证券日报网讯 12月24日，中航成飞在互动平台回答投资者提问时表示，空天产业是国家战略性新兴产 业的重要组成部分，是新质生产力的重要体现。公司始终聚焦首责主责主业，坚持创新引领发展，加快 产业结构优化调整，将空天装备领域作为未来发展重要方向，积极参与商业空天产业发展。公司全资子 公司成飞承担"昊龙"货运航天飞机科研生产任务，是公司在空天装备领域的重大突破。后续公司将积极 推进项目科研生产工作，持续赋能公司高质量发展，为我国空天产业发展贡献力量。公司高度重视军贸 业务发展，将始终坚持服务国家政治外交大政方针，密切关注市场动向，在符合国家战略的情况下，持 续加大军贸业务开拓的力度和广度。如有应披露的相关事项，公司将严格按照有关法律法规的规定和要 求及时履行信息披露义务。 （文章来源：证券日报） ...

Core Insights - The 27th China International High-tech Achievements Fair showcased significant advancements in aerospace, quantum communication, intelligent robotics, and digital technology, highlighting the vitality and innovation of China's high-tech industry [1] Aerospace Industry - The aerospace sector featured prominently, with products like flexible solar wings and laser communication terminals from China Aerospace Science and Technology Corporation, demonstrating the empowering role of aerospace technology across various industries [1] - Asia-Pacific Satellite Broadband Communication (Shenzhen) Co., Ltd. presented the Asia-Pacific 6D satellite, which is currently the largest in communication capacity and output power in the Ku-band high-throughput geostationary satellites, with a total communication capacity of 50 Gbps and over 30,000 network terminal stations [1] - Shenzhen Magic Cube Satellite Technology Co., Ltd. showcased its independently developed Tianmu-1 meteorological satellite and the Magic Eye series radar satellites, achieving a 40% reduction in satellite development costs and a 50% decrease in delivery time through standardized and modular design [1] Quantum Communication - Southern Power Grid Shenzhen Power Supply Bureau, in collaboration with Huawei, unveiled the world's first "flux-integrated" quantum encryption private network, which integrates quantum encryption with optical transmission equipment, already applied in critical power supply stations for the 15th National Games [2] Robotics Industry - The robotics sector displayed a wide array of innovations, including industrial and consumer-grade robots, emphasizing the accelerating penetration of intelligent robotics across various industries [2] - Lingxin Qiaocraft (Shenzhen) Robot Co., Ltd. presented a unique robot band capable of performing multiple songs based on audience requests, showcasing the entertainment potential of robotics [2] - Shandong Guoxing Intelligent Technology Co., Ltd. exhibited a high-obstacle electric explosion-proof four-wheel drive fire-fighting robot, which enhances operational safety for firefighters by detecting hazardous gases and avoiding obstacles [3]

Core Insights - The establishment of the Bay Area headquarters of Zhongke Xingtou in Luohu will inject strong momentum into the "sky track" of the region, focusing on the integration of aerospace and low-altitude economy [1][3] Group 1: Company Overview - Zhongke Xingtou is a leading enterprise in the commercial aerospace and low-altitude economy sectors, leveraging "digital earth" as a foundation to integrate AI, big data, and cloud computing with aerospace technologies [3] - The company has developed a comprehensive space information service system that combines data, computation, and application, enhancing capabilities in meteorology, marine monitoring, and safety [3][9] Group 2: Industry Development - The low-altitude and aerospace industries are key focus areas for Luohu, which has attracted over 150 enterprises in the low-altitude economic chain and established 111 diverse low-altitude takeoff and landing facilities [7] - Luohu has operationalized 35 tourism routes, 2 air traffic routes, and 5 logistics routes, with significant achievements in medical drone deliveries, improving efficiency by 50% [7] Group 3: Strategic Initiatives - The headquarters will facilitate breakthroughs in key technologies related to low-altitude and aerospace, promoting major project incubation and industrial chain aggregation [3][9] - Luohu aims to create a new blueprint for the low-altitude economy by integrating Zhongke Xingtou's "Xingtou Cloud" and other foundational capabilities, focusing on comprehensive perception, intelligent decision-making, and efficient operations [7][9] Group 4: Expert Insights - Experts emphasize the importance of safety in promoting high-quality development of the low-altitude economy, highlighting that innovation must be supported by robust safety measures [4][5] - The establishment of a modernized aerial emergency rescue system is seen as a critical application of low-altitude economy technologies, enhancing national security and public safety [4]

