中航直升机股份有限公司重大资产重组暨2025年度业绩承诺完成情况公告详解

重点摘要

• 公司发行股份购买资产及募集配套资金重组顺利完成，昌飞集团、哈飞集团成为全资子公司。
• 2025年度业绩承诺显著超额完成，相关承诺方无需进行业绩补偿。
• 业绩承诺资产包括技术类无形资产和锦江维修81%股权，均实现超预期净利润。
• 会计师事务所及独立财务顾问均确认业绩承诺完成情况真实、公允。
• 业绩补偿安排透明、严格，股份优先用于补偿，最大限度保护上市公司和股东利益。

详细内容

一、重大资产重组基本情况

2023年7月至2024年3月，中航直升机股份有限公司（“中直股份”）通过发行股份向中国航空科技工业股份有限公司（“中航科工”）及中国航空工业集团有限公司（“中国航空工业集团”）购买昌河飞机工业（集团）有限责任公司（“昌飞集团”）92.43%股权和哈尔滨飞机工业集团有限责任公司（“哈飞集团”）80.79%股权，以及昌飞集团7.57%股权、哈飞集团19.21%股权，并募集配套资金。2024年3月标的资产过户及工商变更手续完成，昌飞集团、哈飞集团正式成为公司全资子公司。

二、业绩承诺及补偿机制

业绩承诺期：2024-2026年，连续三个会计年度。
承诺净利润：

• 昌飞集团无形资产：2025年度承诺净利润1,503.89万元
• 哈飞集团无形资产：2025年度承诺净利润8,458.61万元
• 锦江维修81%股权：2025年度承诺净利润653.56万元

补偿安排：若实际净利润低于承诺，业绩承诺人需以股份优先方式进行补偿。股份不足则以现金补偿。补偿数额不超交易对价，最大限度保护股东利益。

三、2025年度业绩承诺实现情况

经大信会计师事务所审计及独立财务顾问核查：

• 昌飞集团无形资产：实现净利润3,953.84万元，完成率442.29%，远超承诺。
• 哈飞集团无形资产：实现净利润8,740.68万元，完成率120.31%，超额完成。
• 锦江维修81%股权：实现净利润767.62万元，完成率109.28%，超额完成。

结论：三项资产均实现超额承诺，相关业绩承诺人无需进行业绩补偿。

四、会计师事务所及财务顾问意见

大信会计师事务所及独立财务顾问均认为，公司业绩承诺完成情况真实、准确、完整，资产重组后的经营业绩表现优异。

五、对投资者和股东的影响

• 资产重组后，公司盈利能力大幅提升。2025年净利润远超业绩承诺，有望持续增强公司竞争力和股东回报。
• 业绩补偿安排严格，保障上市公司和股东利益，降低业绩风险。
• 资产重组及业绩超额完成，可能被市场视为利好，有望提升公司股价。
• 未来两年（2026年）仍有业绩承诺期，建议持续关注公司后续经营业绩。

六、潜在股价影响

本次公告显示，资产重组后的公司业绩表现显著优异，净利润大幅超额完成。此利好信息或将提升市场信心，推动公司股价上涨。投资者需关注公司长期经营表现及未来业绩承诺实现情况。

免责声明

本文章仅供参考，不构成投资建议。投资者需根据自身情况及风险偏好审慎决策。公司实际经营情况及资本市场表现可能受多种因素影响，敬请关注后续公告及信息披露。

English Version

AVIC Helicopter Major Asset Restructuring and 2025 Performance Commitment Completion Announcement – Detailed Analysis

Key Highlights

• The company successfully completed share issuance for asset acquisition and supporting funds; Changhe Aircraft and Harbin Aircraft became wholly-owned subsidiaries.
• 2025 performance commitments were significantly exceeded; no compensation required from commitment parties.
• Performance assets include technology intangible assets and 81% equity in Jinjiang Maintenance, all delivering above-forecast net profits.
• Accounting firm and independent financial advisor both confirmed the authenticity and fairness of performance completion.
• Compensation arrangements are transparent and strict; shares are prioritized for compensation, maximizing protection for listed company and shareholders.

Details

1. Major Asset Restructuring Overview

From July 2023 to March 2024, AVIC Helicopter Co., Ltd. (“AVIC Helicopter”) issued shares to China Aviation Industry Technology Co., Ltd. (“AVIC Tech”) and Aviation Industry Corporation of China (“AVIC Group”) to purchase 92.43% equity in Changhe Aircraft and 80.79% in Harbin Aircraft, as well as 7.57% in Changhe and 19.21% in Harbin, and raised supporting funds. As of March 2024, asset transfer and registration were completed, making Changhe and Harbin wholly-owned subsidiaries.

2. Performance Commitment and Compensation Mechanism

Commitment period: 2024-2026, three consecutive fiscal years.
Committed net profit:

• Changhe intangible assets: 2025 commitment RMB 15.0389 million
• Harbin intangible assets: 2025 commitment RMB 84.5861 million
• Jinjiang Maintenance 81% equity: 2025 commitment RMB 6.5356 million

Compensation arrangement: If actual net profit is below commitment, commitment parties compensate first by shares, then by cash if insufficient. Compensation amount does not exceed transaction price, protecting shareholders’ interests.

3. 2025 Performance Commitment Achievement

Audited by DaXin CPA and verified by financial advisors:

• Changhe intangible assets: Actual net profit RMB 39.5384 million, completion rate 442.29%, well above commitment.
• Harbin intangible assets: Actual net profit RMB 87.4068 million, completion rate 120.31%, exceeded commitment.
• Jinjiang Maintenance 81% equity: Actual net profit RMB 7.6762 million, completion rate 109.28%, exceeded commitment.

Conclusion: All assets exceeded commitments; no compensation required from commitment parties.

4. Accounting Firm and Financial Advisor Opinions

DaXin CPA and independent financial advisors confirmed the performance completion is true, accurate, and complete; post-restructuring operating results are excellent.

5. Impact on Investors and Shareholders

• After asset restructuring, the company’s profitability significantly improved. 2025 net profit far exceeded commitments, expected to enhance competitiveness and shareholder returns.
• Strict compensation arrangements protect shareholders and reduce performance risk.
• Asset restructuring and performance outperformance may be viewed as positive by the market, potentially boosting share price.
• Performance commitments continue through 2026; investors should monitor ongoing results.

6. Potential Share Price Impact

The announcement shows post-restructuring company performance is strong, with net profits far above commitments. This positive news may increase market confidence and drive share price higher. Investors should monitor ongoing business performance and future commitment fulfillment.

Disclaimer

This article is for reference only and does not constitute investment advice. Investors should make decisions prudently according to their own circumstances and risk tolerance. Actual business and market performance may be affected by various factors; please follow subsequent disclosures and announcements.

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