Core Viewpoint - After three years of aircraft being stranded in Russia, the A-share listed company Shanhe Intelligent has received insurance compensation amounting to $29 million, with a net amount of $22.9651 million after deducting legal fees [2][5]. Group 1: Insurance Compensation Details - Shanhe Intelligent's subsidiary AVMAX reached an agreement with insurance underwriters, confirming a total insurance claim of $29 million, with a net payout of $22.9651 million [2][5]. - The insurance compensation, after tax deductions, is expected to impact the company's net profit by approximately 126 million yuan, representing 172.92% of the company's audited net profit for the previous year [2][5]. Group 2: Aircraft Leasing and Operations - AVMAX operates a wide range of aviation services, including aircraft leasing, sales, and charter services, with a fleet of over 100 aircraft, primarily focusing on regional aircraft [3]. - The aircraft involved in the insurance claim were leased to Russian airlines, with contracts signed in 2012 and 2019, and were affected by the Russia-Ukraine conflict, leading to their inability to be recovered [3][5]. Group 3: Industry Context and Other Companies - Other Chinese leasing companies have also faced losses due to aircraft being stranded in Russia, with some receiving insurance payouts while others have not been able to recover their aircraft [6][10]. - Companies like Dongfang Precision and Guoyin Financial Leasing have reported significant impairment losses related to their aircraft stranded in Russia, with some successfully negotiating insurance claims [9][10].

Core Viewpoint - The company, SANY Heavy Equipment, has shown a significant increase in stock price and trading volume, indicating positive market sentiment and investor interest [1][2]. Group 1: Stock Performance - On August 14, SANY Heavy Equipment's stock price increased by 5.69%, reaching 20.42 CNY per share, with a trading volume of 4.23 billion CNY and a turnover rate of 20.21% [1]. - The total market capitalization of the company is 21.944 billion CNY [1]. Group 2: Company Overview - SANY Heavy Equipment is located in Changsha Economic and Technological Development Zone and focuses on the research and manufacturing of engineering equipment, special equipment, and aviation equipment [1]. - The company has developed over 400 products with independent intellectual property rights and exports to 90% of countries and regions worldwide [1]. Group 3: Financial Performance - As of July 31, SANY Heavy Equipment had 178,200 shareholders, with an average of 6,020 circulating shares per shareholder [2]. - For the first quarter of 2025, the company reported a revenue of 1.513 billion CNY, a year-on-year decrease of 8.96%, while the net profit attributable to shareholders was 32.4595 million CNY, reflecting a year-on-year increase of 57.31% [2].

Market Performance - The engineering machinery sector rose by 0.38% on August 13, with Tianyuan Intelligent leading the gains [1] - The Shanghai Composite Index closed at 3683.46, up 0.48%, while the Shenzhen Component Index closed at 11551.36, up 1.76% [1] Individual Stock Performance - Tianyuan Intelligent (603273) closed at 21.80, up 9.99% with a trading volume of 189,900 shares and a transaction value of 405 million yuan [1] - Shanhai Intelligent (002097) closed at 19.32, up 6.21% with a trading volume of 3.3 million shares and a transaction value of 6.2 billion yuan [1] - Other notable performers include Southern Road Machinery (603280) up 5.99%, Weiman Intelligent Sealing (301161) up 5.07%, and Zhejiang Dingli (603338) up 2.66% [1] Fund Flow Analysis - The engineering machinery sector experienced a net outflow of 303 million yuan from institutional funds and 326 million yuan from speculative funds, while retail investors saw a net inflow of 629 million yuan [2] - Tianyuan Intelligent had a net inflow of 1.08 billion yuan from institutional funds, but a net outflow of 56.37 million yuan from speculative funds [3] - Xugong Machinery (000425) saw a net inflow of 83.47 million yuan from institutional funds, while retail investors had a net outflow of 93.89 million yuan [3]

