Gelonghui, August 27 | Xirui (02507.HK) announced that revenue for the six months ended June 30, 2024 was 0.475 billion US dollars, an increase of 11.6% year-on-year, mainly due to increased aircraft deliveries, increased aircraft pricing, and improvements to the company's XiRui service and other revenue streams (including a rich range of ancillary products and services covering a wide range of services and product experiences, including but not limited to after-sales parts sales, service sales, warranty sales and training sales, and revenue from related parties, “Xirui Service and others”) Achieve services that tend to have high profit margins. Profit increased by about 23.6% year over year to approximately $35.6 million. Earnings per share were $0.11.
In the first half of 2024, the company launched the 7th generation (G7) of the SR2X series, which has been the best-selling single-engine piston model aircraft in the world for 22 consecutive years. The G7 series introduces many valuable improvements over previous generations, including a refreshed interior and upgraded avionics, just like the Vision Jet series, which has been the best-selling commercial jet in the world for the past six consecutive years.
Since then, the total net orders for the company's SR2X and Vision jets have increased from 255 units in the 6 months ended June 30, 2023 to 362 units in the 6 months ended June 30, 2024, an increase of 107 units. This growth is due in part to the launch of the G7 series and the continuation of the product ladder between the two product lines and the growing ecosystem around owning experiences.