国防军工周报：C919有望明年获EASA认证，ARJ21短窄跑道起降获成功验证

Investment Rating - The investment rating for the defense and military industry is "Positive" (maintained) [1]. Core Insights - The defense and military industry index experienced a decline of -2.02% over the past week, ranking 23rd out of 31 in the Shenwan first-level industry classification. Over the past month, the index decreased by -0.37%, ranking 8th, and over the past year, it fell by -15.23%, ranking 11th [4][10]. - The current Price-to-Earnings (PE) ratio for the defense and military industry is 46.33, which is in the 1.95% percentile of the past ten years. The PE ratios for related sectors are as follows: aviation equipment at 40.10 (3.29% percentile), aerospace equipment at 89.40 (60.53% percentile), marine equipment at 90.00 (24.14% percentile), military electronics at 42.43 (10.43% percentile), and ground armaments at 33.77 (1.36% percentile) [4]. - Notable stock performances in the defense and military sector over the past week include: Zhongguang Optical (+14.20%), Jieqiang Equipment (+13.67%), and Xinyu Guoke (+7.46%). Conversely, stocks that performed poorly include: Guangqi Technology (-5.58%), Haitai High-tech (-5.62%), and Lijun Shares (-11.73%) [4]. Industry Data Tracking - The price of sponge titanium (≥99.6%) is currently 47 RMB/kg, down 1.05% from last week, and down 10.13% from last year. The price of BOCE electrolytic nickel is 73.3 RMB/kg, unchanged from last week, and down 9.51% from last year. Domestic acrylonitrile is priced at 8000 RMB/ton, down 4.76% from last week and down 1.84% from last year [5][29]. - The Baltic Dry Index (BDI) is currently at 1691, up 1.26% from last week, down 12.92% from last month, and up 37.15% from last year. The crude oil transportation index (BDTI) is at 936, up 1.52% from last week, down 11.20% from last month, and up 16.13% from last year [32]. Industry News - The C919 aircraft is expected to receive European certification next year. The ARJ21 successfully completed a demonstration validation task on a short and narrow runway in Indonesia [44]. - The successful launch of the Remote Sensing Satellite No. 43 on August 16, 2024, marks a significant achievement for the industry, as it is intended for low-orbit constellation system technology testing [44].