Core Insights - The article highlights the transformation of Luohu District in Shenzhen into a hub for emerging industries, showcasing significant growth in the secondary sector and strategic emerging enterprises [1][3]. Economic Growth - In the first half of the year, Luohu's secondary industry added value increased by 7%, and the industrial output value of designated enterprises grew by 10.8% [1]. - Over the past three years, the number of strategic emerging enterprises in Luohu has grown by more than 10% annually [1]. Emerging Industries - A number of strategic emerging enterprises have established key projects in Luohu, spanning artificial intelligence, low-altitude aerospace, and life sciences [2]. - The establishment of the Bay Area headquarters by Zhongke Xingtu in the low-altitude and aerospace sectors marks a significant development [2][4]. - The China-Europe Innovation Medicine and Health Research Center has partnered with Cytiva to enhance collaboration in various areas, including platform operation and talent training [2]. Low-altitude Aerospace Sector - Zhongke Xingtu's involvement strengthens Luohu's low-altitude aerospace industry, integrating satellite remote sensing, AI algorithms, and low-altitude perception data [4]. - Luohu has over 150 enterprises in the low-altitude economic chain and has established 111 diverse low-altitude takeoff and landing facilities [6]. - The region has initiated 35 tourism routes, 2 air traffic routes, and 5 logistics routes, achieving full coverage of drone automatic nesting in 10 streets [6]. Space Industry Development - Luohu has established a core layout for the aerospace industry, including capabilities for high, medium, and low orbit satellite services [6]. - The first commercial high-orbit relay satellite, "Cangyu No. 1," is set to launch in the second half of 2026, with plans for 13 satellites in total [7]. New Product Showcase - The 27th High-Tech Fair in Luohu featured new products from various companies, including AI, life sciences, and low-altitude aerospace technologies [8]. - Companies like ChipMao Microelectronics and Jiangyuan Technology have made significant advancements in domestic chip development and AI technology [10]. Life Sciences Sector - The China-Europe Medicine Center focuses on advanced therapeutic drugs, digital health, and longevity medicine, leveraging Luohu's rich medical resources and proximity to Hong Kong [10]. - Future collaborations with Cytiva will target cutting-edge fields such as gene and cell therapy [11]. Infrastructure and Financial Support - Luohu plans to release over 5 million square meters of industrial space in the next five years to support industry upgrades [11]. - The local government has invested in 17 industrial funds, totaling 55 billion yuan, to support key enterprises and emerging industries [11].

Group 1 - Five semiconductor industry chain projects have been signed in Nantong City, with four located in the Nantong High-tech Industrial Development Zone [1] - Amphenol Electronics, one of the investors, has seen its annual revenue grow from 400 million to over 1.2 billion in five years, focusing on the integrated circuit sector [1] - The company plans to invest 50 million yuan in new equipment and aims to start production as early as next year [2] Group 2 - Nantong High-tech Zone is striving to become a national base for integrated circuit components by attracting leading companies in the field [2] - The area has been recognized as one of Jiangsu Province's first innovative industrial clusters in electronic components [2] - The high-tech zone is transitioning from traditional industries to intelligent, lightweight, and customized sectors [3] Group 3 - The Nantong High-tech Zone has over 1 million square meters of innovation space, supporting industrial development [4] - A new industrial park of approximately 3,000 acres is planned to focus on aerospace and low-altitude economy [4] - The local government emphasizes high-quality development and innovation-driven growth to enhance the industrial cluster's vitality [4]

