证券代码：688586 证券简称：江航装备 公告编号：2024-026 合肥江航飞机装备股份有限公司 关于召开 2024 年半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、准确性和完整性依法承担法律责任。 重要内容提示： 合肥江航飞机装备股份有限公司（以下简称"公司"）已于 2024 年 8 月 29 日在上海证券交易所网站（www.sse.com.cn）披露了公司 2024 年半年度报告， 为便于广大投资者更全面深入地了解公司 2024 年半年度经营成果、财务状况， 公司计划于 2024 年 09 月 23 日（星期一）上午 11:00-12:00 举行 2024 年半年度 业绩说明会，就投资者关心的问题进行交流。 一、业绩说明会类型 本次业绩说明会以网络互动形式召开，公司将针对 2024 年半年度的经营成 果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范围 内就投资者普遍关注的问题进行回答。 二、业绩说明会召开的时间、地点 （一） 会议召开时间：2024 年 09 月 23 日（星期一）上午 11:00-12 ...

Investment Rating - The report maintains a "Buy" rating for Jianghang Equipment (688586) [1] Core Views - The company focuses on its core business in aviation emergency response, with an emphasis on research and innovation as a key growth driver [2] - Despite a decline in revenue and net profit in the first half of 2024, the company increased its R&D expenditure to 12.27% of revenue, indicating a commitment to future technological upgrades and product innovation [1][2] - The company is expanding into new industries related to aviation emergency rescue, including high-altitude oxygen vehicles and emergency vehicles, leveraging its oxygen production technology [2] - Jianghang Equipment holds a leading market position as the only domestic research and manufacturing base for aviation oxygen systems and specialized inerting systems for fuel tanks [2] Financial Summary - In the first half of 2024, the company reported revenue of 593 million yuan, a year-on-year decrease of 6.51%, and a net profit of 104 million yuan, down 22.20% year-on-year [1] - The company's projected net profits for 2024-2026 are 244 million, 289 million, and 340 million yuan respectively, with corresponding P/E ratios of 27, 23, and 19 times [2] - The asset-liability ratio stands at 29.17%, indicating a healthy asset structure and strong short-term solvency [1][2] - The company has a market capitalization of approximately 6.62 billion yuan, with a closing price of 8.36 yuan per share [4][5]

