, compared to an increase of ¥1,003,941,530.59 in the same period last year[28]. - The ending balance of cash and cash equivalents was ¥1,435,868,028.99, down from ¥1,693,487,686.32 in the previous year[28]. Assets and Liabilities - Total assets at the end of the reporting period were ¥49,694,745,454.94, a decrease of 22.40% from ¥62,714,798,472.19 at the end of the previous year[4]. - Total liabilities decreased from ¥51,718,161,092.77 to ¥36,418,995,328.49, representing a reduction of approximately 29.5%[13]. - The total equity attributable to shareholders increased by 7.76% to ¥12,317,547,716.15 from ¥11,171,113,035.52 at the end of the previous year[4]. - The company's equity decreased to CNY 7,941,607,960.17 from CNY 8,644,948,768.72, reflecting a decline of about 8.1%[23]. - The total assets decreased from ¥64,041,410,809.23 in the previous period to ¥49,694,745,454.94 in the current period, a decline of about 22.4%[14]. Investments and Expenses - Research and development expenses increased by 34.02% year-on-year, totaling ¥13,474.12 million, due to increased R&D investment[11]. - Research and development expenses increased to ¥530,803,844.76 in the first three quarters of 2022, up from ¥396,062,605.40 in 2021, reflecting a growth of approximately 33.9%[15]. - The company reported a financial expense of CNY -26,827,938.29 for the third quarter of 2022, compared to CNY -8,911,409.60 in the same quarter of 2021, indicating an increase in financial costs[25]. - Investment income for the third quarter of 2022 was CNY 289,100,687.82, a decrease from CNY 1,430,752,945.28 in the same quarter of 2021, showing a decline of approximately 79.8%[25]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 78,459[9]. - The largest shareholder, China Aviation Industry Corporation, holds 66.10% of the shares, totaling 1,295,954,439 shares[9].

Financial Performance - The company's operating revenue for the first half of 2022 reached ¥19.81 billion, an increase of 23.39% compared to ¥16.06 billion in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥1.12 billion, reflecting a growth of 20.74% from ¥926.54 million in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥1.10 billion, up 22.97% from ¥891.74 million year-on-year[18]. - Basic earnings per share increased by 21.28% to CNY 0.57 compared to the same period last year[19]. - The weighted average return on equity rose to 9.35%, an increase of 0.62 percentage points year-on-year[19]. - The company achieved operating revenue of CNY 1,981,226,310.31, representing a year-on-year growth of 23.39%[31]. - Net profit attributable to shareholders reached CNY 111,872,510.00, up 20.74% year-on-year[31]. - The company reported a total comprehensive income of ¥1,119,409,649.55, compared to ¥905,600,367.63 in the previous year, an increase of 23.6%[114]. - The company reported a comprehensive income total of ¥1,118,725,073.84 for the first half of 2022[128]. - The company experienced a significant loss in the current period, with a net loss attributable to owners of ¥690,815,881.92[128]. Cash Flow and Liquidity - The net cash flow from operating activities showed a significant decline, amounting to -¥7.49 billion, a decrease of 126.13% compared to ¥28.67 billion in the same period last year[18]. - Net cash flow from operating activities decreased due to a high volume of customer payments received in the previous period[20]. - The company’s cash and cash equivalents decreased by 40.42% to CNY 12,985,770,185.07, primarily due to higher customer payments in the previous period[36]. - The total cash inflow from operating activities was CNY 1,831,092,183.32, significantly lower than CNY 51,178,551,227.68 in the first half of 2021[119]. - The net cash flow from operating activities was negative at CNY -7,491,774,293.53, compared to a positive CNY 28,673,185,297.65 in the previous year[120]. - The cash and cash equivalents at the end of the period were CNY 12,981,439,713.33, down from CNY 40,859,712,163.34 at the end of the first half of 2021[121]. - The company incurred financial expenses of CNY -20,070,887.13, compared to CNY -8,767,233.20 in the previous year[116]. - The company paid CNY 689,670,084.16 in dividends and interest, an increase from CNY 342,155,203.86 in the previous year[121]. Assets and Liabilities - The total assets of the company decreased by 19.25%, totaling ¥51.71 billion compared to ¥64.04 billion at the end of the previous year[18]. - The company's current assets totaled CNY 44.76 billion, down 21.6% from CNY 57.16 billion at the beginning of the period[104]. - Total liabilities were CNY 39.11 billion, a decrease of 24.4% from