证券之星消息，1月28日航空装备板块较上一交易日下跌1.72%，*ST观典领跌。当日上证指数报收于 4151.24，上涨0.27%。深证成指报收于14342.9，上涨0.09%。航空装备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 300395 | 菲利华 | 98.23 | 2.75% | 33.91万 | 32.81亿 | | 688070 | 纵横股份 | 61.49 | 2.65% | 3.64万 | 2.21亿 | | 600316 | 洪都航空 | 41.40 | 0.90% | 15.99万 | 6.63亿 | | 605123 | 派克新材 | 117.82 | 0.45% | 6.82万 | 8.01亿 | | 300424 | 航新科技 | 19.18 | 0.21% | 15.96万 | 3.11亿 | | 000697 | ST炼石 | 9.10 | 0.00% | 9.43万 | 8578.89万 | | 688122 | 西部超导 | 90.1 ...

Group 1 - The aerospace sector experienced a morning adjustment on January 26, with the Guozheng Aerospace Industry Index falling by 2.14%. Among the constituent stocks, Zhenxin Technology rose over 7%, while China Satellite and Aerospace Development dropped more than 5% [1] - The Tianhong Aerospace ETF (159241) recorded two consecutive days of gains as of last Friday, with a trading volume of 166 million yuan. It has seen a net inflow of over 20 million yuan in the last two trading days, with a cumulative net inflow of over 62 million yuan in the past five trading days and 170 million yuan in the last ten trading days [1] - The Tianhong Aerospace ETF closely tracks the Guozheng Aerospace Industry Index, which covers sub-sectors such as aerospace equipment, military electronics, and satellite internet, with a high weight of 98.7% in the defense and military industry category [1] Group 2 - The third Beijing Commercial Aerospace Industry High-Quality Development Promotion Conference was held on January 23, launching six platforms under "Beijing Rocket Street" aimed at accelerating major project construction and forming a comprehensive "thousand-star production capacity" [2] - According to Guojin Securities, the global aerospace industry is undergoing structural changes similar to the Age of Exploration, driven by the rise of commercial aerospace companies like SpaceX. China's commercial aerospace is transitioning from a policy incubation phase to an industrial explosion phase, with 2026 expected to be a pivotal year for the industry [2]

Core Insights - The report emphasizes the ongoing prosperity in the commercial aerospace and military sectors, highlighting opportunities in overseas markets and the importance of technological advancements in the industry [2][3] Group 1: Industry Overview - The commercial aerospace sector is experiencing upward momentum, driven by SpaceX's advancements in reusable rocket technology, which could reduce space access costs by 100 times [13] - The military aviation sector is expected to benefit from increased demand for large aircraft and military trade, with significant growth anticipated in 2026 [14] - The report identifies a focus on supply chain reforms and the integration of AI technologies as key trends shaping the future of the defense and aerospace industries [15] Group 2: Investment Recommendations - The report recommends companies that align with the "S-curve" evolution, focusing on supply chain reforms and automation, including firms like航发动力 (Aero Engine Corporation) and 中航沈飞 (AVIC Shenyang Aircraft Corporation) [15] - Companies positioned for expansion in military trade and civil aviation, such as 国睿科技 (Guorui Technology) and 中国动力 (China Power), are highlighted for their growth potential [15] - Emerging industries like commercial aerospace, AI, and quantum computing are also recommended, with firms like 睿创微纳 (Ruichuang Micro-Nano) and 菲利华 (Feilihua) noted for their innovative capabilities [15] Group 3: Company Valuations and Financial Analysis - 航发动力 (Aero Engine Corporation) is projected to have a 2025E EPS of 0.22 CNY, with a PE ratio of 216.82 for 2025 [6] - 中航高科 (AVIC High-tech) is expected to achieve a 2025E EPS of 0.90 CNY, with a PE ratio of 29.16 for 2025 [6] - The report provides detailed financial metrics for various companies, indicating growth in EPS and improvements in PE ratios across the sector, reflecting a positive outlook for the defense and aerospace industries [6]

