公司代码：600893 公司简称：航发动力 中国航发动力股份有限公司 2024 年度内部控制评价报告 中国航发动力股份有限公司全体股东： 根据《企业内部控制基本规范》及其配套指引的规定和其他内部控制监管要求（以下简称企业内部 控制规范体系），结合本公司（以下简称公司）内部控制制度和评价办法，在内部控制日常监督和专项 监督的基础上，我们对公司2024年12月31日（内部控制评价报告基准日）的内部控制有效性进行了评价。 一. 重要声明 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其有效性，并如实披露内 部控制评价报告是公司董事会的责任。监事会对董事会建立和实施内部控制进行监督。经理层负责组织 领导企业内部控制的日常运行。公司董事会、监事会及董事、监事、高级管理人员保证本报告内容不存 在任何虚假记载、误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完整性承担个别及连带法 律责任。 公司内部控制的目标是合理保证经营管理合法合规、资产安全、财务报告及相关信息真实完整，提 高经营效率和效果，促进实现发展战略。由于内部控制存在的固有局限性，故仅能为实现上述目标提供 合理保证。此外，由于情况的变化可能 ...

重要内容提示： 一、 召开会议的基本情况 （一）股东会类型和届次 2024 年年度股东会 证券代码：600893 证券简称：航发动力 公告编号：2025-009 中国航发动力股份有限公司 关于召开 2024 年年度股东会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 （二）股东会召集人：董事会 （三）投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合的 方式 （四）现场会议召开的日期、时间和地点 召开的日期时间：2025 年 5 月 16 日 14 点 00 分 召开地点：西安市未央区中国航发动力股份有限公司科教文中心第二会议室 （五）网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2025 年 5 月 16 日 至 2025 年 5 月 16 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过 互联网投票平台的投票时间为股 ...

证券代码：600893 证券简称：航发动力 公告编号：2025-004 中国航发动力股份有限公司 第十一届监事会第六次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 中国航发动力股份有限公司（以下简称公司）第十一届监事会第六次会议（以 下简称本次会议）通知于 2025 年 3 月 21 日以邮件形式向公司全体监事发出。本 次会议于 2025 年 4 月 1 日以现场结合视频方式召开。本次会议应出席监事 3 人， 亲自出席 3 人，本次会议合计可履行监事权利义务 3 人。本次会议的召集、召开 程序符合《中华人民共和国公司法》和《中国航发动力股份有限公司章程》的规 定。 本次会议由公司监事会主席夏逢春先生主持，经与会监事认真审议，表决并 通过了以下议案： 一、审议通过《关于 2024 年度董事会工作报告的议案》 表决结果：赞成票 3 票，反对票 0 票，弃权票 0 票。 本议案尚须提交公司股东会审议通过。 二、审议通过《关于 2024 年度监事会工作报告的议案》 表决结果：赞成票 3 票，反对票 0 票，弃权票 ...

证券代码：600893 证券简称：航发动力 公告编号：2025-003 中国航发动力股份有限公司 第十一届董事会第六次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 中国航发动力股份有限公司（以下简称公司）第十一届董事会第六次会议（以 下简称本次会议）通知于 2025 年 3 月 21 日以邮件形式向公司全体董事发出。本 次会议于 2025 年 4 月 1 日以现场结合视频方式召开。本次会议应出席董事 11 人，亲自出席 7 人，董事吴联合、孙洪伟先生委托董事长牟欣先生代为参会与表 决，董事杨先锋先生委托副董事长李健先生代为参会与表决，独立董事王占学先 生委托独立董事杜剑先生代为参会与表决。本次会议合计可履行董事权利义务 11 人。本次会议的召集、召开程序符合《中华人民共和国公司法》和《中国航 发动力股份有限公司章程》（以下简称《公司章程》）的规定。 本次会议由董事长牟欣先生主持。经与会董事认真审议，表决并通过了以下 议案： 一、审议通过《关于 2024 年度董事会工作报告的议案》 公司董事会对 2024 ...

证券代码：600893 证券简称：航发动力 公告编号：2025-007 公司拟向全体股东每股派发现金红利 0.097 元（含税）。截至 2024 年 12 月 31 日，公司总股本 2,665,594,238 股，以此计算合计拟派发现金红利 258,562,641.09 元（含税）。利润分配额占当年合并财务报表归属于母公司股东 净利润的比例为 30.06%。 中国航发动力股份有限公司 关于 2024 年度利润分配预案的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 一、利润分配预案内容 （一）利润分配预案的具体内容 根据大信会计师事务所（特殊普通合伙）审计结果，截至 2024 年 12 月 31 日，公司母公司报表中期末未分配利润为 2,327,035,456.63 元。经董事会决议， 公司 2024 年度拟以实施权益分派股权登记日登记的总股本为基数分配利润，本 次利润分配预案如下： 1 本次在实施权益分派的股权登记日前公司总股本发生变动的，公司拟维持每 每股分配比例：每股派发现金红利 0.097 ...

