中航直升机股份有限公司2025年度业绩承诺实现情况详细披露

独立财务顾问核查意见发布，全部业绩承诺超额完成

一、事件概述

近日，中国国际金融股份有限公司（中金公司）作为中航直升机股份有限公司（以下简称“中直股份”）发行股份购买资产并募集配套资金暨关联交易的独立财务顾问，正式对昌河飞机工业（集团）有限责任公司（昌飞集团）、哈尔滨飞机工业集团有限责任公司（哈飞集团）及哈飞集团持有的天津中航锦江航空维修工程有限公司（锦江维修）81%股权等相关业绩承诺资产2025年度的业绩承诺实现情况进行了核查，并发表了核查意见。

本次交易涉及重大资产重组，涉及三项核心资产的业绩承诺，业绩承诺期为2024年、2025年、2026年三个会计年度。业绩承诺人包括中国航空科技工业股份有限公司、中国航空工业集团有限公司，承诺对相关资产实现特定净利润目标，不达标需进行补偿。

二、业绩承诺与实现情况详细披露

• 昌飞集团无形资产：
  • 2025年度实现净利润：3,953.84万元
  • 2025年度承诺净利润：1,503.89万元
  • 截至本期末累计实现净利润：6,933.61万元
  • 累计业绩承诺完成率：442.29%
  • 应补偿金额：0元
• 哈飞集团无形资产：
  • 2025年度实现净利润：8,740.68万元
  • 2025年度承诺净利润：8,458.61万元
  • 截至本期末累计实现净利润：19,350.89万元
  • 累计业绩承诺完成率：120.31%
  • 应补偿金额：0元
• 锦江维修81%股权：
  • 2025年度实现净利润：767.62万元
  • 2025年度承诺净利润：653.56万元
  • 截至本期末累计实现净利润：1,756.42万元
  • 累计业绩承诺完成率：109.28%
  • 应补偿金额：0元

三、对股东和投资者的重要提示及潜在价格影响因素

• 业绩承诺全面超额完成：

  2025年度三项业绩承诺资产均实现超额完成，累计业绩承诺完成率均远超100%，显示公司核心资产盈利能力极强，经营状况优异。这一结果对公司未来业绩和股东回报形成有力支撑，极有可能成为股价上涨的重要催化剂。

• 无需业绩补偿，风险大幅降低：

  根据独立财务顾问核查结果，2025年度全部业绩承诺均已达标甚至大幅超额完成，相关业绩承诺人无需向上市公司进行股份或现金补偿。这意味着投资者无需担忧业绩补偿带来的公司股权稀释或现金流压力，有助于提升市场信心。

• 资产重组顺利落地，协同效应正逐步显现：

  自2024年3月完成资产过户及工商变更后，昌飞集团、哈飞集团已成为上市公司全资子公司。本次重组标的资产的优异表现，标志着公司整合效果突出，为后续业绩持续增长奠定坚实基础。

• 未来两年仍为业绩承诺期，公司有望延续高增长：

  2026年为本次重组业绩承诺期的最后一年。结合目前资产超额完成情况，投资者可预期公司未来业绩有望持续保持较快增长态势。

四、流程及保障安排

上市公司已聘请大信会计师事务所（特殊普通合伙）对2025年度业绩承诺完成情况出具了专项审核报告。业绩承诺协议对业绩补偿、上限、补偿方式（优先以股份补偿，不足部分以现金补偿）、股份质押安排及相关权利义务有着明确约定，为投资者利益提供切实保障。

五、结论

综上所述，中航直升机股份有限公司2025年度资产重组业绩承诺全部实现且大幅超额，经营稳健，风险大幅降低，未来增长可期。这一信息极具积极性，具备显著的股价催化剂特征，建议投资者高度关注。

免责声明

本文所载信息仅供投资者参考，不构成任何投资建议或邀约。投资有风险，入市需谨慎。投资者应结合自身实际情况做出独立判断。

English Version

AVIC Helicopter Co., Ltd. 2025 Performance Commitment Fulfillment Detailed Disclosure

Independent Financial Advisor Confirms All Performance Targets Exceeded

1. Event Overview

China International Capital Corporation (CICC), acting as the independent financial advisor for AVIC Helicopter Co., Ltd. (hereinafter “the Company”)’s asset acquisition via share issuance and supporting fundraising, has conducted a thorough review of the 2025 performance commitment fulfillment for key assets: Changhe Aircraft Industries Group (Changhe Group), Harbin Aircraft Industry Group (Harbin Group), and 81% equity of Tianjin AVIC Jinjiang Aircraft Maintenance Engineering Co., Ltd. (Jinjiang Maintenance) held by Harbin Group. The findings have been officially disclosed.

This transaction is a significant asset restructuring, with a three-year performance commitment period (2024-2026). The commitment parties, including AVIC Technology and AVIC Group, have guaranteed certain net profit targets for the related assets. Any shortfall would have triggered compensation.

2. Detailed Performance Commitment and Fulfillment

• Changhe Group Intangible Assets:
  • 2025 Net Profit Achieved: RMB 39.54 million
  • 2025 Committed Net Profit: RMB 15.04 million
  • Cumulative Net Profit Achieved (to date): RMB 69.34 million
  • Cumulative Commitment Fulfillment Rate: 442.29%
  • Compensation Required: None
• Harbin Group Intangible Assets:
  • 2025 Net Profit Achieved: RMB 87.41 million
  • 2025 Committed Net Profit: RMB 84.59 million
  • Cumulative Net Profit Achieved (to date): RMB 193.51 million
  • Cumulative Commitment Fulfillment Rate: 120.31%
  • Compensation Required: None
• Jinjiang Maintenance 81% Equity:
  • 2025 Net Profit Achieved: RMB 7.68 million
  • 2025 Committed Net Profit: RMB 6.54 million
  • Cumulative Net Profit Achieved (to date): RMB 17.56 million
  • Cumulative Commitment Fulfillment Rate: 109.28%
  • Compensation Required: None

3. Key Points for Shareholders and Potential Price-Sensitive Factors

• All Performance Commitments Substantially Exceeded:

  All three assets greatly outperformed their 2025 net profit targets, with cumulative fulfillment rates far above 100%. This demonstrates the Company’s strong profitability and operational excellence, which is highly supportive for future earnings and shareholder returns. This is a potentially strong catalyst for share price appreciation.

• No Need for Performance Compensation, Risk Significantly Reduced:

  With all commitments met and exceeded, there will be no share or cash compensation required, eliminating concerns about dilution or cash outflows. This should boost investor confidence.

• Successful Asset Integration, Synergies Emerging:

  Since the asset transfer and registration were completed in March 2024, both Changhe and Harbin Groups have become wholly-owned subsidiaries, and the strong performance of the acquired assets signals outstanding integration and paves the way for sustained growth.

• Further Growth Expected in Remaining Commitment Period:

  With 2026 still within the commitment period and based on the current trend of significant outperformance, investors can expect continued strong growth.

4. Process and Safeguards

The Company has engaged DaXin Certified Public Accountants to audit the 2025 performance results. The performance commitment agreements clearly stipulate the compensation mechanisms, upper limits, and priority of share compensation, providing solid protection for investors.

5. Conclusion

In summary, AVIC Helicopter’s 2025 performance commitments for its restructured core assets have been fully met and greatly exceeded, reflecting strong fundamentals and substantially reduced risks. This development is highly positive and could catalyze the Company’s stock price. Investors are strongly advised to pay close attention.

Disclaimer

The information herein is for reference only and does not constitute investment advice. Investment involves risks. Please make independent judgments based on your own situation.

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