标普表示，已不再积极考虑下调波音的评级。目前波音的评级为BBB-，仅高于垃圾级一个等级。标普 在周一的声明中指出，波音"似乎正逐步从2024年因罢工导致的停产以及长期存在的制造质量问题中恢 复过来"。若评级被下调，将推高这家飞机制造商的借贷成本。 智通财经APP获悉，标普全球评级表示，鉴于波音(BA.US)拥有240亿美元的现金储备以及其他能为其应 对未来困难提供缓冲的因素，已不再考虑将波音公司的债务评级下调至垃圾级。 这家评级机构周一发布的声明，是波音在经历了艰难的2024年后，业务好转取得进展的最新标志。上 周，波音公布的第一季度业绩超出了分析师的预期。去年10月，该公司筹集了约240亿美元的股权资 金，一个月后，机械师工会投票决定结束对公司工厂造成严重影响的罢工。 这些举措让波音在提高飞机产量的道路上更加清晰明确。在一系列设计和制造问题导致波音飞机停飞， 并促使监管机构对其加强监管之后，提高产量是波音恢复财务健康的关键一步。 由于去年工厂因劳资纠纷陷入困境时积累了大量零部件库存，波音在一定程度上免受了冲击全球经济的 关税动荡的影响。 据报道，中国已要求本国航空公司停止接收波音飞机的交付，不过波音表示将为 ...

标普表示其不再考虑把波音的信用评级下调至垃圾级，原因包括这家飞机制造商拥有240亿美元现金余 额，为其应对未来的困难提供了缓冲。这家评级公司声明不再考虑下调评级，这是波音公司在经历艰难 的2024年之后重整旗鼓取得进展的最新迹象。标普表示，不再积极考虑下调波音的评级，目前评级为 BBB-，比垃圾级高一级。标普周一在声明中表示，该公司"波音似乎正逐步摆脱2024年罢工造成的停产 以及持续的生产质量问题。" ...

航宇科技 20250428 摘要 • 航宇科技 2025 年一季度收入 4.2 亿元，同比下降超 20%，但环比提升， 受春节假期影响。净利润 4,600 万元，已消化大部分退款，后续运营负担 减轻。 • 预计 2025 年海外航空业务高速增长，新订单机会涌现，包括赛峰、贝克 休斯、金风能源、西门子等燃气轮机订单进展良好。海洋装备和核电业务 预计贡献可观收入。 • 2025 年海外燃气轮机预计收入 1.5-2 亿元，国内外市场总收入预计 3-4 亿元。随着精密加工验证周期完成，批产订单将提升盈利能力。 • 公司在商发配套方面占比高，长江 1,000 和 2000 的环锻件市场份额约占 七八成，单台价值量分别接近 400 万元和 500 万元。 • 截至一季度末，存货 9.49 亿元，较年初增加约五六千万元，原材料和再 制品占比过半。下游需求改善可迅速转化为收入。 • 海外业务规模效应提升毛利率，预计未来持续提升。创新制造工艺规模化 应用有望使毛利率提升超过 30%。 • 钛合金和高温合金原材料价格持续下降，预计 2025 年降幅约 10%- 15%。中美摩擦对公司影响可控，计划通过海外收购或自建工厂规避潜在 ...

Group 1 - Dow futures fell by 0.06%, S&P 500 futures dropped by 0.17%, and Nasdaq futures decreased by 0.17% [1] - Chip stocks experienced a decline, with Nvidia down 1.25%, Intel down 0.4%, and AMD down 0.63% [1] - Toyota is reportedly proposing a $42 billion acquisition of Toyota Industries Corporation, which is the origin company of the Toyota Group [1] - DHL has resumed sending packages over $800 to individuals in the U.S. after constructive dialogue with U.S. authorities [1] - Merck has agreed to acquire SpringWorks Therapeutics for $3.9 billion to enhance its oncology drug portfolio [1] Group 2 - Bernstein upgraded Boeing's stock rating to "outperform" and raised the target price from $181 to $218, anticipating a 26% revenue growth for the year [2] - Nike is facing a lawsuit from NFT buyers after abruptly shutting down its NFT business, which was acquired in December 2021 [2] - Airbus signed a $439 million asset acquisition agreement with Spirit AeroSystems, taking over specific commercial aircraft assets in the U.S., France, Morocco, and Northern Ireland [2] Group 3 - Amazon has seen an average price increase of 30% on nearly a thousand products since the second week of April, affecting various categories including electronics and apparel [3]

一、主要会计数据和财务指标 | 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.0017 | 0.0307 | -94.46 | 0.0128 | | 每股净资产（元） | 3.58 | 3.73 | -4.02 | 3.66 | | 每股公积金(元) | 2.93 | 2.93 | 0 | 2.93 | | 每股未分配利润(元) | -0.39 | -0.26 | -50 | -0.32 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 1.68 | 1.12 | 50 | 1.33 | | 净利润(亿元) | 0.01 | 0.18 | -94.44 | 0.07 | | 净资产收益率(%) | 0.05 | 0.83 | -93.98 | 0.35 | 本次公司不分配不转赠。 前十大流通股东累计持有： 20492.3万股，累计占流通股比： 35.76%，较上期变化： -68.20万股。 | 名称 | 持有数量 ...