Core Viewpoint - The A-share market experienced a significant sector rotation, particularly in the large aircraft sector, with major stocks like Changhe Aircraft Industries and others hitting the daily limit up, indicating a collective surge in the industry chain [1] Group 1: Market Movement - The large aircraft sector saw a collective rally with 13 leading stocks reaching their daily limit up, indicating strong investor interest and confidence in the sector [1] - The surge in the large aircraft sector is attributed to recent disclosures from the National Social Security Fund, which revealed new investments in seven leading companies within the large aircraft industry chain [3][4] Group 2: Key Companies and Investments - Chaojie Co., a core supplier of fasteners for the C919 aircraft, was highlighted as a new investment by the social security fund, becoming its sixth-largest shareholder with 670,000 shares [3] - Xice Testing, the only private entity with full-chain aerospace testing qualifications, saw the social security fund increase its holdings to 3.5 million shares, making it the fourth-largest shareholder [3] - Aero Engine Corporation of China (AECC) Technology, a key player in the C919 engine supply chain, attracted new investments from major international banks like Goldman Sachs and UBS [3] - Hangya Technology, a leader in the domestic aviation precision forging blade sector, received new investments from the social security fund, becoming the eighth and ninth largest shareholders [4] - Hongdu Aviation, a core enterprise under AVIC, is the sole supplier of the C919's front and rear fuselage, with the social security fund acquiring 5 million shares [4] Group 3: Industry Developments - The European Union Aviation Safety Agency (EASA) completed the compliance flight test for the C919, providing a positive evaluation that exceeded market expectations and facilitating its entry into the EU market [6] - The CJ-1000A domestic engine has completed extensive testing, resolving previous capacity constraints and is expected to receive certification by the second quarter of 2026 [6] - Predictions indicate that C919's annual production capacity could rapidly increase to 50-70 aircraft by 2027, with plans to raise production from 30 to 60 aircraft in 2026 [7] Group 4: Market Potential - The existing orders for C919 exceed 1,000 aircraft, representing a market scale of 650 billion yuan, with the potential to drive over 2 trillion yuan in value across the supply chain [7] - The Yangtze River Delta region has become a hub for the large aircraft industry, housing over one-third of the national aircraft supply chain suppliers [7] - By 2043, China's civil aviation fleet is projected to reach 10,061 aircraft, making it the largest single aviation market globally, with an expected reception of 9,323 new passenger aircraft over the next 20 years [8]

通用航空板块领跌，下跌1.07%，其中航亚科技下跌5.25%，北摩高科下跌3.12%，航发控制下跌2.7%， 博云新材、中国东航、洪都航空跌超2%。（AI生成） ...

证券代码：600316 证券简称：洪都航空 公告编号： 2026-001 签字注册会计师：龙娇，2009年10月成为注册会计师，2006年8月开始从事上市公司审计，2024年开始 在大信所执业；近三年签署上市公司审计报告情况:6家。 签字注册会计师：王嘉尧，2025年成为注册会计师，2013年开始从事上市公司审计，2025年开始在大信 所执业；近三年签署上市公司审计报告情况:0家。 江西洪都航空工业股份有限公司 关于变更签字注册会计师的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 经公司第八届董事会第五次会议和公司2024年年度股东大会审议通过，公司聘任大信会计师事务所（特 殊普通合伙）（以下简称"大信所"）担任公司2025年度财务报表和内部控制审计机构。有关情况详见公 司于2025年3月29日在上海证券交易所网站披露的《江西洪都航空工业股份有限公司关于续聘会计师事 务所的公告》（公告编号：2025-007）。 近日，公司收到大信所《关于变更江西洪都航空工业股份有限公司签字注册会计师的函》，具体情况如 下： 一、变更签 ...

证券日报网讯 1月22日，洪都航空发布公告称，近日，公司收到大信会计师事务所（特殊普通合伙） （简称"大信所"）《关于变更江西洪都航空工业股份有限公司签字注册会计师的函》。大信所作为公司 2025年度财务报表和内部控制审计机构，原委派麻振兴、刘文文为签字注册会计师为公司提供审计服 务。鉴于原签字注册会计师麻振兴、刘文文阳工作调整，根据大信所《业务质量管理制度》相关规定， 大信所现指派龙娇、王嘉尧为签字注册会计师，负责公司2025年度财务报表及内部控制审计，继续完成 相关工作。 （文章来源：证券日报） ...

