AECC AP(SH:600893)2018-03-29 16:00Financial Performance - The company achieved a net profit attributable to shareholders of the parent company of ¥959,994,252.08 for the year 2017, with a profit distribution amounting to ¥289,438,267.00, representing 30.15% of the net profit[5]. - The total distributable profit for the parent company at the end of 2017 was ¥1,380,863,018.07, after accounting for the net profit of ¥518,615,450.36 and statutory surplus reserves[5]. - The company's operating revenue for 2017 was approximately CNY 22.56 billion, representing a year-on-year increase of 1.52% compared to CNY 22.22 billion in 2016[22]. - Net profit attributable to shareholders of the listed company increased by 7.78% year-on-year to approximately CNY 960 million, up from CNY 891 million in 2016[24]. - The net cash flow from operating activities saw a significant increase of 150.55%, reaching approximately CNY 973 million, compared to a negative cash flow of CNY 1.92 billion in 2016[24]. - The total assets at the end of 2017 were approximately CNY 51.69 billion, an increase of 4.74% from CNY 49.35 billion at the end of 2016[22]. - The company's net assets attributable to shareholders increased by 65.21% year-on-year to approximately CNY 25.79 billion, up from CNY 15.61 billion in 2016[22]. - Basic earnings per share for 2017 were CNY 0.47, a 2.17% increase from CNY 0.46 in 2016[23]. - The weighted average return on equity decreased by 0.58 percentage points to 5.24% in 2017, down from 5.82% in 2016[23]. - The total share capital at the end of 2017 increased by 15.45% to 2.25 billion shares, compared to 1.95 billion shares at the end of 2016[22]. Revenue Breakdown - The company achieved operating revenue of ¥22,555,003,098.06, representing a year-on-year growth of 1.52%[42]. - Main business revenue reached ¥22,290,012,235.06, with a year-on-year increase of 3.47%[42]. - The revenue from the aviation engine and derivative products was ¥18,949,319,037.86, up 7.46% year-on-year[42]. - The company's main business segment, aviation engines and related products, generated revenue of CNY 1,051,660.39 million, up 15.27% year-on-year[89]. - The manufacturing sector generated revenue of CNY 21,614.20 million, a year-on-year increase of 5.76%[48]. Costs and Expenses - The company’s main business cost rose by 4.15% to ¥1,807,144.18 million[46]. - Research and development expenditure increased by 27.17% to ¥419,652,617.62[45]. - Sales expenses increased by 15.69% to CNY 253.51 million compared to the previous year[58]. - The company’s financial expenses decreased by 10.25% to CNY 737.16 million, attributed to new government subsidy accounting standards[58]. Cash Flow and Financing - The net cash flow from operating activities was 972.59 million RMB, an increase of 150.55% compared to the previous year, primarily due to increased cash receipts from military product payments and advance payments[66]. - The total cash and cash equivalents increased by 720.91 million RMB, a growth of 123.51% compared to the previous year, driven by improved operating cash flow[66]. - The company reported a net cash flow from financing activities of 1,479.84 million RMB, an increase of 51.79% year-on-year, mainly due to increased capital raised and government infrastructure funding[66]. Shareholder Information - The proposed dividend for 2017 is ¥1.29 per 10 shares (including tax), which is 20.96% of the year-end distributable profit of the parent company[5]. - The company distributed a cash dividend of 1.38 RMB per 10 shares, totaling 268,923,187.50 RMB, which accounts for 30.17% of the net profit attributable to the parent company[108]. - The total number of shares increased from 1,948,718,750 to 2,249,844,450 after a private placement of 301,125,700 shares[172]. Legal and Compliance Issues - The company is involved in a significant lawsuit regarding a debt dispute with a logistics company, with a claim amount of 84.46 million RMB[123]. - The company is currently involved in multiple legal disputes that may impact its financial position and cash flow[127][128]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[8]. Strategic Initiatives - The company plans to enhance its independent innovation capabilities by strengthening strategic cooperation with industry research institutes and improving its manufacturing system[76]. - The company aims to improve its foreign trade export subcontracting business by cultivating core manufacturing technologies and expanding market development efforts[104]. - The company is focusing on expanding its presence in high-value-added business areas in both domestic and international markets despite facing competition[75]. Social Responsibility - The company has outlined its social responsibility efforts, particularly in poverty alleviation, as part of its annual report[152]. - Total funding for targeted poverty alleviation amounted to RMB 123.16 million, with 495 registered impoverished individuals lifted out of poverty[153]. Environmental Management - The company has established an environmental management system in line with international standards, achieving re-certification in 2015[157]. - The company is classified as a key pollutant discharge unit, with an annual hazardous waste production of approximately 2,000 tons[158].