AECC AP(SH:600893)2025-04-01 11:35Financial Performance - The company achieved a net profit attributable to shareholders of the parent company of ¥860,291,114.25 for the fiscal year 2024[5]. - The total distributable profit for shareholders at the end of the year was ¥2,327,035,456.63, representing a 30.06% payout ratio of the net profit[5]. - The company plans to distribute a dividend of ¥0.97 per 10 shares, totaling ¥258,562,641.09[5]. - The company reported a net profit of ¥587,108,571.55 for the parent company in 2024, with an opening retained earnings of ¥2,225,132,820.32[5]. - The net profit attributable to shareholders decreased by 39.48% to CNY 860.29 million in 2024 from CNY 1.42 billion in 2023[22]. - The basic earnings per share fell by 39.62% to CNY 0.32 in 2024, down from CNY 0.53 in 2023[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 35.20% to CNY 791.63 million in 2024[22]. - The company achieved operating revenue of CNY 47.88 billion, a year-on-year increase of 9.48% compared to CNY 43.73 billion in 2023[22]. - The company's operating revenue for 2024 reached CNY 47.88 billion, completing 96.22% of the annual budget of 49.76 billion CNY[86]. - The revenue from the aviation engine and derivative products business was CNY 4,499,404.74 million, up 10.03% year-on-year[48]. Assets and Liabilities - The total assets increased by 16.15% to CNY 115.91 billion at the end of 2024, compared to CNY 99.80 billion at the end of 2023[22]. - The company's asset-liability ratio increased to 60.74%, up 4.69% from the previous year[72]. - Accounts receivable rose to ¥35,719,779,601.66, representing 30.82% of total assets, an increase of 70.59% from the previous period[68]. - Short-term borrowings increased by 131.74% to ¥19,730,588,890.96, driven by increased financing needs[68]. Research and Development - The company applied for 732 invention patents during the reporting period, all of which were invention patents, and obtained 261 authorized patents[44]. - The company’s R&D expenses rose to CNY 995,228,553.25, marking an increase of 79.82% year-on-year[49]. - The company has created 30 industry-university-research centers and 9 provincial innovation centers to enhance its technological innovation capabilities[35]. - The company is focusing on key technology research in new materials, processes, and technologies to improve product quality and manufacturing efficiency[63]. Market and Strategic Focus - The company is focusing on expanding its domestic commercial aviation engine market and exploring opportunities in the low-altitude economy sector[33]. - The company aims to enhance its research and development capabilities in aviation engines and gas turbines to meet national strategic needs[33]. - The aviation engine industry is experiencing rapid growth, with increasing market demand and technological innovation opportunities, despite facing challenges such as energy transition and supply chain integration[38]. - The company is actively optimizing its international civil aircraft business and increasing the trial production of new model components[33]. Governance and Compliance - The audit report issued by Da Xin Accounting Firm was a standard unqualified opinion[4]. - The company has not violated any decision-making procedures regarding external guarantees[8]. - The company has established an independent financial accounting system and management policies, ensuring no fund occupation or unauthorized guarantees by the controlling shareholder[99]. - The company has received multiple awards for its governance and ESG performance, including the "2024 ESG Value Transmission Award" and "2024 Outstanding Investor Relations Construction Award"[95]. Environmental Responsibility - The company invested 33.28 million yuan in environmental protection in 2024, focusing on improving equipment maintenance and management[144]. - The company achieved a 100% compliance rate for environmental impact assessments and completion inspections for new, modified, and expanded projects[146]. - The company conducted 62 emergency drills related to environmental incidents in 2024, ensuring preparedness for potential environmental risks[147]. - The company has implemented measures to ensure that noise emissions from operations comply with the Industrial Enterprise Boundary Environmental Noise Emission Standards[140]. Human Resources and Employee Welfare - The company has established a training program aligned with its "14th Five-Year" human resources development plan, aimed at improving overall employee quality and supporting high-quality development[124][125]. - The company is focusing on enhancing its compensation management system to improve employee satisfaction and performance, with a significant increase in the average salary growth rate for core talent in 2024[123]. - The total number of employees at the parent company is 6,347, while the total for major subsidiaries is 24,396, resulting in a combined total of 30,743 employees[122]. Legal and Regulatory Matters - The company has been proactive in addressing any legal disputes and has provided updates on ongoing cases[168]. - The company has not encountered any situations that would lead to delisting risks during the reporting period[167]. - The company has successfully maintained compliance with its commitments and has no non-operational fund occupation or guarantee issues reported[163]. Related Party Transactions - The company recorded significant related party transactions, with total sales to related parties amounting to approximately 2.07 billion yuan, representing 4.42% of similar transactions[172]. - The company provided services to related parties totaling approximately 80.84 million yuan, accounting for 9.20% of similar transactions[172]. - The company’s related party transactions for purchasing goods amounted to approximately 10.98 billion yuan, representing 37.26% of similar transactions[172].