A flagship manufacturer in China aviation industry with a completed value chain for civil aviation products
A platform of China aviation industry for overseas financing, merger and acquisition
In November 2008, China aviation industry completed a historic reorganization and established Aviation Industry Corporation of China (“AVIC”). The reorganized AVIC, listed in the World Top 500 in 2009, becomes the controlling shareholder of AviChina, which could provide stronger support and further broad prospects for the development of AviChina.
AVIC has a registered capital of RMB64 billion, holds a completed aviation industry chain comprising research and development, manufacturing, marketing and services, employs the art-of-the-edge technologies and top human resources in China and has assets of RMB300 billion in total. In 2008, AVIC recorded a revenue of RMB166 billion in total. The development strategy of AVIC can be summarized as “two merges-into, three new core competences, five aspects for development and one trillion target”. “Two merges-into” means merging into world aviation industry chain and merging into the regional economic circle. “Three new core competences” refers to creating brand value, innovating business model and building an integrated network. “Five aspects for development” involves promoting reform towards marketization, specialized reorganization, capitalized operation, international expansion and industrialization. “One trillion target” means striving to attain an economy of RMB1 trillion in 2020.
With supports from AVIC, AviChina will continuously upgrade its technologies and management through international cooperation, and enlarge its capital and market value by operations in overseas capital markets and is heading for AVIC’s flagship manufacturer with a completed value chain for civil aviation products as well as a platform for overseas financing, merger and acquisition.
AviChina will stick to the idea as “dedication, honest, innovation and exceeding”, continue to improve its management system and supervision, enhance management and standardize operations, promote efficiency so as to return to our shareholders and the society.