AVICOPTER(SH:600038)2020-03-30 16:00Financial Performance - The company's operating revenue for 2019 was approximately ¥15.80 billion, representing a year-on-year increase of 20.89% compared to ¥13.07 billion in 2018[14]. - The net profit attributable to shareholders for 2019 was approximately ¥588.22 million, an increase of 15.26% from ¥510.33 million in 2018[14]. - The total assets of the company at the end of 2019 were approximately ¥26.33 billion, reflecting a year-on-year growth of 9.55% from ¥24.04 billion in 2018[14]. - The net assets attributable to shareholders increased by 5.92% to approximately ¥8.17 billion at the end of 2019, compared to ¥7.72 billion at the end of 2018[14]. - The basic earnings per share for 2019 were ¥0.9979, up 15.27% from ¥0.8657 in 2018[15]. - The diluted earnings per share also stood at ¥0.9979, marking a 15.27% increase from the previous year[15]. - The weighted average return on net assets for 2019 was 7.40%, an increase of 0.57 percentage points from 6.83% in 2018[15]. - The company achieved a total operating revenue of CNY 1,579,517.42 million in 2019, representing a year-on-year increase of 20.89% compared to CNY 1,306,551.36 million in the previous year[22]. - The net profit for the year was CNY 58,830.85 million, reflecting a year-on-year growth of 15.28%[24]. - The net profit attributable to shareholders of the parent company was CNY 58,821.56 million, an increase of 15.26% year-on-year[24]. Cash Flow and Financial Position - The net cash flow from operating activities decreased by 19.34% to approximately ¥770.05 million in 2019, down from ¥954.66 million in 2018[14]. - The company reported a net cash flow from financing activities of ¥7,119,265.83, a significant recovery from a negative cash flow of ¥143,460,923.08 in the previous year[25]. - The company's cash and cash equivalents increased by 2.82% to ¥433,724.87 million at the end of the year, up from ¥421,815.37 million at the beginning of the year[33]. - Cash and cash equivalents at the end of the period amounted to ¥4,337,248,665.47, representing 16.47% of total assets, an increase of 2.82% compared to the previous period[36]. - The company reported a net cash flow from operating activities for 2019 of ¥770,050,243.90, a decrease of 19.3% compared to ¥954,662,237.23 in 2018[141]. - Total cash inflow from operating activities was ¥17,534,220,309.79, up 20.1% from ¥14,541,030,412.72 in 2018[141]. - Cash outflow for purchasing goods and services increased to ¥13,027,311,657.66, representing a 42.5% rise from ¥9,162,504,405.33 in 2018[141]. - The ending balance of cash and cash equivalents increased to ¥3,609,476,620.71 from ¥2,921,801,341.20 in 2018, marking a 23.6% growth[141]. Research and Development - The company reported a significant increase in R&D expenses, totaling CNY 47,686.24 million, which is a 55.75% increase year-on-year due to higher investment in R&D projects[23]. - The company’s total R&D expenditure accounted for 3.02% of its operating revenue, with 2,544 R&D personnel representing 21.53% of the total workforce[32]. - Research and development expenses increased significantly by 55.75% to ¥476,862,446.54, up from ¥306,162,603.85 in the previous year[25]. - The company aims to enhance its R&D and manufacturing capabilities to narrow the gap with international helicopter manufacturers[46]. - The company is focusing on the development of new helicopter models and improvements to existing models, with ongoing test flights and certifications planned[49]. Market Expansion and Strategy - The company actively expanded its market presence, particularly in emergency rescue, drone markets, and foreign trade, leading to steady sales growth[21]. - The company is positioned to benefit from the growing general aviation market, with significant government support and investment opportunities emerging[40]. - The company is actively exploring new market opportunities, including partnerships with local governments for emergency rescue systems and expanding international market sales[49]. - The company plans to enhance its market presence and invest in new technologies to drive future growth[137]. - The company is focusing on expanding its market presence in international markets, targeting a growth rate of DD% in overseas sales[102]. Shareholder and Equity Information - The company plans to distribute a cash dividend of ¥3.00 per 10 shares, totaling approximately ¥176.84 million[4]. - The top five customers contributed ¥1,436,424.00 million, accounting for 92.06% of total annual sales, with related party sales making up 88.52%[30]. - The total number of ordinary shareholders decreased from 32,895 to 26,667 during the reporting period[83]. - The top shareholder, Harbin Aircraft Industry (Group) Co., Ltd., holds 166,270,802 shares, representing 28.21% of the total shares[84]. - The actual controller of the company is China Aviation Industry Corporation, which holds a controlling stake of 56.04%[90]. Compliance and Governance - The company has maintained a trustworthy status with no incidents of legal violations or dishonesty reported during the period[60]. - The company has not encountered any risks of suspension or termination of its listing during the reporting period[59]. - The company has established a comprehensive governance structure that aligns with the requirements of the Company Law and Securities Law[111]. - The board of directors consists of nine members, including three independent directors, ensuring compliance with governance standards[111]. - The internal control self-assessment report confirmed no significant deficiencies in financial reporting controls as of December 31, 2019[120]. Environmental Responsibility - The company has implemented strict compliance with national and local environmental laws and regulations, ensuring no exceedance of pollutant discharge standards[74]. - The company upgraded its wastewater treatment capabilities, increasing chromium wastewater treatment capacity from 2 tons/hour to 8 tons/hour, and nickel wastewater treatment capacity from 2 tons/hour to 7 tons/hour, reducing treatment costs by over 60%[75]. - The company generated 904.94 tons of hazardous waste, with 100% disposed of by qualified units, and recycled 1,354.11 tons of scrap metal in 2019[75]. - The company installed online monitoring for COD, ammonia nitrogen, and pH at all sewage discharge outlets, with 24-hour data uploaded to the provincial environmental protection platform[75]. - The company has established an emergency response plan for environmental incidents and conducted drills to enhance management capabilities[77]. Employee and Talent Management - The total number of employees in the parent company and major subsidiaries is 11,815, with 6,667 in production, 175 in sales, and 2,544 in technology[106]. - The company emphasizes employee welfare, health, and satisfaction as part of its talent strategy[73]. - The company implements a salary policy combining base salary and performance-based pay, with adjustments made according to actual conditions[108]. - The educational background of employees includes 4 with doctoral degrees, 369 with master's degrees, and 3,917 with bachelor's degrees[107]. - The company emphasizes training in management, research, production, marketing, and service, focusing on enhancing skills and innovation[109].