《中国民航报》、中国民航网 记者杨群峰 通讯员张浩 报道：湖北航宇嘉泰飞机设备有限公司近日成功 获得埃塞俄比亚航空11架空客A350宽体客机座椅订单，标志其产品首次进入非洲市场，成为全球化布 局的重要里程碑。 埃航此次选型的是嘉泰全新开发面向长航程飞机的经济舱座椅JT1122E，满足3-3-3、2-4-2、3-4-3等多 种灵活布局，联动椅盆设计，提供有限后倾下的舒适体验。可选装音视频娱乐系统、电源系统，多样化 的功能配置组合。 未来，嘉泰将继续推进"国际化支点"战略，以海外市场为核心引擎，持续深化全球布局，锚定"十五 五"发展目标，推动高质量发展。（编辑：张薇，校对：李季威，审核：韩磊） 今年以来，公司海外订单实现新突破，客户遍及东南亚、中东、中亚及非洲等地，涵盖波音737 MAX、空客A320/A321/ A330及A350等多款机型，显示出全球市场对其产品的广泛认可。 ...

每经头条（nbdtoutiao）——大鹏工业战略配售"肥"了自家人！认购价9元，上市首日涨到118元，实控 人和亲哥哥凭配售一天浮盈2492万元 （记者 曾健辉） 截至发稿，安达维尔市值为46亿元。 每经AI快讯，安达维尔（SZ 300719，收盘价：17.97元）11月24日晚间发布公告称，根据北京市经济和 信息化局发布的《北京市经济和信息化局关于北京市第七批专精特新"小巨人"企业和2025年专精特 新"小巨人"复核通过企业名单进行公示的通知》，北京安达维尔科技股份有限公司的全资子公司北京安 达维尔航空设备有限公司入选第七批国家级专精特新"小巨人"企业公示名单。截至本公告披露日，入选 名单的公示期已结束。近日，航空设备公司收到了工业和信息化部颁发的国家级专精特新"小巨人"企业 证书，有效期为3年。 2024年1至12月份，安达维尔的营业收入构成为：航空设备制造及服务占比100.0%。 ...

Core Viewpoint - Beijing Andavil Technology Co., Ltd. has initiated a series of organizational adjustments to enhance operational efficiency and optimize internal structure, including departmental integration, subsidiary business layout, and governance structure improvements [1][4]. Group 1: Department Integration - The company will dissolve the existing Operations Management Department, transferring its personnel and information management tasks to the Technology Management Department. This aims to concentrate technical management resources, reduce departmental layers, and enhance internal collaboration efficiency [2]. Group 2: Subsidiary Business Strengthening - The wholly-owned subsidiary, Beijing Andavil Aviation Equipment Co., Ltd., is establishing a new manufacturing center focused on production and delivery processes. This center will enhance standardization in production and improve delivery efficiency, supporting the subsidiary's ability to handle aviation equipment orders and expand in the civil aviation sector [3]. Group 3: Governance Structure Adjustment - A significant change in governance structure includes the dissolution of the Supervisory Board, with its responsibilities being transferred to the Audit Committee of the Board of Directors. This adjustment aims to simplify decision-making and oversight processes, enhancing governance efficiency and allowing the Audit Committee to perform its supervisory role with greater professionalism and specificity [4].

北摩高科公告，公司与关联方北京赛尼锐驰技术咨询中心（有限合伙）共同投资赛尼航空设备(河北)有 限公司，并放弃对赛尼航空本次新增注册资本的优先认购权。赛尼航空已于近日完成增资的工商登记注 册手续并取得了《营业执照》，注册资本为壹仟万元整。 ...

