AVICHINA releases interim results, with a net profit attributable to shareholders of 1.251 billion yuan, a year-on-year decrease of 18.89%

According to the financial news from Zhitong Finance APP, AVICHINA (02357) released its mid-term performance for 2024. The group achieved a total operating income of RMB 33.617 billion, a decrease of 17.75% year-on-year; the net profit attributable to the parent company was RMB 1.251 billion, a decrease of 18.89% year-on-year; and the basic earnings per share were RMB 0.157. The announcement stated that the decrease in revenue was mainly due to the year-on-year decline in revenue from aviation support system products and helicopter products in this period. For the six-month period ending on June 30, 2024, the group's aviation whole aircraft segment revenue was RMB 7.655 billion, a decrease of 21.46% compared to the same period last year, mainly due to a decrease in sales of helicopter products in this period; the aviation whole aircraft segment revenue accounted for 22.77% of the group's total revenue. The revenue of the group's aviation support systems and related business segment was RMB 21.382 billion, a decrease of 20.49% compared to the same period last year, mainly due to a year-on-year decrease in revenue from airborne products; the revenue of the aviation support systems and related business segment accounted for 63.60% of the group's total revenue. The revenue of the group's aviation engineering services segment was RMB 4.58 billion, an increase of 8.20% compared to the same period last year; the revenue of the aviation engineering services segment accounted for 13.63% of the group's total revenue. For the six-month period ending on June 30, 2024, the profit of the aviation whole aircraft segment of the group was RMB 265 million, a decrease of RMB 70 million compared to the profit of RMB 335 million in the same period last year, a decrease of 20.90%, mainly due to a decrease in sales of helicopter products in this period; the profit of the aviation support systems and related business segment of the group was RMB 3.417 billion, a decrease of RMB 502 million compared to the profit of RMB 3.919 billion in the same period last year, a decrease of 12.81%, mainly due to a year-on-year decrease in revenue from aviation support system products; the profit of the aviation engineering services segment of the group was RMB 205 million, a decrease of RMB 13 million compared to the profit of RMB 218 million in the same period last year, a decrease of 5.96%. In the first half of 2024, the group adhered to its strategic goals, seized strategic opportunities, continued to build sustainable competitive advantages, united and worked hard, and steadily promoted various businesses. In the first half of 2024, the group completed the integration of its helicopter business, successfully raised approximately RMB 3 billion in supporting funds, provided financial support for research and development and production, improved the competitiveness of helicopter products, expanded market share, further promoted the long-term development of the helicopter business, and committed to building a world-class helicopter enterprise with outstanding products, outstanding brands, leading innovation, and modern governance. At the same time, the group actively explored low-altitude economic application scenarios, accelerated the transformation and application of high-speed electric vertical take-off and landing aircraft (H-eVTOL) technology achievements, led the development of the aviation industry with technological innovation; closely monitored the development of strategic emerging industries and future industries, integrated internal and external advantageous resources, innovated cooperation models, and nurtured and developed new productive forces