航空发动机

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美取消相关对华经贸限制措施,中方回应
第一财经· 2025-07-04 04:01
有记者问:近期,商务部新闻发言人表示,中美就伦敦会谈框架细节达成共识,"中方将依法审批符 合条件的管制物项出口许可申请。美方将相应取消对华采取的一系列限制性措施。"近日有报道称, 相关企业已接到美国商务部通知,恢复EDA软件、乙烷、飞机发动机等产品对华出口。请问商务部 对此有何评论? 答:中美伦敦经贸会谈后,双方于近期确认了落实两国元首6月5日通话重要共识和巩固日内瓦经贸 会谈成果的具体细节。目前,双方团队正在加紧落实伦敦框架有关成果。中方正依法依规审批符合条 件的管制物项出口许可申请。美方也采取相应行动,取消对华采取的一系列限制性措施,有关情况已 向中方作了通报。 伦敦框架来之不易,对话合作才是正道,讹诈胁迫没有出路。希望美方深刻认识中美经贸关系互利共 赢的本质,继续同中方相向而行,进一步纠正错误做法,以实际行动维护和落实好两国元首通话重要 共识,共同推动中美经贸关系行稳致远。 7月4日,商务部新闻发言人就美取消相关对华经贸限制措施情况答记者问。 ...
新型号技术成熟叠加后市场格局改变,航发产业有望迈入全新发展阶段
Orient Securities· 2025-06-30 14:43
Investment Rating - The industry investment rating is maintained as "Positive" [4] Core Viewpoints - The appointment of Zhang Yujin as the chairman of AVIC Engine Group indicates a potential return to high growth for the engine sector, with a broad market outlook [3][7] - The core technologies in the aviation engine industry are maturing, and the pressure on profitability from high investment in model development is expected to ease [7] - The maintenance, commercial aviation, and gas turbine sectors are opening up broader development opportunities for the aviation engine segment [7] Summary by Relevant Sections Industry Overview - The aviation engine industry has made significant progress over the past five years, achieving independence from imported engines for military applications and actively participating in the development of domestic commercial engines [7] Market Dynamics - The demand for weaponry and equipment is expected to expand due to ongoing international tensions, which will benefit the military trade market [6] Investment Recommendations - The report suggests focusing on specific segments within the aviation engine industry, including maintenance, commercial aviation, and gas turbines, as they present substantial growth potential [3][7] - Listed companies under AVIC Group include AVIC Power (600893), AVIC Control (000738), AVIC Technology (600391), and AVIC Materials (688563) [7]
“新质党建”:产业攻坚“红色引擎”——访上海市经信工作党委书记程鹏
Jie Fang Ri Bao· 2025-06-29 01:48
Core Viewpoint - Shanghai is accelerating the establishment of a collaborative mechanism for key characteristic industries, with 11 trillion-level district-led industries announced, reflecting the city's determination to cultivate its industrial ecosystem with a "red engine" [1][2]. Group 1: Industrial Development - In 2024, Shanghai aims for a 2.2% growth in industrial added value, significantly higher than previous years, with leading industries' manufacturing output growing by 10.8% and industrial investment increasing by 11.1%, the highest in four years [2]. - Shanghai is focused on achieving an industrial added value accounting for 25% of GDP and a total industrial output value reaching 5 trillion yuan, with strategic emerging industries aiming for a 50% share [2][3]. Group 2: New Quality Party Building - The "New Quality Party Building" initiative is centered around four scenarios: enterprise party building, cluster party building, regional party building, and park party building, aimed at enhancing industrial development [5][6]. - The initiative includes the establishment of 563 "Party Flag" teams in the aviation sector, which have successfully completed 189 quality assurance projects, demonstrating the effectiveness of party-led initiatives in driving industrial reform [5][6]. Group 3: Collaborative Efforts - The current external uncertainties and pressures for industrial transformation highlight the importance of innovative breakthroughs in the industrial ecosystem, requiring continuous collaboration among party, government, enterprises, and society [7]. - The focus is on enhancing six key strengths: political leadership, technological innovation, competitive edge in advanced industries, leadership from key enterprises, industry-wide collaboration, and talent-driven initiatives [7]. Group 4: Future Directions - The city’s economic and information committees are encouraged to leverage their advantages in coordination and collaboration to build a more mature and competitive industrial ecosystem [7]. - Emphasis is placed on maintaining a strict and practical approach, focusing on both personnel and tasks to develop a capable and dynamic workforce in the industrial sector [7][8].
