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：2022-002 | --- | --- | --- | |--------------|---------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥296,658,115.73, representing a year-on-year increase of 22.76%[7] - The net profit attributable to shareholders for the same period was ¥75,093,121.22, with a year-on-year growth of 7.36%[7] - The net profit after deducting non-recurring gains and losses reached ¥66,864,500.82, reflecting a 7.74% increase compared to the previous year[7] - Total operating revenue for the first three quarters of 2022 reached ¥882,981,240.21, an increase of 22.0% compared to ¥723,822,256.02 in the same period of 2021[39] - Net profit for the third quarter of 2022 was ¥222,492,886.06, compared to ¥198,116,742.16 in the previous year, marking an increase of 12.2%[41] - The total comprehensive income for the third quarter was ¥222,492,886.06, an increase from ¥198,116,742.16 in the previous year[45] Earnings and Shares - The basic earnings per share for Q3 2022 was ¥0.19, reflecting an increase of 11.76% year-on-year[11] - The diluted earnings per share also stood at ¥0.19, with a similar year-on-year increase of 11.76%[11] - Basic and diluted earnings per share for the third quarter were both ¥0.55, up from ¥0.49 in the same quarter of 2021[45] Research and Development - Research and development (R&D) expenses totaled ¥40,257,829.05 in Q3 2022, marking a 32.19% increase year-on-year[11] - R&D expenses accounted for 13.57% of operating revenue, up by 0.97 percentage points from the previous year[11] - Research and development expenses for the first three quarters of 2022 were ¥53,589,180.11, up from ¥33,355,383.02, indicating a significant increase of 60.5%[39] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,459,435,220.13, a decrease of 0.74% compared to the end of the previous year[11] - The equity attributable to shareholders increased to ¥2,236,821,741.76, showing a year-on-year growth of 7.32%[11] - Total liabilities decreased to ¥1,222,613,478.37 from ¥1,400,735,398.74, a reduction of approximately 12.7%[35] - The company's current liabilities included accounts payable of CNY 495.79 million, which increased from CNY 451.12 million, marking an increase of approximately 9.9%[33] Cash Flow - The net cash flow from operating activities for the year-to-date was negative at -¥219,489,236.97, a decline of 247.38% compared to the same period last year[11] - Cash flow from operating activities for the first three quarters of 2022 was ¥340,243,446.44, a decrease from ¥795,854,506.64 in the same period of 2021[47] - The net cash flow from operating activities was -$219,489,236.97, a significant decrease compared to $148,923,643.48 in the previous period, indicating a decline in operational performance[50] - The total cash and cash equivalents at the end of the period were $645,424,912.81, down from $1,317,478,752.23, indicating a significant decrease in liquidity[52] Investment Activities - Cash inflow from investment activities totaled $736,377,202.73, up from $590,500,000.00, reflecting an increase in investment recovery[50] - The net cash flow from investment activities was -$19,594,779.19, a decrease from $1,587,611.90, suggesting challenges in investment returns[50] - The company received $730,000,000.00 from investment recoveries, which is an increase from $590,000,000.00, highlighting successful investment strategies[50] Cost Management - Total operating costs for the same period were ¥656,947,627.62, up from ¥514,445,382.12, reflecting a growth of 27.7%[39] - Cash paid for purchasing goods and services was $302,723,219.87, down from $397,122,771.26, reflecting cost management efforts[50] - Cash paid to employees increased to $210,686,180.32 from $190,169,433.01, indicating rising labor costs[50]

证券代码：688586 证券简称：江航装备 公告编号：2022-026 合肥江航飞机装备股份有限公司 关于参加安徽辖区上市公司 2022 年投资者 网上集体接待日活动的公告 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。 为进一步加强与投资者的互动交流，合肥江航飞机装备股份有限公司（以下 简称"公司"）将参加由安徽证监局指导、安徽上市公司协会与深圳市全景网络 有限公司联合举办的"安徽辖区上市公司 2022 年投资者网上集体接待日活动"， 现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP,参与本 次互动交流，活动时间为 2022 年 9 月 7 日（周三）14：00-17：00。届时公司高 管将在线就公司 2022 年半年度业绩、公司治理、发展战略、经营状况、融资计 划、股权激励和可持续发展等投资者关心的问题与投资者进行沟通与交流。 欢迎广大投资者踊跃参与。 特此公告。 合肥江航飞机装备股份有限公 ...

