航新科技(300424) - 航新科技:2020年5月13日投资者关系活动表

Financial Performance - In 2019, the company's operating revenue increased by 98.07% year-on-year, reaching 1.494 billion CNY, while net profit grew by 34.54% to 67.68 million CNY [3] - Operating cash flow for the company was 190 million CNY, a significant increase of 590.83% compared to the previous year [3] - The performance in the equipment research and support sector reached 327 million CNY in 2019, marking a 113% increase year-on-year [3] Business Development - The company has focused on the aviation sector since its establishment in 1994, providing safety and support products and services [3] - In 2017, the company expanded into the aviation asset management field, establishing a core competency in "comprehensive assessment, quality maintenance, and channel resources" [3] - The company successfully won a bid for the automatic testing platform for the domestically produced C919 aircraft, breaking foreign manufacturers' monopoly in this area [4] Impact of COVID-19 - The overall performance in 2020 showed a slight decline compared to the previous year due to the pandemic [4] - Domestic airline operations have begun to recover, with flight numbers in March reaching 42% of pre-pandemic levels [4] - The equipment research and support business was less affected by the pandemic, as it operates on an order basis with deliveries concentrated in the second half of the year [5] Strategic Initiatives - The company is updating its financial reports to advance its refinancing process for issuing convertible bonds [4] - MMRO, a subsidiary, achieved a net profit of 21.98 million CNY in 2019, although it experienced a decline due to high operational costs associated with new business ventures [5] - The company plans to introduce financial investors to MMRO to enhance its aviation asset management business, which currently accounts for approximately 45% of MMRO's total revenue [6]