GATD(SH:688239)2024-09-11 10:24Group 1: Financial Performance - The company achieved operating revenue of 1.24 billion yuan in the first half of the year, with a decline compared to the same period last year [2] - International business revenue reached 400 million yuan, showing a year-on-year growth of 66.30%, accounting for 43.58% of the main business revenue during the reporting period [2] - The gross profit margin for overseas main business reached 23.87%, an increase of 1.12 percentage points compared to the previous year [3] Group 2: Market Outlook - The domestic aviation market's recovery depends on downstream customer orders, while the gas turbine business is expected to continue growing [3] - The company has a total order backlog of 2.717 billion yuan, with a significant portion being foreign trade orders [4] - The cash flow improved due to the short repayment cycle of foreign trade business, which accounted for 43.58% of total revenue [4] Group 3: Business Development - The company is actively participating in the Farnborough International Airshow to introduce new products and expand customer relationships [4] - The company has completed qualifications for nuclear power-related certifications and is making arrangements for oil service business, although this segment is still relatively small [3] - The company is involved in the C919 project, supplying components and participating in the development of key products [3] Group 4: Competitive Landscape - The domestic aviation ring forging market is primarily occupied by three companies: Hangyu Technology, AVIC Heavy Machinery, and Parker Hannifin [4] - The company’s raw materials, including high-temperature alloys and titanium alloys, account for approximately 80% of total materials used [4]