AECC AEC(SZ:000738) Xin Lang Cai Jing·2025-09-12 09:36Core Viewpoint - The company is actively engaging in various business segments, including civil aviation, international cooperation, and derivative businesses, with a focus on expanding market share and enhancing brand influence amid the recovery of the aviation industry. Group 1: Civil Aviation Business - The company is a key player in the commercial aircraft supply chain, prioritizing resources to support the development and certification of commercial engines, expecting a positive impact on performance in the latter half of the 14th Five-Year Plan as domestic aircraft power systems are advanced [1] - The company aims to form a second growth curve by integrating into the large aircraft industry chain [1] Group 2: International Cooperation - The international cooperation business, which involves providing precision components for well-known foreign aviation companies, saw a revenue increase of 11.84% year-on-year in the first half of the year [1] - The company plans to seize opportunities from the recovery of international civil aviation to expand its market and enhance cooperation levels [1] Group 3: Derivative Business - In the first half of 2025, the derivative business generated revenue of 92.67 million yuan, with a slight decline due to customer demand shifts [1] - The company is adjusting its product structure and exploring new markets, such as general aviation power control, to positively impact performance [1] Group 4: General Aviation Power Business - The company is actively involved in the development of mid-to-high-end general aviation power products, with promising prospects due to low-altitude economic policies and infrastructure development [1] - The AES100 product has received production certification in collaboration with the main engine manufacturer [1] Group 5: Performance Changes - The decline in revenue and profit in the first half of 2025 is primarily attributed to the impact of tax reform policies [1] Group 6: Military Trade Business - The company is working with relevant parties to expand the foreign aviation power equipment market, with new opportunities arising from the demand for domestically developed high-performance aviation equipment [1] Group 7: Capacity Assurance - The company adheres to a "small core, large collaboration, specialization, and openness" system to strengthen internal capabilities and leverage external supply chains [1] - Current capacity is sufficient to meet production and repair tasks, with expectations for growth in the main business scale over the next 2-3 years [1] Group 8: Group Reform Progress - A new company, Wuxi Motion Control Technology Co., Ltd., has been established, with personnel transitions underway [1] Group 9: Equity Incentives - The company is implementing diverse incentive measures for key talents and exploring positive incentive mechanisms, with plans to disclose progress in accordance with regulations [1]