CNY 51.72 billion at the beginning of the period[106]. - The company's equity attributable to shareholders increased to CNY 11.69 billion, up 2.3% from CNY 11.43 billion at the beginning of the period[106]. - The total equity at the end of the reporting period is CNY 7,863,617,566.95, showing a decrease of CNY 708,868,969.45 compared to the previous period[138]. Investments and Acquisitions - The company acquired 60% of Jihang Company for CNY 156.64 million and increased its capital by CNY 200 million, resulting in a 77.35% ownership stake[19]. - The company agreed to acquire 60% of Jilin Aviation Maintenance Co., Ltd. for a cash consideration of 156.64 million yuan and to increase its capital by 200 million yuan[42]. - The company completed a capital increase of CNY 39 million in its subsidiary, reducing its ownership from 52.58% to 39.34%[39]. - The company plans to invest 180 million yuan in a private placement of shares in AVIC Electronics, pending shareholder approval and regulatory processes[43]. - The company raised a total of RMB 1,667,999,954.84 through the issuance of 59,763,524 shares at a price of RMB 27.91 per share[141]. Research and Development - The company invested CNY 406,861,634.21 in R&D, an increase of 53.28% compared to the previous year[33]. - Research and development expenses increased to ¥406,861,634.21, compared to ¥265,439,117.94 in the previous year, marking a growth of 53.2%[113]. Environmental Compliance - The company has established a quality management system to mitigate risks associated with complex production processes[47]. - The company achieved a 100% compliance rate with environmental impact assessments and administrative licensing for new construction projects[60]. - The company conducted various environmental monitoring methods, including self-monitoring, third-party monitoring, and online monitoring, to ensure pollutant discharge compliance[63]. - The company organized energy-saving and environmental protection activities to enhance employee awareness and promote a green development atmosphere[66]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[64]. Corporate Governance and Management - The company experienced a change in senior management with the resignation of the chief accountant and board secretary, effective July 27, 2022[51]. - The company’s board of directors approved several key proposals during the annual general meeting, including the financial budget for 2022[49]. - The company has implemented a stock incentive plan, granting a total of 3,171,000 restricted shares to 80 incentive targets[54]. - The total number of restricted shares held by directors and senior management at the end of the reporting period was 158,050 shares[99]. Risks and Challenges - The company faces risks including supply chain disruptions, quality control challenges, and potential impacts from macro policy changes affecting defense spending[47]. - The company has established a comprehensive emergency response plan for environmental incidents, including 44 on-site response plans[61]. Related Party Transactions - The company reported a total of 3,237,559.68 thousand yuan in actual related party transactions during the reporting period, compared to an estimated 5,997,753.52 thousand yuan[77]. - The actual amount for purchasing raw materials and fuel from related parties was 854,662.53 thousand yuan, significantly lower than the estimated 2,302,520.94 thousand yuan[77].

Financial Performance - Revenue for Q1 2022 reached ¥7,803,283,263.79, an increase of 34.78% compared to the same period last year[2] - Net profit attributable to shareholders was ¥511,349,667.52, reflecting a growth of 48.18% year-over-year[2] - Basic earnings per share (EPS) was ¥0.26, up 44.44% from the previous year[2] - Total operating revenue for Q1 2022 was 7,803,283,263.79 RMB, an increase of 34.8% compared to 5,789,504,709.66 RMB in Q1 2021[15] - Net profit for Q1 2022 reached 510,753,628.56 RMB, a 48.1% increase from 344,801,218.97 RMB in Q1 2021[17] - Earnings per share for Q1 2022 was 0.26 RMB, compared to 0.18 RMB in Q1 2021[18] Cash Flow and Liquidity - Cash flow from operating activities showed a net outflow of ¥2,461,076,237.84, indicating a significant decrease in cash inflow from customer payments[2][6] - Cash flow from operating activities in Q1 2022 was 1,214,781,269.13 RMB, a decrease from 4,323,246,153.49 RMB in Q1 2021[18] - The net cash flow from operating activities was -2,461,076,237.84 RMB for Q1 2022, compared to -1,785,039,477.99 RMB in Q1 2021, indicating a decline in operational performance[19] - Total cash and cash equivalents at the end of Q1 2022 amounted