今年以来中航成飞已经2次登上龙虎榜，最近一次登上龙虎榜为5月12日，当日龙虎榜净买入8.98亿元； 买入总计16.58亿元 ，占总成交额比17.02%；卖出总计7.59亿元 ，占总成交额比7.80%。 资料显示，中航成飞股份有限公司位于四川省成都市青羊区黄田坝纬一路88号，成立日期2002年12月25 日，上市日期2010年8月27日，公司主营业务涉及电阻应变计、应变式传感器及汽车综合性能检测设备 等应变电测产品及相关应用系统的研发、生产和销售。主营业务收入构成为：航空产品96.33%，其他 3.67%。 中航成飞所属申万行业为：国防军工-军工电子Ⅱ-军工电子Ⅲ。所属概念板块包括：大飞机、航天军 工、工业4.0、大盘、军民融合等。 截至10月31日，中航成飞股东户数7.35万，较上期增加2.58%；人均流通股7971股，较上期减少2.51%。 2025年1月-9月，中航成飞实现营业收入482.86亿元，同比增长3962.86%；归母净利润21.69亿元，同比 增长2001.33%。 11月3日，中航成飞盘中下跌2.01%，截至10:32，报83.05元/股，成交4.43亿元，换手率0.90%，总市值 2219 ...

Core Viewpoint - The company reported significant growth in Q3 2025, with revenue and net profit showing substantial increases, indicating a recovery in product delivery and strong operational performance [1][2]. Financial Performance - For Q1-Q3 2025, the company achieved revenue of 48.286 billion (+6.19%) and a net profit attributable to shareholders of 2.169 billion (-35.21%), with a non-recurring net profit of 2.110 billion (+2432.1%) [1]. - In Q3 2025, the company recorded revenue of 27.584 billion, a year-on-year increase of 139.04% and a quarter-on-quarter increase of 58.59% [1][2]. - The net profit attributable to shareholders for Q3 2025 was 1.256 billion, up 169.53% year-on-year and 66.11% quarter-on-quarter [1][2]. - The non-recurring net profit for Q3 2025 was 1.255 billion, reflecting a year-on-year increase of 7482.52% and a quarter-on-quarter increase of 73.01% [1][2]. Operational Analysis - The significant revenue growth in Q3 2025 is attributed to the recovery of product delivery schedules [2]. - The gross profit margin for Q3 2025 was 7.37%, a decrease of 0.38 percentage points year-on-year and 1.12 percentage points quarter-on-quarter [2]. - The net profit margin for Q3 2025 was 4.55%, an increase of 0.52 percentage points year-on-year and 0.21 percentage points quarter-on-quarter [2]. - The expense ratio for the period was 2.12%, down 2.27 percentage points year-on-year and 0.55 percentage points quarter-on-quarter, indicating scale effects [2]. Business Outlook - The company has set a revenue target of 80 billion for the full year 2025, with Q1-Q3 revenue accounting for 60.36% of this target, suggesting potential acceleration in Q4 [3]. - The company has developed a comprehensive industrial system, enhancing its industry chain and control capabilities, with subsidiaries covering various aspects of aviation manufacturing and services [3]. - The company has a strong focus on military trade, with increased attention on its military products following recent international conflicts, and has been actively participating in exhibitions and market promotions [3]. Profit Forecast and Valuation - The company is expected to achieve net profits of 3.787 billion, 4.764 billion, and 5.710 billion for 2025-2027, representing year-on-year growth rates of 3272.88%, 25.81%, and 19.85% respectively [4]. - The projected price-to-earnings ratios for the same period are 64, 50, and 42, indicating a favorable long-term strategic positioning in the market [4].

