Avicopter (600038) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 was ¥8.17 billion, down 31.69% year-over-year due to lower product deliveries.

• Net profit attributable to shareholders was ¥297 million, a 9.18% decrease compared to the same period last year.

• Major asset restructuring completed: acquired 100% equity of Changfei Group and Hafei Group, expanding business scale.

• The company completed a private placement, raising ¥3 billion in supporting funds, with total shares increasing to 819.89 million.

Financial highlights

• Operating income: ¥8.17 billion, down 31.69% year-over-year.

• Net profit attributable to shareholders: ¥297 million, down 9.18% year-over-year.

• Basic and diluted EPS: ¥0.4067, down 9.18% year-over-year.

• Net cash flow from operating activities: -¥9.20 billion, improved from -¥12.13 billion last year.

• Total assets at period end: ¥47.00 billion, up 4.20% from year-end 2023.

Outlook and guidance

• The company expects the rapid development of the low-altitude economy to bring significant opportunities for helicopters and related industries.

• Focus remains on high-quality development, technological innovation, and expanding market share in emergency rescue and civil aviation.