公司参与了国家批复的多个大型飞机研制项目，是C919大型客机的零部件、成型工装供应商，以及 C929货舱门等零部件及中机身壁板组件装配生产线的供应商，设计并制造了AG600水陆两栖飞机的总 装配生产线，此外还为多种型号军用飞机、航空发动机、燃气轮机、航天器以及无人机研制航空航天配 套产品。 当前行业呈现国产化替代加速、新兴领域崛起的发展趋势，国家政策持续支持先进装备制造与新质生产 力培育，为公司带来多重发展机遇。一方面，传统核心领域需求刚性增长，支撑业务基本面稳定；另一 方面，商业航天、低空经济、深海装备、机器人等新兴领域市场空间持续释放，公司通过提前布局已形 成先发优势，有望充分承接行业增长红利。 广联航空专注于航空航天高端装备的研发、生产、制造，是国内知名的民营航空航天工业配套产品供应 商。产品覆盖军用和民用领域，主要为航空工装、航空航天零部件及无人机产品，其中复合材料工艺装 备、零部件和部段的加工制造技术处于行业领先水平。 广联航空在本次路演活动中介绍，公司秉持"海-陆-空-天"全空间高端装备一体化发展战略，以航空航天 领域积累的核心技术为根基，向新兴领域延伸。布局遵循"技术同源、市场互补、产业协同"原 ...

债券代码：123182 债券简称：广联转债 证券代码：300900 证券简称：广联航空 广联航空工业股份有限公司 投资者关系活动记录表 编号：2025-013 投资者关系 活动类别 特定对象调研 分析师会议 媒体采访 业绩说明会 新闻发布会 路演活动 现场参观 其他（电话会议） 参与单位名称及 人员姓名 1、国金证券：杨晨、任旭欢、蒋文 2、国联民生：樊景扬 3、鹤禧投资：李峥嵘 4、贝塔投资：陈灏 5、交银施罗德：张三维 6、中邮基金：刘星辰 7、汇丰晋信：胡连明 8、融通基金：樊鑫 时间 2025 年 12 月 4 日 地点 上海 上市公司接待 人员姓名 董事会秘书：毕恒恬先生 证券事务专员：刘金昊女士 投资者关系活动 主要内容介绍 一、介绍会议基本情况 刘金昊女士对公司基本情况进行介绍。 二、交流互动环节 交流的主要问题如下： 1、公司核心发展战略与业务布局逻辑是什么？各业务板块 的核心定位与发展优先级如何？ 答：公司秉持"海-陆-空-天"全空间高端装备一体化发展战 略，以航空航天领域积累的核心技术为根基，向新兴领域赛道 延伸。布局遵循"技术同源、市场互补、产业协同"原则，依托 碳纤维复合材料应用、大型 ...

东方证券表示，今年来我国卫星组网进度不断加快，卫星发射频次显著增加；同时民营火箭公司快速崛 起，多家公司进入上市辅导阶段，新火箭研发和可回收技术不断推进。我们认为在政策与资金的双重驱 动下，我国商业航天正迎来发展拐点，火箭与卫星端有望协同共振。 12月3日午后，航空航天ETF（159227）回落后再度拉升，截止13点14分，跌幅收窄至0.17%，成交额达 2.16亿元，稳居同类第一，持仓股上海瀚讯涨超15%，航天发展涨超6%，广联航空、中国卫星、钢研高 纳、航新科技、航宇科技等股跟涨。航空航天ETF最新规模达21.26亿元，为全市场规模最大的航天类 ETF。 消息面上，2025年12月3日中午，蓝箭航天朱雀三号运载火箭从酒泉成功发射，一二级分离正常，二级 成功将载荷送入预定轨道，任务主线达成，但遗憾的是，备受关注的一级火箭垂直回收失败，此次发射 虽未实现"完美回收"，但成功入轨已是中国商业航天向可复用时代迈出的关键一步。 航空航天ETF（159227）紧密跟踪国证航天指数，申万一级军工行业占比高达98.2%，堪称全市场"军工 纯度"最高的指数，覆盖航空装备、航天装备、卫星导航、新材料等关键产业链环节，成分股精 ...

