Orient Securities·2026-03-06 10:24Investment Rating - The industry investment rating is maintained as "Positive" [6] Core Insights - The recent government work report has elevated the status of the aviation industry to that of a "new pillar industry," indicating a significant increase in national emphasis on aviation and its importance to the economy [8] - The focus of the 14th Five-Year Plan will shift towards "scale production" and "series development" of large aircraft, with expectations for accelerated industry growth [8] - Key components such as the C919 aircraft's production capacity and supply chain development are expected to advance, particularly in the areas of domestic engines and onboard systems [8] Summary by Sections Government Work Report - The report introduced new references to aviation, upgrading its classification from "emerging industry" to "new pillar industry," reflecting a stronger policy drive for the sector [8] Investment Recommendations and Targets - The report suggests that the domestic large aircraft and core system construction are likely to accelerate, with a positive outlook on aviation engines and onboard equipment systems [3] - Recommended stocks include: - AVIC Engine (600893, Not Rated) - AVIC Onboard (600372, Buy) - Jianghang Equipment (688586, Not Rated) - AVIC Control (000738, Not Rated) - AVIC Technology (600391, Not Rated) - Huaqin Technology (688281, Buy) [3]