C919飞机载客158~192座，航程4075~5555公里，其先进的驾驶舱设计为飞行员带来良好的飞行体验， 较低的噪声水平和清新的空气质量为旅客带来舒适的乘坐感受。 在本届航展中，中国商飞C919飞机、C909医疗机与印尼翎亚航空C909飞机共同亮相静态展示区。（总 台记者 刘畅 报道员 海月） 来源：央视新闻客户端 0:00 2月3日，在樟宜会展中心举办的2026年新加坡航展上，中国商飞C919进行了飞行表演。 ...

今天起（2月3日），第十届新加坡航展正式拉开帷幕。航空展两年一届，今天至6日对专业观众开放，2 月7日至8日是公众开放日。 按照主办方的安排，中国空军八一飞行表演队将进行多场飞行表演，和多个国家的参展飞机一起，在蓝 天上共舞。据了解，这次飞行表演的起降机场和表演空域是分开的，而且会在海面上空进行。 2月1日，中国空军八一飞行表演队进行了检验性飞行。这是表演队换装歼-10C 后，首次在新加坡亮 相。同一天，来自新加坡、澳大利亚、印度尼西亚等国的飞机，也参加了这次检验性飞行。 中国商用飞机将进行静态展示 据"新加坡航展"官网显示，中国商飞的C909和C919将进行静态展示。在此之前，2024年的新加坡航展 上，两架 C919飞机和3架ARJ21飞机首次亮相，通过馆内模型展览、室外静态展示和飞行表演等多种方 式，向公众呈现了中国商用飞机发展的阶段性成果。 （文章来源：央视新闻） ...

Group 1 - Tesla's third-generation humanoid robot is set to be unveiled, with an expected annual production capacity of 1 million units by the end of 2026, utilizing the Model S/X production line at the Fremont factory [1] - The production ramp-up period for the humanoid robot is anticipated to be longer than that of automotive products due to its independent supply chain and design based on first principles [1] Group 2 - The Chinese Ministry of Industry and Information Technology reported that the value added of the electronic information manufacturing industry above designated size is projected to grow by 10.6% year-on-year in 2025, outpacing the growth rates of the overall industrial and high-tech manufacturing sectors [9] - In December, the electronic information manufacturing industry saw a year-on-year increase of 11.8% in value added, with specific product outputs showing varied trends, such as a decline in mobile phone production [9] Group 3 - Citigroup warned that gold valuations have reached extreme levels, with global gold expenditure as a percentage of GDP soaring to 0.7%, the highest in 55 years, indicating potential risks for gold prices if the allocation ratio returns to historical norms [4] - The report suggests that a collective decline in risk aversion, driven by potential resolutions in geopolitical conflicts and economic improvements, could negatively impact gold prices in the latter half of 2026 [4] Group 4 - Ernst & Young's report highlighted that as of June 2025, there are 42 foreign-funded banks in China, supported by strong capital and international experience, indicating a robust foundation for foreign banks in the Chinese market [5] - The report also noted that by June 2025, there will be 16 foreign-controlled securities companies operating in China, reflecting an accelerated layout of foreign brokerages in the Chinese capital market [5] Group 5 - The Guangdong Provincial Development and Reform Commission issued a plan to optimize the business environment in 2026, encouraging the use of targeted convertible bonds and other payment tools for mergers and acquisitions to enhance industrial chain layout [6] - The plan aims to improve the marketization of property rights transactions and promote the development of carbon emission trading markets [6] Group 6 - Tesla achieved a significant breakthrough in lithium battery production by scaling up the dry electrode manufacturing process, which is expected to reduce costs, energy consumption, and factory complexity while enhancing scalability [7][10]

（编辑 王雪儿） 证券日报网讯 2月2日，金天钛业在互动平台回答投资者提问时表示，公司目前正在积极落实"一体两 翼"战略，推进国际民用航空和国内民用航空市场的双开拓，在国内民用航空方面，公司国产大飞机项 目合格供方认证推进顺利，检测中心已于近期正式获得中国商飞颁发的试验资格证书。该资质的获得， 表明公司在钛合金材料研发、制备及检测评价体系方面满足了中国商飞的严格标准，有助于公司更深入 参与国产大飞机材料配套与验证工作，是公司在民用航空领域取得的一项重要进展。公司将持续推进与 中国商飞等主要客户的协同合作，积极把握民航国产化的发展机遇。 ...

