据悉，公司的航空动力业务已形成以中小型航空活塞发动机为主的产品线，构建了五大航空动力平台， 推出20余款衍生产品以及螺旋桨产品，涵盖无人机及轻型通航飞机等市场，可满足固定翼、旋翼无人机 等飞行器的动力需要，先后取得法国、德国随机适航认证。同时，通过不断优化提升动力系统集成技 术，实现发动机+螺旋桨+热管理系统+发电系统等集成式设计，全方位解决客户需求。 为进一步整合资源、推动战略落地，今年9月11日，宗申动力成立全资子公司——重庆辰宇科技股份有 限公司，作为航空动力业务的战略协同与培育平台，助力该板块加速发展。 报告期内，业绩增长主要得益于两大驱动因素：一是通用机械业务和摩托车发动机业务规模持续扩大， 市场份额进一步提升，为公司奠定了坚实的业绩基础；二是公司投资联营企业收益显著提升，为利润增 长提供了有力补充。 此外，公司整体产业布局不断优化，已形成以通用机械和摩托车发动机为核心，覆盖航空动力、新能 源、高端零部件等新兴业务领域的多元化格局。 目前，宗申动力正形成"传统业务稳健增长+航空动力战略突破"的双轮驱动格局。传统的通用机械与摩 托车发动机业务为公司提供了稳定的现金流与业绩支撑，支撑航空动力等长期战略业 ...

Summary of Zongshen Power's Conference Call Company Overview - Zongshen Power is a leading manufacturer of motorcycle engines and general machinery in China, with a focus on aviation power, new energy, and high-end components [3][4][10] Key Financial Highlights - Total revenue for 2024 is projected at 10.4 billion yuan, with general machinery and engine products accounting for 50% and 37% respectively, and exports making up 48% of total sales [2][3] - For the first half of 2025, a profit increase of 70%-100% is expected, with net profit estimated at 520 million yuan, representing an 85% year-on-year growth [2][5] Business Segments Motorcycle Engine Segment - Zongshen Power has over 30 years of experience in the motorcycle engine sector, with an annual production capacity of 5 million units [4][10] - In 2024, the company sold 3 million motorcycle engines, a year-on-year increase of 18% [3][10] - The market for large-displacement motorcycles is growing rapidly, with a compound annual growth rate (CAGR) of 24% for motorcycles over 250CC from 2019 to 2023 [10][11] General Machinery Segment - The company has made significant progress in general machinery through the acquisition of Dajiang Power, with sales of 4.8 million units in 2024 [12] - Zongshen plans to increase revenue by raising unit sales prices and expanding its product offerings [12] Aviation Engine Segment - The aviation engine business focuses on small and medium-sized piston engines, with revenue expected to reach 160 million yuan in 2024, a growth of over 70% [2][6] - The company has received military product qualifications, positioning it favorably in the military drone market [7][13] - Plans to spin off the aviation engine division for separate listing to enhance competitiveness [6][13] Market Opportunities - The drone market, both military and civilian, presents significant growth opportunities, especially in industrial applications such as emergency rescue and agricultural protection [7][8] - Zongshen's recent certification of the Arola domestic version marks a breakthrough in the light sport aircraft sector, paving the way for entry into the general aviation market [9] Overall Assessment - Zongshen Power is currently in a high-growth phase, with a market capitalization of approximately 30 billion yuan [14] - The synergy between traditional businesses and emerging sectors, along with the strategic advantages of operating in the Chongqing region, suggests substantial future growth potential [14]