Capital Structure and Financial Performance - The company plans to increase its share capital by 161,497,787 shares, resulting in a total share capital of 565,242,254 shares after the increase[7]. - As of June 30, 2022, the company's capital reserve balance was RMB 1,225,347,543.68[7]. - The company will not distribute cash dividends or bonus shares during this profit distribution[7]. - The company’s total share capital as of June 30, 2022, was 403,744,467 shares[7]. - The company achieved operating revenue of CNY 586,323,124.48 in the first half of 2022, representing a year-on-year increase of 21.60%[27]. - Net profit attributable to shareholders was CNY 147,399,764.84, up 15.00% compared to the same period last year[27]. - The total equity attributable to the parent company was 2.16 billion yuan, reflecting a year-on-year increase of 3.71%[1]. - The company’s profit distribution plan does not include cash dividends or stock dividends for the current period[127]. - The company emphasizes shareholder returns and will prioritize cash dividends in its profit distribution policy[167]. - The profit distribution policy emphasizes cash dividends, with a minimum cash dividend ratio of 80% for mature companies without major capital expenditures[199]. Risks and Compliance - The company is subject to various risks as outlined in the "Management Discussion and Analysis" section of the report[5]. - The company has received a standard unqualified audit report from Dahua Certified Public Accountants[6]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[11]. - The company has no major changes in business types or profit sources during the reporting period[107]. - The company has not faced any administrative penalties related to environmental issues during the reporting period, indicating compliance with regulations[138]. - The company will ensure compliance with relevant laws and regulations during any share repurchase or increase in holdings[159]. - The company commits to strict compliance with the relevant laws and regulations regarding corporate governance and will not engage in unrelated fund transactions with its subsidiaries[182]. Research and Development - Research and development expenses accounted for 9.62% of operating revenue, up from 8.87% in the previous year[29]. - The company reported a total R&D investment of ¥42,784,768.76, representing a year-on-year increase of 31.86%[72]. - The company applied for 40 new patents during the reporting period, with 27 patents granted, bringing the cumulative total to 1,140 applications and 613 grants[71]. - The number of R&D personnel increased to 213, representing 15.57% of the total workforce, up from 191 and 14.24% respectively in the previous year[85]. - The company has developed core technologies that are internationally leading, including oxygen regulation technology and onboard molecular sieve oxygen generation technology, making China the fourth country to master these technologies[89]. - The company has established a comprehensive quality management system and has received multiple certifications, including GB/T19001-2016 and AS9100D[92]. Environmental Responsibility - The company reported a compliance rate of 100% for hazardous waste disposal, with 26.1075 tons of hazardous waste treated in the first half of 2022[130]. - The company invested CNY 425,000 in environmental protection measures during the first half of 2022[130]. - The company successfully passed environmental audits in January and March 2022, demonstrating compliance with environmental management standards[130]. - The company has established wastewater and air pollution treatment facilities that are operating normally[131]. - The company has implemented a comprehensive carbon reduction strategy, integrating low-carbon concepts into its operations to enhance core competitiveness[140]. - The company conducts monthly environmental monitoring and publicly discloses the results by the 15th of the following month, ensuring transparency in its environmental practices[137]. Market Position and Business Strategy - The company operates in the aerospace equipment and special refrigeration sectors, focusing on products such as aviation oxygen systems and onboard fuel tanks, with a significant market position in China[37]. - The company is the only specialized manufacturer of aviation oxygen systems and onboard fuel tank inerting systems in China, with a leading position in the aircraft auxiliary fuel tank market[40]. - The company is actively expanding its market presence by developing new customer relationships, successfully onboarding over 20 new clients in the special refrigeration sector[40]. - The company has formed stable partnerships with major military groups and national research institutions, ensuring a reliable supply chain[91]. - The company is focusing on enhancing production capacity and has initiated the construction of multiple production lines[1]. Shareholder Commitments and Governance - The controlling shareholder, AVIC, and its subsidiaries committed to not transferring or managing shares held before the IPO for 36 months from the listing date[154]. - The company will repurchase shares within 6 months after the shareholder meeting resolution, not exceeding 2% of total shares before repurchase[163]. - The controlling shareholder will submit a plan to increase holdings within 30 days if the stock repurchase plan is not approved or does not meet conditions[164]. - The company guarantees that any share reduction by controlling shareholders within two years after the lock-up period will not be below the issuance price[186]. - The company will publicly disclose reasons for any failure to fulfill commitments and will compensate investors for any losses incurred due to such failures[187].

