AECC AST(SH:600391)2017-03-31 16:00Financial Performance - The company's operating revenue for 2016 was CNY 2,125,837,007.37, representing a 4.83% increase compared to CNY 2,027,966,346.38 in 2015[21]. - The net profit attributable to shareholders for 2016 was CNY 42,549,950.56, a 34.54% increase from CNY 31,625,473.42 in 2015[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 32,393,008.80, up 20.59% from CNY 26,861,815.44 in 2015[21]. - Basic earnings per share increased by 30% to CNY 0.13 compared to CNY 0.10 in the previous year[22]. - Diluted earnings per share also rose by 30% to CNY 0.13 from CNY 0.10 year-on-year[22]. - The total profit for the year was 66.57 million RMB, an increase of 40% compared to the previous year, while the net profit attributable to shareholders rose by 35% to 42.55 million RMB[38]. - The company achieved a total revenue of 2.13 billion RMB in 2016, representing a year-on-year growth of 5%[38]. - The company reported a significant increase in revenue, achieving a total of $1.2 billion, representing a 15% year-over-year growth[117]. Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 110,249,868.75, compared to negative CNY 22,106,726.95 in 2015[21]. - The company reported a net cash flow from operating activities of CNY -86,003,314.09 in Q4, indicating challenges in cash generation[24]. - The cash received from sales of goods and services was 1,830,905,595.22 yuan, a decrease of 12.55% from the previous year[52]. - The company faces a liquidity risk with a current ratio and quick ratio that are relatively low, as inventory and receivables account for 55% of total assets, increasing by 3 percentage points compared to the beginning of the year[66]. - The company reported a cash flow from financing activities showing a net increase of 308,963,963.34 yuan, up 55.86% year-over-year[52]. Assets and Liabilities - Total assets at the end of 2016 were CNY 5,658,643,021.84, a 12.85% increase from CNY 5,014,372,856.52 at the end of 2015[21]. - The company's total liabilities reached CNY 3,608,364,607.94, compared to CNY 3,008,820,375.27 at the beginning of the year, marking an increase of around 19.9%[147]. - The company's accounts receivable increased by 17.97% to 801,606,723.87, representing 14.17% of total assets[54]. - The company's inventory increased significantly to CNY 2,245,821,625.73 from CNY 1,784,614,401.87, representing a growth of approximately 25.8%[146]. - The company's short-term borrowings decreased by 22.04% to 429,830,415.24, which is 7.60% of total liabilities[54]. Research and Development - Research and development expenses increased by 17.18% to 104.4 million RMB, indicating a commitment to innovation[41]. - The total R&D expenditure amounted to 104,402,287.18 yuan, representing 4.91% of total operating revenue[50]. - The company is focusing on enhancing its high-end bearing manufacturing capabilities through its subsidiary China Aviation Engine Ha Axis, which has shown steady revenue and profit growth[58]. Strategic Initiatives - The company plans to reinvest profits into production and R&D, opting not to distribute cash dividends for 2017[4]. - The company will focus on expanding production capacity and enhancing R&D efforts in the upcoming year[4]. - The company plans to focus on enhancing production capabilities for domestic aviation and derivative products in response to national strategic needs[31]. - The company is strategically positioned to collaborate with world-class suppliers, leveraging high industry barriers to maintain a competitive advantage[34]. - The company aims to optimize and upgrade foreign trade products by leveraging a subcontracting production platform to enhance technology and management capabilities[62]. Shareholder Information - The total number of common stock shareholders at the end of the reporting period was 47,846, a decrease from 47,951 at the end of the previous month[99]. - Chengdu Engine Group Co., Ltd. held 118,907,305 shares, representing 36.02% of total shares, making it the largest shareholder[103]. - The controlling shareholder is China Aviation Engine Corporation, which was renamed from Chengdu Engine Group Co., Ltd. on March 15, 2017[104]. Compliance and Governance - The company has not faced any risks of suspension or termination of its listing during the reporting period[79]. - The company has not reported any violations of insider trading regulations during the reporting period[133]. - The company has implemented effective internal control measures as per the audit report, ensuring the financial statements are free from material misstatements[144]. Environmental and Social Responsibility - The company maintained a 100% compliance rate for hazardous waste disposal and achieved 100% standard discharge of pollutants[94]. - A total of 4254 items of donated materials and 14330.2 yuan in donations were collected for poverty alleviation efforts in 2016[88]. - The company achieved zero deaths, zero serious injuries, and zero new occupational diseases in 2016[87]. Employee Information - The total number of employees in the parent company is 4,090, and in major subsidiaries, it is 1,185, resulting in a total of 5,275 employees[126]. - The professional composition includes 3,244 production personnel, 71 sales personnel, 1,078 technical personnel, 108 financial personnel, and 774 administrative personnel[126]. - The company has established a training management regulation, allocating 2.5% of the annual salary total for employee training, with 500 training sessions held and 18,430 participants in 2016[129].