AVIC XAC(SZ:000768)2018-06-07 16:00Financial Performance - The company's operating revenue for 2017 was ¥31,079,046,938.34, representing an increase of 18.98% compared to ¥26,121,848,838.62 in 2016[20]. - The net profit attributable to shareholders for 2017 was ¥471,401,712.83, up 14.10% from ¥413,133,366.70 in 2016[20]. - The net cash flow from operating activities decreased by 7.89% to ¥1,309,600,021.02 in 2017 from ¥1,421,729,029.81 in 2016[20]. - The basic earnings per share for 2017 was ¥0.1703, a 14.14% increase from ¥0.1492 in 2016[20]. - Total assets at the end of 2017 were ¥40,738,764,248.43, reflecting a 3.88% increase from ¥39,216,834,996.94 at the end of 2016[20]. - The company reported a total of ¥136,109,276.92 in non-recurring gains and losses for 2017, compared to ¥124,795,543.29 in 2016[25]. - The company's total operating costs in 2017 were ¥28,763,776,115.54, which is a 19.25% increase from ¥24,120,212,407.30 in 2016[62]. - The company's financial expenses increased by 218.61% to ¥49,511,082.33 due to a decrease in exchange gains compared to the previous year[71]. Dividend Distribution - The company plans to distribute a cash dividend of 0.85 RMB per 10 shares to all shareholders, based on a total of 2,768,645,071 shares[7]. - The profit distribution plan for 2017 includes a cash dividend of 0.85 yuan per 10 shares, totaling 235,334,831.04 yuan, which represents 49.92% of the net profit attributable to shareholders[120][124]. - The cash dividend for 2016 was 0.50 yuan per 10 shares, totaling 138,432,253.55 yuan, which was 33.51% of the net profit attributable to shareholders[121][124]. - The company will not issue bonus shares or increase capital reserves in the profit distribution plan for 2017[126]. Business Operations - The main business operations include the design, testing, production, and sales of aircraft and aviation components, as well as related technical services[18]. - The company primarily engages in the research, production, and sales of aviation products, including large and medium-sized aircraft and components[29]. - The company’s main business has evolved over the years to include aircraft leasing and related service guarantees[18]. - The company has a diverse product range, including aircraft parts, transportation equipment, and construction materials, leveraging its technological expertise[32][33]. Research and Development - Research and development expenses increased by 85.41% to ¥815,198,817.97 in 2017, representing 2.62% of operating revenue, up from 1.68% in 2016[73]. - The number of R&D personnel increased to 2,853, representing 8.63% of the total workforce, up from 8.17% in 2016[73]. - R&D investment increased significantly due to the new turboprop aircraft development project[74]. - The capitalization rate of R&D investment rose as the amount capitalized for the new turboprop aircraft project increased[75]. Risk Management - The company emphasizes that forward-looking statements regarding future prospects and plans do not constitute a substantive commitment to investors, highlighting the importance of investment risk awareness[7]. - The company has detailed descriptions of potential risks and countermeasures in the section discussing future development prospects in the annual report[7]. - The company is facing macroeconomic risks that could impact product sales and delivery timelines, and it plans to adjust market strategies accordingly[113]. Corporate Governance - The actual controller, shareholders, and related parties of the company have fulfilled their commitments during the reporting period, with ongoing commitments related to share reduction and avoiding competition[127]. - The company has committed to ensuring the safety of its financial funds, with commitments dating back to 2011 and still in progress[128]. - The commitment to avoid competition and regulate related transactions has been ongoing since 2010, indicating a long-term strategy to maintain market integrity[128]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period, indicating a stable financial environment[130]. Environmental Responsibility - The company has built 7 industrial wastewater treatment stations with a designed capacity of 262 tons/hour and 1 comprehensive wastewater treatment station with a capacity of 8000 tons/day, both operating normally[178]. - The company has implemented pollution control facilities for its 339 and 660 boiler rooms, effectively treating particulate matter, sulfur dioxide, and nitrogen oxides, with all emissions meeting standards[180]. - The company has established dedicated storage facilities for hazardous waste, complying with national storage requirements[181]. - The company completed the environmental protection acceptance of the "12th Five-Year Plan for Energy Conservation and Emission Reduction" project in 2017, fulfilling all related environmental work requirements[183]. Shareholder Information - The company has a total share capital of 2,768,645,071 shares as of December 31, 2017[120][126]. - China Aviation Industry Group holds 38.18% of the shares, amounting to 1,057,055,754 shares[200]. - The second largest shareholder, AVIC Investment Holdings Co., Ltd., owns 7.59% of the shares, totaling 210,136,566 shares, with 50,000,000 shares pledged[200]. - The total number of ordinary shares at the end of the reporting period was 168,567, with the total number of shareholders being 172,351[200].