AVIC XAC(000768) 21世纪经济报道·2025-04-02 08:23Core Viewpoint - The performance of AVIC Xi'an Aircraft Industry Group (中航西飞) is expected to grow, driven by its role as the largest structural component supplier for the C919 aircraft, with a reported revenue increase and continuous profit growth over the past two years [1][2][8]. Financial Performance - In 2024, the company achieved a revenue of 43.216 billion yuan, an increase of 2.915 billion yuan compared to the previous year, representing a year-on-year growth of 7.23% [1]. - The net profit attributable to shareholders was 1.023 billion yuan, up by 162 million yuan from the previous year, marking an 18.87% year-on-year increase [2]. Business Operations - The company has been expanding its order reserves for components of the C909 and C919 aircraft, and is participating in new bids for projects such as the Airbus Atlantic [2]. - In 2024, the aviation manufacturing sector accounted for 98.79% of total revenue, amounting to 42.695 billion yuan, while other businesses contributed 1.21%, or 52.1 million yuan [5]. - The company delivered a total of 1,267 aircraft components in 2024, including 677 for Airbus and 559 for Boeing [5]. Future Outlook - The company has set a revenue target of 44.988 billion yuan for the next fiscal year [3]. - The C919 project is entering a phase of increased delivery, with plans to ramp up production capacity from 50 to 75 aircraft annually by 2025, and a long-term goal of 200 aircraft per year by 2029 [6][7]. - The company is also focusing on the C929 aircraft project, which is currently in the detailed design phase, and is actively seeking to increase its share of tasks related to this project [9].