Financial Data and Key Metrics Changes - Third quarter revenue increased by 14% to $46.2 million, up from $40.5 million in the same period last year, with year-to-date revenue growth exceeding 18% [9] - Gross profit increased by 37%, with gross margin expanding by 410 basis points to 25.1% compared to 21% in the third quarter last year [10] - Operating income reached $5.2 million, up by 52.6% year-over-year, while net income for the quarter was $4.8 million compared to $2.9 million a year ago [10] - Adjusted EBITDA increased by 34% to $6.8 million, translating to a record adjusted EBITDA margin of 14.6%, up from 12.4% in the same period last year [12] Business Line Data and Key Metrics Changes - APU revenue increased by 39% year-over-year and 27% sequentially, with year-to-date revenue up by 26% [14] - Heat exchanger revenue grew by 6% year-over-year, with a 14% increase on a year-to-date basis [14] - Landing gear revenue more than doubled year-over-year and nearly doubled sequentially, reflecting a surge in intake [15] - Trading and leasing revenue was down both sequentially and year-over-year, but up by 17% year-to-date [15] Market Data and Key Metrics Changes - The broader aviation market continues to benefit from high fleet utilization and lower aircraft retirements, driving sustained demand for maintenance, repairs, and overall activities [5] - The company maintains a backlog and LTA value at $520 million, indicating durable customer demand [9] Company Strategy and Development Direction - The company is focused on identifying strategic opportunities to accelerate growth, including potential acquisitions to expand capabilities [8] - TAT aims to leverage its strong balance sheet to pursue acquisitions that deepen customer relationships and expand its addressable market [16] - The company has added experienced corporate development executives to evaluate strategic M&A activities [8] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the future, citing a strong backlog and a large pipeline of opportunities [66] - The company is well-positioned to capture more market share, with operational discipline driving greater earning power [17] - Supply chain dynamics require active management, but significant progress has been made in inventory levels [17] Other Important Information - The company ended the quarter with $47.1 million in cash and $12.1 million in total debt, resulting in a low debt-to-EBITDA ratio of 0.5x [13] - Shareholders elected three new independent directors to enhance governance and leadership capabilities [8] Q&A Session Summary Question: How did TAT manage the change in demand this quarter, particularly the increase in landing gear? - Management emphasized the importance of viewing TAT's MRO business on a year-over-year basis rather than quarterly, noting that the increase in landing gear was expected due to entering a new cycle [22] Question: Can you discuss the characteristics of the underserved MRO opportunities? - Management highlighted that the post-COVID crisis and part shortages have created opportunities for flexible companies that can adjust to market needs and provide timely service [24] Question: Can you comment on the recent decline in backlog? - Management stated that the decline is a non-issue, as the backlog is still significantly higher than at the beginning of the year, and they have a strong opportunity pipeline [28] Question: How are operations affected by external disruptions like government shutdowns? - Management noted that while short-term hiccups may occur, there has been no major impact on growth patterns, thanks to a diverse customer base [30] Question: What is the outlook for cash flow sustainability? - Management expressed confidence in sustainable cash flow, citing improved collections and reduced inventory needs moving forward [44] Question: How do gross margins vary across business lines? - Management explained that gross margins can fluctuate due to product mix and operational leverage, emphasizing the importance of looking at long-term trends rather than quarterly comparisons [61]

Group 1 - The company, Beimo High-Tech, expects a net profit attributable to shareholders of approximately 125 million to 133 million yuan for the first three quarters of 2025, representing a year-on-year increase of 50% to 60% [1] - The basic earnings per share are projected to be between 0.38 yuan and 0.40 yuan [1] - The main reasons for the performance change include the completion of product deliveries as required, steady business growth, and improved cost control leading to a decrease in costs and expenses year-on-year [1] Group 2 - For the first half of 2025, the revenue composition of Beimo High-Tech is as follows: 68.51% from aviation-related equipment manufacturing and 31.49% from testing services [1] - The company's market capitalization is currently 9.8 billion yuan [2]

Core Points - Chengdu Haoneng Technology Co., Ltd. has approved a bank credit limit application totaling RMB 420 million for 2025, which was authorized by the shareholders' meeting [2] - The company has signed a working capital loan contract with Bank of China Chengdu Jinjing Branch for RMB 50 million with a term of 24 months [3] - The company has cumulative bank credit applications amounting to RMB 3.314 billion, with an unused credit limit of RMB 886 million as of the announcement date [6][7] Credit and Guarantee Details - The company has pledged 100% equity of Chengdu Haoyiqiang Aviation Equipment Manufacturing Co., Ltd. as collateral for the credit, with a maximum guarantee amount of RMB 279.3025 million [4] - The company has also provided guarantees for its subsidiaries, including a maximum liability guarantee of RMB 30 million for Chengdu Haoyiqiang [10] - The total amount of external guarantees provided by the company is RMB 2.332 billion, accounting for 77.11% of the audited net assets for 2024, with no overdue guarantees reported [11] Impact on Company - The credit application is aimed at meeting the daily operational liquidity needs of the company and its subsidiaries, enhancing financial security, and supporting sustainable development [7] - The board of directors believes that the guarantees provided will not harm the interests of the company and its shareholders, and the subsidiaries have stable operations and good credit status [10]