Financial Performance - Revenue for the first half of 2024 was ¥592,855,013.28, a decrease of 6.51% compared to ¥634,141,585.52 in the same period last year[12]. - Net profit attributable to shareholders was ¥104,155,789.87, down 22.20% from ¥133,868,960.60 year-on-year[12]. - Net profit after deducting non-recurring gains and losses was ¥87,776,758.91, a decline of 26.29% compared to ¥119,086,488.84 in the previous year[12]. - The net cash flow from operating activities was -¥119,893,324.15, compared to -¥102,286,797.64 in the same period last year[12]. - Basic earnings per share decreased by 45.83% to CNY 0.13 compared to the same period last year[13]. - Diluted earnings per share also decreased by 45.83% to CNY 0.13 compared to the same period last year[13]. - The weighted average return on equity decreased by 1.42 percentage points to 4.17% compared to the same period last year[13]. - The company reported a total R&D investment of ¥72,734,625.32 for the current period, representing a 14.77% increase compared to ¥63,374,206.39 in the same period last year[32]. - The company reported a significant decrease in investment cash flow, with a net cash flow of ¥14,489,447.74, down 87.39% from ¥114,909,973.26 in the previous year[47]. Assets and Liabilities - Total assets decreased by 2.52% to ¥3,494,563,921.49 from ¥3,584,944,155.52 at the end of the previous year[12]. - Net assets attributable to shareholders at the end of the reporting period were ¥2,480,704,163.90, a slight increase of 0.15% from ¥2,477,052,408.97 at the end of the previous year[12]. - Accounts receivable increased by 60.56% to ¥901,647,678.70, compared to ¥561,573,046.81 at the end of the previous year, indicating a decrease in cash collection[48]. - Total liabilities decreased to ¥1,013,859,757.59 from ¥1,107,891,746.55, a decline of about 8.5%[112]. - The company's equity attributable to the parent company reached 2.481 billion yuan, a year-on-year increase of 0.15%[45]. Research and Development - Research and development expenses accounted for 12.27% of operating revenue, an increase of 2.28 percentage points year-on-year[13]. - The company has accumulated 764 patents and received over 60 national and provincial-level scientific and technological awards[20]. - The company applied for 31 new patents during the reporting period, with 26 patents granted, bringing the cumulative total to 1,388 applications and 775 grants[31]. - The company is currently developing an emergency oxygen supply system for aircraft, which aims to meet the needs of cabin decompression conditions[28]. - The company reported research and development expenses for the first half of 2024 were ¥32,334,630.31, a slight decrease of 1.99% from ¥32,991,761.45 in the previous year[47]. Market Position and Strategy - The company operates in the aerospace equipment and special refrigeration sectors, focusing on oxygen systems and military refrigeration equipment[17]. - The company has successfully expanded its military refrigeration equipment to cover all branches of the armed forces, enhancing its market presence[17]. - The company is positioned as a core component integrator in the aviation manufacturing industry, focusing on aviation life support systems and fuel systems[19]. - The aviation manufacturing industry in China has entered a fast development track, with a complete technical and industrial system established[19]. - The company has established itself as the only domestic R&D and manufacturing base for aviation oxygen systems, covering all military aircraft and some civil aircraft[42]. Environmental and Social Responsibility - The company invested 884,600 RMB in environmental protection during the reporting period, with a 100% compliance rate for hazardous waste disposal[58][59]. - The company successfully passed the environmental management system re-certification in February 2024, demonstrating its commitment to high environmental standards[59]. - The company has established pollution control facilities, including wastewater treatment plants and hazardous waste storage, to manage its environmental impact[60]. - The company has a comprehensive emergency response plan for environmental incidents, which was revised and approved in April 2023[62]. - The company actively engaged in rural revitalization and public welfare activities, including donations to support disadvantaged community members[67]. Corporate Governance and Shareholder Relations - The company has committed to strict compliance with confidentiality laws and regulations to prevent the leakage of state secrets[89]. - The controlling shareholder, AVIC, has committed to not engaging in any business activities that directly or indirectly compete with the main business of Jianghang Equipment[74]. - The company emphasizes shareholder returns and will prioritize cash dividends in its profit distribution policy[71]. - The company will ensure compliance with laws and regulations regarding corporate governance to protect the interests of public shareholders[72]. - The company has a comprehensive plan to manage energy consumption and carbon emissions, promoting a transition to low-carbon development[66]. Financial Management - The company reported a total of 216,500,000 CNY in expected related party transactions for 2024, with actual transactions amounting to 124,439,100 CNY, representing approximately 57.5% of the expected amount[91]. - The company has a maximum daily deposit limit of 1,400,000,000 CNY with its related party, with an interest rate range of 0.205%-3.25%[93]. - The total amount of raised funds is approximately RMB 940.93 million, with RMB 499.89 million utilized by the end of the reporting period, representing a utilization rate of 53.10%[98]. - The company has allocated RMB 122 million for working capital, fully utilized by the end of the reporting period, achieving a 100% utilization rate[99]. - The company has not reported any major contracts or their performance during the reporting period[95].

中信证券股份有限公司、中航证券有限公司 关于合肥江航飞机装备股份有限公司 使用部分暂时闲置募集资金进行现金管理的核查意见 二、募集资金使用情况 按照《合肥江航飞机装备股份有限公司首次公开发行股票并在科创板上市招 股说明书》披露的募集资金投资项目及募集资金使用计划，募集资金专户上的募 集资金余额共 94,093.34 万元。募集资金使用计划如下： 1 单位：万元 | 序号 | 项目名称 | 项目总投资 | 计划利用募集资金 投资额 | | --- | --- | --- | --- | | 1 | 技术研究与科研能力建设项目 | 18,175 | 17,903 | | 2 | 产品研制与生产能力建设项目 | 16,588 | 13,169 | | 3 | 环境控制集成系统研制及产业化项目 | 9,500 | 7,036 | | 4 | 补充流动资金 | 15,000 | 15,000 | | | 合计 | 59,263 | 53,108 | 中信证券股份有限公司、中航证券有限公司（以下简称"保荐机构"）作为 合肥江航飞机装备股份有限公司（以下简称"江航装备"或"公司"）首次公开 发行股票并在科创板上市的保荐机构 ...