Financial Performance - The company's operating revenue for Q1 2022 was ¥268,522,580.07, representing a year-on-year increase of 42.38%[6] - The net profit attributable to shareholders was ¥56,595,989.40, reflecting a growth of 28.52% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥47,410,414.44, up by 21.86% year-on-year[6] - The basic earnings per share for the period was ¥0.14, marking a 27.27% increase from the previous year[6] - Net profit for Q1 2022 reached ¥56,595,989.40, compared to ¥44,035,764.22 in Q1 2021, reflecting a growth of 28.5%[33] - Basic earnings per share for Q1 2022 were ¥0.14, an increase from ¥0.11 in Q1 2021[33] - The company reported a total comprehensive income of ¥56,595,989.40 for Q1 2022, compared to ¥44,035,764.22 in Q1 2021[33] Research and Development - Research and development (R&D) expenses totaled ¥27,491,824.33, which is an increase of 100.17% compared to the previous year[9] - R&D expenses accounted for 10.24% of operating revenue, an increase of 2.96 percentage points year-on-year[9] - Research and development expenses for Q1 2022 amounted to ¥18,951,471.11, significantly higher than ¥6,340,788.94 in Q1 2021, indicating a 198.5% increase[31] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,456,458,273.62, a decrease of 0.82% from the end of the previous year[9] - As of March 31, 2022, the company's total assets amounted to approximately RMB 3.46 billion, a decrease from RMB 3.49 billion at the end of 2021[22] - The company's cash and cash equivalents were reported at RMB 820.82 million, down from RMB 978.77 million in the previous year[22] - Accounts receivable increased to RMB 472.08 million from RMB 343.92 million, indicating a growth of approximately 37.3% year-over-year[22] - Inventory levels rose to RMB 723.12 million, compared to RMB 685.46 million, reflecting an increase of about 5.5%[22] - The total current liabilities were RMB 1.00 billion, slightly up from RMB 1.00 billion in the previous year[25] - The company's long-term equity investments stood at RMB 11.34 million, a slight decrease from RMB 11.41 million[25] - The company reported a decrease in financial assets held for trading from RMB 530 million to RMB 100 million, a decline of approximately 81.1%[22] - The company's other current assets increased significantly to RMB 457.34 million from RMB 60.41 million, marking a growth of approximately 655.5%[22] - The company's total non-current assets were RMB 691.64 million, a slight decrease from RMB 694.64 million[25] - Total liabilities as of the reporting date were ¥1,387,272,031.63, slightly down from ¥1,400,735,398.74 in the previous period[31] - Total equity attributable to shareholders was ¥2,069,186,241.99, a decrease from ¥2,084,324,022.45[31] Cash Flow - The company experienced a decrease in cash flow from operating activities, with a net cash flow of -¥180,240,807.19, primarily due to reduced customer payments compared to the previous year[13] - The net cash flow from operating activities for Q1 2022 was -180,240,807.19, compared to -121,124,580.94 in Q1 2021, indicating a decline in cash flow[36] - Total cash inflow from operating activities was 92,180,071.07 in Q1 2022, down from 130,773,974.67 in Q1 2021, reflecting a decrease of approximately 29.5%[36] - Cash outflow from operating activities increased to 272,420,878.26 in Q1 2022, compared to 251,898,555.61 in Q1 2021, representing an increase of about 8.5%[36] - The net cash flow from investing activities was 27,533,278.38 in Q1 2022, a significant improvement from -484,788,539.33 in Q1 2021[38] - Cash inflow from investment activities totaled 584,538,191.78 in Q1 2022, compared to 50,000,000.00 