-- AVIC Shenyang Aircraft's (SHA:600760) profit fell in the first quarter as revenue slowed down due to some project delays.
The company's net profit attributable to shareholders in the first quarter dropped 62% to almost 165 million yuan from 430.6 million yuan a year earlier, according to a Shanghai bourse filing on Wednesday.
Earnings per share fell 63% year on year to 0.06 yuan from 0.16 yuan.
Profit declined due to the operating revenue dipping 55% to 2.61 billion yuan from almost 5.83 billion yuan in the previous year. The drop was attributed to adjustments in product mixes and delivery schedule impacts.
In November 2025, AVIC Shenyang announced in a Shanghai Stock Exchange filing that the dates of certain projects were moved due to technical delays.
The projects are a titanium alloy production line, which was moved to December instead of January this year, and the usable date of the aircraft maintenance service enhancement project, which was moved to December 2027 from November this year. The first project's rescheduling was caused by delivery delays, while the second one lagged due to the need to upgrade core equipment.
The Chinese aircraft manufacturer, which is under state-owned AVIC, continues to produce fighter jets earlier this year. AVIC announced in Weibo that it hosted the maiden flights of its J-35 carrier-based stealth fighter jet for the year, along with other types of aircraft, according to a Jan. 7 report from the Global Times. The J-35, which was developed to be used for aircraft carrier operations, is the naval variant of the Air Force's J-35A.
Chinese aircraft companies are expected to benefit from the Chinese military's plan to boost its fleet. Recently, the Chinese People's Liberation Army Navy made a teaser, hinting the release of a nuclear-powered aircraft carrier that could help boost its territorial claims amid maritime disputes, according to an April 23 report from Reuters.
The company's shares fell less than 2% during the afternoon trade.