AECC AP(SH:600893)2016-04-21 16:00Financial Performance - The net profit attributable to the parent company for 2015 was CNY 1,033,337,928.03, with a statutory surplus reserve of CNY 52,168,528.53 deducted, resulting in a distributable profit of CNY 981,169,399.50[3] - The proposed dividend for 2015 is CNY 1.60 per 10 shares (including tax), totaling CNY 311,795,000.00, which accounts for 30.17% of the net profit attributable to the parent company[3] - The parent company's undistributed profit at the beginning of 2015 was CNY 828,094,599.27, with a net profit of CNY 521,685,285.34 for the year, leading to an ending distributable profit of CNY 1,015,047,137.33[3] - The company's operating revenue for 2015 was approximately ¥23.48 billion, a decrease of 12.27% compared to ¥26.76 billion in 2014[21] - Net profit attributable to shareholders for 2015 was approximately ¥1.03 billion, an increase of 10.34% from ¥936.49 million in 2014[21] - Basic earnings per share for 2015 was ¥0.53, reflecting a 6.00% increase from ¥0.50 in 2014[22] - The company's total assets increased by 8.28% to approximately ¥47.62 billion in 2015, up from ¥43.98 billion in 2014[21] - Cash flow from operating activities saw a significant increase of 1685.32%, reaching approximately ¥2.94 billion in 2015 compared to ¥164.65 million in 2014[21] - The weighted average return on equity decreased to 7.08% in 2015, down from 7.69% in 2014, a reduction of 0.61 percentage points[22] Business Segments - The company operates in three main business segments: aviation engines and derivatives, foreign trade export processing, and non-aviation products[32] - The company is the only domestic manufacturer of a full range of military aviation engines, including turbojet, turbofan, turboshaft, turboprop, and piston engines[32] - The company plans to gradually shift its foreign trade export processing business from a production and sales model to a comprehensive operational model[32] Revenue Breakdown - The revenue from the aviation engine and its derivative products reached CNY 16,213,908,463.97, growing by 8.21% year-on-year[40] - The company's foreign trade exports generated revenue of CNY 2,461,220,904.82, a decrease of 6.61% year-on-year[40] - The company’s non-aviation products and services revenue fell to CNY 4,253,276,019.77, a decline of 51.24% compared to the previous year[40] - Domestic revenue amounted to 20.5 billion yuan, a decrease of 13.67% year-on-year, while overseas revenue was 2.5 billion yuan, down 6.61% year-on-year[46] Research and Development - The company applied for 816 patents in 2015, including 503 invention patents and 313 utility model patents, and received 37 provincial and ministerial-level scientific achievement awards[36] - The company’s research and development expenditure was CNY 299,121,263.35, an increase of 22.38% year-on-year[42] - Total R&D investment reached approximately 299.12 million yuan, accounting for 1.27% of total revenue, with 1,361 R&D personnel representing 3.43% of the total workforce[55] Financial Stability - The asset-liability ratio improved to 61.73%, down from 64.48% in the previous year, indicating better financial stability[67] - The company reported a net increase in cash and cash equivalents of 258.44 million yuan, up 407.72% year-on-year[60] - The company’s cash flow from operating activities was CNY 2,939,587,121.72, a significant increase of 1,685.32% compared to the previous year[42] Shareholder Information - The total number of ordinary shares remained unchanged during the reporting period, totaling 1,948,718,750 shares[148] - The number of restricted shares decreased by 278,919,839 shares, representing 14.31% of the total share capital, with the listing date for these shares on July 1, 2015[150] - The largest shareholder, China Aviation, holds 267,896,117 restricted shares, which will be locked for 36 months from the end of the issuance[153] Corporate Governance - The company has a governance structure that complies with relevant laws and regulations, including internal control and risk management systems[198] - The company has revised its insider information management system to enhance the management of insider information and prevent insider trading[198] - The implementation of the insider information management system has improved legal and self-discipline awareness among stakeholders, effectively preventing insider trading and stock price manipulation[199] Future Outlook - The company expects to achieve operating revenue of 22 billion yuan in 2016, with aviation engine and derivative product revenue projected at 16.8 billion yuan, foreign trade export revenue at 2.5 billion yuan, and non-aviation products and other revenue at 2.7 billion yuan[90] - The company plans to enhance its production management system and focus on new materials, processes, and technologies to improve manufacturing and product development levels[87] - The company plans to invest 1.6 billion yuan in the construction of the Guizhou aviation engine industrial base and 410 million yuan for the application of compressor blade technology[93] Legal Matters - There were no significant litigation or arbitration matters disclosed during the reporting period[110] - The company has not reported any overdue guarantee amounts during the reporting period[143] - The company has engaged in significant litigation involving two major cases related to solar cell purchase contracts[116] Employee Information - The total number of employees in the parent company is 12,469, while the total number of employees in major subsidiaries is 28,648, resulting in a combined total of 41,117 employees[191] - The total remuneration paid to all directors, supervisors, and senior management at the end of the reporting period is 4.195 million yuan[188] - The company has implemented a comprehensive training plan focusing on enhancing employee capabilities and aligning training with corporate development needs[193]