in Q1 2021, showing a substantial increase[38] - Cash outflow from investment activities was 557,004,913.40 in Q1 2022, compared to 534,788,539.33 in Q1 2021, indicating a slight increase[38] - The net cash flow from financing activities was -427,200.00 in Q1 2022, contrasting with a positive flow of 437,172.78 in Q1 2021[38] - The ending cash and cash equivalents balance for Q1 2022 was 797,043,114.30, down from 1,262,147,589.74 in Q1 2021, reflecting a decrease of approximately 36.8%[38] - The company reported a cash inflow of 580,000,000.00 from recovering investments in Q1 2022, a significant increase from 50,000,000.00 in Q1 2021[37] - The company’s cash flow from operating activities showed a negative trend, which may impact future operational strategies and liquidity management[36] Market Presence - The company expanded its market presence, leading to increased orders and revenue from oxygen and fuel tank products, as well as military refrigeration products[13] - The company has not disclosed any significant new product developments or market expansion strategies during the reporting period[20]

Financial Performance - The company reported a profit available for distribution to investors of ¥365,789,490.10 for the year 2021[7]. - A cash dividend of ¥1.8 per 10 shares (including tax) is proposed, totaling ¥72,674,004.06, which represents 31.44% of the net profit attributable to shareholders[7]. - The company's operating revenue for 2021 was approximately ¥953.29 million, representing a year-over-year increase of 14.72% compared to ¥830.97 million in 2020[26]. - The net profit attributable to shareholders for 2021 was approximately ¥231.16 million, reflecting a growth of 19.23% from ¥193.88 million in 2020[26]. - The net cash flow from operating activities increased by 50.81% in 2021, amounting to approximately ¥321.34 million, primarily due to customer prepayments[26]. - The company's total assets as of the end of 2021 reached approximately ¥3.49 billion, a 16.67% increase from ¥2.99 billion at the end of 2020[29]. - The net profit attributable to the parent company was 231.16 million yuan, with a year-on-year increase of 19.23%[40]. - The total assets at the end of the reporting period were 3,485.06 million yuan, reflecting a year-on-year growth of 16.67%[43]. - The company achieved operating revenue of CNY 953.29 million, a year-on-year increase of 14.72% compared to 2020[122]. - Net profit attributable to shareholders reached CNY 231.16 million, reflecting a growth of 19.23% year-on-year[122]. Research and Development - The R&D expenditure as a percentage of operating revenue rose to 12.26% in 2021, up from 10.40% in 2020, indicating a focus on innovation[29]. - The total R&D investment amounted to ¥86,427,090.94, representing a year-on-year increase of 35.22%[86]. - R&D expenses accounted for 10.40% of total revenue, an increase of 1.86 percentage points compared to the previous year[86]. - The company filed 121 patents during the reporting period, with 58 patents granted, bringing the total granted patents to 586[85]. - The company is currently developing several oxygen systems and nitrogen systems for next-generation aircraft, aiming for international advanced levels in technology[92]. - The company has developed a series of oxygen systems for various aircraft, including military and civilian models, establishing itself as a leading manufacturer in this segment[106]. - The R&D team includes 1 PhD, 73 master's degree holders, and 115 bachelor's degree holders, indicating a strong educational background[105]. - The company is currently in the research and development phase for several new technologies aimed at