Group 1 - The company, AVIC Chengfei, stated that it will strictly fulfill its information disclosure obligations [2] - Relevant information will be based on formal announcements published by the company in designated media [2] - The company encourages investors to pay attention to its announcements [2]

Group 1 - The core point of the article highlights the performance of AVIC Aviation Technology Co., Ltd., which saw a 5% increase in stock price, reaching 46.62 CNY per share, with a trading volume of 1.272 billion CNY and a turnover rate of 8.64%, resulting in a total market capitalization of 15.391 billion CNY [1] - AVIC Aviation Technology, established on December 28, 1999, and listed on December 12, 2001, is located in Chengdu, Sichuan Province. The company specializes in the research, development, manufacturing, sales, and service of aircraft engines and gas turbine components [1] - The company's main business revenue composition includes 63.59% from domestic aviation and derivative products, 35.26% from foreign trade outsourcing, and 1.15% from industrial civilian products and others [1] Group 2 - From the perspective of the top ten circulating shareholders of AVIC Aviation Technology, it is noted that a fund under the Fortune Fund ranks among the top shareholders. The Fortune CSI Military Industry Leader ETF (512710) increased its holdings by 809,400 shares, totaling 5.2454 million shares, which accounts for 1.59% of the circulating shares [2] - The Fortune CSI Military Industry Leader ETF (512710), established on July 23, 2019, has a current scale of 14.69 billion CNY. Year-to-date, it has achieved a return of 15.2%, ranking 48 out of 5,580 in its category; over the past year, it has returned 53.83%, ranking 1,089 out of 4,203; and since inception, it has returned 80.05% [2]

Group 1 - The core viewpoint of the news is that China Aviation Engine Technology Co., Ltd. (航发科技) has seen a stock price increase of 5%, reaching 46.62 yuan per share, with a trading volume of 1.272 billion yuan and a turnover rate of 8.64%, resulting in a total market capitalization of 15.391 billion yuan [1] - The company, established on December 28, 1999, and listed on December 12, 2001, is located in Chengdu, Sichuan Province, and specializes in the research, development, manufacturing, sales, and service of aircraft engines and gas turbine components [1] - The main business revenue composition includes 63.59% from domestic aviation and derivative products, 35.26% from foreign trade outsourcing, and 1.15% from industrial civilian products and others [1] Group 2 - From the perspective of fund holdings, one fund under Qianhai Kaiyuan has heavily invested in 航发科技, with the Qianhai Kaiyuan Ocean Mixed Fund (000690) reducing its holdings by 12,800 shares in the third quarter, now holding 624,800 shares, which accounts for 8.38% of the fund's net value, making it the second-largest holding [2] - The Qianhai Kaiyuan Ocean Mixed Fund (000690) was established on July 31, 2014, with a current scale of 212 million yuan, achieving a year-to-date return of 15.41%, ranking 63 out of 9012 in its category, and a one-year return of 73.23%, ranking 667 out of 8157 [2] - The fund manager, Liu Hong, has been in position for 4 years and 308 days, with the fund's total asset size at 1.485 billion yuan, achieving the best return of 77.53% and the worst return of -26.34% during his tenure [3]

Group 1 - Aerospace concept stocks have strengthened, with companies like Guangqi Technology and Aerospace Electronics hitting the daily limit, and AVIC Chengfei rising over 6%, while China Satellite and AVIC High-Tech increased by over 5% [1] - The aerospace-related ETFs have risen approximately 6% due to market influences [1] Group 2 - The Star River Power Aerospace announced plans to implement the "Ceres-1 Sea Launch Type (Remote 7)" commercial launch vehicle mission in the near future. This mission, if successful, could make Star River Power Aerospace the first private aerospace company to complete a launch by 2026, injecting strong momentum into the development of China's private aerospace industry [2] - Analysts believe that with the increasing demand for space computing and the maturation of reusable launch vehicle technology, China's commercial aerospace sector is expected to experience a significant growth inflection point, characterized by reduced costs and enhanced launch capabilities [2]

Group 1 - The aviation sector index experienced a strong rally on January 9, with notable increases in stock prices for several companies [1] - Aviation Power Technology, AVIC Avionics, and Tianhong Co., Ltd. saw their stock prices rise by over 3% [1] - AVIC Shenyang Aircraft Corporation and AVIC Xi'an Aircraft Industry Group both recorded stock price increases of over 2% [1]