Core Insights - The defense and military industry index increased by 2.85% in the past week, ranking 14th out of 31 in the Shenwan first-level industry [7] - Over the past month, the index decreased by 4.05%, ranking 25th out of 31 [10] - The one-year performance shows a 12.94% increase, ranking 15th out of 31 [18] - The current PE-TTM for the defense and military industry is 77.60, which is at the 73.27 percentile compared to the past ten years, indicating a relatively high valuation level [13][14] - Notable individual stock performances include LeiKe Defense (32.30%), ZhongTian Rocket (21.60%), and HongDa Electronics (14.28%) in the past week [19][29] - The total transaction amount for the defense and military industry reached 378.8 billion yuan, a year-on-year increase of 88.64% [33] - The report suggests focusing on investment themes such as commercial aerospace, military trade, unmanned equipment, military AI, and low-altitude economy [42] Industry and Stock Performance Review - The defense and military industry index performance over the past week, month, and year shows varying trends, with a notable increase in the last week [7][10][18] - Individual stock performance highlights significant gains for top performers and losses for underperformers in the past week [19][29] - The PE-TTM ratios across various sub-sectors indicate differing valuation levels, with aerospace equipment at 77.82 and military electronics at 106.55 [13][14] Funding Situation - The total transaction volume for the defense and military industry reached 378.8 billion yuan, reflecting a strong market activity compared to previous periods [33] - The military ETF fund shares decreased slightly compared to the previous week and month, but showed a significant year-on-year increase [35] Industry News - The launch of the commercial aerospace three-year action plan aims to enhance innovation and resource utilization in the industry [42] - The establishment of a space data center is underway, which will support the development of a large-scale data center system in orbit [43] - The report highlights key developments in the defense and military sector, including significant contracts and partnerships [39][41]

Core Insights - The establishment of a dedicated Commercial Space Administration by the National Space Administration marks a significant step for China's commercial space industry, indicating a move towards specialized regulatory oversight and high-quality development in the sector [1] - China's commercial space industry has seen substantial growth, with over 600 companies currently operating, driven by policy support, technological advancements, and market demand [1] Industry Performance - As of December 1, 2025, the Zhongzheng General Aviation Theme Index (931855) has risen by 2.11%, with notable increases in constituent stocks such as Leike Defense (10.05%), Guangqi Technology (10.01%), and Huali Chuangtong (5.66%) [1] - The General Aviation ETF (561660) has also seen a 2.11% increase, reflecting a strong performance in the general aviation sector [1] Index Composition - The top ten weighted stocks in the Zhongzheng General Aviation Theme Index account for 40.68% of the index, including companies like Aerospace Electronics (3.37%), Haige Communication (2.33%), and China Satellite Communications (2.99%) [2][3] - The index comprises 50 listed companies involved in various aspects of general aviation, including manufacturing, infrastructure, and operations, providing a comprehensive view of the sector's performance [1]

Group 1 - The core viewpoint is that the aerospace industry in China is experiencing significant growth, driven by the establishment of a dedicated regulatory body for commercial aerospace and strong performance in the stock market [1] - The CN5082 aerospace index rose by 1.78%, with notable increases in constituent stocks such as Aerospace Development (000547) up 9.99%, Yaguang Technology (300123) up 8.01%, and Guangqi Technology (002625) up 7.95% [1] - The recent Asia General Aviation Exhibition concluded with a total contract value exceeding 7 billion RMB, involving 837 aircraft [1] Group 2 - The Aerospace ETF (159227) closely tracks the CN5082 index and has a high concentration of military industry stocks, covering key sectors such as aerospace equipment, satellite navigation, and new materials [2] - The ETF includes leading companies in the military sector and encompasses emerging fields like large aircraft development and commercial aerospace [2] Group 3 - Looking ahead to 2026, China Galaxy Securities highlights several trends: the underestimated long-tail effect of military trade, accelerated equipment intelligence, reassessment of supply chain security premiums, and an upcoming phase of demand confirmation and capacity reserve in the military sector [1]