enhancing military vehicle performance[78]. Market and Product Development - The company is focusing on expanding its market presence in both military and civilian sectors, including new product development and technological advancements[44]. - The company plans to enhance its operational management and core competencies through continuous investment in research and development[43]. - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market reach[192]. - Plans for market expansion include targeting international markets, aiming for a 15% increase in overseas sales[192]. - The company aims to strengthen market expansion capabilities by targeting military clients and pursuing projects like the CR929 aircraft oxygen system and ARJ21-700 aircraft components[170]. - The company is committed to innovation-driven development, enhancing management systems, and improving quality control to achieve efficiency and quality-driven growth[167]. Governance and Management - The company does not have any special arrangements for corporate governance[10]. - The company has a governance structure consisting of a board of 9 directors, including 7 external directors and 3 independent directors[175]. - The company has established a series of internal management and control systems to ensure the rights and obligations of shareholders, directors, supervisors, and senior management are clearly defined[175]. - The company has implemented measures to enhance its governance structure, including revisions to its articles of association and internal rules[175]. - The company has maintained a clear division of responsibilities among its governance bodies to facilitate efficient decision-making[175]. Risks and Challenges - The company faces various risks as outlined in the management discussion and analysis section of the report[5]. - The company is exposed to risks from fluctuations in raw material prices and supply, despite having stable relationships with suppliers[116]. - The company’s main clients are concentrated in the military sector, which poses risks if it fails to maintain its competitive edge or if client procurement policies change[116]. - The company faces risks related to core competitiveness, including the need for continuous technological upgrades to meet military demands and potential industry competition[113]. Awards and Recognition - The company has received multiple awards for its technologies, including the National Science and Technology Progress Award and the Aviation Science and Technology Award[61]. - The company has received a total of 64 national and military-level technology awards, showcasing its advanced technological capabilities[56]. - The company has published 70 standards in the aviation industry, including 21 national standards, enhancing its influence in the sector[56]. Future Outlook - Future outlook includes a projected revenue growth of 10% for the next fiscal year, driven by new product launches and market expansion strategies[192]. - The company provided a future outlook, projecting a revenue growth of 20% for the next fiscal year[199]. - A new product line is expected to launch in Q3 2023, anticipated to contribute an additional 5% to overall revenue[200]. - The management emphasized the importance of strategic partnerships to leverage technological advancements and market insights[192].

2021 年第三季度报告 单位：元 币种：人民币 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 2021 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 本报告期 年初至报告期 | --- | --- | --- | --- | --- | |------------------------------------------------|----------------|------------------------------|----------------|-------------------------- ...