Core Viewpoint - The domestic aircraft carrier concept has seen a significant increase of 4.70%, leading the gains among concept sectors, with 33 stocks rising, including notable performers like Hailanxin, which hit a 20% limit up [1][2]. Group 1: Market Performance - The domestic aircraft carrier sector recorded a net inflow of 2.284 billion yuan, with 24 stocks experiencing net inflows, and 8 stocks exceeding 100 million yuan in net inflow [2]. - Hailanxin led the net inflow with 888.7 million yuan, followed by China Shipbuilding, AVIC Aircraft, and AVIC Xi'an Aircraft, with net inflows of 726 million yuan, 525 million yuan, and 281 million yuan respectively [2][3]. - The top gainers in the domestic aircraft carrier sector included Hailanxin (20%), China First Heavy Industries (10.07%), and AVIC Aircraft (9.99%) [1][3]. Group 2: Stock Performance - The stocks with the highest net inflow ratios included AVIC Heavy Industry (43.69%), China First Heavy Industries (38.62%), and Hailanxin (24.87%) [3]. - Other notable performers in terms of daily gains included AVIC Xi'an Aircraft (5.60%), China Shipbuilding (4.09%), and Taihao Technology (7.67%) [1][3]. - Conversely, stocks that experienced declines included Bowei Alloy (-1.04%), Zhenxin Technology (-0.31%), and Haohua Technology (-0.18%) [1][5].

Group 1 - The aircraft carrier industry sector is showing strong performance, with stocks such as Beidou Star Communication, North Navigation, AVIC Aircraft, and Aero Engine Technology leading in gains [1] - Notable stocks in the sector have experienced significant increases in their share prices [1] - The overall market sentiment appears to be positive towards the aircraft carrier industry at this time [1]

Group 1 - The company,航发科技, stated that the number of shareholders will be based on the latest disclosure in the third quarter report of 2025, which is set to be released on October 30, 2025 [1]

Core Viewpoint - The aerospace ETF Tianhong (159241) has seen significant trading activity, reaching a new high since its listing, with a turnover of 20.17% and a transaction volume of 120 million yuan, indicating a vibrant market engagement [1] Product Highlights - The aerospace ETF Tianhong (159241) tracks the National Aerospace Index, with a high defense and military weight of 96.2%, making it the index with the highest military content in the market. The top ten holdings include key suppliers for fighter jets such as AVIC Chengfei, AVIC Shenyang, AVIC Xifei, and Aero Engine Corporation of China [1] Hot Events - Star River Dynamics is set to launch the "Vesta I Sea Launch Type (Remote Seven)" commercial rocket under the mission code "Wanghai Tide" in the near future [1][2] Industry Insights - In 2025, China's aerospace technology group completed 73 space launch missions, setting a historical record. The commercial aerospace sector is entering a new phase driven by technological iteration and industrial implementation, supported by favorable policies and initiatives from local governments [3]

Investment Rating - The report maintains a positive outlook on the civil aviation manufacturing industry, indicating it will become a significant growth area for China's aerospace manufacturing sector [1][5]. Core Insights - The civil aviation manufacturing sector is expected to mirror the success of the U.S. aerospace industry, where commercial aircraft manufacturing is a major source of revenue and profit for companies like Boeing and GE Aviation [2][55]. - The C919 aircraft is set to lead the development of China's civil aviation manufacturing industry, with a production capacity expected to reach 200 units per year by 2029 [3][56]. - The aftermarket for civil aviation in China is projected to be vast, with the country potentially becoming the largest single aviation market globally by 2044 [4][5]. Summary by Sections Civil Aviation Manufacturing Growth - Civil aviation manufacturing in China is anticipated to grow significantly, driven by the C919's commercial operations and the development of a domestic supply chain [1][5]. - The report highlights that the domestic aviation manufacturing industry is beginning to catch up, with a focus on increasing the localization rate of components [3][4]. C919 Aircraft Development - The C919 aircraft, with over 1,000 orders, is expected to enhance production and delivery capabilities, marking a significant milestone in China's aviation history [3][56]. - The aircraft's production model involves a high degree of localization, with over 50% of its components sourced domestically [3][56]. Aftermarket Opportunities - The civil aviation aftermarket in China is projected to expand, with an increase in the number of approved civil aviation products and components [4][5]. - The report notes that the penetration of domestic materials is expected to rise, helping airlines reduce procurement costs and improve supply chain reliability [4][5]. Investment Opportunities - The report suggests focusing on investment opportunities within the civil aviation manufacturing supply chain, including companies involved in aircraft body manufacturing, materials, engines, and onboard equipment [5]. - Key companies mentioned include AVIC Xi'an Aircraft Industry, AVIC Harbin Aircraft Industry, and various suppliers of materials and components [5].