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Research Report Nuggets丨Changjiang Securities: China Airlines Xifei Q1 revenue has grown steadily, and profitability has improved markedly
Gelonghui, May 14 | Changjiang Securities Research Report pointed out that China Airlines Xifei (000768.SZ) 24Q1 revenue grew steadily, or benefited from learning and scale effects, and the company's profitability improved markedly. The reduction in the cost rate during the period also reflects the increasing improvement of the corporate governance system and the gradual improvement of management standards. In the context of the State Assets Administration Commission increasing the “two funds” assessment, the company actively controlled the inventory size; the balance of accounts receivable and notes was 22.504 billion, an increase of 111.74% over the previous year; the balance of projects under construction was 918 million, an increase of 37.24% over the previous year. Continued investment in projects under construction, and the company's supply capacity
China Airlines Xifei (000768): Increased profits, steady growth in performance, military and civilian combined, broad market space
The incident describes the company's 2024 quarterly report. In 24Q1, it achieved revenue of 8.455 billion yuan, a year-on-year increase of 6.45%, and a decrease of 28.88% month-on-month; net profit to mother was 272 million yuan, an increase of 15.67% year-on-year.
China Airlines Xifei (000768): The performance boom in the first quarter is improving, military and civilian cooperation are flying hand in hand
Incident: The company revealed that many indicators in the 2024 first quarter results report are improving, and the prospects for civil-military collaboration are promising. The 24Q1 company achieved revenue of 8.455 billion yuan, +6.45% year on year; realized net profit to mother of 272 million yuan, year over year
Large domestic aircraft have entered the mass production and delivery stage, and the industrial chain has entered a golden period of development
① The agency pointed out that large domestic aircraft have entered the mass production and delivery stage, and are expected to enter a golden period of development from 1 to 100. ② According to estimates by Zheshang Securities, the total value of the domestic passenger aircraft market is estimated to be nearly 3 trillion yuan in 2021-2040, with a compound growth rate of over 20% and a market share of over 30%.
China Airlines Xifei (000768.SZ): Undertakes the development and production of work packages for the outer wing box, middle fuselage (including the central wing), flaps, ailerons, and stitches of the C919 aircraft
Gelonghui, May 9 | China Airlines Xifei (000768.SZ) said on the investor interactive platform that the C919 aircraft is a product of China Commercial Aircraft Co., Ltd., and as one of the C919 aircraft fuselage suppliers, the company undertakes the development and production tasks of the C919 aircraft's outer wing case, middle fuselage (including the central wing), flaps, ailerons, and stitches. As the number of C919 aircraft parts deliveries the company undertakes continues to increase, it will have a positive impact on the company's revenue growth.
China Airlines Xifei (000768): Net interest rate can be expected to improve quality and efficiency
Incident: The company released its 2023 annual report and 2024 quarterly report. In 2023, it achieved revenue of 40.301 billion yuan, an increase of 7.01% year on year; achieved net profit of 861 million yuan to mother, an increase of 64.41% year on year
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