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2021, representing a year-on-year increase of 15%[16]. - The net profit attributable to shareholders was RMB 200 million, up 10% compared to the same period last year[16]. - The company achieved operating revenue of CNY 482.17 million in the first half of 2021, representing a 36.31% increase compared to the same period last year[25]. - Net profit attributable to shareholders reached CNY 128.17 million, up 22.02% year-on-year, with revenue growth outpacing profit growth due to increased management expenses and reduced government subsidies[26]. - Future guidance indicates a projected revenue growth of 18% for the full year 2021[16]. - The company reported a significant increase in R&D expenses due to more research tasks and higher personnel costs compared to the previous year[70]. - Operating costs increased by 30.84%, primarily due to the expansion of revenue scale[102]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by 2023[16]. - The company has no plans for major acquisitions in the near term, focusing instead on organic growth strategies[16]. - The company has established long-term partnerships with key clients and suppliers, enhancing its market competitiveness and product quality[89]. - The company is focused on expanding its market presence through innovative product development and strategic partnerships in the aerospace sector[58]. Research and Development - The company has allocated RMB 100 million for research and development in advanced aviation technologies[16]. - The company's R&D expenditure accounted for 8.87% of operating revenue, an increase of 0.28 percentage points compared to the previous year[25]. - The company has developed multiple core technologies, including internationally leading oxygen regulation technology and advanced onboard molecular sieve oxygen production technology, making it the fourth country to master such technologies after the US, UK, and France[47]. - The company has applied for 3 invention patents and 26 utility model patents during the reporting period, with 20 utility model patents granted[47]. - The company achieved a total R&D investment of ¥42,784,768.76, representing a 40.80% increase compared to the previous period's ¥30,387,708.46[69]. Technological Advancements - The onboard molecular sieve oxygen production technology has been recognized as internationally advanced and is currently in batch production[50]. - The company has achieved significant advancements in special refrigeration technology, meeting various environmental demands[47]. - The company is leading in the development of anti-vibration and shock-resistant technologies for military air conditioning systems, ensuring operational reliability in harsh environments[62]. - The company has developed a nitrogen inerting system for aircraft fuel tanks, which prevents fire and explosion by maintaining oxygen levels below combustion thresholds[59]. Environmental and Social Responsibility - The company actively participated in poverty alleviation efforts, contributing over 120,000 yuan to support rural revitalization initiatives in the first half of 2021[136]. - The company has established 29 emission outlets for air pollutants, complying with environmental impact assessment requirements[124]. - In the first half of 2021, the company invested over 1 million yuan to upgrade 4 electroplating waste gas treatment devices and 3 spray painting waste gas treatment devices[132]. Corporate Governance and Shareholder Commitments - The controlling shareholder, AVIC, and its controlled enterprise, AVIC Capital, committed to not transferring or entrusting the management of shares issued before the IPO for 36 months from the listing date[147]. - The company has ensured strict compliance with all commitments made by its shareholders and management[147]. - The commitments made by shareholders and management are aimed at maintaining market stability and investor confidence[147]. - The company will ensure compliance with information disclosure obligations related to related party transactions[175]. Future Outlook - The company aims to enhance its core competitiveness in the aviation and military refrigeration industries and expand its market share[165]. - The company plans to maintain a long-term holding of its stock, indicating confidence in business prospects[158]. - The company will prioritize cash dividends in its profit distribution policy, aiming for a minimum cash dividend ratio of 80% during mature stages without major capital expenditures[197].

2021 年第一季度报告 公司代码：688586 公司简称：江航装备 合肥江航飞机装备股份有限公司 2021 年第一季度报告 1 / 21 2021 年第一季度报告 重要提示 . 一、 二、 公司基本情况 . 11Í 重要事项 . 四、 附录 . 目录 2 / 21 2021 年第一季度报告 单位：元 币种：人民币 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 公司负责人宋祖铭、主管会计工作负责人孙军及会计机构负责人（会计主管人员）李华保证 季度报告中财务报表的真实、准确、完整。 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 | --- | --- | --- | --- | |-------------------------------------------------|------------------|----------------------|------------------ ...

