21世纪经济报道记者 孙燕 8月25日晚间，万丰奥威（002085.SZ）披露了2025年半年度报告。 2025年上半年，万丰奥威实现营业收入74.94亿元，同比微增1.66%；实现归属于上市公司股东的净利润 5.01亿元，同比增长25.74%。 万丰奥威以生产汽车铝合金轮毂起家，目前轻量化铝合金和镁合金产品年产能分别达4200多万套和1800 多万套，是全球最大的轻量化铝合金轮毂和镁合金零部件供应商之一。 在活塞式固定翼飞机、混合动力飞机之外，万丰飞机也在开发纯电动通航固定翼飞机。该公司首款电动 固定翼飞机eDA40为针对培训市场打造的核心产品，能够有效降低航校培训的运营成本，目前正处于适 航审定阶段。 该公司通航飞机的销售模式主要包括直销和经销，客户或代理商预付一定比例定金后安排生产，飞机验 收交付后支付剩余价款。 除了汽车金属部件轻量化业务，万丰奥威的主营业务还包括通航飞机创新制造业务。趁低空经济东风， 万丰奥威的股价在2024年大涨，2024年底市值较年初增长约280%。 2025年上半年，万丰奥威汽车金属部件轻量化业务实现营业收入60.56亿元，同比减少 0.54%；而通航 飞机创新制造业务实现营业 ...

Group 1: Magnesium Alloy Components - The price of magnesium has fallen below that of aluminum, with decreasing price volatility, making magnesium alloy components increasingly attractive for lightweight applications [1] - The company is a global leader in deep processing of lightweight magnesium alloy materials, with strong competitive advantages in product simulation design, mold design, and die-casting [1] - The product portfolio includes key automotive components such as powertrains, front-end carriers, dashboard brackets, and door inner panels, with a focus on commercializing advanced technologies from overseas [1] Group 2: Raw Material Price Management - The company employs a price linkage settlement mechanism to enhance the proportion of customers under price linkage, optimizing the pricing mechanism to mitigate settlement delays [2] - It utilizes financial tools like hedging to lock in raw material prices, thereby reducing operational risks [2] - Strengthening centralized procurement management and optimizing supplier management systems are key strategies to lower operational costs and enhance product profitability [2] Group 3: Aviation and Low-altitude Economy - The company owns all intellectual property rights for 18 aircraft models and is a leader in the development of fixed-wing electric aircraft and eVTOL solutions [3] - It has established a comprehensive product layout for low-altitude economy, integrating fixed-wing, drone, and vertical take-off and landing (VTOL) aircraft [3] - The company is recognized as a key player in the global general aviation manufacturing sector, contributing to the development of industry standards [3] Group 4: Electric and Hybrid Aircraft Development - The company is actively developing fixed-wing electric aircraft and has successfully tested the eDA40, the world's first electric aircraft with fast-charging capabilities [4] - The HEMEP hybrid multi-engine aircraft is the first of its kind globally, designed to operate with zero emissions and low noise [4] - The eVTOL solutions include various models for urban air mobility, intercity transport, and cargo delivery, with a focus on meeting stringent EASA standards [4] Group 5: Integration and Future Planning - Following the acquisition of Volocopter's core assets, the company aims to integrate resources and enhance operational efficiency across multiple locations [5] - The company plans to advance the commercialization of new aircraft models and establish new bases and delivery centers in response to domestic low-altitude economic opportunities [5] - A multi-scenario product matrix combining fixed-wing, VTOL, and drone technologies is being developed to support diverse transportation needs [5]

Financial Performance - In 2024, the company achieved a revenue of 162.64 billion CNY, a year-on-year increase of 0.35% [1] - The net profit attributable to shareholders for 2024 was 6.53 billion CNY, a decline of 10.14% compared to the previous year [1] - In Q1 2025, the company reported a revenue of 35.67 billion CNY, reflecting a growth of 0.75% [1] - The net profit for Q1 2025 was 2.75 billion CNY, showing a significant increase of 21.3% year-on-year [2] Business Segments - The automotive metal parts lightweighting segment generated a revenue of 134.50 billion CNY, with a slight increase of 0.09% [2] - The general aviation aircraft manufacturing segment achieved a revenue of 28.14 billion CNY, growing by 1.62% [2] - The sales of aluminum alloy wheels reached 22.34 million sets, marking a year-on-year growth of 17.27% [2] Strategic Initiatives - The company is focusing on optimizing product structure and deepening cooperation in the new energy sector [1] - Following the acquisition of Volocopter's core assets, the company aims to integrate resources and enhance its eVTOL business [3] - The company plans to develop a multi-scenario product travel matrix, including fixed-wing, vertical take-off and landing aircraft, and drones [3] eVTOL Product Development - The company is developing urban air mobility solutions with the Volocopter 2X and VoloCity models, targeting certification by 2025-2026 [5] - The intercity air mobility solutions will utilize VoloRegion and VoloConnect models, designed for high endurance and speed [5] - The drone solutions, based on eVTOL technology, can carry up to 200 kg over a range of 40 km, targeting logistics in hard-to-reach areas [5] Global Market Strategy - The company has established manufacturing bases in Canada, Mexico, and the USA to mitigate tariff impacts, with less than 4% of sales to the US market affected by tariffs [6] - The company is enhancing its market share in the Asia-Pacific region, particularly among mid-to-high-end customers [6] - The strategy includes leveraging opportunities in the new energy vehicle market to integrate into core customer supply chains [6]