AECC AEC(SZ:000738)2025-09-15 09:06Group 1: Business Performance and Outlook - The repair business increased year-on-year in the first half of 2025, driven by the demand from main engine manufacturers and military training tasks [2] - The company expects the repair business to maintain a high level during the "14th Five-Year Plan" period due to sustained production and increased user training tasks [2] - The overall revenue and profit decline in the first half of 2025 was primarily due to the impact of tax reform policies [4] Group 2: Product Development and Market Expansion - The company is actively expanding its gas turbine business, with military gas turbine control systems already in batch delivery and ongoing development for civil applications in petrochemical and shipping sectors [3] - The company is focusing on high-end general aviation power and drone control systems, with a promising market outlook supported by national low-altitude economy policies [4] - The company aims to enhance its international cooperation and market share in civil aviation, leveraging the recovery of the international civil aviation market [3][5] Group 3: Financial Management and Investor Relations - The company has established a value management system and is focusing on core capability development to enhance intrinsic value creation [6] - It is actively engaging with investors through performance briefings and strategy meetings to improve interaction and trust with the capital market [6] - The company is committed to cash dividends as a return to investors while maintaining a dynamic value analysis mechanism [6] Group 4: Production and Delivery - The delivery pace of batch production products is consistent with the previous year, with a notable increase in revenue from repair products [9] - New research projects are accelerating, and the company expects delivery conditions in the third and fourth quarters to align with annual plans [9]