Financial Performance - The company reported a profit available for distribution to shareholders of RMB 243,929,687.97 as of December 31, 2020[7]. - A cash dividend of RMB 1.5 per 10 shares (including tax) is proposed, totaling RMB 60,561,670.05, which represents 31.24% of the net profit attributable to shareholders[7]. - The total share capital of the company as of December 31, 2020, was 403,744,467 shares[7]. - The company achieved operating revenue of CNY 830,973,482.68 in 2020, representing a year-on-year increase of 23.20%[29]. - Net profit attributable to shareholders reached CNY 193,879,973.01, a significant increase of 71.31% compared to the previous year[29]. - The net cash flow from operating activities increased by 137.91% to CNY 213,081,572.61, primarily due to improved sales collection[29]. - Total assets at the end of 2020 amounted to CNY 2,987,055,769.46, reflecting a growth of 66.25% year-on-year, largely due to funds raised from the IPO[29]. - The net assets attributable to shareholders increased by 139.96% to CNY 1,930,116,195.28, driven by the IPO and continuous profit growth[29]. - Basic earnings per share rose by 51.35% to CNY 0.56, attributed to the increase in net profit[29]. Audit and Compliance - The company has received a standard unqualified audit opinion from Zhongshen Zhonghuan Accounting Firm[6]. - The company does not have any non-operating fund occupation by controlling shareholders or related parties[9]. - There are no violations of decision-making procedures regarding external guarantees[11]. - The company has no special arrangements for corporate governance[8]. Market Position and Strategy - The company’s stock is listed on the Sci-Tech Innovation Board under the stock code 688586[22]. - The company primarily engages in the aerospace equipment and special refrigeration sectors, providing products such as aviation oxygen systems and military refrigeration equipment[40]. - The company aims to expand its market presence by leveraging its brand reputation and participating in major project tenders to secure new orders[44]. - The company is focused on expanding its market presence in the aviation and special refrigeration sectors, targeting military and civilian applications, with a focus on oxygen equipment and temperature control systems[136]. Research and Development - Research and development expenses accounted for 10.40% of operating revenue, an increase of 4.71 percentage points from the previous year[29]. - The company reported a significant increase in R&D expenses, with a total of ¥86,427,090.94, representing a 125.29% increase compared to the previous year[69]. - The company applied for 121 patents during the reporting period, with 38 patents granted, bringing the total authorized patents to 528[68]. - The company has developed a complete oxygen system for civil aircraft, including aircrew and passenger oxygen systems, and is working on airworthiness certification[9]. - The company is developing a compact and lightweight oxygen system tailored for helicopters, addressing onboard oxygen generation challenges[8]. - The company is advancing research on environmentally friendly refrigerants for military air conditioning systems, ensuring safe operation under various conditions[11]. Risk Factors - The company is subject to risks as outlined in the report, which investors should pay attention to[5]. - The company’s reliance on a concentrated customer base poses risks to operational performance if relationships or demand change[96]. - Future international geopolitical changes could impact defense spending and demand for military products, affecting profitability[97]. Shareholder Commitments - The controlling shareholder AVIC and its controlled enterprise AVIC Capital committed to not transfer or entrust the management of shares held before the IPO for 36 months from the date of the company's stock listing[155]. - Other shareholders (Guoxin Capital, Haolan Eagle Strike, Jiangxi Military Industry, and Zhongbing Hongmu) committed to not transfer shares held before the IPO for 12 months from the date of the company's stock listing and for 60 months from the completion of the capital increase[156]. - Company directors and senior management committed to not transfer shares held before the IPO for 12 months from the date of the company's stock listing, with a two-year lock-up period after the lock-up expires[157]. Technological Advancements - The company has developed an advanced oxygen regulation technology for aircraft, achieving international leading status, with all products reaching the sample design stage and some in batch production[56]. - The airborne molecular sieve oxygen generation technology has been recognized with multiple national awards, including the Special Prize for Scientific and Technological Progress, and is currently in the research and batch production phase[56]. - The company has achieved significant advancements in nitrogen inerting technology, which prevents fuel tank fires and explosions by maintaining low oxygen levels[60]. Future Outlook - The company anticipates significant changes in the military aviation industry due to advancements in quantum science, artificial intelligence, and other cutting-edge technologies, which will revolutionize warfare and aviation equipment[132]. - The civil aviation sector is expected to see improvements in aircraft performance, with a focus on efficiency, safety, and cost-effectiveness over the next 20 years[132]. - The company is positioned to benefit from the "14th Five-Year Plan" period, which is expected to bring multiple industrial turning points and favorable policies for the defense industry[132].