Financial Performance - The company achieved a net profit attributable to shareholders of the parent company of ¥860,291,114.25 for the fiscal year 2024[5]. - The total distributable profit for shareholders at the end of the year was ¥2,327,035,456.63, representing a 30.06% payout ratio of the net profit[5]. - The company plans to distribute a dividend of ¥0.97 per 10 shares, totaling ¥258,562,641.09[5]. - The company reported a net profit of ¥587,108,571.55 for the parent company in 2024, with an opening retained earnings of ¥2,225,132,820.32[5]. - The net profit attributable to shareholders decreased by 39.48% to CNY 860.29 million in 2024 from CNY 1.42 billion in 2023[22]. - The basic earnings per share fell by 39.62% to CNY 0.32 in 2024, down from CNY 0.53 in 2023[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 35.20% to CNY 791.63 million in 2024[22]. - The company achieved operating revenue of CNY 47.88 billion, a year-on-year increase of 9.48% compared to CNY 43.73 billion in 2023[22]. - The company's operating revenue for 2024 reached CNY 47.88 billion, completing 96.22% of the annual budget of 49.76 billion CNY[86]. - The revenue from the aviation engine and derivative products business was CNY 4,499,404.74 million, up 10.03% year-on-year[48]. Assets and Liabilities - The total assets increased by 16.15% to CNY 115.91 billion at the end of 2024, compared to CNY 99.80 billion at the end of 2023[22]. - The company's asset-liability ratio increased to 60.74%, up 4.69% from the previous year[72]. - Accounts receivable rose to ¥35,719,779,601.66, representing 30.82% of total assets, an increase of 70.59% from the previous period[68]. - Short-term borrowings increased by 131.74% to ¥19,730,588,890.96, driven by increased financing needs[68]. Research and Development - The company applied for 732 invention patents during the reporting period, all of which were invention patents, and obtained 261 authorized patents[44]. - The company’s R&D expenses rose to CNY 995,228,553.25, marking an increase of 79.82% year-on-year[49]. - The company has created 30 industry-university-research centers and 9 provincial innovation centers to enhance its technological innovation capabilities[35]. - The company is focusing on key technology research in new materials, processes, and technologies to improve product quality and manufacturing efficiency[63]. Market and Strategic Focus - The company is focusing on expanding its domestic commercial aviation engine market and exploring opportunities in the low-altitude economy sector[33]. - The company aims to enhance its research and development capabilities in aviation engines and gas turbines to meet national strategic needs[33]. - The aviation engine industry is experiencing rapid growth, with increasing market demand and technological innovation opportunities, despite facing challenges such as energy transition and supply chain integration[38]. - The company is actively optimizing its international civil aircraft business and increasing the trial production of new model components[33]. Governance and Compliance - The audit report issued by Da Xin Accounting Firm was a standard unqualified opinion[4]. - The company has not violated any decision-making procedures regarding external guarantees[8]. - The company has established an independent financial accounting system and management policies, ensuring no fund occupation or unauthorized guarantees by the controlling shareholder[99]. - The company has received multiple awards for its governance and ESG performance, including the "2024 ESG Value Transmission Award" and "2024 Outstanding Investor Relations Construction Award"[95]. Environmental Responsibility - The company invested 33.28 million yuan in environmental protection in 2024, focusing on improving equipment maintenance and management[144]. - The company achieved a 100% compliance rate for environmental impact assessments and completion inspections for new, modified, and expanded projects[146]. - The company conducted 62 emergency drills related to environmental incidents in 2024, ensuring preparedness for potential environmental risks[147]. - The company has implemented measures to ensure that noise emissions from operations comply with the Industrial Enterprise Boundary Environmental Noise Emission Standards[140]. Human Resources and Employee Welfare - The company has established a training program aligned with its "14th Five-Year" human resources development plan, aimed at improving overall employee quality and supporting high-quality development[124][125]. - The company is focusing on enhancing its compensation management system to improve employee satisfaction and performance, with a significant increase in the average salary growth rate for core talent in 2024[123]. - The total number of employees at the parent company is 6,347, while the total for major subsidiaries is 24,396, resulting in a combined total of 30,743 employees[122]. Legal and Regulatory Matters - The company has been proactive in addressing any legal disputes and has provided updates on ongoing cases[168]. - The company has not encountered any situations that would lead to delisting risks during the reporting period[167]. - The company has successfully maintained compliance with its commitments and has no non-operational fund occupation or guarantee issues reported[163]. Related Party Transactions - The company recorded significant related party transactions, with total sales to related parties amounting to approximately 2.07 billion yuan, representing 4.42% of similar transactions[172]. - The company provided services to related parties totaling approximately 80.84 million yuan, accounting for 9.20% of similar transactions[172]. - The company’s related party transactions for purchasing goods amounted to approximately 10.98 billion yuan, representing 37.26% of similar transactions[172].

