Core Viewpoint - Company Shanhai Intelligent received an unexpected insurance payout of 160 million yuan (approximately 29 million USD) from a US insurance company due to aircraft rental contracts with Russian clients that could not be fulfilled because of geopolitical conflicts [1][5][6]. Summary by Relevant Sections Company Operations - Shanhai Intelligent's subsidiary AVMAX specializes in aircraft leasing, sales, maintenance, and related services [3][8]. - AVMAX had signed three aircraft leasing contracts with Russian clients, which became problematic following the geopolitical tensions that began in February 2022 [4][6]. Financial Impact - The insurance payout of 29 million USD, after deducting legal fees, resulted in a net amount of approximately 22.97 million USD, equivalent to about 163.93 million yuan [5]. - The net profit impact from this insurance payout is estimated at 126.23 million yuan, which represents 172.92% of the company's audited net profit for the previous year [5][6]. Stock Performance - Following recent developments, Shanhai Intelligent's stock has seen significant increases, with a cumulative rise of 116% over 16 trading days, including 9 trading days with price limits [6]. - The company's current market capitalization stands at 19.2 billion yuan [6]. Business Segments - In 2024, the aviation business of Shanhai Intelligent generated revenue of 1.013 billion yuan, accounting for 14.24% of total revenue, with a gross margin of 60.71% [9].

Core Viewpoint - Shanhe Intelligent has received an insurance payout of 160 million yuan from a U.S. insurance company due to three aircraft leased to Russian clients being stranded in Russia amid geopolitical conflicts [2][4]. Company Summary - Shanhe Intelligent's wholly-owned subsidiary, AVMAX, specializes in aircraft leasing, sales, and maintenance services. It had signed three aircraft leasing contracts with Russian clients [2][3]. - The insurance payout amounts to 29 million USD, with a net amount of approximately 22.97 million USD after legal fees. This translates to about 163.93 million yuan at the current exchange rate [4]. - The net profit impact from the insurance payout, after tax deductions, is approximately 12.62 million yuan, which represents 172.92% of the company's audited net profit for the previous year [4]. - The company had previously fully provisioned for impairment on the three aircraft, indicating that this insurance payout is a non-recurring gain [4]. Financial Performance - Shanhe Intelligent's stock has seen significant growth, with a cumulative increase of 116% over 16 trading days, reaching a market capitalization of 19.2 billion yuan [4]. - The company's aviation business generated revenue of 1.013 billion yuan in 2024, accounting for 14.24% of total revenue, with a gross margin of 60.71% [7]. Shareholder Information - As of August 8, 2025, the total number of shareholders has increased to 245,046, reflecting a growth rate of 37.53% [8].

Group 1 - Company Shanhe Intelligent received an insurance payout of 290 million yuan (approximately 29 million USD) from a US insurance company due to aircraft stranded in Russia amid geopolitical conflicts [3][5] - The aircraft were leased to Russian clients, and despite multiple attempts to recover them since the conflict began in February 2022, the company was unable to do so [4][5] - The net impact of the insurance payout on the company's net profit is approximately 126.23 million yuan, which accounts for 172.92% of the company's audited net profit for the previous year [5][6] Group 2 - Shanhe Intelligent's stock has seen significant growth, with a cumulative increase of 116% over 16 trading days, including 9 trading days with price limits [6] - The company's main business areas include engineering machinery, aviation equipment and services, and special equipment, providing comprehensive solutions to global clients [6] - In 2024, the revenue from the aviation business was 1.013 billion yuan, representing 14.24% of total revenue, with a gross margin of 60.71% [7] Group 3 - The total number of shareholders for Shanhe Intelligent has increased to 240,460, reflecting a change of 37.53% [8] - The company has previously fully recognized impairment for the three aircraft, indicating that the recent insurance payout is considered a non-recurring gain [6]

Core Viewpoint - Shanhe Intelligent has received an insurance compensation of 160 million yuan from a U.S. insurance company due to aircraft rental contracts with Russian clients that could not be fulfilled due to geopolitical conflicts [3][4][6]. Summary by Sections Company Overview - Shanhe Intelligent's main business areas include engineering machinery, aviation equipment and services, and special equipment, providing comprehensive solutions to global clients [10]. - The company's primary products consist of excavators, piling machinery, aerial work platforms, mining equipment, emergency rescue equipment, oil and gas pipeline equipment, railway maintenance equipment, and green energy extraction equipment [10]. Insurance Compensation Details - Shanhe Intelligent's wholly-owned subsidiary, AVMAX, had signed three aircraft rental contracts with Russian clients, which became uncollectible due to geopolitical tensions since February 2022 [4][6]. - AVMAX reached an agreement with the insurance underwriters, confirming an insurance payout of 29 million USD, with a net amount of approximately 22.97 million USD after legal fees [6]. - The received insurance compensation, converted at the exchange rate of 7.1382, amounts to approximately 163.93 million yuan, impacting the company's net profit by about 126.23 million yuan, which is 172.92% of the previous year's audited net profit [6]. Stock Performance - Following the recent developments, Shanhe Intelligent's stock has seen significant increases, with a cumulative rise of 116% over 16 trading days, including 9 trading limits [6]. - As of the latest data, the company's market capitalization reached 19.2 billion yuan [6]. Financial Metrics - In the fiscal year 2024, Shanhe Intelligent's aviation business generated revenue of 1.013 billion yuan, accounting for 14.24% of total revenue, with a gross margin of 60.71% [10]. - The total number of shareholders has increased significantly, with the latest count at 240,046, reflecting a growth rate of 37.53% [11].

Core Viewpoint - The stock price of Shanhe Intelligent (002097.SZ) has surged significantly, with a cumulative increase of 116% over 15 trading days, leading to a market capitalization of 18.6 billion yuan [1][7]. Company Overview - Shanhe Intelligent operates in three main business areas: construction machinery, aviation equipment and services, and special equipment, achieving annual revenue exceeding 7 billion yuan [1]. - The company was founded by He Qinghua, who transitioned from academia to entrepreneurship at the age of 53, starting with hydraulic static pile drivers [3][4]. Historical Development - He Qinghua faced significant challenges in the competitive construction machinery market dominated by major players like Sany Heavy Industry and Zoomlion, starting with limited resources [4]. - The company achieved its first major financial turnaround in 2003, with revenue surpassing 100 million yuan and net profit reaching the million level [4]. - In 2006, Shanhe Intelligent became the first privately-owned company in China's construction machinery sector to be listed on the Shenzhen Stock Exchange [4]. Recent Developments - After facing a downturn in 2012, He Qinghua initiated a second entrepreneurial phase, expanding into the aviation sector with the establishment of Shanhe Xinghang [5][6]. - The company maintained a research and development investment of over 5% during industry lows, focusing on high-end hydraulic components and intelligent control technology [6]. - By 2023, international revenue accounted for over 50% of Shanhe Intelligent's total revenue, with projections to increase to 61.98% in 2024 [6]. Product Innovations - The first self-developed light sport aircraft, "Aruola," received airworthiness certification in 2018, showcasing the company's technological capabilities [6][7]. - The aviation segment has expanded into flight training and tourism operations, with the first export of a Chinese brand general aircraft to Nepal in 2023 [7]. Leadership Transition - He Qinghua stepped down as chairman in 2022 and as honorary chairman in 2024, but continues to serve as the chief expert of the company [7]. - The ongoing development of Shanhe Xinghang, which is preparing for an IPO, is expected to contribute significantly to Shanhe Intelligent's performance [7][8].