证券代码：000099 证券简称：中信海直 编号： 中信海洋直升机股份有限公司投资者关系活动记录表 | --- | --- | --- | |-----------------------------|------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Group 1: Company Overview - The company is characterized by heavy assets and low debt levels, which is typical for aviation enterprises [3] - The current debt ratio of the company is relatively low compared to industry standards [3] Group 2: Business Operations - The company operates the Shenzhen heliport under a usage agreement with the controlling shareholder, paying annual rent [2] - The revenue model for offshore oil business includes monthly rent plus hourly fees [3] Group 3: Market Challenges - The aviation tourism market is difficult to cultivate due to high costs associated with helicopter purchase and maintenance [2] - There is a significant gap in performance between domestic helicopters and those imported from abroad [2] Group 4: Training and Certification - The training duration for obtaining a private pilot license varies from 4-6 months to over a year, depending on individual qualifications [2] - Currently, the company does not offer private pilot training services [3] Group 5: Financial Performance - The company's net profit has significantly declined this year due to a substantial drop in offshore oil business revenue, while costs remain relatively fixed [3]

Group 1: Company Operations - The company operates a total of 71 helicopters [2] - The company owns 42 helicopters [4] - The company has 197 pilots [4] - The company recorded approximately 32,000 flight hours in 2015 [4] Group 2: Revenue and Business Model - The main revenue source is currently from offshore oil business, which constitutes a significant portion of total income [2] - The revenue model for offshore oil business includes monthly rent plus hourly fees [4] - The company has not engaged in equity incentives [4] Group 3: Costs and Financing - Major costs for the company include depreciation, aircraft repair, and labor [4] - The company issued convertible bonds worth 650 million yuan in 2012 and has no recent financing plans [4] - Significant costs in airport construction are land costs and construction costs [5] Group 4: Market and Competition - The company’s use of helicopters, whether domestic or foreign, is primarily determined by customer demand [4] - The company has not faced issues with foreign helicopter manufacturers regarding technology confidentiality [4] Group 5: Infrastructure and Equipment - The company’s helicopter airport is primarily equipped with domestic air traffic control equipment [4] - The scale of bases in Tianjin, Zhanjiang, and Hainan is smaller compared to the Shenzhen base [2]

Group 1: Company Overview - The company operates the largest fleet of helicopters in the domestic market [2] - There are currently no policy restrictions on private aviation consumption, but the market has not yet formed [2] Group 2: Competition and Market Potential - The company faces competition in each of its specific industry segments [2] - There is significant growth potential in the pilot training market due to a large shortage of pilots in the country [2] Group 3: Financial Insights - The gross margin for the training business is not expected to be very high [2] - The company has converted some long-term, high-interest foreign currency loans to RMB, minimizing the impact of RMB depreciation on operations [2] Group 4: Cost Management - The company has implemented cost control measures, such as reducing aircraft insurance fees and significantly cutting management costs [2] - Major costs for the company include depreciation, aircraft repair, and labor costs [2] Group 5: Safety Record - The company has maintained strict aviation safety management and has achieved 16 consecutive years of safe flight [4]

编号：006 证券代码：000099 证券简称：中信海直 中信海洋直升机股份有限公司投资者关系活动记录表 | --- | --- | --- | |-----------------------------|-------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Group 1: Business Overview - The company's offshore business accounts for approximately 80% of its revenue, significantly impacted by international oil prices [2] - The land-based aviation business, including aerial photography and power line patrols, contributes around 15% to revenue, while maintenance services account for about 5% [2] - Currently, the company operates 70 aircraft, including owned, leased, and managed helicopters [4] Group 2: Market Challenges - The ongoing low international oil prices have pressured major clients, leading to reduced helicopter service prices and operating hours [5] - The business cycle for signing contracts is typically annual, with 2016 contract prices still under negotiation due to market changes [5] Group 3: Training and Development - The initial cost to train a pilot is approximately 800,000 RMB, with an additional 5 to 6 years required to become a captain [4] - The company is in the process of establishing a civil aviation training academy in collaboration with the Civil Aviation Management Institute, pending approval [5] Group 4: Future Outlook - The company sees potential growth in the aviation industry, particularly in offshore oil services, forestry protection, and government demand for services [6] - There is optimism regarding the low-altitude sector's reform, which could lead to new growth opportunities if infrastructure supports it [6]

Group 1: Company Operations - The training flight hours refer to the internal training of company pilots, not the training business hours [2] - The number of aircraft for offshore oil operations is not fixed in contracts but determined by actual conditions [2] - The revenue from offshore oil operations is over 95% from CNOOC [2] Group 2: Financial Impact - The company is not significantly affected by a substantial depreciation of the RMB, as most foreign currency long-term borrowings were converted last year [2] - The service prices for offshore oil operations remain unchanged from the previous year [2] Group 3: Aviation Academy - The establishment of the Civil Aviation General Aviation Academy is in progress and currently awaiting approval from relevant departments [2] - The academy will be open to the public, not limited to aviation companies [2] - The status of the academy as a subsidiary or holding company is still under discussion with partners [4] Group 4: Industry Insights - Pilots in the general aviation industry are considered scarce talents [4]

证券代码：000099 证券简称：中信海直 中信海洋直升机股份有限公司投资者关系活动记录表 编号：003 | --- | --- | --- | |-----------------------------|----------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

证券代码：000099 证券简称：中信海直 编号：002 中信海洋直升机股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------------------------------------------------|----------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Group 1: Financial Performance and Challenges - The company anticipates a certain exchange loss in 2016 if the RMB continues to depreciate, similar to 2015 [2] - In 2015, the company changed the currency of four long-term, high-interest foreign loans to RMB to mitigate exchange rate fluctuations, with minimal impact on operations [2] - The company is actively exploring measures to reduce exchange losses [2] Group 2: Operational Capacity and Fleet - The company currently operates 55 helicopters and has one helicopter yet to be delivered [2] - The large helicopters operated by the company can accommodate 19 passengers [2] Group 3: Market Strategy and Business Development - The company is facing operational pressure due to declining offshore market conditions caused by falling global oil prices [2] - To alleviate operational pressure, the company has acquired three Ka32 helicopters to expand its aerial forest protection business and is actively pursuing overseas market opportunities, including a recent agreement with Daewoo for helicopter services in Myanmar [2] - The company does not currently engage in agricultural or tourism businesses, focusing instead on aerial forest protection, power line inspection, and aircraft management [2] Group 4: Industry Requirements and Future Plans - The offshore flying business has stringent requirements regarding helicopter types, pilot qualifications, and safety management systems [3] - The company plans to continue comprehensive development within the general aviation industry chain without considering a shift to other industries at this time [3]