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]

Group 1: Company Overview - CITIC Offshore Helicopter Co., Ltd. is involved in providing offshore helicopter services [1] - The company has a focus on maintenance services for military clients [1] Group 2: Investor Relations Activity - The investor relations activity took place on January 20, 2016, in Shenzhen [1] - Participants included representatives from Yinhua Fund [1] Group 3: Key Questions and Answers - The company collaborates with Daewoo in Myanmar through project bidding [1] - Major global players in general aviation include Bristol in the UK and CHC in Canada [1] - The primary helicopter manufacturers for offshore oil operations in China are Airbus Helicopters and Sikorsky [1] - The maintenance company has the capability to service engines up to Level 1-2 qualifications [1] - The engines used in the company's helicopters are primarily from Turbomeca [1] - The company currently does not have fixed-wing operations [1] - The maintenance business is expected to grow due to increasing capabilities and expanding projects [1] - Each maintenance company specializes in certain helicopter models, with a leading position in servicing Airbus helicopters domestically [1]

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]

编号：012 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 | --- | --- | --- | |-----------------------------------------------|-------------------------|------------------------------------------------------------------------| | 投资者关系活动类别 | ■ \n□ \n□ □ 现场参观 | 特定对象调研 □分析师会议 \n媒体采访 □业绩说明会 \n新闻发布会 □路演活动 | | | | □其他 （请文字说明其他活动内容） | | 参与单位名称及人员姓名 | | 国金证券 苏宝亮；银华基金 王晓川 | | 时间 | 2016 年 8 月 23 | 日星期二下午 | | 地点 | 深圳南山区南海大道 室 | 3533 号直升机场 公司董事会秘书办公 | | 上市公司接待人员姓名 投资者关系活动主要内容 | 1. | 董事会秘书徐树田、董事会办公室洪璐 问：公司成立了通航公司，对吗？ | 1 / 2 ...

Group 1: Financial Performance and Business Operations - The company's revenue data from the first quarter may not accurately predict the full-year performance due to the service price continuity from the previous year [2] - The operational volume for offshore oil helicopter services has decreased significantly in the first quarter [2] - The pricing model for offshore oil services is based on a combination of "monthly rent + hourly fee" [2] - The company recognizes the limitations of its core offshore oil business and is diversifying into land aviation, maintenance, and training sectors [2] Group 2: Market Potential and Strategic Development - Land aviation and maintenance are identified as promising markets for future growth [2] - The company supports the development of domestic helicopters and has signed a strategic cooperation agreement with AVIC [4] - Currently, out of 57 helicopters operated by the company, only 4 are domestic models [4] - The utilization rate of the company's helicopters is high, averaging about 3 hours per day for offshore oil services [4] Group 3: Challenges and Industry Factors - The development of the general aviation industry is constrained by factors such as airspace restrictions, insufficient general airports, and a lack of qualified personnel [4] - The company is actively monitoring exchange rate fluctuations to mitigate foreign exchange losses, expecting a reduction in losses compared to 2015 [5] - The establishment of a general aviation college is underway in collaboration with the Civil Aviation Management Institute of China [5]