Space X 再申请百万颗卫星，商业航天关注度持续提升 国防军工 证券研究报告/行业定期报告 2026 年 02 月 02 日 Email：mamz@zts.com.cn | 基本状况 | | | --- | --- | | 上市公司数 | 143 | | 行业总市值(亿元) | 35,234.26 | 2026-01-25 2、《国产大飞机航司交付及国产化 率双提升，C919 产业链景气上行》 2026-01-18 3、《商业航天高景气上行，国产大 飞机迎双提升机遇》2026-01-11 分析师：陈鼎如 执业证书编号：S0740521080001 Email：chendr01@zts.com.cn 执业证书编号：S0740523060003 | 增持（维持） 评级： | | | 重点公司基本状况 | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 简称 | 股价 | | | EPS | | | | | PE | | | | 分析师： ...

Group 1 - The three major indices collectively declined, with the CN5082 Aerospace and Aviation Industry Index briefly turning positive before closing down 0.94%. Among its constituent stocks, Hangcai Co. rose over 5%, Beimo High-tech increased over 4%, and Aerospace Development gained over 3% [1] - The Tianhong Aerospace ETF (159241) had a trading volume exceeding 800 million yuan, with a real-time premium rate of 0.03% and a turnover rate of 8.67%, ranking first among similar products. It has seen net inflows for seven consecutive trading days, accumulating a net inflow of 344 million yuan over the past 20 days [1] - The Tianhong Aerospace ETF tracks the National Aerospace Index, which covers the aerospace industry chain, with a combined weight of over 68% in aviation and aerospace equipment. Its top ten holdings include leading state-owned enterprises such as Aero Engine Corporation of China and AVIC Shenyang Aircraft Corporation, providing both stability from core assets and growth potential from smaller market-cap companies [1] Group 2 - CITIC Securities predicts a structural recovery in the global aviation industry by 2026, with international route demand expected to recover to over 95% of 2019 levels. Supply chain issues at Boeing are anticipated to cause delivery delays of new aircraft, with a projected shortfall of 800 aircraft by 2026, leading to upward pressure on ticket prices [2] - China Commercial Aircraft Corporation's C919 is expected to accelerate production, targeting an annual output of 50 aircraft by 2026, which will drive the domestic large aircraft industry chain into a performance realization phase. The localization rate of core components such as avionics systems and engines is expected to exceed 60% [2] - In the military sector, satellite internet is included in the new infrastructure category, with low-orbit satellite constellation networks accelerating. By 2026, over 2,000 satellites are planned for launch domestically, leading to a surge in demand for key components like phased array TR components, with the industry maintaining a growth rate of over 15% [2]

1月31日，位于贵阳市云岩区中华北路99号的贵州纺织集团首家旗舰店开业。店内三大贵州自有服饰品牌在售——黔超系列具备专业运动属性、黔锦系列结 合非遗工艺内涵、黔成系列主打日常实用设计，价格百元到千元不等，部分已实现贵州本土制造。 据悉，贵州民族服饰品牌"黔锦"，将贵州民族文化、非遗技艺与现代时尚深度融合，携手艺之卉集团登陆米兰时装周，向世界展示了中华优秀传统文化的独 特魅力。 贵州体育运动服饰品牌"黔超"，在省体育局大力支持下，实施"名赛、名人、名企"战略，与李宁集团联合打造第十五届全运会贵州代表团战袍，同时冠名多 项重大国际赛事。 开业前三天(1.31-2.2)有全场7.5折优惠活动，市民朋友可前往选购。 作为贵州省唯一的省级国有纺织产业平台，贵州纺织集团目前与中国李宁、上海美特斯邦威等知名品牌达成合作。 纺织集团相关负责人表示，旗舰店是"看得见"的产业窗口、"穿得着"的体验平台、"促合作"的招商桥梁，提供线下线上联动销售及定制服务，并通过产品展 示促进招商引资。 开业当日邀请到多位贵州体育运动员穿着"黔超"运动服饰助力走秀。 贵州专用服饰品牌"黔成"，拓展工服、制服、校服市场，已获得中国商飞、保利集团、茅 ...