航发动力: 中国航发动力股份有限公司2024年度权益分派实施公告
Zheng Quan Zhi Xing· 2025-06-20 10:49
一、 通过分配方案的股东会届次和日期 本次利润分配方案经公司2025 年 5 月 16 日的2024年年度股东会审议通过。 证券代码:600893 证券简称:航发动力 公告编号:2025-015 中国航发动力股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏,并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示: ? 每股分配比例 A 股每股现金红利0.097元(含税) ? 相关日期 股份类别 股权登记日 最后交易日 除权(息)日 现金红利发放日 A股 2025/6/26 - 2025/6/27 2025/6/27 ? 差异化分红送转: 否 人,向公司主管税务机关提出享受税收协定待遇的申请,主管税务机关审核后, 按已征税款和根据税收协定税率计算的应纳税款的差额予以退税。 二、 分配方案 截至股权登记日下午上海证券交易所收市后,在中国证券登记结算有限责任 公司上海分公司(以下简称中国结算上海分公司)登记在册的本公司全体股东。 本次利润分配以方案实施前的公司总股本2,665,594,238股为基数,每股派发 现金红利0.097元(含税),共计派发现金红利258 ...
盘点:值得关注的“投资成都”全球招商大会签约项目
Sou Hu Cai Jing· 2025-06-19 11:13
近期举行的2025"投资成都"全球招商大会,在大会前后共计310个合作项目完成签约,在各个子活动上也有多个项目签约的信息释放。天虎科技对 部分值得关注的重要签约项目信息做简要梳理。 重大产业化项目 成都先进投资公司参与了"星算"计划全球总部项目。此外,该公司还参与了航发成发增资项目。该项目是深化央地战略合作,全力支持本土链主 龙头发展,助推航空产业强链补链和"立园满园"的生动体现。通过推动航发成发产品研发及核心能力建设,带动复合材料、精密制造等发动机产 业链提档升级,共同打造更多"成都造"的高端航空装备。 在天府新区举办的航空航天产业招投联动对接会上,举行了航空航天产业及上下游领域相关项目集中签约仪式,高巨成都创新总部项目、伽利略 商业卫星国际航站楼等一批项目现场签约,集中呈现一批航空航天产业及上下游领域的合作成果,涵盖技术研发、成果转化、产业园区建设等多 元业态,标志着成都航空航天产业在招投联动机制下迈出实质性步伐。 人工智能产业项目 在锦江区举行的人工智能产业合作伙伴对接会上,5个重大产业化项目现场签约,四川成都锦江经济开发区管委会分别与成都云枢智航无人机科技 有限公司、天府丝路(成都)科技有限公司、正成 ...
