国产大飞机进入放量时期？中国商飞获440亿元巨额增资

Core Insights - The recent capital increase of 44 billion RMB for China Commercial Aircraft Corporation (COMAC) signals a critical phase for the C919 aircraft as it prepares for large-scale deliveries [1][2] - The registered capital of COMAC has surged from approximately 50.1 billion RMB to about 94.1 billion RMB, marking an increase of around 88% [1] - The State-owned Assets Supervision and Administration Commission (SASAC) contributed 24.997 billion RMB, raising its stake to 53.08%, achieving absolute control [1] Shareholder Contributions - Eight out of nine shareholders participated in the capital increase, with notable contributions from China Aluminum Group (28.02 billion RMB), China National Building Material Group (26.50 billion RMB), and China Electronics Technology Group (17.28 billion RMB), resulting in increased ownership percentages [1] - Other five companies saw a decrease in their shareholding ratios despite some increasing their investment, such as Shanghai Guosheng Group, which invested 8 billion RMB but saw its stake drop from 20.91% to 19.64% [2] - China National Aviation Industry Group, China Baowu Steel Group, and China Guoxin Holdings also reduced their stakes following their respective investments [2] Company Background and Recent Developments - COMAC, established in March 2008 and headquartered in Shanghai, is the core entity for implementing China's major aircraft projects, including the C919 and C909 aircraft [2] - The C919 has recently entered commercial operations, with the first delivery to China Eastern Airlines in December 2022 and successful commercial flights starting in May 2023 [2] - As of now, 26 C919 aircraft have been delivered, operating over 30 routes and achieving a cumulative passenger volume exceeding 2 million in just over two years of commercial operation [2]