Core Viewpoint - The company is advancing its strategic initiatives by constructing an aerospace equipment assembly base to support the "Haolong" cargo spacecraft, while also adjusting its expected related party transactions for 2025 and 2026 [1][2]. Group 1: Aerospace Equipment Assembly Base - The company's wholly-owned subsidiary, Chengdu Aircraft Industrial (Group) Co., Ltd., plans to invest approximately 422 million yuan in the construction of an aerospace equipment assembly base, which will cover over 200 acres of newly acquired industrial land [1]. - This project aims to establish the foundational conditions for the high-quality completion of the "Haolong" cargo spacecraft and other aerospace equipment production tasks, thereby promoting the company's high-quality development [1]. Group 2: Adjustments in Related Party Transactions - The company has adjusted its expected related party transactions for 2025, increasing the sale of goods from 3.379 billion yuan to 4.477 billion yuan and the leasing of assets from 35.76 million yuan to 38.76 million yuan [2]. - For the first four months of 2026, the company anticipates related party transactions to include 8.720 billion yuan in goods procurement, 673 million yuan in labor services, 240 million yuan in goods sales, 13.617 million yuan in service provision, and 8.1908 million yuan in asset leasing [2]. Group 3: Financial Performance - In the first three quarters of 2025, the company achieved a revenue of 48.286 billion yuan, reflecting a year-on-year increase of 6.19%, while the net profit attributable to shareholders was 2.169 billion yuan, down 35.21% [2]. - The third quarter of 2025 saw significant growth, with revenue reaching 27.584 billion yuan, up 139.04% year-on-year and 58.59% quarter-on-quarter, and a net profit of 1.256 billion yuan, up 169.53% year-on-year and 66.11% quarter-on-quarter [2]. Group 4: Profitability and Inventory Management - The company's gross margin for the first three quarters was 8.03%, with a net margin of 4.50%, indicating stable profitability [3]. - The company has increased its prepayments to suppliers by 121.99% year-on-year, with total prepayments amounting to 10.997 billion yuan, and has also seen a 24.75% increase in contract liabilities [3]. Group 5: Future Growth Potential - The company possesses a full-chain capability in high-end aerospace equipment, having developed a series of military aircraft and civil aircraft components, and is focusing on expanding its military trade and maintenance markets for future growth [4]. - Profit forecasts indicate that the company's net profit attributable to shareholders is expected to reach 3.837 billion yuan, 4.564 billion yuan, and 5.198 billion yuan for the years 2025 to 2027, respectively [4].

THIRD QUARTER Fiscal Year 2025 March 4, 2025 Slide 1 © 2025 AeroVironment, Inc. 093024 THIRD QUARTER FISCAL YEAR 2025 Safe Harbor Statement Certain words in this presentation may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as "believe," "anticipate," ...