Core Insights - The first West Lake Commercial Aerospace Talent Exchange Conference was held, focusing on the forefront technologies of "sensing," "transmission," "computation," and "control" in the commercial aerospace sector [1] - West Lake District is implementing the upgraded West Lake Talent Introduction Project 2.0 policy to break down barriers between universities, research institutions, and enterprises for talent and innovation [1] Group 1 - The "123N" pilot reform system is being established to create an industry-oriented academy, exploring a joint training model of "1 year of on-campus study + 2 years of enterprise practice," with 80 joint training spots for master's and doctoral students [1] - The China Academy of Space Technology Shenzhou College (Hangzhou) is promoting the deep integration of artificial intelligence and the aerospace industry, aiming to build an innovative talent training mechanism [1] - The provincial aerospace intelligent manufacturing integration college focuses on key technologies in the aerospace industry, such as artificial intelligence and additive manufacturing, to cultivate application-oriented composite talents [1] Group 2 - Several leading innovative platforms were inaugurated, and multiple high-level talent projects were launched, injecting strong momentum into the gathering of innovative resources in the commercial aerospace field [2] - The city-level satellite-based intelligent optoelectronic perception engineering center has a core team led by academicians and national-level leading talents, accumulating significant advantages in satellite payloads and intelligent perception algorithms [2] - The signing of the provincial satellite-based intelligent optoelectronic perception engineering center marks a leap in capability from city-level to provincial-level, aiming to integrate high-end talent and innovative resources for the development of satellite-based intelligent optoelectronic perception technology [2]

Core Viewpoint - The 2025 Air Force Aviation Open Day and Changchun Airshow showcased the development and capabilities of the People's Air Force, highlighting its equipment system and growth trajectory [1][14]. Group 1: Air Force Equipment and Development - The event featured over a hundred types of active aircraft, ground equipment, and retired classic equipment, demonstrating the comprehensive strength of the People's Air Force [1]. - Military expert Wang Mingzhi emphasized the systematic display of the People's Air Force's equipment development and combat capability generation process, showcasing how the Air Force has grown and strengthened over time [3]. - The China Aviation Engine Group made its debut at the exhibition, presenting various star products, including large transport aircraft engines, reflecting the strength of China's aviation industry [5]. Group 2: Technological Advancements - The exhibition highlighted advancements in unmanned and intelligent aviation products, showcasing the development of autonomous technology and artificial intelligence, which will further promote the widespread use of drones [7]. - The event included a variety of unmanned aerial vehicles (UAVs), such as reconnaissance drones and advanced electronic reconnaissance UAVs, enhancing the Air Force's comprehensive operational capabilities [9]. Group 3: Flight Demonstrations - The five-day flight demonstrations featured impressive performances, showcasing the spirit and training level of the Air Force personnel, as well as the maturity of its equipment system [10]. - Various aircraft, including the Y-20A, J-16, J-20, and KJ-500, participated in coordinated flight displays, illustrating the Air Force's systematic capabilities and tactical training [12][14]. - The flight demonstrations incorporated tactical elements, presenting modular combat formations and emphasizing the Air Force's operational readiness for future battlefields [12][14]. Group 4: Aerospace Industry Growth - The event attracted over 70 domestic aerospace companies, showcasing new technologies and products, and highlighting the vitality of the aerospace industry in Changchun [15]. - The "Jilin-1" satellite, which has established the world's largest sub-meter level commercial remote sensing satellite constellation with 117 satellites in orbit, was a focal point, driving the development of related industries [15]. - A unique dual-wing vertical takeoff and landing fixed-wing drone was introduced, capable of operating in extreme conditions, and has been widely used in various sectors such as emergency firefighting and ecological protection [17].

