AVICOPTER(SH:600038)2025-03-28 13:10Profit Distribution and Financial Performance - The proposed profit distribution plan for 2024 includes a cash dividend of 2.04 RMB per 10 shares, totaling 167,258,215.45 RMB, which accounts for 30.09% of the net profit attributable to ordinary shareholders [6]. - The company has a total share capital of 819,893,213 shares as of December 31, 2024, which will be the basis for the profit distribution [6]. - The company has maintained a consistent approach to profit distribution, with adjustments made if total share capital changes before the distribution date [6]. - The company achieved operating revenue of CNY 29,765,640,318.86 in 2024, representing an increase of 11.93% compared to CNY 26,592,446,105.19 in 2023 [24]. - Net profit attributable to shareholders decreased by 7.98% to CNY 555,872,554.15 in 2024 from CNY 604,058,464.41 in 2023 [24]. - The basic earnings per share (EPS) for 2024 was CNY 0.7234, down 12.39% from CNY 0.8257 in 2023 [23]. - The company reported a net cash flow from operating activities of CNY 2,567,771,942.27, a significant recovery from a negative cash flow of CNY -6,361,415,690.46 in 2023 [24]. - The weighted average return on equity (ROE) decreased to 4.14% in 2024 from 5.11% in 2023, a decline of 0.97 percentage points [23]. - The net profit after deducting non-recurring gains and losses increased by 19.68% to CNY 481,940,802.20 in 2024 from CNY 402,704,615.31 in 2023 [24]. Audit and Compliance - The company has received a standard unqualified audit report from Da Xin Accounting Firm [5]. - The company’s financial report is guaranteed to be true, accurate, and complete by its responsible persons [5]. - The company has confirmed that there are no issues with the majority of directors ensuring the authenticity and completeness of the annual report [10]. - The company has not reported any changes in competitive conditions that would affect its operations [89]. - The company has not engaged in any significant related party transactions that could compromise its independence [89]. - The company has not reported any changes in shareholding for its directors and senior management during the reporting period [93]. - The company has not faced any major litigation or arbitration matters during the reporting period [158]. - There were no significant violations or penalties involving the company or its major stakeholders during the reporting period [159]. Research and Development - Research and development expenses for 2024 were CNY 120,678.94 million, a decrease of 18.28% compared to CNY 147,670.77 million in 2023 [34]. - The company has a total of 3,205 R&D personnel, accounting for 23.00% of the total workforce [59]. - The company achieved breakthroughs in 16 key technologies for the C919 project, enhancing its production capacity [40]. - The company is enhancing its technological innovation and manufacturing capabilities to meet the growing demand for helicopters and related technologies [77]. Environmental Responsibility - The company invested approximately 26 million RMB in environmental protection during the reporting period [127]. - The industrial wastewater discharge compliance rate was 100%, and the industrial waste gas discharge compliance rate was also 100% [128]. - The company achieved a 100% disposal rate for industrial solid waste, ensuring all hazardous waste is handled by qualified disposal units [130]. - The company has established a comprehensive environmental monitoring plan, completing monitoring at 113 air emission points and 5 wastewater points during the reporting period [135]. - The company reduced carbon dioxide equivalent emissions by 12,314.69 tons through clean technology research and application [141]. - The company plans to reduce carbon emissions per unit of output by no less than 8% by 2024, achieving an 8.84% reduction compared to 2022 [141]. Governance and Management - The company has a diverse leadership team with extensive experience in the aviation industry, including roles in major aviation corporations and government entities [96]. - The company is focused on enhancing its governance structure amid ongoing asset restructuring efforts [94]. - The governance structure is designed to ensure equal rights for all shareholders, particularly minority shareholders [86]. - The company has implemented strict measures to maintain independence from its actual controller and controlling shareholder, with independent accounting and responsibility [89]. - The company has a structured approach to appointing and electing board members, ensuring compliance with governance standards [102]. Market Expansion and Strategic Initiatives - The company is actively expanding its helicopter market, focusing on emergency rescue, police aviation, and public service sectors [40]. - The company plans to enhance profitability through market-oriented mechanisms and deepen strategic cooperation with leading domestic aviation companies [80]. - The company aims to become a world-class helicopter enterprise with a focus on product excellence, brand recognition, and innovation leadership [78]. - The company plans to issue additional shares at a price of 35.92 RMB per share on March 19, 2024, and at 33.98 RMB per share on July 25, 2024 [192]. Social Responsibility - The company allocated CNY 1.3506 million for social responsibility projects, including donations to rescue foundations [142]. - The company conducted 24 volunteer service activities, with nearly 500 participants, showcasing its commitment to social responsibility [143]. - The company’s commitment to social responsibility is evident through its active participation in community service and charitable donations [143]. - The company actively promoted the "Chinese Dream, Aviation Dream" theme through 100 aviation science popularization activities in schools [144].