东吴证券晨会纪要2025-06-19-20250619
Soochow Securities· 2025-06-19 03:26
Macro Strategy - The report indicates that exports are expected to show a trend of high in the first half and low in the second half of the year, with a warning about the risk of negative export growth in the fourth quarter due to high base effects [1][9][10] Fixed Income - Anker Convertible Bond is projected to have a listing price between 127.29 and 141.30 RMB, with a subscription rate of 0.0036%. The bond has a solid debt protection and is rated AA+/AA+ [2][12] - Electric Chemical Convertible Bond is expected to list between 131.46 and 145.94 RMB, with a subscription rate of 0.0022%. The bond also has good debt protection and is rated AA/AA [2][14] Industry Analysis - The non-bank financial sector is currently undervalued, providing a safety margin. The insurance industry is expected to benefit from economic recovery and rising interest rates, with a focus on health and pension insurance [3][15][16] - The defense and military industry is highlighted for the CJ-1000A engine, which is crucial for the C919 aircraft, showcasing significant technological advancements and potential market growth in the commercial aviation sector [4][17][19] - The computer industry is experiencing a surge in demand for consumer-grade 3D printers, with a reported 40% year-on-year increase in production. This sector is expected to grow rapidly due to the rise of creative industries and lower user barriers [6][20][21] Recommended Stocks - The report recommends Kuaijishan (601579) for its growth potential, projecting net profits of 2.3 billion, 2.8 billion, and 3.3 billion RMB for 2025-2027, with corresponding PE ratios of 44, 36, and 31 [7][22]
国海证券晨会纪要-20250619
Guohai Securities· 2025-06-19 01:35
Group 1: Global Gas Turbine and Aerospace Engine Demand - The demand for gas turbines is expected to surge, with GE Vernova projecting a backlog of 60GW by the end of 2025, with orders signed until 2028 [3][4] - In Q1 2025, GE Vernova added 7.1GW in new gas turbine orders, a 44.9% year-on-year increase, primarily from heavy-duty gas turbine orders [3][4] - The aerospace engine market is experiencing robust demand, with Boeing reporting a net addition of 300 aircraft orders in May 2025, raising its backlog to 5943 aircraft [5][6] Group 2: High-Temperature Alloy and Chromium Salt Industry - The growth in gas turbine and aerospace engine demand is driving the need for high-temperature alloys, with domestic manufacturers poised to benefit from supply chain constraints [9][13] - Companies like Zhenhua Co. and Sry New Materials are expanding their production capabilities and reporting significant revenue growth from overseas markets [9][10] - The high-temperature alloy sector is rated as "recommended" due to the increasing demand for core components amid supply chain shifts towards China [13] Group 3: Coal Industry Dynamics - In May 2025, China's industrial raw coal production reached 400 million tons, a year-on-year increase of 4.2%, indicating a recovery in the coal supply [15][18] - The industrial electricity generation in May 2025 showed a positive shift, with coal-fired power generation increasing by 1.2% year-on-year, reversing a previous decline [19][22] - The coal market is witnessing a gradual improvement in supply-demand dynamics, with coal prices stabilizing and inventory levels decreasing [21][23] Group 4: Real Estate and Land Market Factors - The land market's performance is influenced by five key factors, including financing environment, new housing market stability, inventory reduction, sales model changes, and land supply rules [24][27] - The first quarter of 2025 showed a significant recovery in the real estate market, with new housing transactions positively impacting land market activity [29][30] - The land market is entering a "dual concentration" phase, with significant activity concentrated in major cities and among top real estate firms [25][26] Group 5: Company-Specific Developments - Xiaogoods City (600415.SH) is leveraging its position in Yiwu to enhance its global trade capabilities, with a projected revenue growth of 25% from 2025 to 2027 [36][39] - Huayi Group is diversifying its operations across five core business areas, reporting a revenue increase of 9.3% in 2024 [40]
CJ-1000A突破国际技术封锁,助力C919实现航空中国心
Soochow Securities· 2025-06-18 11:08
Investment Rating - The report maintains an "Overweight" rating for the defense and aerospace industry [1]. Core Insights - The CJ-1000A engine, developed independently in China, is set to replace the imported LEAP-1C engine for the C919 aircraft, showcasing significant technological advancements and a complete domestic supply chain [4][9]. - The global demand for commercial turbofan engines is projected to exceed 8,700 units over the next 20 years, with a market value of approximately $1.5 trillion, indicating a robust growth opportunity for the Chinese aviation sector [22][23]. - The CJ-1000A is expected to capture over 50% of the domestic narrow-body market once it achieves full import substitution, with a projected annual demand of around 200 units by 2029 [23][24]. Summary by Sections 1. CJ-1000A Development - The CJ-1000A is China's first independently developed high-bypass turbofan engine, specifically designed for the C919 narrow-body aircraft, featuring advanced materials and technologies [9][11]. - The engine's thrust of 13.5 tons and a thrust-to-weight ratio of 4.5 significantly outperform the LEAP-1C engine, which has a thrust of 13 tons and a thrust-to-weight ratio of 3.3 [13][14]. 2. Market Potential - The Chinese commercial aviation engine market is expected to grow substantially, with a forecasted market size of 2.4 trillion yuan over the next 20 years, driven by the anticipated delivery of 9,000 new aircraft [22][23]. - The CJ-1000A's market demand is closely linked to the production capacity of the C919, with projections indicating a strong correlation between aircraft production and engine demand [23][24]. 3. Competitive Landscape - The global commercial aviation engine market is currently dominated by Western companies, but the emergence of the CJ-1000A is expected to disrupt this oligopoly, providing opportunities for market share growth in China [29][30]. - The CJ-1000A's development is supported by significant government investment, with over 300 billion yuan allocated to enhance its technological capabilities and market readiness [26][28]. 4. Investment Recommendations - The report suggests focusing on key segments such as high-temperature alloys and titanium alloys, which are critical for the CJ-1000A's production, and emphasizes the importance of monitoring the certification process and production ramp-up [33]. - Recommended companies for investment include航发科技, 航亚科技, and 航宇科技, which are positioned to benefit from the growth of the domestic aviation engine market [33].
