Core Viewpoint - The company, AVIC Chengfei, has achieved significant growth in its financial performance following a major asset restructuring, indicating a leap in its comprehensive strength and profitability, thereby creating value for shareholders [1][2]. Financial Performance - The company forecasts a net profit attributable to shareholders of 3.4 billion to 3.6 billion yuan for 2025, representing an increase of over 2927.37% compared to pre-restructuring data and over 5.47% compared to post-restructuring adjusted data [1]. - In the first three quarters of 2025, the company achieved a cumulative operating revenue of 48.286 billion yuan, a nearly 40-fold increase year-on-year, and a net profit of 2.169 billion yuan, a nearly 20-fold increase year-on-year [2]. - The return on equity rose from 4.19% to 11.08%, an increase of 164%, and earnings per share (EPS) also saw a significant rise, reflecting enhanced profitability and shareholder returns [2]. Business Development - The company completed a major asset restructuring by acquiring 100% of Chengdu Aircraft Industrial Group, expanding its main business from measurement and control products to the production of complete aircraft and components, significantly enhancing its industry chain control and overall competitiveness [2]. - The company has established a multi-level innovation platform system led by the National High-end Aviation Equipment Technology Innovation Center, achieving breakthroughs in key areas such as advanced material forming and digital manufacturing [3]. International Competitiveness - Following the restructuring, the company has integrated advantageous resources to promote the export of aviation equipment, with its core subsidiary, Chengfei, being a major player in China's military trade for over 40 years [4]. - The J-10CE fighter jet has achieved excellent results in practical applications, attracting significant international market attention and demonstrating strong competitiveness compared to similar foreign products [4]. Shareholder Returns - The company has emphasized shareholder returns, distributing a total of 1.702 billion yuan in cash dividends in the first three quarters of 2025, ranking among the top in the industry for dividend distribution [5]. - The company aims to maintain a dynamic balance between performance growth and shareholder returns, adhering to a long-term, stable, and sustainable multi-channel shareholder return mechanism [5]. Future Outlook - Looking ahead, the company plans to leverage the restructuring as an opportunity to maintain high R&D investment and consolidate its advantage in the aviation equipment sector while actively exploring new strategic emerging industries such as commercial aerospace [6]. - The company is set to initiate the construction of a space equipment assembly base to continuously cultivate new productive forces, injecting strong momentum for medium to long-term high-quality development [6].
中航成飞发布2025年度业绩预告：净利润预计超34亿元，重组后盈利能力显著增强