AVIC XAC(SZ:000768)2016-03-28 16:00Dividend and Profit Distribution - The company plans to distribute a cash dividend of 1 RMB per 10 shares to all shareholders, based on a total of 2,768,645,071 shares[6]. - The board of directors has approved the profit distribution plan, which includes no bonus shares and no capital reserve conversion to share capital[6]. - The cash dividend payout ratio for 2015 is 100% of the distributable profit, which amounts to 946,024,695.21 yuan[113]. - The company will distribute cash dividends of 1 yuan per 10 shares, totaling 276,864,507.10 yuan, based on a total share capital of 2,768,645,071 shares[113]. Financial Performance - The company's operating revenue for 2015 was ¥24,115,766,248.24, representing a 13.76% increase compared to ¥21,198,084,487.00 in 2014[19]. - The net profit attributable to shareholders was ¥400,052,436.42, up 13.68% from ¥351,922,667.49 in the previous year[19]. - The cash flow from operating activities showed a significant improvement, with a net amount of ¥1,322,287,498.99, compared to a negative cash flow of ¥1,132,583,271.22 in 2014, marking a 216.75% increase[19]. - The basic earnings per share increased to ¥0.1481, an 11.69% rise from ¥0.1326 in 2014[19]. - Total assets at the end of 2015 reached ¥37,464,055,389.17, a 10.04% increase from ¥34,046,919,009.87 in 2014[19]. - The net assets attributable to shareholders grew by 27.96% to ¥15,254,110,717.07 from ¥11,920,792,407.30 in 2014[19]. - The company reported a quarterly revenue of ¥8,677,430,870.22 in Q4 2015, contributing significantly to the annual total[24]. - The net profit attributable to shareholders in Q4 2015 was ¥522,095,257.64, indicating a strong performance in the last quarter[24]. Risks and Management - The company emphasizes that forward-looking statements regarding future plans do not constitute a commitment to investors, highlighting the importance of investment risk awareness[6]. - The company has detailed potential risks and countermeasures in the management discussion and analysis section of the annual report[6]. - The company is addressing production operation risks by optimizing production management processes and establishing a real-time database for production management[107]. - The company is also focusing on inventory management risks by implementing a budget monitoring system for inventory usage[107]. Research and Development - Research and development expenses decreased by 26.78% to ¥136,486,347.24, representing 0.57% of operating revenue[66]. - The number of R&D personnel increased slightly to 2,446, but the proportion of R&D personnel decreased to 7.27%[66]. - The company plans to continue the development of key aircraft models, including the new Zhu 700 and ARJ21 aircraft[97]. - The company aims to enhance its research on international economic environment changes to adjust market competition strategies accordingly[108]. Market and Sales - The aviation industry contributed 23.02 billion yuan, accounting for 95.44% of total revenue, with a growth of 14.89% compared to the previous year[50]. - The company signed 185 aircraft intention orders with 11 customers for the new aircraft model, New Zhou 700, marking a significant step in market expansion[35]. - The company delivered 6 New Zhou series aircraft, maintaining stable operations and deliveries[40]. - The company received 281 domestic and international orders for New Zhou 60 and New Zhou 600 aircraft, with 107 aircraft delivered to 28 users across 18 countries[47]. Corporate Governance and Compliance - The company has maintained its commitment to independence, ensuring that it operates independently from its controlling shareholder since August 22, 2014[117]. - The company has successfully fulfilled its commitment to avoid competition with its controlling shareholder, as stated in the report from August 22, 2014[117]. - The company has adhered to its commitment to regulate related party transactions with its controlling shareholder since August 22, 2014[117]. - The company has ensured the safety of its financial funds as per its commitment made in 2011[117]. Shareholder Information - The largest shareholder, AVIC Group, holds 38.18% of the shares, totaling 1,057,055,754 shares, with a decrease of 4,478,050 shares during the reporting period[176]. - AVIC Investment Holding Company owns 7.59% of the shares, totaling 210,136,566 shares, with an increase of 4,020,480 shares during the reporting period[176]. - The company has 194,049 shareholders at the end of the reporting period, compared to 192,725 at the end of the previous month[176]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 12% to 11.2 billion RMB[197]. - The company aims to enhance its supply chain efficiency, targeting a 15% reduction in lead times for production[200]. - A strategic acquisition of a smaller competitor is anticipated to enhance the company's technological capabilities and is expected to close by Q3 2023[200]. - The company plans to implement cost-cutting measures aimed at reducing operational expenses by 10% over the next year[198].