Core Insights - The company, AVIC Chengfei, reported explosive growth in its Q3 2025 performance, showcasing strong operational resilience and high-quality development potential in the aerospace manufacturing sector [2][3]. Financial Performance - In Q3 2025, AVIC Chengfei achieved revenue of approximately 27.584 billion yuan, a significant increase of 139.04% compared to the same period last year [2]. - For the first nine months of 2025, the company recorded cumulative revenue of about 48.286 billion yuan, reflecting a year-on-year growth of 6.19% [2]. - The net profit attributable to shareholders for Q3 reached approximately 1.256 billion yuan, marking a substantial increase of 169.53% year-on-year, with basic earnings per share rising by 176.47% to 0.47 yuan [2]. Profitability Indicators - The company's core profitability indicator, the net profit excluding non-recurring gains and losses, showed remarkable growth, reaching about 1.255 billion yuan in Q3, a staggering increase of 7482.52% year-on-year [3]. - Year-to-date, the net profit excluding non-recurring items was approximately 2.11 billion yuan, up 2432.10% compared to the previous year [3]. Cash Flow and Operational Efficiency - Although the net cash flow from operating activities remained negative, it improved significantly by 78.13% compared to the same period last year, primarily due to an increase in customer contract prepayments [3]. - This positive change indicates good progress in order acquisition and project execution, providing ample funding for future R&D and production expansion [3]. Balance Sheet and Strategic Positioning - The company's total assets grew by 9.12% compared to the end of the previous year, with significant increases in prepayments, contract assets, and other non-current assets, indicating proactive preparations for future product deliveries and production tasks [4]. - The growth in construction in progress reflects ongoing capacity building and upgrades for long-term development [4]. - The company's capital structure has strengthened through asset restructuring and new share issuance, enhancing its financial stability [4]. Shareholder Structure and Market Position - The shareholder structure remains stable, with the top three shareholders, including China Aviation Industry Corporation and its concerted parties, holding a significant proportion of shares, providing solid support for the company's strategic continuity and business stability [4]. - AVIC Chengfei's strong performance in revenue and profit growth, along with improved cash flow, underscores its intrinsic value and positive development trend, positioning it well to capitalize on the ongoing modernization of national defense and sustained demand for aerospace equipment [4].

Core Viewpoint - The military industry sector shows resilience as A-shares decline, with expectations for performance recovery following the release of Q3 reports, leading to increased market attention [1] Group 1: Market Performance - On October 28, A-share indices collectively fell, while the military industry sector rose, indicating its anti-drawdown characteristics [1] - The Aerospace and Defense ETF (159227) has seen a net inflow of funds for eight consecutive days, totaling 282 million yuan, reaching a new high of 1.613 billion yuan in total assets [1] Group 2: Company Performance - AVIC Chengfei (302132) reported Q3 2025 revenue of 27.584 billion yuan, a year-on-year increase of 139.04%, with net profit attributable to shareholders at 1.256 billion yuan, up 169.53% [1] - For the first three quarters, AVIC Chengfei achieved revenue of 48.286 billion yuan, a year-on-year increase of 6.19%, but net profit attributable to shareholders decreased by 35.21% to 2.169 billion yuan [1] Group 3: Industry Outlook - Industrial analysts at Industrial Securities anticipate a favorable Q4 for the defense and military sector, with expectations for improved quarterly performance based on Q3 reports [1] - The upcoming 19th Dubai Airshow in November is expected to enhance the anticipation of high-end equipment orders [1]

Core Viewpoint - 中航成飞 reported a revenue of 48.286 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 6.19% [1] - The net profit attributable to shareholders decreased by 35.21% to 2.169 billion yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses surged by 2432.10% to 2.11 billion yuan [1] - Basic earnings per share stood at 0.81 yuan [1] Financial Performance - Revenue for the first three quarters: 48.286 billion yuan, up 6.19% year-on-year [1] - Net profit attributable to shareholders: 2.169 billion yuan, down 35.21% year-on-year [1] - Net profit after deducting non-recurring gains: 2.11 billion yuan, up 2432.10% year-on-year [1] - Basic earnings per share: 0.81 yuan [1]