一、主要会计数据和财务指标 | 报告期指标 | 2024年年报 | 2023年年报 | 本年比上年增减(%) | 2022年年报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.3200 | 0.5300 | -39.62 | 0.4800 | | 每股净资产（元） | 0 | 14.8 | -100 | 14.41 | | 每股公积金(元) | 10.3 | 10.3 | 0 | 10.3 | | 每股未分配利润(元) | 3.47 | 3.33 | 4.2 | 2.96 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 478.8 | 437.34 | 9.48 | 370.97 | | 净利润(亿元) | 8.6 | 14.21 | -39.48 | 12.67 | | 净资产收益率(%) | 2.17 | 3.66 | -40.71 | 3.34 | | 名称 | 持有数量(万股) | 占总股本比 | 增减情况 | | --- | --- | --- | --- | | | | 例(%) | (万股) | | ...

Group 1: Market Strategy and Trends - The overall trading activity in the market is declining, with a weakening profit effect, particularly in the TMT sector, where trading congestion is easing [1][2] - Recent IPO activities are steadily progressing, indicating a clear sign of recovery in the market [1][3] - The market has seen a significant outflow of financing funds and foreign capital, with public and private fund positions also decreasing [1][3] Group 2: Industry Insights - The "Deep Sea Technology" sector is highlighted as a key growth driver, with the marine economy's total output exceeding 10 trillion yuan, growing by 5.9% year-on-year [8][9] - The core segment of "Deep Sea Technology" is the midstream deep-sea equipment manufacturing, which is expected to benefit significantly from domestic substitution logic [9][10] - The government has emphasized the importance of "Deep Sea Technology" in its work report, expanding its scope to include resource development and communication technologies [7][8] Group 3: Company-Specific Research - Huadian International Power's Q4 2024 performance met expectations, with a projected recovery trend in its coal power business for 2025, highlighting its dividend value [19][20] - The company reported a revenue of 112.4 billion yuan for 2024, a decrease of 3.4% year-on-year, but a net profit increase of 23.2% to 5.67 billion yuan in Q4 2024 [19][20] - Dongpeng Beverage's new product "Fruit Tea" has rapidly gained market traction, with sales expected to exceed 70 million yuan in March, indicating a strong growth trajectory [25][26]

Investment Rating - The investment rating for the company is "Buy" [4] Core Views - The company reported a revenue of 428.37 billion yuan in 2024, a decrease of 7.37% year-on-year, while the net profit attributable to shareholders increased by 12.86% to 33.94 billion yuan [1][10] - The company has shown strong performance in Q4 2024, with a revenue of 175.40 billion yuan, representing a year-on-year growth of 51% and a quarter-on-quarter growth of 378%. The net profit for the same quarter was 15.76 billion yuan, up 145% year-on-year and 691% quarter-on-quarter [1] - The company is experiencing a significant breakthrough in new generation equipment, which is expected to open growth opportunities in both domestic and foreign markets [3] Financial Performance Summary - In 2024, the company's revenue was 428.37 billion yuan, down 7% from the previous year, while the net profit was 33.94 billion yuan, up 13% [5] - The company's net profit margin improved to 8.07%, with a sales gross margin of 12.47%, reflecting a year-on-year increase of 1.52 percentage points [2] - The company is projected to achieve net profits of 37.2 billion, 44.0 billion, and 51.6 billion yuan for the years 2025, 2026, and 2027, respectively, with growth rates of 10%, 18%, and 17% [4][5]

截至2025年3月31日 10:42，中证高端装备细分50指数下跌2.34%。成分股方面，中航重机领跌，中航机载、航发控制、振华风光、天奥电子跟跌。高端装备 ETF(159638)回调整固，盘中成交额已达3045.37万元。 消息面方面，中国民航局28日向广东和安徽的两家公司同时颁发了载人类民用无人驾驶航空器运营合格证，这是全国首批载人类民用无人驾驶航空器运营合 格证，标志着中国低空经济"载人时代"序章正式开启。 华泰证券表示，合肥合翼航空有限公司收到了由中国民航局颁发的全球首张"载人类"民用无人驾驶航空器运营合格证（OC证）；亿航智能旗下全资子公司 亿航通航获得OC证。该载人类OC证落地代表着低空经济载人空中交通运营场景的从"0"到"1"突破，行业发展初期的"有没有运营场景"问题得到落地，建议 从飞行器侧和低空基建侧两大方向关注低空经济板块的投资机遇。 场外投资者可通过中证高端装备细分50ETF联接基金（018028）布局行业轮动机会。 拉长时间看，截至2025年3月28日，高端装备ETF近半年累计上涨12.17%。规模方面，高端装备ETF最新规模达11.40亿元。从资金净流入方面来看，高端装 备ETF近5 ...