AECC AVIATION POWER (600893) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 was RMB 22.91 billion, down 11.73% year-over-year.

• Net profit attributable to shareholders was RMB 108 million, a decrease of 85.13% year-over-year.

• Third quarter net profit dropped 87.69% compared to the same period last year.

• Significant declines in profitability were attributed to lower revenue, higher R&D and financial expenses, and increased credit impairment losses.

Financial highlights

• Operating income for Q3 was RMB 8.81 billion, up 18.97% year-over-year.

• Total profit for Q3 was RMB 66.92 million, down 64.79% year-over-year.

• Basic and diluted EPS for the first nine months were RMB 0.04, down 85.19% year-over-year.

• Net cash flow from operating activities for the first nine months was negative RMB 8.47 billion, a 50.99% improvement year-over-year.

• Total assets at quarter-end were RMB 127.36 billion, up 9.87% from year-end 2024.

Outlook and guidance

• Management cited ongoing challenges from delayed receivables, increased R&D, and financial costs.

• No explicit forward guidance was provided, but the company is focused on managing costs and improving cash flow.