to 18,994,291,173.44 RMB, down from 21,616,610,064.37 RMB at the beginning of the period[20] - The company’s total equity as of March 31, 2022, was 8,646,028,973.17 RMB, slightly up from 8,644,948,768.72 RMB at the end of 2021[23] Assets and Liabilities - Total assets decreased by 5.22% from the end of the previous year, amounting to ¥59,506,229,684.48[3] - The company's cash and cash equivalents were reported at RMB 19.00 billion, down from RMB 21.62 billion, indicating a decrease of approximately 12.1%[12] - Total current liabilities decreased to approximately RMB 45.62 billion from RMB 49.35 billion, a reduction of about 7.0%[14] - Total liabilities decreased to 46,684,338,528.43 RMB from 50,480,325,462.62 RMB year-over-year[15] - The company reported a significant increase in accounts payable, rising to RMB 13.74 billion from RMB 9.70 billion, which is an increase of approximately 41.5%[14] Operational Metrics - Total operating costs for Q1 2022 were 7,204,146,731.34 RMB, up 33.9% from 5,381,964,555.96 RMB in Q1 2021[15] - Research and development expenses for Q1 2022 were 52,162,392.13 RMB, down from 66,786,002.82 RMB in Q1 2021[17] - Tax expenses for Q1 2022 were 88,691,518.66 RMB, compared to 60,431,155.94 RMB in Q1 2021[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 116,484[9] - Shareholder equity attributable to the parent company increased by 4.58% to ¥11,934,658,297.34[3] Investment Activities - The company reported a net cash flow from investing activities of -159,058,379.95 RMB for Q1 2022, compared to -140,293,944.34 RMB in Q1 2021, reflecting increased investment outflows[19] - The company has ongoing investments in long-term equity, with no specific figures disclosed for the current period[14] Other Information - The company did not report any new product launches or significant market expansions during this quarter[25] - The company is currently not engaged in any mergers or acquisitions as per the latest report[25]

Financial Performance - The net profit attributable to shareholders for 2021 was CNY 1,695,718,597.26, with the parent company achieving a net profit of CNY 1,461,664,063.50[4]. - The company's operating revenue for 2021 was CNY 34,088,358,707.71, representing a 24.79% increase compared to CNY 27,315,905,003.59 in 2020[16]. - The net profit attributable to shareholders for 2021 was CNY 1,695,718,597.26, a 14.56% increase from CNY 1,480,199,037.07 in 2020[16]. - The net cash flow from operating activities for 2021 was CNY 10,094,886,730.18, up 59.73% from CNY 6,319,894,352.62 in 2020[16]. - The total assets at the end of 2021 were CNY 62,780,477,436.26, a significant increase of 91.09% from CNY 32,853,080,760.29 at the end of 2020[16]. - The basic earnings per share for 2021 was CNY 0.87, reflecting a 14.47% increase from CNY 0.76 in 2020[17]. - The weighted average return on equity for 2021 was 15.42%, slightly up from 15.38% in 2020[17]. - The net profit after deducting non-recurring gains and losses for 2021 was CNY 1,596,553,426.63, a 69.93% increase from CNY 939,529,087.96 in 2020[16]. - The total revenue for 2021 reached 985.6 million, an increase compared to previous years[75]. - The total comprehensive income for 2021 was CNY 1,689,108,551.76, up from CNY 1,507,995,019.58 in 2020, marking a growth of 12.0%[178]. Dividend Distribution - The proposed cash dividend distribution is CNY 3.5 per 10 shares, totaling CNY 686,190,749.65 (including tax), which represents 47% of the net profit attributable to shareholders for the year[4]. - The company plans to distribute a cash dividend of 3.5 yuan per 10 shares, totaling approximately 686.19 million yuan, which represents 47% of the net profit attributable to shareholders for the year[95]. Risk Management - The company has detailed potential risks in its annual report, which investors should pay attention to[8]. - The annual report emphasizes the importance of investment risk awareness regarding forward-looking statements[6]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - There are no violations of decision-making procedures regarding external guarantees[8]. - The company has confirmed that there are no dissenting opinions from the supervisory board regarding risk supervision during the reporting period[90]. Research and Development - Research and development expenses surged by 130.34% to CNY 662,501,647.46, reflecting increased investment in innovation[32]. - The total R&D expenditure was CNY 662.90 million, accounting for 1.94% of operating revenue[41]. - The number of patents filed increased by 66% year-on-year, showcasing enhanced technological innovation capabilities[24]. - The