Avicopter PLC

AVIC Helicopter published its 2026 interim report on August 26. Affected by deliveries of major products falling short of expectations, the company's revenue and profit both declined, but operating cash flow improved markedly. During the reporting period, it achieved operating revenue of 9.007 billion yuan, down 12.05 percent year on year; net profit attributable to the parent company was 188 million yuan, down 33.58 percent; and non-recurring net profit was 141 million yuan, down 31.48 percent. Net cash flow from operating activities reached 2.578 billion yuan, a sharp turnaround from negative 7.413 billion yuan in the same period last year. Cash and cash equivalents at the end of the period stood at 8.178 billion yuan, up 136.06 percent from the beginning of the period. The company's research and development expenses surged 91.89 percent year on year to 298 million yuan, used for self-funded R&D investment. In the civil aircraft market, the AC332 helicopter completed airworthiness certification by the authorities, and the heavy-lift electric vertical take-off and landing aircraft AR-E800 entered the test flight phase and signed an international market cooperation agreement. However, the slowdown in short-term deliveries dragged down performance, with inventory reaching 15.6 billion yuan, short-term borrowings rising to 4.03 billion yuan, and finance costs turning from negative to positive, eroding profits.

AVIC Zhongzhi Helicopter disclosed its 2026 semi-annual report on August 26. During the reporting period, the company achieved operating revenue of 9.007 billion yuan, down 12.05% year on year; net profit attributable to shareholders of the listed company was 188 million yuan, down 33.58% year on year; basic earnings per share were 0.23 yuan. The company said current orders for its main products fell short of expectations, causing first-half operating revenue to decline year on year. The company is focusing on its core responsibilities and main business, actively expanding new-quality fields such as the low-altitude economy and aviation emergency rescue, and, based on the industrial landscape of low-altitude equipment including helicopters, general aviation aircraft and eVTOL, strengthening independent innovation and promoting research and development of new products oriented toward future demand.