配置航空航天ETF天弘(159241)能够高效捕捉主题投资机会。该ETF的样本公司与低空经济、大飞机、卫星 互联网等热门主题高度契合，成分股深度参与商业航天等新兴领域，受益于政策与市场的双重推动。 【热点事件】 1、北京加快推进太空数据中心建设发展 11月27日，北京市多部门联合组织召开"智绘星空胜算在天——太空数据中心建设工作推进会"，发布太空 数据中心建设规划方案，推出太空数据中心创新联合体，探讨太空数据中心建设应用重难点问题，加快推 进北京太空数据中心建设发展。 根据推进会，北京拟在700-800公里晨昏轨道建设运营超过千兆瓦（GW）功率的集中式大型数据中心系 统，以实现将大规模AI算力搬上太空。 2、2025亚洲通航展珠海圆满落幕 拉长时间看，截至11月28日，航空航天ETF天弘(159241)近22个交易日合计"吸金"8114.55万元。 【产品亮点】 截至2025年11月28日收盘，航空航天ETF天弘(159241)换手13.94%位居同类产品第一，成交7373.32万元， 市场交投活跃。跟踪的国证航天航空行业指数(CN5082)强势上涨1.42%，成分股亚光科技(300123)上涨 13.48% ...

证券之星消息，11月28日航空装备板块较上一交易日上涨0.54%，广联航空领涨。当日上证指数报收于 3888.6，上涨0.34%。深证成指报收于12984.08，上涨0.85%。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) | | | --- | --- | --- | --- | --- | --- | --- | | 300900 | 广联航空 | 18.42 | 6.23% | 20.25万 | | 3.69亿 | | 000697 | *ST炼石 | 8.45 | 4.97% | 5293.0 | | 447.26万 | | 002023 | 海特高新 | 12.21 | 3.91% | 24.72万 | | 3.00亿 | | 920642 | 通易航天 | 15.60 | 3.86% | 7.00万 | | 1.08亿 | | 688070 | 纵横股份 | 52.15 | 3.39% | 1.42万 | | 7276.40万 | | 300775 | 三角防务 | 28.55 | 2.62% | 26.37万 | | 7.53亿 | ...

Core Insights - The commercial aerospace sector is experiencing renewed activity, with the Aerospace ETF (159227) rising by 0.99% and achieving a trading volume of 1.79 billion yuan, making it the top performer in its category [1] - The Aerospace ETF has seen a net inflow for three consecutive days, totaling 1.19 billion yuan, reaching a new high of 20.84 billion yuan, making it the largest aerospace-themed ETF in the market [1] - A meeting on the construction of a space data center was held in Beijing on November 27, focusing on key issues and accelerating the development of the Beijing Space Data Center [1] Industry Developments - The commercial aerospace sector is benefiting from multiple favorable policies, including the issuance of the "Action Plan for Promoting High-Quality and Safe Development of Commercial Aerospace (2025-2027)" by the National Space Administration, which aims to achieve efficient collaboration and significant growth in the industry ecosystem by 2027 [1] - The Aerospace ETF closely tracks the National Aerospace Index, with a high concentration of 98.2% in the military industry, making it the highest purity military index in the market [1] - The ETF covers critical industry chain segments such as aerospace equipment, satellite navigation, and new materials, with a significant focus on emerging fields like large aircraft manufacturing, low-altitude economy, and commercial aerospace, where the commercial aerospace concept accounts for 54% of its weight [1]

Group 1 - GGL Aviation's stock increased by 5.07%, reaching 18.22 CNY per share, with a trading volume of 95.24 million CNY and a turnover rate of 2.34%, resulting in a total market capitalization of 5.414 billion CNY [1] - GGL Aviation, established on February 25, 2011, and listed on October 29, 2020, is located in Harbin, Heilongjiang Province, and specializes in the research, development, production, and manufacturing of high-end aerospace equipment [1] - The company's main business revenue composition includes 57.78% from aerospace components and drones, 41.24% from aviation tooling, and 0.98% from aviation auxiliary tools and others [1] Group 2 - The top circulating shareholder of GGL Aviation is the Guotou Ruijin Fund, which increased its holdings in the Guotou Ruijin National Security Mixed A Fund (001838) by 967,400 shares in the third quarter, now holding 4.8345 million shares, accounting for 2.14% of circulating shares [2] - The Guotou Ruijin National Security Mixed A Fund, established on December 2, 2015, has a current scale of 2.857 billion CNY, with a year-to-date return of 6.46%, ranking 6218 out of 8127 in its category [2] - The fund has achieved a return of 6.9% over the past year, ranking 6193 out of 8059, and a cumulative return of 29.17% since its inception [2]