company is committed to technological innovation and aims to mitigate risks associated with new product development and research costs[64]. Corporate Governance - The company has established a digital-driven production operation management platform, enhancing supply chain management capabilities[23]. - The company aims to implement a three-year reform action plan to enhance corporate governance and value management systems[24]. - The company has received an A-level rating for information disclosure for three consecutive years, demonstrating its commitment to transparency[68]. - The company held 12 board meetings and 7 supervisory meetings during the reporting period, ensuring compliance with governance regulations[67]. - The company has implemented measures to maintain independence from its controlling shareholder in terms of assets, personnel, and operations[70]. Environmental Responsibility - The company invested approximately 76.45 million yuan in environmental protection measures, including upgrades to waste treatment facilities and pollution monitoring[110]. - The company reported emissions of 2.74 tons of sulfur dioxide and 4.265 tons of nitrogen oxides, both compliant with national standards[108]. - The company has maintained a zero record of environmental violations during the reporting period[108]. - The company conducted 30 training sessions on environmental management systems, significantly enhancing employee awareness of energy conservation and environmental protection[113]. Strategic Goals - The company aims to align with the "Two-Step" strategic goal of becoming a world-class aviation industrial group by 2035 and a leading global aviation industry player by the mid-21st century[58]. - The company aims to enhance its role in national defense and military modernization, aligning with the strategic goals of becoming a strong aviation power[48]. - The company is adapting to new requirements for high-quality, efficient, and sustainable equipment development in response to military reforms[49]. Financial Transactions - The company reported a total of 1,726,590.60 thousand CNY in actual transactions for purchasing raw materials from related parties, against an estimated amount of 1,916,278.91 thousand CNY for 2021, representing an execution rate of approximately 90%[129]. - The actual sales to related parties amounted to 321,408.43 thousand CNY, compared to an estimated 376,665.98 thousand CNY, achieving about 85% of the forecasted sales[129]. - The company reported a total of 100,000,000 RMB in credit extended to a related party, AVIC Group Finance Co., Ltd.[136]. Shareholder Information - The total number of shares increased from 1,400,389,285 to 1,960,544,999 after a capital reserve conversion of 560,155,714 shares[147]. - The top shareholder, China Aviation Industry Corporation, holds 1,295,954,439 shares, representing 66.10% of the total shares[149]. - The company had a total of 114,390 common shareholders at the end of the reporting period, down from 140,488 the previous month[147].

Financial Performance - The company's operating revenue for Q3 2021 reached ¥8,999,142,469.35, representing a year-on-year increase of 22.88%[4] - The net profit attributable to shareholders for Q3 2021 was ¥504,801,623.14, marking a significant increase of 61.53% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses for the year-to-date period was ¥1,376,530,852.91, reflecting an increase of 81.78% year-on-year[5] - Basic earnings per share for Q3 2021 were ¥0.26, up 62.50% from the previous year[5] - Total operating revenue for the first three quarters of 2021 reached ¥24,916,706,410.26, a significant increase from ¥18,910,436,350.78 in the same period of 2020, representing a growth of approximately 31.6%[18] - Net profit for the third quarter of 2021 was ¥1,453,406,699.41, up from ¥1,162,296,964.58 in the same quarter of 2020, reflecting a growth of approximately 25.0%[21] - Total profit for the third quarter of 2021 was ¥1,659,015,725.82, compared to ¥1,362,190,839.87 in the same quarter of 2020, representing an increase of about 21.8%[21] - The total comprehensive income for the third quarter of 2021 was ¥1,442,611,436.07, up from ¥1,149,493,195.61 in the same quarter of 2020, reflecting an increase of approximately 25.5%[22] Assets and Liabilities - Total assets at the end of Q3 2021 amounted to ¥62,714,798,472.19, which is a 90.89% increase compared to the end of the previous year[5] - The company's total assets as of Q3 2021 amounted to ¥32,853,080,760.29, remaining stable compared to the previous year[27] - The total liabilities of the company were RMB 50.74 billion, compared