Core Viewpoint - The article highlights the achievements and dedication of Chengdu Aircraft Industry Group (CAC) in developing advanced military aircraft, emphasizing the spirit of loyalty, self-reliance, hard work, and innovation in building a strong aviation industry in China [2][10][24]. Group 1: Historical Achievements - In 1964, China successfully flew its first night low-altitude interceptor aircraft, the J-5A, marking the beginning of significant advancements in military aviation [3][4]. - The J-10, China's first independently developed third-generation fighter jet, made its maiden flight in 1998, followed by the J-20, the first fourth-generation fighter jet, in 2011 [2][3]. - The J-10CE model attracted significant attention at the 55th Paris Air Show in June 2025, showcasing China's advancements in military aviation technology [2]. Group 2: Spirit of Dedication - The article emphasizes the unwavering dedication of CAC employees, who often worked under challenging conditions, prioritizing national defense over personal comfort [3][7][8]. - Historical anecdotes illustrate the sacrifices made by engineers and workers, such as working through holidays and enduring difficult living conditions to ensure the success of aircraft development [6][18]. - The motto "The motherland will remember those who are loyal and dedicated" reflects the deep-rooted commitment of CAC personnel to their work and country [9]. Group 3: Self-Reliance and Innovation - The article discusses the importance of self-reliance in achieving international standards in aircraft manufacturing, highlighting the transition from reliance on foreign technology to developing indigenous capabilities [10][12]. - The implementation of Computer Integrated Manufacturing Systems (CIMS) in the late 1980s marked a significant leap in production efficiency and quality, enabling the successful production of the J-10 [11][23]. - Recent innovations, such as the development of the "S-shaped test piece" as an international standard for high-end machine tools, demonstrate CAC's commitment to leading in technology and setting industry benchmarks [21][22][24]. Group 4: Challenges and Resilience - The article recounts the struggles faced by CAC during economic downturns, including diversifying into civilian products to sustain operations before refocusing on military aviation [16][17]. - The perseverance of CAC employees in overcoming technical challenges and maintaining production schedules, even in the face of personal hardships, is a recurring theme [18][19]. - The spirit of hard work and resilience is encapsulated in the phrase "no matter how difficult, we must solve the problems," reflecting the collective determination of the workforce [18]. Group 5: Future Aspirations - CAC aims to continue pushing the boundaries of aviation technology, focusing on areas such as extreme manufacturing and aerospace technology to maintain its competitive edge [24]. - The leadership expresses confidence in the future, emphasizing the importance of innovation and practical efforts to achieve new milestones in aircraft development [24].

Core Viewpoint - The article discusses the participation of China's aviation industry, represented by advanced fighter jets and drones, in the 55th Paris Air Show, highlighting the significance of this event for showcasing China's aerospace advancements and potential export opportunities [1][25]. Group 1: Participation in Paris Air Show - China Aviation Industry Corporation announced its participation in the Paris Air Show from June 16-22, showcasing models such as the J-20, J-35A, J-10CE, Y-20, Z-20, and Z-10ME [1]. - The J-10CE, which gained attention after its performance in the India-Pakistan air conflict, is particularly highlighted as it competes directly with the French Rafale at the air show [1]. Group 2: Historical Context - The first participation of Chinese fighter jets in the Paris Air Show occurred in 1989 with the J-8II, marking a significant moment in showcasing China's aerospace capabilities [3]. - The article draws parallels between the development of the French Rafale and China's J-10, noting the historical context of their respective advancements in military aviation technology [10][12]. Group 3: Technological Advancements - The J-10's design incorporates a canard-delta configuration, which was a strategic choice given China's technological capabilities at the time of its development [11]. - The J-10 has evolved significantly, with the introduction of advanced radar systems and missile technology, such as the PL-15, enhancing its combat capabilities [21][24]. Group 4: Export Potential - The participation in the Paris Air Show is seen as a strategic move to promote potential exports of the J-10CE and other models, indicating a shift in China's approach to international military sales [24][25]. - The article speculates on the future export of the J-20, which could significantly alter geopolitical power dynamics [25].

证券研究报告 | 浙商早知道 报告日期：2025 年 06 月 20 日 浙商早知道 2025 年 06 月 20 日 ：张延兵 执业证书编号：S1230511010020 ：021-80106048 ：zhangyanbing@stocke.com.cn 市场总览 重要推荐 【浙商机械 邱世梁/王华君/李思扬】应流股份（603308）公司深度：高端铸造龙头，受益 AIDC+航空科技+核聚 变产业大趋势 ——20250619 重要观点 http://www.stocke.com.cn 1/4 请务必阅读正文之后的免责条款部分 大势：周四上证指数下跌 0.8%，沪深 300 下跌 0.8%，科创 50 下跌 0.5%，中证 1000 下跌 1.4%，创业板指下跌 1.4%， 恒生指数下跌 2.0%。 行业：周四表现最好的行业分别是石油石化（+0.9%)、银行（-0.2%)、传媒（-0.5%)、电子（-0.6%)、食品饮料（-0.7%)， 表现最差的行业分别是纺织服饰（-2.4%)、美容护理（-2.3%)、轻工制造（-2.0%)、有色金属（-2.0%)、医药生物 （-1.9%)。 资金：周四全 A 总成交额为 1 ...