Core Viewpoint - The company *ST Lihang has announced the lifting of the detention measures against its actual controller and chairman, Liu Suiyang, allowing him to resume his duties, while the company's operational performance remains normal [1]. Financial Performance - For the first half of 2025, the company reported a revenue of 54.34 million yuan, a year-on-year decrease of 49.72% [1]. - The net profit attributable to shareholders was -44.57 million yuan, compared to -24.26 million yuan in the same period last year [1]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -45.19 million yuan, down from -26.86 million yuan year-on-year [1]. - The net cash flow from operating activities was -41.99 million yuan, an improvement from -67.72 million yuan in the previous year [1]. Historical Financial Data - In 2023 and 2024, the company's revenues were 235 million yuan and 290 million yuan, respectively [2]. - The net profit attributable to shareholders for these years was -68.31 million yuan and -93.94 million yuan, respectively [2]. - The net profit after deducting non-recurring gains and losses was -62.14 million yuan in 2023 and -98.81 million yuan in 2024 [2]. - The net cash flow from operating activities was -52.71 million yuan in 2023 and -20.62 million yuan in 2024 [2]. IPO Information - Lihang Technology was listed on the Shanghai Stock Exchange on March 15, 2022, with an initial public offering of 19.25 million shares at a price of 19.70 yuan per share [2]. - The total amount raised from the IPO was 379 million yuan, with a net amount of 335 million yuan after expenses [2]. - The funds raised are intended for aviation equipment and rotorcraft manufacturing projects, as well as to supplement working capital [2]. Issuance Costs - The total issuance costs for the IPO amounted to 44.50 million yuan, with underwriting and sponsorship fees accounting for 29.67 million yuan [3].

Core Viewpoint - *ST Lihang (603261.SH) reported a significant decline in revenue and increased net losses for the first half of 2025 compared to the previous year, indicating ongoing financial challenges for the company [1][3]. Financial Performance Summary - For the first half of 2025, the company achieved operating revenue of 54.34 million yuan, a decrease of 49.72% year-on-year [1][3]. - The net profit attributable to shareholders was -44.57 million yuan, worsening from -24.26 million yuan in the same period last year [1][3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -45.19 million yuan, compared to -26.86 million yuan in the previous year [1][3]. - The net cash flow from operating activities was -41.99 million yuan, an improvement from -67.72 million yuan year-on-year [1][3]. Historical Financial Data - In 2023 and 2024, the company's operating revenues were 235 million yuan and 290 million yuan, respectively, with net profits of -68.31 million yuan and -93.94 million yuan [3][4]. - The net cash flow from operating activities for 2023 and 2024 was -5.27 million yuan and -2.06 million yuan, respectively [3][4]. Initial Public Offering (IPO) Details - Lihang Technology was listed on the Shanghai Stock Exchange on March 15, 2022, with an initial public offering of 19.70 yuan per share, raising a total of 379 million yuan [4][5]. - The net proceeds from the IPO amounted to 335 million yuan, which were allocated for aviation equipment and rotorcraft manufacturing projects, as well as for working capital [5].

Core Viewpoint - *ST Lihang (603261.SH) is expected to continue its losses in the first half of 2025, with projected net profit attributable to shareholders ranging from -41 million to -57 million yuan, indicating a worsening financial situation compared to the previous year [1] Financial Performance Summary - The company reported a net profit of -24.26 million yuan in the same period last year, with a net profit excluding non-recurring items of -26.86 million yuan [1] - For the years 2023 and 2024, the net profits attributable to shareholders were -68 million yuan and -94 million yuan respectively, with net profits excluding non-recurring items at -62 million yuan and -99 million yuan [1] - The operating revenue for 2024 was approximately 289.85 million yuan, showing a 23.54% increase from 2023, which had 234.62 million yuan [2] - The operating revenue after excluding unrelated business income for 2024 was about 284.43 million yuan, a 21.34% increase from 2023 [2] - The net profit attributable to shareholders for 2024 was -93.94 million yuan, a decrease of 37.51% compared to -68.31 million yuan in 2023 [2] - The net profit excluding non-recurring items for 2024 was -98.81 million yuan, a 59.02% decrease from -62.14 million yuan in 2023 [2] Company Background - Lihang Technology was listed on the Shanghai Stock Exchange on March 15, 2022, with an initial public offering of 19.70 yuan per share, raising a total of 379 million yuan [3] - The net proceeds from the fundraising amounted to 335 million yuan, which were allocated for aviation equipment and rotorcraft manufacturing projects, as well as for working capital [3] - The total issuance costs were approximately 44.50 million yuan, with the underwriting fees to Huaxi Securities being around 29.67 million yuan [3]