to RMB 22.02 billion at the end of 2020, reflecting an increase of approximately 130.2%[17] - The total liabilities were reported at ¥21,443,865,160.03, indicating a consistent level of obligations compared to the previous year[27] - The company's total equity attributable to shareholders was ¥11,171,113,035.52, reflecting a year-on-year increase of 10.08%[5] - The company's total equity stood at RMB 11.98 billion, up from RMB 10.84 billion at the end of 2020, marking an increase of around 10.6%[17] Cash Flow - The company reported a net cash flow from operating activities of ¥7,410,591,819.22 for the year-to-date period[5] - Cash inflow from operating activities for the first three quarters of 2021 totaled ¥51,523,362,723.55, significantly higher than ¥10,074,265,876.16 in the same period of 2020[23] - The net cash flow from operating activities for Q3 2021 was ¥7,410,591,819.22, a significant improvement compared to the negative cash flow of ¥3,283,369,052.91 in Q3 2020[25] - The company reported a significant increase in cash paid for operating activities, totaling ¥3,290,690,148.70, compared to ¥507,998,582.11 in Q3 2020[25] - The company's cash and cash equivalents reached RMB 19.14 billion, up from RMB 12.63 billion in December 2020, indicating a growth of about 51.7%[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 116,740[11] - The company's cash paid for dividends and interest in Q3 2021 was ¥338,194,926.10, compared to ¥231,040,757.83 in Q3 2020, reflecting an increase in shareholder returns[25] Research and Development - Research and development expenses for the third quarter of 2021 amounted to ¥385,267,082.26, compared to ¥187,336,016.79 in the same quarter of 2020, indicating an increase of approximately 105.5%[20] Inventory and Receivables - The company's inventory decreased to RMB 6.57 billion from RMB 7.78 billion in December 2020, a decline of approximately 15.5%[15] - The accounts receivable decreased to RMB 3.68 billion from RMB 4.88 billion in December 2020, representing a decrease of about 24.6%[15] Other Financial Metrics - The weighted average return on equity for Q3 2021 was 4.57%, an increase of 1.35 percentage points year-on-year[5] - The company executed the new leasing standards starting from January 1, 2021, which may impact future financial reporting and asset management strategies[26] - The company has not disclosed any new product or technology developments in the extracted content[13]

Financial Performance - The company achieved a net profit attributable to shareholders of 949,333,898.38 yuan for the first half of 2021, with the parent company reporting a net profit of 589,282,472.14 yuan[5]. - The company's operating revenue for the first half of 2021 was approximately ¥15.92 billion, representing a 37.38% increase compared to the same period last year[18]. - The net profit attributable to shareholders was approximately ¥949.33 million, an increase of 11.87% year-over-year[18]. - The net profit after deducting non-recurring gains and losses was approximately ¥885.06 million, showing a significant increase of 93.06% compared to the previous year[18]. - The total comprehensive income for the first half of 2021 was approximately ¥937.79 million, compared to ¥836.33 million in the first half of 2020, indicating an increase of approximately 12.14%[86]. - The operating profit for the first half of 2021 was approximately ¥589.28 million, up from ¥363.00 million in the same period of 2020, reflecting a growth of about 62.38%[87]. - The company reported a significant increase in interest income to ¥102,692,377.80 from ¥72,228,739.97, suggesting improved financial management[85]. Cash Flow and Liquidity - The net cash flow from operating activities was approximately ¥28.90 billion, a substantial recovery from a negative cash flow of ¥4.14 billion in the same period last year[18]. - The company's cash and cash equivalents increased by 223.39% to CNY 40,851,644,499.78, primarily due to an increase in advance payments received[32]. - The ending balance of cash and cash equivalents reached CNY 40.85 billion, significantly up from CNY 3.92 billion in the previous period[92]. - Cash flow from operating activities for the first half of 2021 was approximately ¥1.05 billion, compared to ¥637.72 million in the same period of 2020, indicating an increase of about 64.51%[89]. Dividend Distribution - The company plans to distribute a cash dividend of 0.6 yuan per 10 shares, totaling approximately 117,632,699.94 yuan (including tax) based on a total share capital of 1,960,544,999 shares[5]. - The report indicates that the board of directors has approved