Group 1 - The Shanghai Composite Index opened lower and fluctuated, with the CSI 300 Capital Goods Index reported at 3466.88 points [1] - The CSI 300 Capital Goods Index has decreased by 7.46% in the past month, 4.71% in the past three months, and 7.97% year-to-date [2] - The index is composed of listed companies in the capital goods sector selected from the CSI 300 Index, reflecting the overall performance of these companies [2] Group 2 - The top ten weights in the CSI 300 Capital Goods Index are: CATL (22.14%), Huichuan Technology (4.95%), China State Construction (4.07%), SANY Heavy Industry (4.01%), Guodian NARI (3.25%), LONGi Green Energy (3.2%), Sungrow Power (3.02%), CRRC (3.02%), Weichai Power (2.92%), and XCMG (2.64%) [2] - The market share of the CSI 300 Capital Goods Index is 50.58% from the Shenzhen Stock Exchange and 49.42% from the Shanghai Stock Exchange [2] - The industry composition of the index includes: Power Equipment (49.10%), Machinery Manufacturing (28.23%), Construction Decoration (15.50%), and Aerospace and Defense (7.17%) [2] Group 3 - The index sample is adjusted every six months, with adjustments implemented on the next trading day after the second Friday of June and December [3] - Weight factors are generally fixed until the next scheduled adjustment, with special cases allowing for temporary adjustments [3] - Companies that are delisted or undergo mergers, acquisitions, or splits are handled according to calculation and maintenance guidelines [3]

Core Viewpoint - Boeing is facing significant challenges due to increased tariffs, leading to halted aircraft deliveries from Chinese customers and potential delays from airlines in the U.S. and Europe [1][6][12]. Financial Performance - Boeing has reported continuous losses for six years, with a net loss of $11.82 billion in 2024 and a further loss of $31 million in Q1 2025, despite some improvement [3][13]. - The company is undergoing a restructuring process, with 2025 seen as a critical year for recovery [3][13]. Tariff Impact - The introduction of tariffs has caused the cost of Boeing aircraft to double, making them unaffordable for many airlines [7][12]. - Chinese airlines have begun returning aircraft, with three planes already sent back, and further delays in accepting deliveries are expected [6][12]. Market Position - Boeing's market share in China has been declining, with Airbus now holding a 52.2% share compared to Boeing's 40.8% as of April 2024 [12]. - Boeing has 130 aircraft awaiting delivery in China, significantly lower than Airbus's planned deliveries of 136 aircraft in 2025 [10][12]. Strategic Moves - To alleviate financial pressure, Boeing has agreed to sell part of its digital aviation solutions business for $10.55 billion, which includes profitable subsidiaries like Jeppesen [14][15]. - The company is also focusing on maintaining close relationships with suppliers to mitigate the impact of tariffs on manufacturing costs [12][15].

Investment Rating - The investment rating for the company is "Buy" and is maintained [8] Core Views - The company reported a revenue of 174 million in Q1 2025, representing a year-on-year growth of 8.37%. However, the net profit attributable to shareholders decreased by 3.07% to 31 million. The net profit excluding non-recurring items was 26 million, down 17.77% year-on-year. After adjusting for share-based payment expenses, the net profit reached 37 million, showing a growth of 15.43% year-on-year [2][6][12] Summary by Sections Financial Performance - In Q1 2025, the company achieved a revenue of 174 million, up 8.37% year-on-year. The net profit attributable to shareholders was 31 million, down 3.07% year-on-year, while the net profit excluding non-recurring items was 26 million, down 17.77% year-on-year. Adjusted for share-based payment expenses, the net profit was 37 million, reflecting a year-on-year increase of 15.43% [2][6][12] Margin Analysis - The gross margin for Q1 2025 was 41.23%, a decrease of 1.31 percentage points year-on-year. The operating expense ratio increased to 19.57%, up 4.83 percentage points year-on-year. The net profit margin was 17.73%, down 1.38 percentage points year-on-year [12] Capacity Expansion and Business Development - The company is actively expanding new capacities and developing new businesses to meet downstream demand. As of the end of Q1 2025, fixed assets amounted to 863 million, a 0.73% increase from the beginning of the period. The inventory balance was 193 million, up 6.28% from the beginning of the period. The completion of investment projects has enhanced the company's production capabilities [12] Profit Forecast and Valuation - The company is expected to achieve net profits attributable to shareholders of 165 million, 222 million, and 290 million for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 30%, 35%, and 31%. The corresponding price-to-earnings ratios are projected to be 31, 23, and 18 times [12]

Core Insights - The company, AVIC High-Tech (600862), reported a revenue of 1.401 billion yuan for the first quarter of 2025, representing a year-on-year growth of 6.38% [1] - The net profit for the same period was 358 million yuan, showing a year-on-year increase of 1.93% [1] Financial Performance - Revenue: 1.401 billion yuan, up 6.38% year-on-year [1] - Net Profit: 358 million yuan, up 1.93% year-on-year [1]

成都立航科技于2025年4月26日发布公告，披露关于回购注销限制性股票减资暨通知债权人的相关事 宜。 因激励对象离职及业绩未达标，拟回购注销40.26万股限制性股票 2025年4月25日，成都立航科技召开第三届董事会第七次会议、第三届监事会第六次会议，审议通过 《关于回购注 销限制性股票的议案》等议案。 此次回购注销完成后，公司股份总数将由77,907,622股变更为77,505,022股，注册资本也将相应变更为人 民币77,505,022元。 债权人可在45日内要求清偿债务或提供担保 由于本次回购注销部分股权激励限制性股票将导致注册资本减少，根据相关法律法规，公司通知债权 人，自本公告之日起四十五日内，债权人有权要求公司清偿债务或者提供相应的担保。若债权人未在规 定期限内行使上述权利，本次回购注销将按法定程序继续实施。 债权申报所需材料：法人：需携带法人营业执照副本原件及复印件、法定代表人身份证明文件；委托他 人申报的，还需法定代表人授权委托书和代理人有效身份证件的原件及复印件。自然人：需携带有效身 份证的原件及复印件；委托他人申报的，还需授权委托书和代理人有效身份证件的原件及复印件。 债权申报具体方式：登 ...