Core Insights - The company reported a revenue of 48.286 billion yuan for the first three quarters, representing a year-on-year increase of 6.19% [1] - The net profit attributable to shareholders decreased by 35.21% to 2.169 billion yuan [1] - The net profit excluding non-recurring gains and losses was 2.1 billion yuan, showing a significant year-on-year increase of 2,432.10% [1] Financial Performance - Revenue for the first three quarters: 48.286 billion yuan, up 6.19% year-on-year [1] - Net profit attributable to shareholders: 2.169 billion yuan, down 35.21% year-on-year [1] - Net profit excluding non-recurring items: 2.1 billion yuan, up 2,432.10% year-on-year [1]

Group 1 - The company AVIC Chengfei (SZ 302132) announced on October 28 that it will reverse various asset impairment provisions amounting to approximately 62.44 million yuan for the third quarter of 2025, which will increase the company's consolidated profit for the same period by the same amount [1][1][1] - As of the announcement, AVIC Chengfei's market capitalization stands at 240.5 billion yuan [1][1][1] Group 2 - The A-share market has surpassed 4000 points, marking a significant resurgence after a decade of stagnation, with technology leading the market's transformation and a new "slow bull" pattern emerging [1][1][1]

证券代码：302132 证券简称：中航成飞 公告编号：2025-071 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 中航成飞股份有限公司（以下简称"公司"）于 2025 年 10 月 27 日召开第 八届董事会第七次会议，审议通过了《关于公司 2025 年第三季度计提及转回资 产减值准备的议案》，根据《深圳证券交易所创业板股票上市规则》《上市公司 自律监管指引第 2 号——创业板上市公司规范运作》等相关法律法规的规定，现 将本次计提及转回资产减值准备的具体情况公告如下： 一、本次计提及转回资产减值准备情况 （一）计提及转回资产减值准备的原因 根据《企业会计准则》《深圳证券交易所上市公司自律监管指引第 2 号—— 创业板上市公司规范运作》及公司会计政策、会计估计等相关规定的要求，公司 按季度测试资产减值情况，为了更加真实、准确地反映公司截至 2025 年 9 月 30 日的资产状况和财务状况，公司对应收款项、存货等资产进行了全面清查，对可 能发生资产减值损失的资产计提减值准备。 （二）计提及转回资产减值准备的范围和金额 公司对截至 2025 年 9 月 30 ...

Core Insights - The company reported a third-quarter revenue of 27.584 billion, representing a year-on-year increase of 139.04% [1] - The net profit for the third quarter was 1.256 billion, showing a year-on-year growth of 169.53% [1] - For the first three quarters, the total revenue reached 48.286 billion, reflecting a year-on-year increase of 6.19% [1] - The net profit for the first three quarters was 2.169 billion, which is a year-on-year decline of 35.21% [1]

证券代码：302132 证券简称：中航成飞 公告编号：2025-070 中航成飞股份有限公司 第八届董事会第七次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 中航成飞股份有限公司（以下简称"公司"）于 2025 年 10 月 16 日以电子 邮件方式向全体董事送达了关于召开第八届董事会第七次会议（以下简称"会议"） 的通知，会议于 2025 年 10 月 27 日以现场和通讯相结合的方式召开。会议应参 加董事 11 人，实际参加董事 11 人，其中独立董事 4 人。本次会议的召集、召开 和表决程序符合法律法规、规范性文件和《中航成飞股份有限公司章程》（以下 简称"《公司章程》"）的规定。 本次会议由董事长隋少春先生主持，经与会董事充分合议并表决，形成如下 决议： 一、审议通过了《关于公司<2025 年第三季度报告>的议案》 同意公司《2025 年第三季度报告》。 本议案已经董事会审计委员会审议通过。 表决结果：有效表决票数 11 票，同意 11 票，反对 0 票，弃权 0 票。 二、审议通过了《关于公司 2025 年第三季度计提及转回资产减值准 ...