证券代码：688586 证券简称：江航装备 合肥江航飞机装备股份有限公司 投资者关系活动记录表 编号：2024-001 √特定对象调研 □分析师会议 □媒体采访 □业绩说明会 投资者关系活动类别 □新闻发布会 □路演活动 √现场参观 √其他（电话会议） 国投瑞银基金：李轩，首钢基金：董宇鑫、周爵祺，广发基金 ：顾益辉，中信建投：黎韬扬、王春阳，国元证券：马捷，北 京文博启盛：白天、程严、刘艳丽、张广泰、许文琪，保利汇 鑫：韩卓然、丁梓晨，鼎萨投资：张王品，红珊瑚资产：唐子 逸，成都产投：李杰，诚通基金：徐可，大家资产：方城林， 淡水泉投资：陈晓生、周坤凯，点石投资：杨紫琪，东北证券 ：黄泽、王一鸣、王凤华，东吴证券：苏立赞、高正泰，东兴 基金：周昊，方正证券：黄凯伦，泽源资产：吴金勇，光大保 德信基金：王艺伟、林凤，光大证券：王凯、冷昊，国创基金 ：张嘉芮，国泰君安：宋博，中航证券：梁晨、宋浩田、耿乙 、洪瑶、李博伦、刘军、倪雅彤，国元证券：石昆仑，合肥建 参与单位名称及人员 投资本：葛浩然，厚雪基金：黄思琴，华安基金：花超，华泰 姓名 证券：刘新宇，华西证券：向阳，华夏基金：胡斌，华源证券 ：王光源、杜见平 ...

这些专业像开展的这个相关的这种研发工作至于具体项目可能因为我们那个在报告中也都是这个做了托密处理在这里面也不太方便给你透露开展哪些项目因为确实项目有很多都是现在目前这种军方立项立项 各个型号这个里面牵扯到就是为什么说这回到年底之中确认了这个里面是因为大家也知道最近现在由于军军方从裁判其实的改革啊因为这个现在也是要求这个呃科研经费啊由这个军方和这个工业部门来共同承担呃由于这种军方这种他这种等各大项目的论论证的过程中啊就是经费 总的盘子确定还是存在一定的滞后性可能通常我们因为签订研发经费的合同通常都是在下半年才能陆续签订但是我不能等到他经费合同签订以后再开展相关工作其实很多工作是同步进行的可能只有到经费合同签订之后我落实到多少经费操作部分 才是落实到这个年度经费里面去所以就存在了一个集中进到这个四季度的这种情况而这种情况呢可能短期内可能都还改变不了这种情况但是我想就这种情况可能随着正在整个经费这种向科学管理水平进一步提高这种情况可能会 逐步逐步加上可能更多以后可能是在均匀的分担到各个纪录当中回答完毕谢谢明白感谢领导非常清晰那请那个会议助理请打开投资的问答环节然后也把那个文字提问播报一下大家好如需提问电话端的参会者 ...

证券代码：688586 证券简称：江航装备 公告编号：2024-021 合肥江航飞机装备股份有限公司 第二届监事会第十次会议决议公告 （一）审议通过《合肥江航飞机装备股份有限公司 2024 年第一季度报告》 监事会认为：2024 年第一季度报告的编制和审议程序符合相关法律法规及 《公司章程》的有关规定。报告的内容与格式符合有关规定。报告真实反映了公 司 2024 年第一季度的财务状况和经营成果，披露的信息真实、准确、完整，不 存在任何虚假记载、误导性陈述或重大遗漏。 表决结果：3 票同意，0 票反对，0 票回避，0 票弃权。 具体内容详见公司于同日在上海证券交易所网站（www.sse.com.cn）披露的 《江航装备 2024 年第一季度报告》。 三、备查文件 本公司监事会及全体监事保证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、准确性和完整性依法承担法律责 一、监事会会议召开情况 合肥江航飞机装备股份有限公司（以下简称"公司"）第二届监事会第十次 会议（以下简称"本次会议"）于 2024 年 4 月 26 日以现场结合通讯的方式召 开，本次会议通知已于 2024 年 4 月 1 ...

