AECC AEC(SZ:000738)2024-03-26 16:00Financial Performance - The company achieved an annual revenue of 5.324 billion yuan, representing a year-on-year growth of 7.74%[3] - Revenue from "two-machine" control system products reached 4.694 billion yuan, up 10.06% year-on-year; international aviation outsourcing business revenue increased by 47.04% to 349 million yuan[3] - The total profit for the year was 844.64 million yuan, a year-on-year increase of 6.31%; net profit attributable to shareholders after deducting non-recurring gains and losses was 688.36 million yuan, up 14.4%[3] - The company's operating revenue for 2023 reached CNY 5,324,045,090.72, representing a 7.74% increase compared to CNY 4,941,641,938.38 in 2022[21] - The net profit attributable to shareholders for 2023 was CNY 726,581,582.07, up 5.55% from CNY 688,396,329.57 in the previous year[21] - The net profit after deducting non-recurring gains and losses was CNY 688,364,754.80, reflecting a 14.40% increase from CNY 601,731,721.81 in 2022[21] - The total profit reached 84,464 thousand yuan, an increase of 6.31% compared to the previous year, exceeding the GDP growth rate of 5.2%[35] - The company reported a significant increase in revenue, achieving a total of 10 billion RMB for the fiscal year 2023, representing a 15% year-over-year growth[90] - The net profit attributable to shareholders was approximately 11.67 billion yuan, reflecting a decrease of 81.37% year-on-year[199] Research and Development - The company’s R&D investment was 724.92 million yuan, reflecting a year-on-year increase of 17.23%[3] - The management emphasizes the importance of innovation and plans to increase R&D efforts to strengthen its technological advantages in the aviation power control sector[5] - The company reported a total of 600 effective patents, with 121 new invention patents granted during the reporting period[32] - R&D expenditure intensity increased to 13.62%, up by 1.12 percentage points year-on-year, with total R&D investment amounting to 72,492 thousand yuan, a 17.23% increase[36] - Research and development expenses amounted to ¥171,970,933.14, a decrease of 6.92% compared to the previous year, with total R&D investment increasing by 17.23% to ¥724,920,702.90[47][50] Dividend and Shareholder Returns - The board proposed a cash dividend of 1.66 yuan per 10 shares, totaling 218.32 million yuan, which is approximately a 213% increase compared to 2022[3] - The total cash dividend amount for 2023 is 218,320,544.17 yuan, which represents 100% of the distributable profit[111] - The company reported a positive profit available for distribution to shareholders but did not propose a cash dividend distribution plan[107] Market Expansion and Strategy - The company aims to enhance its supply chain, quality assurance, and cost control systems to support research and production tasks in 2024[5] - The focus will be on optimizing the industrial structure and promoting the coordinated development of military and civilian aviation power systems[5] - The company plans to expand international cooperation and develop technology derivative industries, targeting increased market share in civil aviation outsourcing[5] - The company is actively expanding its market presence in the civil aviation sector, supported by favorable government policies[30] - The company aims to enhance its independent innovation capabilities by advancing cutting-edge power technology research and building collaborative innovation platforms with universities and research institutions[72] - The company plans to actively expand its market by promoting the coordinated development of military and civilian fuel, focusing on civil aviation and fuel control systems, and leveraging opportunities in the low-altitude economy[72] Operational Efficiency and Management - The company has established a rapid response center and implemented digital and intelligent production lines to enhance manufacturing efficiency and quality consistency[32] - The company is committed to improving operational management efficiency by integrating financial and operational metrics[71] - The company aims to optimize the entire process control of fundraising projects to enhance asset input-output efficiency and protect shareholder interests[100] - The company is focusing on expanding its management team with new appointments, including Vice General Managers and independent directors[86] Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder rights and interests[75] - The company received an A-level evaluation for its annual information disclosure work from the Shenzhen Stock Exchange, demonstrating its commitment to transparency[76] - The company has been recognized for its investor relations management, winning multiple awards for its performance explanation meetings and maintaining open communication with investors[76] - The company has implemented measures to increase the special contribution award for year-end rewards to motivate employees[107] Environmental Responsibility - The company and its subsidiaries are classified as key pollutant discharge units by environmental protection authorities[119] - By the end of 2023, the company equipped a total of 39 environmental protection facilities, including 3 wastewater treatment facilities, 6 noise control facilities, and 30 air pollution control facilities[123] - The company has not faced any penalties for violations of environmental laws and regulations in 2023[120] - China Aviation Power Control invested CNY 5.8 million in environmental protection efforts in 2023, including CNY 1.0336 million for wastewater and air pollution control facility upgrades and CNY 4.7757 million for hazardous waste disposal and monitoring[128] Employee and Talent Development - The total number of employees at the end of the reporting period was 7,228, with 1,959 retirees[105] - The company has 3,767 production staff, 2,454 technical personnel, and 112 financial staff among its total workforce[105] - The number of employees with a master's degree or above is 525, while 3,424 hold a bachelor's degree[105] - In 2023, the company completed over 6,200 training sessions, totaling more than 84,000 hours, with over 118,000 participants, averaging approximately 17 hours of training per person[108] Financial Integrity and Risk Management - The company has no significant litigation or arbitration matters during the reporting period, ensuring a stable operational environment[142] - The company has reported no violations of external guarantees during the reporting period, reflecting sound financial practices[137] - The company’s compliance and risk management systems were strengthened, focusing on integrating compliance with operational management needs[113] Future Outlook - The company provided a positive outlook for 2024, projecting a revenue growth of 20% based on new product launches and market expansion strategies[90] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[190] - The company expects a revenue growth of 10% in the upcoming fiscal year, driven by new product launches and market expansion[200]