恒天海龙：5月9日召开业绩说明会，投资者参与

Core Viewpoint - The company is actively developing its low-altitude flight operations through its subsidiary, Beijing Duofeihailong Flight Control Technology Co., Ltd, and is focusing on expanding its core business while exploring potential capital market opportunities for growth [1][2][5]. Company Progress - The company reported a revenue of 1.055 billion yuan and a net profit attributable to shareholders of 43.88 million yuan for the fiscal year 2024 [3]. - The company has made progress in its low-altitude flight products, with initial design and planning completed for a helicopter-to-drone conversion project, and installation and debugging of a vertical drone flight control system [2]. R&D and Innovation - The company has recruited R&D personnel for its projects, and despite a reduction in R&D investment, it claims that its innovation capabilities and product competitiveness remain unaffected [4]. - The company plans to expand production capacity for its main products, including high-modulus low-shrinkage dipping fabric, with new equipment expected to be operational by early 2026 [6]. Industry Outlook - The company operates in an industry closely tied to the petroleum sector, with its product cycles influenced by oil prices [7][8]. - The tire and skeleton materials industries are experiencing rapid growth, with the company noting that it will continue to adapt to market demands and focus on high-margin products to improve profitability [10]. Financial Performance - In Q1 2025, the company reported a main revenue of 262 million yuan, a year-on-year decrease of 5.12%, while net profit increased by 24.79% to 13.03 million yuan [9]. - The company's gross margin for 2024 was reported at 66%, and it aims to enhance this through capacity expansion and optimizing product and sales structures [10].