万丰奥威(002085) - 2024年5月13日投资者关系活动记录表

Financial Performance - In 2023, the company achieved a revenue of CNY 16.207 billion, a year-on-year decline of 1.07% due to the decrease in raw material prices and the impact of Wuxi Xiongjun's financial results [1] - The net profit attributable to shareholders was CNY 727 million, down 10.14%, primarily due to a goodwill impairment of CNY 279 million related to Wuxi Xiongjun [1] - The overall gross margin for 2023 was 20.33%, showing an increase, while the operating cash flow remained stable [1] Automotive Lightweight Components - The automotive lightweight metal components business generated revenue of CNY 13.438 billion, with a year-on-year decline of 6.52% [1] - The gross margin for this segment was 18.33%, an increase of 1.30% year-on-year [1] - Sales volumes of aluminum and magnesium alloy products increased by 1.85% and 4.03% respectively [1] General Aviation Business - The general aviation segment achieved revenue of CNY 2.769 billion, a year-on-year growth of 37.94%, with a gross margin of 30.05%, up 1.26% [2] - The company focuses on an innovative manufacturing model centered around R&D, technology transfer, and after-sales service, leading to stable growth in diamond aircraft sales [2] Global Expansion and Management - The company has established manufacturing bases and R&D centers in 10 countries, with 13 production bases in 6 provinces in China [3] - It emphasizes digital transformation and smart factory construction to enhance production efficiency [3] - The international management strategy combines local culture with corporate culture, focusing on cost control and quality management [3] Procurement and Sales Models - The procurement model is primarily direct, with a robust supplier management system in place [4] - The sales model for automotive lightweight components is mainly through OEM, while general aviation sales include direct sales and dealership arrangements [4] Low-altitude Economy Policies - The low-altitude economy is entering a rapid development phase, with goals set for 2025 and 2035 to explore new fields in green aviation [4] - The company is positioned to benefit from these policies, particularly in low-altitude infrastructure and aircraft manufacturing [4] Future Development in General Aviation - The company is expanding its applications in flight training, private flying, and special purpose markets, with a strong market share in flight training [5] - The DA50 model has received certification and is entering the U.S. market, marking a significant milestone for the company [5] - The company aims to lead in the development of electric aircraft and eVTOL technologies, aligning with national low-altitude economic strategies [5]