Avicopter (600038) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 was RMB 9.01 billion, down 12.05% year-over-year due to lower product deliveries.

• Net profit attributable to shareholders was RMB 187.52 million, a 33.58% decrease year-over-year.

• The company focused on production management, supply chain optimization, and risk control amid challenging market conditions.

• R&D and innovation in low-altitude economy, eVTOL, and unmanned aerial vehicles were prioritized.

Financial highlights

• Operating income: RMB 9.01 billion, down 12.05% year-over-year.

• Net profit attributable to shareholders: RMB 187.52 million, down 33.58% year-over-year.

• Operating cash flow: RMB 2.58 billion, a significant improvement from negative RMB 7.41 billion in H1 2025.

• Basic and diluted EPS: RMB 0.2287, down 33.58% year-over-year.

• Gross margin remained stable despite revenue decline.

Outlook and guidance

• The company is aligned with national strategies for the low-altitude economy and aims to expand in emerging aviation sectors.

• Focus remains on high-quality development, product innovation, and market expansion.