CITIC COHC(000099)2025-03-28 11:07Business Overview - The company has diversified its services in the low-altitude economy, including smart control system development, aerial command management, and training [1] - Future plans involve expanding into aircraft component manufacturing and processing, leveraging its maintenance advantages in the general aviation sector [1] Revenue Growth - The low-altitude economy is expected to provide significant revenue growth opportunities across various segments, including aircraft manufacturing, operational services, and comprehensive service guarantees [1] - Current revenue growth is primarily driven by offshore oil flight services, emergency rescue, general aviation maintenance, and pilotage services [1] Fleet and Operations - The company operates the largest civil helicopter fleet in Asia, featuring models from Airbus, Sikorsky, and Leonardo, along with 11 deployed drones [2] - The company has established regular flight routes, including Shenzhen-Zhuhai and Zhoushan-Dongji Island, as well as multiple sightseeing routes in Shenzhen [7] Financial Performance - The projected cash dividend for the 2024 fiscal year is CNY 1.25 per 10 shares (tax included), with no stock distribution or capital reserve conversion planned [3] - The gross profit margin for 2024 is expected to be 23.04%, an increase of 1.88% from the previous year, with plans to enhance it through fleet upgrades and cost management [4] Competitive Advantages - The company maintains a strong brand influence, comprehensive service capabilities, and high safety production standards, which contribute to its competitive edge in the offshore oil service market [5] - It has achieved over 500,000 hours of safe flight, establishing a leading safety record in the industry [6] - The company employs 212 pilots and 425 maintenance personnel, ensuring a skilled workforce to support its operations [7] Innovation and Development - The company has developed a unique safety management system and is actively involved in enhancing safety standards within the industry [6] - It has signed a strategic cooperation agreement in the eVTOL sector and is participating in setting technical standards for eVTOL takeoff and landing sites [7] Market Management - The company emphasizes value management by enhancing its competitiveness and improving communication with investors [7]