AviChina Industry & Technology
{{Short description|Chinese aviation company}}
{{Use dmy dates|date=September 2024}}
{{Infobox company
| name = AviChina Industry & Technology Company Limited
| native_name = 中国航空科技工业股份有限公司
| logo = AviChina Industry & Technology.png
| image =
| image_caption =
| former_name =
| type = Public subsidiary
| traded_as = {{HKEX|2357}}
| foundation = {{start date and age|df=y|2003|04|30}}
| location = Beijing, China
| founders =
| key_people = Yan Lingxi (Chairman)
Sun Jizhong (CEO)
| revenue = {{Increase}} {{CNY|link=yes|84.73 billion}} (2023)
| net_income = {{Increase}} {{CNY|link=yes|6.69 billion}} (2023)
| assets = {{Increase}} {{CNY|link=yes|185.02 billion}} (2023)
| equity = {{Increase}} {{CNY|link=yes|88.06 billion}} (2023)
| owner = Aviation Industry Corporation of China
| num_employees = 74,584 (2023)
| industry = Aviation
| parent = Aviation Industry Corporation of China
| subsid = AVIC Jonhon Optronic Technology
| homepage = {{URL|www.avichina.com}}
}}
AviChina Industry & Technology (AviChina; {{Zh|c=|p=Zhōngháng Kēgōng|s=中航科工}}) is a partially state-owned publicly listed aviation company headquartered in Beijing. It primarily is involved with aircraft manufacturing, supplying aviation Ancillary Systems and providing aviation engineering services.
The company is a subsidiary of the Aviation Industry Corporation of China (AVIC).
Background
AviChina was established on 30 April 2003. It was previously the civil unit of China Aviation Industry Corporation II. As of 2003 it was the largest minicar maker in China with a 41 percent market share as well as the only domestic mass producer of helicopters and regional jets in China. Although the car business made up 80% of its revenue in the previous year it expected its aircraft assembly business to drive future growth. AviChina held 49 percent of a joint venture with Embraer to build jets in China. It also had partnerships with Sikorsky Aircraft and Eurocopter to make helicopters
On 30 October 2003, AviChina held its initial public offering becoming a listed company on the Hong Kong Stock Exchange. It raised US$247 million.{{Cite web |date=13 October 2003 |title=AviChina to raise up to $247 million in IPO |url=https://www.autonews.com/article/20031013/REG/310130784/avichina-to-raise-up-to-247-million-in-ipo |website=Automotive News}}
For 2007, AviChina reported a loss of 1.03 billion yuan due to a bigger deficit at its vehicle division and decline in margins at its helicopter unit. Its vehicle division consisted of two units, Hafei Automobile and Changhe.{{Cite web |last=So |first=Charlotte |date=12 April 2008 |title=Car unit pushes AviChina losses to 1b yuan |url=https://www.scmp.com/article/633454/car-unit-pushes-avichina-losses-1b-yuan |access-date=28 September 2024 |website=South China Morning Post |language=en}} In 2009, AviChina became a purely aeronautical company after it sold Hafei to its parent AVIC in exchange for its avionics electronics business and spunoff Changhe.{{Cite web |last=Ng |first=Eric |date=25 February 2012 |title=AviChina gets HK$698m in institutional share sale |url=https://www.scmp.com/article/993636/avichina-gets-hk698m-institutional-share-sale |access-date=28 September 2024 |website=South China Morning Post |language=en}}{{Cite web |date=29 July 2008 |title=China Aviation Industry Group to split arms' car assets |url=https://autonews.gasgoo.com/m/7234.html |access-date=28 September 2024 |website=autonews.gasgoo.com}} In 2010, AviChina management said it intended to gradually buy all of its parent's aviation equipment operations.
In April 2018, Bloomberg News reported that AviChina was one of the best performing stocks in Asia. From the start of February to April it had risen 40% which put it at the top of the MSCI Asia Pacific Index that fell more than 6 percent in that time. Due to tensions in China–United States relations there was renewed investors’ interest in Chinese defense stocks. Its military revenue outpaced profits from general-purpose lightweight aircraft used for cargo transport and crop seeding. Airbus was a significant shareholder with a 11.7% stake.{{Cite news |last=Servando |first=Kristine |date=9 April 2018 |title=Asia's Hottest Stock Is a Bet on China's Military Expansion |url=https://www.bloomberg.com/news/articles/2018-04-09/asia-s-hottest-stock-is-a-bet-on-china-s-military-expansion |access-date=28 September 2024 |work=Bloomberg.com |language=en}}
In January 2023, Norway's sovereign wealth fund, Norges Bank Investment Management said it had divested from AviChina for selling light aeroplanes to military junta-ruled Myanmar.{{Cite web |date=25 January 2023 |title=China, India firms dropped by Norway fund over Myanmar weapons |url=https://www.aljazeera.com/news/2023/1/25/china-india-firms-dropped-by-norway-fund-over-myanmar-weapons |access-date=28 September 2024 |website=Al Jazeera |language=en}}
See also
References
{{Reflist}}
External links
- {{Official website|http://www.avichina.com}}
{{Aircraft manufacturers of China}}
{{Authority control}}
Category:Aircraft manufacturers of China
Category:2003 establishments in China
Category:2003 initial public offerings
Category:Companies based in Beijing
Category:Companies listed on the Hong Kong Stock Exchange
Category:Defence companies of the People's Republic of China