Source: Shanghai Securities News 

On September 16th, Tiancheng Controls(TC) responded to investors’ questions at the company’s Semi-annual Performance Meeting of 2021, saying that TC’s aviation seats are being arranged and installed in the exhibition hall of Aircraft Selection Center in COMAC(Commercial Aircraft Corporation of China). COMAC Selection Center was opened to the public officially, through which global customers of COMAC can visit, experience and order TC’s aviation seats.

It is understood that the COMAC Customer Selection Center in Pudong of Shanghai is the first civil aircraft selection center in Asia, whose main function is to provide customers with the whole aircraft configuration in the form of options through product display and experience, selection technical exchange and evaluation, so as to help customers select the aircraft configuration such as aviation seats and interior that are suitable for actual needs.

Acro Aviation seating Limited in England, a subsidiary of TC, is currently a world-renowned supplier of aviation seats, customers including Boeing and Airbus; it is also a line-assembly aviation seat supplier of Airbus and A-class Excellent Supplier of Airbus. At present, the company's products have obtained Airworthiness Certificates authorized by European Aviation Safety Agency (EASA) and Federal Aviation Administration (FAA). The company has two major series of economy class product structures (S3 series, S6 series) in the Airbus Line-assembly Supplier Catalog, and has established long-term and stable cooperative relationships with many companies such as Air New Zealand, Etihad Airways, U.S. Frontier Air, U.S. Allegiant Air, U.S. Spirit Air, and China Spring Airlines.

As a listed company focusing on the R&D, design and production of various types of vehicle seats, aviation seats, construction machinery seats and child safety seats, Zhejiang Tiancheng Controls Co., Ltd.'s main business scope covers aviation seats, passenger car seats, commercial car seats, construction machinery seats and child safety seats. Since the acquisition of Acro Aviation Seating Limited in England in 2018 and its official entry into the field of aviation seats, TC's aviation seat business has achieved rapid growth. In 2019, TC's aviation seats achieved revenue of RMB 453,000,000, accounting for 31.34% of the total operating revenue during the same period. In 2020, the business revenue of aviation seats declined due to the impact of the pandemic. But in the first half of this year, it has begun to recover, with sales revenue and order quantity increasing significantly. In the first half of 2021, aviation business revenue increased by 11.14% year-on-year.

According to TC, the company has a strong feeling that orders from American Airlines are growing, and it is expected that the aviation seat business will continue to maintain a good growth trend in the second half of this year. (Tao Jun)