航发控制: 2024年度权益分派实施公告
Zheng Quan Zhi Xing· 2025-06-18 09:14
Core Viewpoint - The company has announced its profit distribution plan for the fiscal year 2024, which was approved at the shareholders' meeting held on April 28, 2025, detailing the dividend payout to shareholders [1] Summary by Sections Profit Distribution Plan - The profit distribution plan includes a total of 508,181,307.37 yuan of undistributed profits carried forward to the next fiscal year, with no capital reserve fund being converted into share capital this year [1] Dividend Payout Details - The company will distribute a dividend of 1.7200 yuan per 10 shares (before tax) to all shareholders based on the total share capital of 1,315,184,001 shares. For specific categories of investors, different tax treatments apply, such as 1.5480 yuan for certain Hong Kong market investors and varying tax rates for individual shareholders based on their holding periods [1][2] Key Dates - The record date for the dividend distribution is set for June 25, 2025, with the ex-dividend date also on June 25, 2025 [2] Eligible Shareholders - The dividend will be distributed to all shareholders registered with the China Securities Depository and Clearing Corporation Limited Shenzhen Branch as of the record date [2] Distribution Method - The dividends will be directly credited to the shareholders' accounts through their respective securities companies or other custodial institutions [2]
为产业生态注入强劲动能 成都产投集团投资引领再发力
Sou Hu Cai Jing· 2025-06-18 08:40
Group 1 - The "Investment Chengdu" Global Investment Conference highlighted significant projects, including the signing of the "Star Calculation Plan" global headquarters and major funding for the aviation industry [1] - Chengdu Investment Group's investment of 1 billion yuan in the aviation engine company aims to enhance local industry capabilities and support the development of high-end aviation equipment [1] - The group has implemented over 60 major industrial projects, attracting a total investment of approximately 400 billion yuan, contributing to the modernization of the local industrial system [1][6] Group 2 - The electronic information industry is a key focus for Chengdu, with efforts to attract major companies in the semiconductor sector to address challenges in chip production [2] - Chengdu Investment Group has successfully established a Micro-LED production line, marking a significant advancement in next-generation display technology [2] - The group is actively involved in national funds to support major projects, with over 10 billion yuan expected to be reinvested in Chengdu [2] Group 3 - The equipment manufacturing sector is crucial for the economy, with Chengdu Investment Group supporting local companies in the aerospace industry and promoting the development of high-end power equipment [3] - A new manufacturing center for turbine and engine core equipment is under construction, expected to produce 100 units annually and generate over 5 billion yuan in annual output [3] Group 4 - Chengdu Investment Group is driving the green transformation of industries, focusing on lithium battery production and clean energy initiatives [5] - The group has attracted leading companies in the battery sector and is investing in hydrogen energy projects to support the development of a world-class lithium battery industry [5] Group 5 - Chengdu Investment Group has invested in various innovative projects in the low-altitude and commercial space sectors, enhancing the city's competitiveness in these emerging industries [5] - The successful launch of the world's first space computing constellation by Guoxing Aerospace signifies Chengdu's advancements in commercial space [4][5] Group 6 - The group is focused on nurturing long-term capital and has plans to establish a third phase of its industrial fund to support major industrial projects [6] - Chengdu Investment Group aims to optimize the local industrial system, promoting collaboration across various sectors and enhancing the overall economic landscape [6]