来源：环球时报 AG600具有令人印象深刻的外形尺寸和技术特点：机身长38.9米，翼展38.8米，在水上和空中均能稳定 运行。其独特的设计融合了飞机结构和船体结构，即使在恶劣条件下也能在水上起飞和降落，水陆两栖 的双重能力使得AG600成为救援和消防任务的多功能工具。 动力上，AG600采用4台WJ6发动机，即使在极端天气也能提供稳定的动力性能，这一特点对于快速应 对自然灾害和火灾至关重要。此外，该机型在空气动力学设计上优化了能耗，有助于减少航行对环境的 影响。基于这些创新点，AG600被视为全球未来水上飞机的标杆。 通过整合现代技术，提升研发能力，中国已将自己定位为全球航空市场的主要参与者，AG600以创新设 计和卓越性能体现了中国科技领先的雄心，未来中国也将继续推动航空产业的发展。（作者琳达·弗尔 涅，董铭译） 法国"hellobiz"网站6月5日文章，原题："空中巨无霸蓄势待发，准备征服世界"，中国获准出售相当于4 辆大巴长度、最大载水量达12吨的巨型飞机 中国不久前宣布，其设计生产的全球起飞重量最大的民用 水陆两栖飞机"鲲龙"AG600获得型号合格证，这标志着中国在航空领域又向前迈出了重要一步。 作为 ...

来源：中国日报网 5月27日上午，我国飞行器设计领域权威专家、中国工程院院士王海峰总设计师回到西北工业大学，为 师生带来了《航空科技发展与创新实践体会》主题报告。西北工业大学副校长王伶出席报告会，该校航 空学院师生及中航工业一飞院代表200余人参加报告会。报告会由西工大航空学院党委书记于辉主持。 报告伊始，王海峰以深入浅出的方式，系统回顾了国内外航空事业的发展历程，全面展示了我国在航空 领域取得的辉煌成就，并展望了未来航空科技的发展趋势。王海峰还分享了我国在航空装备技术领域的 创新实践与宝贵经验。谈及行业发展，王海峰指出，航空科技的发展不仅需要攻坚克难的勇气与底气， 还要具备敏锐的技术洞察力和前瞻视野，更要耐得住寂寞、沉得下心来潜心钻研。正是依靠这种精神， 我国航空工业在短短数十年实现了从"望尘莫及"到"望其项背"、再到部分领域"同台竞技"的历史性跨 越。 随后，王海峰结合自身成长经历，语重心长地为青年学子送上了殷切寄语。他表示，航空工业是跨越时 代、经久铸砺的尖端研究，具有层级多、覆盖广、学科全的特点。面对日新月异的技术变革，年轻人既 要做"敬畏者"，也要做"颠覆者"。他勉励同学们坚定理想信念、夯实专业基础 ...

图①：2016年，歼—10飞机航展表演。 朱 鹏摄 图②：1998年3月23日，歼—10飞机01架首飞滑跑。 李 勇摄 歼—10！ 国产第三代战斗机！ 2025年5月17日，中央广播电视总台新闻节目报道，中国航空工业集团自主研制出口的歼—10CE飞机首 次取得实战战果，在国外实战中一举击落多架战机，自己无一损失。 2025年5月20日，马来西亚兰卡威航展开幕，以模型展出的歼—10CE，一天便吸引了20余个国家的军政 代表团密集到访。 誓言无声，岁月有痕！ 歼—10飞机是中国航空工业的重大成果、智慧结晶、创新典范，展现了中国航空人自强不息，以热血乃 至生命谱写蓝天壮歌、报效祖国的伟大精神风采。 何谓家国？ 繁霜尽是心头血，洒向千峰秋叶丹 上世纪70年代末，国门打开，交流增多，我们猛然发现，美、法等发达国家已开始研究先进战斗机的气 动布局方案和先进技术，并相继研制出F—16、幻影—2000等高机动战机。而中国空军装备的主力机 种，其航程、机动性、火力、电子设备等方面已经远远不能满足国防武器装备现代化的需要。 研制新机，缩小差距，迫在眉睫。党中央高瞻远瞩、果断决策："搞一个新的、性能好的歼击机"，让中 国空军到21 ...