Financial Performance - In the first half of 2025, the company achieved operating revenue of 460 million yuan, a year-on-year increase of 33.40% [2][3] - Net profit attributable to shareholders reached 80.98 million yuan, up 21.50% year-on-year [2] - The net profit excluding non-recurring gains and losses was 79.82 million yuan, reflecting a growth of 29.68% [2][3] - The parent company's operating revenue grew by 58.99% year-on-year [3] Business Development - The company completed phase verification for two types of landing gear and began batch deliveries, with four types of aircraft already delivered [4] - In civil aviation, multiple STC certifications for aircraft brake discs were initiated, and NADCAP certifications for various processes are expected to be completed by the end of August [5] - Participation in the Paris Air Show facilitated productive discussions with major international aviation companies, aiming to enhance collaboration [5] Cash Flow and Receivables - The net cash flow from operating activities was 131 million yuan, a significant improvement from a negative 90.73 million yuan in the same period last year [6] - Cash received from sales and services amounted to 368 million yuan, an increase of 93 million yuan year-on-year, indicating improved collection quality [6][7] Subsidiary Performance - The subsidiary Jinghan Yu maintained stable revenue, with net profit increasing due to cost control measures [8] - The subsidiary achieved breakthroughs in testing technology, securing five invention patents and completing 4,018 R&D tasks [8] Future Strategic Plans - The company aims to contribute to the domestic aircraft manufacturing strategy by leveraging its quality, service, and technical advantages [9] - Plans to expand into the civil aviation market by utilizing existing PMA supplier qualifications to meet maintenance and replacement needs [9] - Future international market cooperation will be driven through the subsidiary Saini Aviation, focusing on quality system certification and process standardization [9]

Group 1 - The company held its 2024 annual shareholder meeting, electing Zhang Tianchuang as a non-independent director and chairman of the board [2] - Zhang Tianchuang has a background in military education and has held various leadership roles within the company, including general manager [2] - Multiple institutional investors attended the meeting, where the company discussed its future strategy in the civil aviation sector [2] Group 2 - The company is actively participating in the domestic production of various aircraft models, aiming to contribute to the national strategy for aircraft localization [2] - The company plans to expand its customer base in the civil aviation sector by leveraging its PMA supplier qualifications to meet maintenance and replacement needs [3] - In 2024, the company reported a revenue of 83.92 million yuan from its landing gear business, marking a year-on-year increase of 1,766.18% [3] Group 3 - The company is integrating resources through its subsidiary, Saini Aviation, to expand its international market presence in civil aviation [3] - The company has completed various certification and production processes for landing gear, laying the groundwork for future deliveries [3] - The company is also exploring new applications for titanium alloys and developing advanced lightweight technologies [3]