Core Viewpoint - The military industry sector has become a popular focus in the A-share market, with multiple concept stocks experiencing significant increases due to preparations for the "9.3 Military Parade" and ongoing geopolitical risks from conflicts such as Russia-Ukraine and Israel-Palestine [1] Group 1: Market Dynamics - The recent surge in military stocks is driven by three main factors: the upcoming Army Day and military parade expectations, a new cycle of global military spending expansion, and the potential for increased asset securitization rates among state-owned military enterprises due to deepening reforms [1] - The Shanghai Cooperation Organization's defense ministers' meeting in Qingdao, where multiple ministers visited China's 052D destroyer, has further strengthened market expectations regarding China's military equipment export potential [1] Group 2: Company Responses and Developments - Companies like Shanhai Intelligent are currently focused on domestic military equipment delivery and are actively developing products suitable for military trade [2] - Tianhe Defense exports military products through military trade companies, adhering to national military trade policies [4] - Guangdong Hongda is engaged in both domestic and international military trade markets, focusing on traditional and smart munitions [6] - Zhongtian Rocket has military trade products, including small guided rockets, exported to Middle Eastern countries [8] - Aerospace Rainbow reports a historical high in foreign trade product orders, with its drones being well-regarded internationally for their performance and cost-effectiveness [15] - AVIC Shenyang Aircraft has established a military trade development committee to enhance its military trade operations and align with national strategies [17] - Huachang Technology has signed military trade export orders for 2025 and is actively organizing production [19] - Companies like Optoelectronics Co. are focusing on maintaining military trade as a vital part of their defense industrial economy, with plans to enhance their professional military trade teams and product promotion [21]

山河智能收到了来自保险公司的赔偿，因为其全资子公司AVMAX曾与俄罗斯客户签订三份飞机租赁合 同。自2022年2月地缘政治冲突以来，尽管AVMAX多次尝试召回上述租赁在俄罗斯的飞机，但未能成 功收回。近日，AVMAX与飞机保险承保人就赔付方案达成一致意见，确认可从保险承保商获得的保险 理赔款为2900万美元，扣除律师费用等后的保险赔付款净额为2296.51万美元。截至目前，AVMAX已全 额收到这笔款项，折算人民币约1.64亿元。保险赔付款项扣税后对公司净利润影响金额为1.26亿元，会 计核算计入营业外收入，占公司上一年度归母净利润的172.92%。 | 飞机序列号 | 合作开始日期 | 合同到期 | 合作终止 | 租期内合同金额 | 租期 | | --- | --- | --- | --- | --- | --- | | | | 日期 | 日期 | (万新西兰元) | | | MSN25731 | 2018年8月 | 2024年11月 | 2022年3月 | 2, 572. 83 | 6年零70天 | | NSN25696 | 2019年1月 | 2025 年4月 | 2022年3月 | 2, 572. 8 ...

Group 1 - The company currently has no business dealings with Shanhe Intelligent, a manufacturer of shield tunneling machines [2]

Core Viewpoint - The article discusses the recent insurance compensation received by Shanhe Intelligent (山河智能) for aircraft that could not be recovered from Russia due to geopolitical conflicts, highlighting the broader impact on the aircraft leasing industry and the financial implications for companies involved [3][5]. Group 1: Insurance Compensation - Shanhe Intelligent's subsidiary AVMAX received a total insurance compensation of $29 million, with a net amount of $22.97 million after legal fees [4][5]. - The insurance payout, after tax deductions, is expected to impact the company's net profit by approximately 126 million yuan, accounting for 172.92% of the previous year's net profit attributable to shareholders [5]. Group 2: Aircraft Leasing Challenges - AVMAX had previously fully impaired the value of the three aircraft involved, indicating that the insurance compensation is a non-recurring gain [6]. - Other companies, such as Rifa Precision Machinery (日发精机), also face challenges with aircraft stranded in Russia, having reported significant impairment losses due to the inability to recover their leased aircraft [6][8]. Group 3: Broader Industry Impact - Many Chinese leasing companies have encountered similar issues with aircraft stranded in Russia, leading to substantial impairment losses [9]. - The overall leasing business in Russia represents a small portion of the leasing companies' operations, but the rising global aviation market and supply chain issues are leading to increased rental prices for aircraft [10][11]. - Rental rates for narrow-body aircraft have increased by 20%-30% compared to 2019, with expectations of continued growth in 2025 due to ongoing production delays from manufacturers [11][13].

