Citic Offshore Helicopter Co Ltd

Beijing issued official aviation safety regulations and guidance on Sunday, September 13, banning the public from owning or keeping drones and drone parts starting November 15. Residents have until November 14 to move drones out of Beijing, and the government will run a buyback program with a maximum subsidy of 3,000 yuan, about 447 dollars, per device. The measure is one of the strictest drone controls in the world, coming after a two-seat light aircraft struck the 109-story CITIC Tower in June, killing the pilot and injuring 13 people. The crash site was only a few kilometers from the headquarters of the Chinese Communist Party and the residences of senior leaders. The new rules designate all of Beijing's airspace as controlled airspace, ban all forms of recreational flying, and officials will tighten control of airspace in and around the capital within a 300-kilometer radius. Although commercial flights are not affected, aircraft must have backup tracking systems and maintain two-way communication with air traffic controllers at all times. Reports say the pilot in the CITIC Tower incident deliberately flew the plane into the building after deviating from the designated flight path, and it is highly likely he ignored contact from air traffic controllers. The aircraft also nearly collided with a commercial plane. Meanwhile, shares of companies tied to China's low-altitude aviation industry fell in trading today, September 14. Nanjing LES Information Technology dropped 2.1%, Zhejiang Wanfeng Auto Wheel fell 1.5%, and Citic Offshore Helicopter declined 1.7%.

CITIC Offshore Helicopter disclosed its 2026 semi-annual report. In the first half, total operating revenue reached 1.008 billion yuan, down 2.89% year-on-year. Net profit attributable to the parent company was 125 million yuan, down 18.31% year-on-year. Net profit after deducting non-recurring items was 126 million yuan, down 18.18% year-on-year. The company plans to distribute a cash dividend of 0.647 yuan per 10 shares, tax included, to all shareholders. Net cash flow from operating activities was 240 million yuan, down 53.32% year-on-year.