证券代码：600316 证券简称：洪都航空 公告编号： 2026-001 江西洪都航空工业股份有限公司 关于变更签字注册会计师的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 经公司第八届董事会第五次会议和公司 2024 年年度股东大会审 议通过，公司聘任大信会计师事务所（特殊普通合伙）（以下简称"大 信所"）担任公司 2025 年度财务报表和内部控制审计机构。有关情况 详见公司于 2025 年 3 月 29 日在上海证券交易所网站披露的《江西洪 都航空工业股份有限公司关于续聘会计师事务所的公告》（公告编号： 2025-007）。 1.人员信息 签字注册会计师：龙娇，2009年10月成为注册会计师，2006年8 月开始从事上市公司审计，2024年开始在大信所执业；近三年签署上 1 市公司审计报告情况:6家。 签字注册会计师：王嘉尧，2025年成为注册会计师，2013年开始 从事上市公司审计，2025年开始在大信所执业；近三年签署上市公司 审计报告情况:0家。 2．独立性和诚信情况 近日，公司收到大信所《关于变更江西洪都航 ...

Core Viewpoint - Hongdu Aviation is a leading player in military trainer aircraft, benefiting from a dual-driven model of aircraft and missile integration, with a target price of 49.4 yuan and a valuation of 130 times by 2027 [1] Group 1: Company Overview - The company is a rare full-spectrum trainer aircraft assembly unit in China, with products including the primary trainer CJ6, basic trainer K8, and advanced trainer L15 [1] - The transformation of the trainer aircraft system from a "three aircraft three levels" model to a "two aircraft two levels" model is expected to drive demand growth [1] Group 2: Industry Trends - The trend of collaborative operations between manned and unmanned aircraft is emerging, and the company possesses the capability for manned-unmanned collaboration, which is expected to yield significant benefits [1] - As a leader in military trainer aircraft, the company's unique position of "factory and institution integration, aircraft and missile integration" is rare in the industry [1]

Investment Rating - The report assigns an "Accumulate" rating for Hongdu Aviation (600316.SH) as a first-time coverage [3]. Core Views - Hongdu Aviation is a leading domestic manufacturer of military training aircraft, benefiting from the rising demand for both training and unmanned aerial vehicles (UAVs) [1][2]. - The company has a comprehensive product line that includes primary, basic, and advanced training aircraft, positioning it uniquely in the market [1][2]. - The global military trade environment is improving, with the company expected to see significant growth in international sales, particularly with its K-8 training aircraft [2][3]. Summary by Sections Company Overview - Hongdu Aviation is recognized as a cradle for training aircraft in China, integrating research, production, and operations, with a focus on both training aircraft and defense products [14]. - The company has undergone asset restructuring to enhance its core competencies in training aircraft and missile production [14][17]. Market Position and Demand - The company is a rare full-spectrum training aircraft assembly unit in China, poised to benefit from the upward trend in the training aircraft and UAV markets [1][2]. - The global demand for training aircraft is increasing, with many countries seeking cost-effective solutions for pilot training [2][45]. Financial Projections - Revenue forecasts for 2025-2027 are projected at 77.0 billion, 119.6 billion, and 159.1 billion RMB, respectively, with year-on-year growth rates of +46.6%, +55.4%, and +33.0% [3][7]. - Net profit forecasts for the same period are 1.2 billion, 2.0 billion, and 2.7 billion RMB, reflecting significant growth rates of +203.8%, +70.4%, and +34.6% [3][7]. Competitive Advantages - The company offers integrated training solutions that include pilot training, ground crew training, and operational support, enhancing its competitive edge in military exports [2][3]. - Hongdu Aviation's "air-to-surface" missile production capabilities provide a significant advantage, simplifying the development and certification processes for military equipment [2][3]. International Sales Growth - The company is expected to achieve a compound annual growth rate (CAGR) of 137% in foreign revenue from 2020 to 2024, indicating a strong position in the international military trade market [2][3][26]. - The K-8 training aircraft has captured a 26.3% market share in the global mid-to-high level training aircraft segment, establishing a solid foundation for future exports [2][3].