广联航空：持续拓展客户边界，保障业务稳步增长

Core Viewpoint - Guanglian Aviation is actively expanding its business in the commercial aerospace sector through strategic partnerships and acquisitions, aiming to enhance its technological capabilities and market presence in various fields, including drones and gas turbines [1][2][3][4][5] Group 1: Strategic Partnerships and Acquisitions - Guanglian Aviation held a roadshow on December 24, attended by over 20 institutional investors, to discuss its recent partnerships and strategic initiatives [1] - The company signed agreements with the Wenchang International Aerospace City Management Bureau and several industry enterprises during the 2025 Wenchang International Aerospace Forum, aiming to integrate resources and enhance collaboration within the aerospace ecosystem [1] - The acquisition of Tianjin Yuefeng, involving 25.5 million shares (51% of total shares), is a strategic move to strengthen the company's position in the commercial aerospace industry and enhance its technological and production capabilities [2] Group 2: Business Development in Aerospace - Guanglian Aviation is focusing on a diversified and deep customer base in the commercial aerospace sector, aiming to build a core customer matrix covering mainstream rocket models [3] - The company emphasizes three binding strategies for customer cooperation: technical binding through joint R&D, service binding with a full-process service system, and ecological binding by deepening collaboration with upstream and downstream enterprises [3] Group 3: Drone and Gas Turbine Business - In the drone sector, Guanglian Aviation has established a comprehensive layout covering various applications, with military drones currently being the core growth driver [4] - The company is leveraging its high-precision manufacturing and reliability in military drones to expand into civilian applications, focusing on low-altitude economic opportunities [4] - In the gas turbine sector, Guanglian Aviation has achieved scale in core component delivery and is expanding its customer base, driven by domestic aerospace industry upgrades and the transfer of manufacturing expertise from aviation to gas turbines [5]