the profit distribution plan, which is subject to shareholder meeting approval[5]. - The company plans to distribute dividends of ¥0.6 per 10 shares, with no stock bonus or capital reserve conversion proposed[44]. Assets and Liabilities - The total assets at the end of the reporting period reached approximately ¥66.27 billion, marking a 101.72% increase from the end of the previous year[18]. - The company's total liabilities increased to CNY 54.73 billion from CNY 22.02 billion, marking an increase of about 148%[81]. - The total equity attributable to shareholders rose to CNY 10.78 billion from CNY 10.15 billion, an increase of approximately 6%[81]. - The company's total liabilities at the end of the reporting period were ¥6,161,439,135.01[100]. Research and Development - Research and development expenses surged by 134.61% to CNY 261,091,477.38, reflecting a strong commitment to innovation[30]. - The company is focused on enhancing digital transformation and core technology capabilities through product lifecycle digitalization[30]. Risks and Compliance - The report includes a risk statement, highlighting potential risks that the company may face, which investors should be aware of[7]. - The company faces supply chain risks due to the complexity of its aviation defense equipment products, which may adversely affect production and operational performance[38]. - Quality control risks exist due to the strict quality requirements in the production process of aviation defense equipment, potentially impacting product quality[38]. - The company has not faced any non-operating fund occupation by controlling shareholders or related parties[6]. Environmental and Social Responsibility - The company has implemented 12 projects for the treatment of volatile organic compounds (VOCs), process exhaust, and wastewater, enhancing pollution prevention facilities[50]. - The company has established measures to ensure compliance with industrial noise emission standards[50]. - The company received recognition as a "National Advanced Grassroots Party Organization" on June 28, 2021, highlighting its commitment to governance and leadership[29]. - The company has established 6 ecological planting bases and 3 seed breeding bases for high-altitude black fungus, contributing to rural revitalization efforts since 2020[56]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 111,484[72]. - The largest shareholder, China Aviation Industry Group, held 1,373,086,777 shares, representing 70.04% of total shares[73]. - The company completed a capital reserve transfer plan, increasing total shares from 1,400,389,285 to 1,960,544,999 shares[76]. Corporate Governance - The company has undergone a board and supervisory committee restructuring, electing new members and appointing senior management[42]. - The company maintains independence in personnel, assets, institutions, business, and financial aspects as per commitments made since November 2016[60]. Accounting and Financial Reporting - The financial report for the first half of 2021 has not been audited, but management has confirmed its accuracy and completeness[4]. - The company adheres to the enterprise accounting standards, ensuring that the financial statements reflect a true and complete picture of its financial status and operating results[113]. - The company’s accounting records are maintained in RMB, which is the primary currency of its operating environment[116].

Financial Performance - Net profit attributable to shareholders decreased by 42.29% to CNY 345,082,804.40 compared to the same period last year[4] - Basic earnings per share decreased by 41.86% to CNY 0.25 compared to the same period last year[4] - The weighted average return on net assets decreased by 3.31 percentage points to 3.34% compared to the same period last year[4] - The net profit for Q1 2021 was CNY 344,801,218.97, a decrease of 42.4% compared to CNY 598,163,906.08 in Q1 2020[20] - The total profit for Q1 2021 was CNY 405,232,374.91, down from CNY 702,329,060.60 in the same period last year, representing a decline of 42.4%[20] - Basic earnings per share for Q1 2021 were CNY 0.25, compared to CNY 0.43 in Q1 2020, reflecting a decrease of 41.9%[20] - The operating profit for Q1 2021 was CNY 410,604,875.26, down from CNY 706,855,042.32 in Q1 2020, indicating a decline of 41.9%[20] - The company reported a significant decrease in other income by 85.07% to ¥58,886,766.16, mainly due to reduced government subsidies[10] - The company reported a significant increase in cash flow from operating activities, totaling CNY 4,323,246,153.49 in Q1 2021, compared to CNY 1,409,826,133.89 in Q1 