Financial Performance - The company's operating revenue for Q1 2024 was CNY 308,921,731.50, representing a year-on-year increase of 1.23%[2] - The net profit attributable to shareholders for the same period was CNY 60,868,475.85, reflecting a growth of 1.10% compared to the previous year[2] - The net profit after deducting non-recurring gains and losses was CNY 54,206,967.19, with an increase of 1.09% year-on-year[2] - Total operating revenue for Q1 2024 was RMB 308,921,731.50, a slight increase of 0.9% compared to RMB 305,175,006.16 in Q1 2023[18] - Net profit for Q1 2024 reached RMB 60,868,475.85, representing a 1.1% increase from RMB 60,206,675.54 in Q1 2023[19] - Operating profit for Q1 2024 was RMB 68,975,438.42, an increase of 1.9% compared to RMB 67,709,242.95 in Q1 2023[19] - Basic and diluted earnings per share for Q1 2024 remained at RMB 0.08, unchanged from Q1 2023[20] Cash Flow - The net cash flow from operating activities was negative at CNY -80,947,723.55, with the reason attributed to an increase in received payments[7] - Cash inflow from operating activities in Q1 2024 was RMB 126,709,093.94, up 35.8% from RMB 93,275,600.10 in Q1 2023[21] - Cash outflow from operating activities in Q1 2024 totaled RMB 207,656,817.49, a decrease of 7.2% compared to RMB 223,807,488.28 in Q1 2023[21] - The net cash flow from operating activities for Q1 2024 was -$80,947,723.55, compared to -$130,531,888.18 in Q1 2023, indicating an improvement[22] - The net cash flow from investment activities was $2,589,214.27, significantly lower than $527,499,249.98 in Q1 2023[22] - The net cash flow from financing activities was -$961,500.00, slightly worse than -$914,100.00 in Q1 2023[22] - The net increase in cash and cash equivalents was -$79,320,009.28, contrasting with an increase of $396,053,261.80 in Q1 2023[22] - The ending balance of cash and cash equivalents was $922,003,076.36, down from $1,426,174,198.82 at the end of Q1 2023[22] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,566,234,039.16, a decrease of 0.52% from the end of the previous year[3] - As of March 31, 2024, the company's total assets amounted to RMB 3,566,234,039.16, a decrease from RMB 3,584,944,155.52 as of December 31, 2023, reflecting a reduction of approximately 0.8%[13][15] - The company's cash and cash equivalents decreased to RMB 949,187,109.69 from RMB 1,027,483,419.23, representing a decline of about 7.6%[13] - Accounts receivable increased significantly to RMB 693,338,602.72 from RMB 561,573,046.81, marking an increase of approximately 23.4%[13] - The total current liabilities decreased to RMB 773,271,282.10 from RMB 839,278,330.19, a reduction of about 7.9%[15] - The company's total equity rose to RMB 2,539,159,343.06 from RMB 2,477,052,408.97, indicating an increase of approximately 2.5%[15] - The company's total liabilities decreased to RMB 1,027,074,696.10 from RMB 1,107,891,746.55, a reduction of about 7.3%[15] Research and Development - The company's R&D investment totaled CNY 31,032,355.37, accounting for 10.05% of operating revenue, which is a decrease of 1.17 percentage points year-on-year[3] - Research and development expenses for Q1 2024 were RMB 15,253,391.59, a decrease of 12.3% from RMB 17,467,040.33 in Q1 2023[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,074[10] - The largest shareholder, AVIC Aircraft Systems Co., Ltd., holds 324,592,366 shares, accounting for 41.02% of the total shares[10] Government Subsidies - The company received government subsidies amounting to CNY 4,145,926.90, which are closely related to its normal business operations[5] Other Information - The company did not report any significant new product developments or market expansion strategies during the quarter[12] - The company has adopted new accounting standards starting in 2024, which may affect financial reporting[24]

证券代码：688586 证券简称：江航装备 公告编号：2024-020 合肥江航飞机装备股份有限公司 2023 年年度权益分派实施公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： | 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2024/4/24 | 2024/4/25 | 2024/4/25 | 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经合肥江航飞机装备股份有限公司（以下简称"公司"）2024 年 4 月 8 日的 2023 年年度股东大会审议通过。 二、 分配方案 1. 发放年度：2023 年年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 分配方案： 本次利润分配以方案实施前的公司总股本 791,339,156 股为基数，每股派发 现金红利 0.13 元（含税），共计派发现金红利 102,874,090.28 ...

证券代码：688586 证券简称：江航装备 公告编号：2024-018 合肥江航飞机装备股份有限公司 关于召开 2023 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、准确性和完整性依法承担法律责任。 重要内容提示： 投资者可于 2024 年 04 月 19 日(星期五)至 04 月 25 日(星期 四)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过公司邮箱 hkgy@jianghang.com 进行提问。公司将在说明会上对 投资者普遍关注的问题进行回答。 合肥江航飞机装备股份有限公司（以下简称"公司"）已于 2024 年 3 月 15 日在上海证券交易所网站（www.sse.com.cn）披露了《江 航装备 2023 年年度报告》，为便于广大投资者更全面深入地了解公 司 2023 年度经营成果、财务状况，公司计划于 2024 年 04 月 26 日(星 期五)上午 10:00-11:30 举行 2023 年度业绩说明会，就投资者关心的 问题进行交流。 一、业绩说明会类型 本次业绩说明会以视频结合网络互动召开， ...