Core Viewpoint - The company Shanhai Intelligent (山河智能) has received an insurance compensation of approximately 164 million RMB due to the inability to recall aircraft leased to Russian clients, highlighting the ongoing challenges faced by the aviation leasing industry in the context of geopolitical tensions [1][2]. Company Summary - Shanhai Intelligent's subsidiary Avmax Group Inc. (AVMAX) has been unable to recover three aircraft leased to Russian clients since February 2022, despite multiple attempts [2]. - AVMAX has reached an agreement with the insurance provider for a compensation of 29 million USD, with a net payout of approximately 22.97 million USD, equivalent to about 164 million RMB after currency conversion [2]. - The insurance compensation represents a non-recurring gain for AVMAX, as the company had previously fully impaired the value of the leased aircraft [2]. Industry Summary - Several domestic aviation leasing companies, including Zhongyin Aviation Leasing and Guoyin Financial Leasing, have also faced similar issues with aircraft stranded in Russia, leading to significant financial losses and insurance claims [4][5]. - Zhongyin Aviation Leasing terminated leases for 18 aircraft with Russian airlines, resulting in a 791 million USD asset impairment, and has since received approximately 258 million USD in insurance claims for 11 of the stranded aircraft [4]. - Guoyin Financial Leasing reported a total impairment loss of 2.414 billion RMB for 9 aircraft stranded in Russia and has received insurance compensation totaling 1.562 billion RMB for 5 of those aircraft [5]. - Bohai Leasing has also disclosed a 298 million USD impairment due to 10 aircraft remaining in Russia, with a subsequent settlement of approximately 177 million USD received [6]. - Some companies, like Airwork Holdings Limited, have resorted to legal action against insurance providers due to unresolved compensation claims for aircraft that remain in Russia [7].

总体来看，中资租赁公司对俄罗斯的租赁业务占比不大，而随着全球航空市场的回暖，租赁公司也在"享受" 因飞机供应受限而带来的其他市场租金上涨。 3架租赁给俄罗斯的飞机无法收回多年后，山河智能（002097）收到了来自保险公司的赔偿。 8月11日晚，山河智能发布公告称，公司全资子公司AVMAX曾与俄罗斯客户签订三份飞机租赁合同，自2022年2月地缘政治冲突以来，AVMAX多次尝试召 回上述租赁在俄罗斯的飞机，尽管已持续进行交涉与回收操作，仍无法成功收回涉事飞机。 | 飞机类型 | 序列号 | 承租方 | 合同开始日期 | | | --- | --- | --- | --- | --- | | DHC-8-300 | 443 | Yakutia Airlines | 2019 年 7 月 18 日 | 21 | | DHC-8-200 | વર્તવ | Aurora JSC | 2012 年 3 月 1 日 | 21 | | DHC-8-200 | 457 | Aurora JSC | 2012 年 3 月 1 日 | 21 | 近日，AVMAX与飞机保险承保人就赔付方案达成一致意见，确认AVMAX可从保险承保商获 ...

【#一公司飞机滞俄4年后收到1.6亿赔款#，这些受损公司也在追讨、起诉】租赁出去的飞机无法召回， 山河智能（002097.SZ）最近收到了保险赔付款，金额折算人民币1.64亿元。 根据披露，山河智能名下的子公司，曾与俄罗斯客户签订三份飞机租赁合同，从2022年2月以来，虽然 持续进行交涉与回收尝试，但仍无法成功收回涉事飞机。近日，这家子公司与飞机保险承保方，就赔付 方案达成了一致。 除了山河智能，国内多家经营航空租赁的租赁公司及飞机租赁商，都有租赁给俄罗斯客户的飞机无法取 回。其中不少机构当年就计提了减值，同时向保险公司索赔。4年来，部分租赁公司或飞机租赁商收到 了保险赔款、部分收回了飞机，也有一些出租方至今还在与保险公司对簿公堂。 ...