2020, representing a growth of 206.5%[22] - The total comprehensive income for Q1 2021 was CNY 344,801,218.97, down from CNY 598,163,906.08 in Q1 2020, reflecting a decrease of 42.4%[20] Assets and Liabilities - Total assets decreased by 10.04% to CNY 29,554,770,085.00 compared to the end of the previous year[4] - Total liabilities decreased from ¥22,017,720,073.45 in Q1 2020 to ¥18,363,764,935.38 in Q1 2021, a reduction of approximately 16.5%[14] - Total assets increased slightly from ¥7,653,794,018.51 in Q1 2020 to ¥7,661,473,106.79 in Q1 2021, reflecting a growth of about 0.1%[16] - The company's equity attributable to shareholders rose from ¥10,148,447,601.91 in Q1 2020 to ¥10,504,202,701.23 in Q1 2021, an increase of approximately 3.5%[14] - The total current liabilities decreased from ¥21,443,865,160.03 in Q1 2020 to ¥17,182,687,318.05 in Q1 2021, a decline of approximately 20.0%[14] - Non-current liabilities increased from ¥573,854,913.42 in Q1 2020 to ¥1,181,077,617.33 in Q1 2021, representing a significant increase of about 105.5%[14] - The total equity increased from ¥10,835,360,686.84 in Q1 2020 to ¥11,191,005,149.62 in Q1 2021, reflecting a growth of about 3.3%[14] - The company's total current assets increased from ¥1,456,207,785.74 in Q1 2020 to ¥1,462,098,942.32 in Q1 2021, a growth of approximately 0.4%[15] Cash Flow - Net cash flow from operating activities was negative at CNY -1,785,039,477.99, compared to CNY -481,108,457.91 in the same period last year[4] - Total cash inflow from operating activities amounted to 5,174,490,688.25 RMB, while cash outflow was 6,959,530,166.24 RMB, resulting in a net cash flow deficit[23] - Cash and cash equivalents at the end of the period were 10,705,858,715.48 RMB, down from 12,631,808,008.72 RMB at the beginning of the period, reflecting a decrease of 1,925,949,293.24 RMB[24] - The cash inflow from investment activities was 11,253,375.60 RMB, while cash outflow was 151,547,319.94 RMB, leading to a net cash flow of -140,293,944.34 RMB[23] - The cash inflow from financing activities was 4,000,000.00 RMB, with cash outflow for dividend payments and interest totaling 1,145,208.33 RMB, resulting in a net cash flow of -1,145,208.33 RMB[24] - The company reported a significant increase in cash received from other operating activities, totaling 851,244,534.76 RMB, compared to 575,148,356.31 RMB in the previous year[23] - The total cash outflow for payments to employees was 715,033,298.26 RMB, an increase from 640,148,925.60 RMB year-over-year[23] Shareholder Information - The total number of shareholders was 101,766, with the largest shareholder holding 70.04% of the shares[7] - The top ten shareholders include state-owned enterprises and investment funds, indicating a strong institutional presence[7] Government Subsidies and R&D - The company received government subsidies amounting to CNY 61,745,658.09 related to normal business operations[5] - Research and development expenses surged by 83.78% to ¥66,786,002.82, reflecting higher investment in R&D[10] Strategic Initiatives - The company is actively pursuing new strategies for market expansion and product development, although specific details were not disclosed in the report[4] Other Financial Metrics - Accounts receivable decreased by 97.23% to ¥10,474,327.40 due to the collection of matured notes[9] - Prepayments decreased by 23.47% to ¥520,744,374.58 primarily due to the settlement of prior payments to suppliers[9] - Contract liabilities decreased by 28.50% to ¥3,381,722,593.11, mainly due to the recognition of revenue from previously received payments[10] - Other payables decreased by 90.65% to ¥224,657,586.48, primarily due to the repayment of accounts receivable factoring[10] - The company incurred a credit impairment loss of CNY -62,891,437.43 in Q1 2021, compared to CNY -59,069,049.04 in Q1 2020[20] - The company’s other income for Q1 2021 was CNY 45,841.67, down from CNY 61,361.00 in Q1 2020[20] - The company’s financial expenses for Q1 2021 were CNY -4,165,534.69, compared to CNY -1,483,752.62 in Q1 2020, indicating an increase in financial costs[21] - The company reported a decrease in management expenses to CNY 98,000.77 in Q1 2021 from CNY 114,515.37 in Q1 2020, indicating a reduction of 14.4%[21] Leasing Standards - The company executed new leasing standards, resulting in the recognition of right-of-use assets amounting to ¥11,847,209.89[9] - The company is implementing new leasing standards effective January 1, 2021, which may impact future financial reporting[30] - The company has not applied the new lease accounting standards retroactively, as indicated in the report[33]