Investment Rating - The industry rating for the defense and aerospace sector is "Recommended" [1] Core Insights - The domestic long-range engine, Changjiang series, has entered a critical certification phase, marking a significant turning point for the large aircraft sector [1] - The demand for civil aircraft remains strong, with Boeing recovering orders while Airbus faces delivery challenges due to engine supply shortages [4][5] - The C919 aircraft has made significant progress in obtaining European airworthiness certification, which is crucial for accessing global markets [6] - The operational performance of the C919 has been validated through extensive market testing, with increasing flight hours and passenger numbers [7][8] - The delivery of C919 aircraft is expected to rise, with supply chain obstacles gradually diminishing [9] Summary by Sections Manufacturing and Development - The Changjiang engine's development is a key focus, with the 2026 work conference emphasizing the importance of commercial power and advanced materials [1] - The C919 has successfully completed various certification processes, including the TC and PC certifications for multiple engine models [3] Demand and Market Dynamics - Airbus has a backlog of 8,665 aircraft orders, with a projected delivery of approximately 820 aircraft by the end of 2025, while Boeing's commercial aircraft orders have shown signs of recovery [4] - Engine supply shortages are a critical bottleneck, causing many new aircraft to be grounded due to the lack of engines [5] Certification and Regulatory Progress - The C919 has received positive evaluations from the European Union Aviation Safety Agency (EASA), indicating its performance and safety [6] Operational Performance - The C919 has successfully carried over 4 million passengers by the end of 2025, demonstrating its operational reliability and efficiency [7] - Airlines are expanding C919 flight routes, reflecting confidence in the aircraft's performance [8] Delivery and Supply Chain - In 2025, approximately 15 C919 aircraft were delivered, showing an increase from the previous year, although still below initial expectations [9] - The resolution of supply chain issues, particularly regarding engine availability, is crucial for future production increases [9]

每日经济新闻 （责任编辑：贺翀 ） 军工行业或仍处于需求向上周期，1月30日，军工ETF（512660）回调超1.8%，把握回调布局机 会。 国海证券指出，中国商飞强调2026年全面推进规模化系列化发展，目前C919已在国内常态化商业 运营，且东南亚多国对其展现兴趣，欧洲EASA适航认证亦有积极进展，未来出海或有望提速，相关产 业链具备较大发展空间。中国航天科技集团则强调新域新质作战力量提升，部署全力突破可回收火箭技 术，并大力发展商业航天、低空经济等战新产业，前瞻布局太空数智等未来产业。整体来看，未来5年 军工行业或仍处于需求向上周期，建议关注军贸、商业航天、大飞机三大方向，同时重视国企改革相关 进展。 军工ETF（512660）跟踪的是中证军工指数（399967），该指数从沪深市场中选取主营业务与军工 行业相关的上市公司证券作为指数样本，涵盖航空、航天、船舶、兵器等军工领域，以反映军工相关上 市公司证券的整体表现。该指数具有较高的行业集中度，主要配置于航空装备和军工电子等行业，整体 呈现中小盘风格。 风险提示：提及个股仅用于行业事件分析，不构成任何个股推荐或投资建议。指数等短期涨跌仅供 参考，不代表其未来 ...

Core Insights - The "low-altitude economy" is gaining momentum with various applications such as drone logistics, power inspection, agricultural protection, and emergency rescue being implemented across cities [1] - The discussion highlights the need for a stable operational system and sustainable business model to avoid the pitfalls of hype without substance in the industry [1] Group 1: Industry Development - The key to the successful implementation of the low-altitude economy lies not just in technology but in establishing a comprehensive operational framework, including airspace release, simplified flight reporting processes, and infrastructure development [2] - The current enthusiasm for e-VTOL (electric vertical takeoff and landing) aircraft is evident, but challenges such as limited range and high costs remain significant barriers to widespread adoption [15][24] - The industry is still in its early stages, with many players focusing on aircraft development rather than creating a viable economic ecosystem [14] Group 2: Market Dynamics - The low-altitude economy must evolve into a true economic model, which requires integrating aerial vehicles into everyday life, similar to how cars became household items [19] - The market's acceptance and demand for these technologies will ultimately determine their success, necessitating a focus on practical applications that enhance efficiency and generate economic benefits [18][19] - The establishment of a national air traffic control network and adequate takeoff and landing points is crucial for the development of a sustainable low-altitude economy [22] Group 3: Safety and Regulation - Safety remains a fundamental concern, particularly for unmanned cargo aircraft, which must ensure reliable data links and comprehensive monitoring systems to mitigate risks [27][30] - Regulatory frameworks need to evolve to support the safe integration of these technologies into the airspace, particularly in urban areas [31] - The industry must balance innovation with safety and reliability to foster public trust and acceptance [30][34]