Avicopter (600038) Q4 2024 earnings summary

Executive summary

• Achieved revenue of ¥29.77 billion in 2024, up 11.93% year-over-year, driven by increased product deliveries.

• Net profit attributable to shareholders was ¥555.87 million, down 7.98% year-over-year due to higher warranty costs and less favorable product pricing compared to the previous year.

• Completed major asset restructuring, acquiring 100% equity in Changfei Group and Hafei Group, expanding business scale and production capacity.

• Raised approximately ¥3 billion in supporting funds through a targeted share issuance.

Financial highlights

• Operating income: ¥29.77 billion, up 11.93% year-over-year.

• Net profit attributable to shareholders: ¥555.87 million, down 7.98% year-over-year.

• Basic EPS: ¥0.7234, down 12.39% year-over-year.

• Gross margin for aviation manufacturing: 10.49%, down 0.03 percentage points year-over-year.

• Operating cash flow: ¥2.57 billion, a significant improvement from the previous year’s outflow.

Outlook and guidance

• Focus on high-quality development, risk control, and production capacity expansion in 2025.

• Plans to strengthen market development, especially in emergency rescue, general aviation, and international markets.

• Strategic emphasis on low-altitude economy and technological innovation to capture new growth opportunities.