Group 1 - Zhengzhou's Strategic Emerging Industry Fund has approved the selection of several sub-fund management institutions for investment projects [1] - The selected institutions include Guoxin Guozheng Investment Management Co., Henan Investment Group Huirong Fund Management Co., and Shenzhen Guoyu Gaohua Investment Management Co. [1] - The announcement provides a public notice period of five working days for any objections to the selected institutions [1] Group 2 - Contact information for Henan Guochuang Mixed Reform Fund Management Co. is provided, including email, phone number, and address [2]

Core Insights - The recent announcement by Chaoxi Fund regarding the finalization of its second main fund's LP lineup highlights a strong industrial and market-oriented characteristic, with nearly 60% of the LPs being industrial partners, similar to the first fund [1][3] - The re-investment rate of existing LPs reached approximately 50%, indicating their high trust and continued optimism towards Chaoxi Fund [1][3] Group 1 - Suzhou Fund has increased its investment in Chaoxi Fund as a cornerstone investor, with listed companies such as Maiwei Co., Artes, and Zhejiang Chint Electric joining the industrial LP ranks [3] - Notable investment platforms like Zhongfang Consortium, Dongwu Venture Capital, and CITIC Capital have also made their debut in the LP list for this fund [3] - The second main fund will focus on the energy and technology sectors, aiming to cultivate future leading enterprises with strong technological innovation capabilities and industrialization potential [3][4] Group 2 - Chaoxi Fund employs a unique industrial investment methodology, focusing on market demand and breakthrough innovation technologies for forward-looking investments [4] - The fund primarily invests in high-growth and certain growth enterprises, while maintaining a diversified exit strategy beyond just IPOs [4] - Since its establishment in 2015, Chaoxi Fund has accumulated an asset management scale of 7 billion yuan, investing in over 40 enterprises across various industry chain segments [4] Group 3 - The ecosystem of Chaoxi Fund has produced leading companies in niche markets, such as Hichain Energy in the global energy storage sector and Zhengtai New Energy in photovoltaic manufacturing [4] - The success of these companies validates Chaoxi Fund's investment vision and capabilities, enriching its industrial ecosystem [4] - The founder and chairman, Liu Jie, emphasized the importance of a strong industrial ecosystem built on partnerships with LPs and the growth of invested enterprises [5]

Core Viewpoint - Chao Xi Capital has successfully completed the first closing of its second RMB main fund with a scale of 700 million yuan, following the previous fund's over 900 million yuan fundraising, indicating a steady improvement in institutional management scale and capability [1] Fundraising and LP Composition - The second fund maintains a high level of industrial and market-oriented characteristics, with nearly 60% of the LPs being industrial LPs, supported by leading mother funds, state-owned investment platforms, and financial institutions; the re-investment rate of old LPs is approximately 50% [1] - Key cornerstone investors include Suzhou Fund, with industrial LPs such as Maiwei Co., Artis, and Zhengtai Electric, along with new notable investment platforms like Zhongfang Consortium, Dongwu Venture Capital, and CITIC Capital [1] Investment Focus and Strategy - The second main fund will focus on two major sectors: energy and technology, covering the entire industrial chain from new materials, high-end equipment, terminal products, to innovative services and application scenarios, aiming to cultivate future leading enterprises with strong technological innovation and industrialization capabilities [1][2] - The investment strategy is based on a dual perspective of energy and technology, assessing market demand, breakthrough innovations, and industrial application points, while also considering the investment cycle and the growth stages of enterprises [2] Company Background and Achievements - Since its establishment in 2015, Chao Xi has adhered to an "industry-based" philosophy, focusing on global energy and technology sector investments, managing assets totaling 7 billion yuan, and investing in over 40 companies across various industrial chain segments [3] - The company has nurtured 5 unicorns and 12 potential unicorns, with 27 companies recognized as "specialized, refined, distinctive, and innovative" or as national high-tech enterprises [3] Ecosystem Development - The founder and chairman, Liu Jie, emphasized the creation of a pyramid industrial ecosystem, supported by numerous industrial groups as LPs and partner companies, which has been strengthened by the establishment of an industrial support center to integrate resources and foster collaboration [4][5]