香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 海外監管公告 此乃中信海洋直升機股份有限公司登載於中華人民共和國深圳證券 交易所網站（www.szse.cn）關於 2025 年年度報告摘要。中信海洋直 升機股份有限公司為中國中信股份有限公司的附屬公司。 中信海洋直升机股份有限公司 2025 年年度报告摘要 证券代码：000099 证券简称：中信海直 公告编号：2026-007 中信海洋直升机股份有限公司 2025 年年度报告摘要 一、重要提示 本年度报告摘要来自年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投资者应当到证监会指 定媒体仔细阅读年度报告全文。 所有董事均已出席了审议本报告的董事会会议。 非标准审计意见提示 □适用 不适用 董事会审议的报告期利润分配预案或公积金转增股本预案 适用 □不适用 是否以公积金转增股本 □是 否 公司经本次董事会审议通过的利润分配预案为：以 775770137 股为基数，向全体股东每 10 股 ...

Investment Rating - The report assigns an "Accumulate" rating to the company, with a market price of RMB 21.27 and a sector rating of outperforming the market [2][4]. Core Insights - The company is positioned as a leader in domestic general aviation transportation, expected to benefit from the recovery in global oil and gas exploration investments and domestic low-altitude economic policies. The improvement in operational efficiency and fleet structure is anticipated to enhance profitability [4][19]. - The company's traditional strength in offshore oil helicopter services is expected to maintain steady growth, providing a solid foundation for performance. Additionally, the exploration of low-altitude economic-related businesses may open new growth opportunities for the company's future [4][19]. Financial Projections - Revenue projections for 2025-2027 are RMB 2.351 billion, RMB 2.554 billion, and RMB 2.736 billion, representing year-on-year growth rates of 8.7%, 8.6%, and 7.2% respectively. Net profit attributable to shareholders is expected to be RMB 352 million, RMB 382 million, and RMB 413 million, with growth rates of 16.1%, 8.6%, and 8.1% respectively. The estimated EPS for 2025-2027 is RMB 0.45, RMB 0.49, and RMB 0.53, corresponding to P/E ratios of 45.1, 41.5, and 38.4 times [6][8]. Business Overview - The company operates Asia's largest civil helicopter fleet, with a total of 84 advanced helicopters and a strong operational capability. Its main business areas include offshore oil, emergency rescue, land aviation, aviation maintenance, and low-altitude economy [19][25]. - The offshore oil helicopter service remains the core revenue source, contributing approximately 67.1% of total sales, with the largest client being China National Offshore Oil Corporation (CNOOC) [29][36]. Market Position - The company has a dominant position in the offshore oil service market, with a market share exceeding 60%. The strategic cooperation with CNOOC has been reinforced, ensuring a stable revenue stream and operational efficiency [29][39]. - The low-altitude economy is seen as a new growth area, with the company actively participating in industry standard-setting and exploring partnerships for eVTOL (electric vertical takeoff and landing) aircraft operations [26][32]. Financial Performance - The company has shown steady revenue growth, with total revenue increasing from RMB 15.67 billion in 2019 to RMB 21.63 billion in 2024, reflecting a year-on-year growth of 9.83% [43][44]. - The net profit for 2024 reached RMB 3.03 billion, a 26.81% increase compared to the previous year, marking the best performance since the company went public [43][44].