Core Viewpoint - The company is positioned in the "big transportation" sector, focusing on dual-engine development strategy, aiming to become a global leader in automotive lightweight components and general aviation manufacturing [17][19]. Financial Performance - In Q3 2025, the company achieved a net profit of 229 million yuan, a year-on-year increase of 38% [8]. - For the first three quarters of 2025, the company reported revenue of 11.416 billion yuan, a year-on-year increase of 0.40%, and a net profit of 729 million yuan, up 29.38% year-on-year [2][8]. - The company's Q3 2025 revenue was 3.922 billion yuan, down 1.93% year-on-year and 0.14% quarter-on-quarter [2][8]. - The gross profit margin for Q3 2025 was 15.3%, a decrease of 0.4 percentage points year-on-year and 3.5 percentage points quarter-on-quarter [3][9]. Business Segments Automotive Lightweight Components - The automotive lightweight components segment generated revenue of 9.385 billion yuan in the first three quarters of 2025, a slight increase of 0.02% year-on-year [19]. - The company is enhancing customer structure and focusing on the development of aluminum and magnesium alloy lightweight applications, aiming to improve production efficiency and reduce costs [19][22]. - The company is also working on the localization of magnesium alloy large die-casting applications to meet the rising demand for lightweight materials in the automotive sector [19][22]. General Aviation and eVTOL - The general aviation manufacturing segment achieved revenue of 2.031 billion yuan in the first three quarters of 2025, a year-on-year increase of 2.20% [20]. - The company is focusing on an innovative manufacturing model that integrates R&D, technology transfer, manufacturing, and after-sales service [20][26]. - The acquisition of Volocopter's core assets in March 2025 is aimed at establishing a business ecosystem for urban air mobility solutions [20][25]. - The company is actively developing new aircraft models, including eVTOL and drones, to capture opportunities in the emerging low-altitude economy [20][25]. Market Trends - The company is strategically positioned to leverage the growth of the low-altitude economy and the increasing demand for electric aircraft and eVTOL solutions [20][25]. - The automotive lightweight sector is expected to benefit from the transition to electric vehicles, with the company enhancing its collaboration with key new energy customers [21][22].

资料显示，西安晨曦航空科技股份有限公司位于陕西省西安市高新区锦业路69号创业园C区11号，成立 日期2000年2月24日，上市日期2016年12月20日，公司主营业务涉及研发、生产、销售航空机电产品及 提供相关专业技术服务。主营业务收入构成为：航空惯性导航产品46.13%，航空惯性导航产品:光纤捷 联惯性导航系统41.02%，航空惯性导航产品:导航计算机组件5.89%，航空发动机电子产品3.25%，航空 发动机电子产品:航空发动机参数采集器3.25%，其他产品销售2.17%。 11月19日，晨曦航空涨5.29%，截至发稿，报17.50元/股，成交4.79亿元，换手率5.09%，总市值96.27亿 元。 刘庭宇累计任职时间2年99天，现任基金资产总规模213.54亿元，任职期间最佳基金回报91.45%， 任职 期间最差基金回报2.94%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 通用航空ETF（159378）基金经理为张璐、刘庭宇。 截至发稿，张 ...

每经头条（nbdtoutiao）——段睿：我与蔡磊是 "找钥匙的人"，纵使生前寻不到，也要为其他渐冻症患 者铺就近路 （记者 曾健辉） 2025年1至6月份，宝利国际的营业收入构成为：沥青行业占比97.0%，通用航空占比3.0%。 截至发稿，宝利国际市值为40亿元。 每经AI快讯，宝利国际（SZ 300135，收盘价：4.37元）11月18日晚间发布公告称，公司第七届第一次 董事会会议于2025年11月18日在公司会议室召开。会议审议了《关于选举公司第七届董事会下属专门委 员会委员的议案》等文件。 ...

天眼查App显示，11月11日，中电建航空港（四川）建设发展有限公司成立，法定代表人为郭智磊，注 册资本1亿人民币，经营范围包括通用航空服务、公共航空运输、人工智能行业应用系统集成服务、智 能无人飞行器制造等。股权全景穿透图显示，该公司由中国电建（601669）旗下中国电建集团航空港建 设有限公司、中国电建集团成都勘测设计研究院有限公司、中电建西部建设投资发展有限公司共同持 股。 ...

本次大会还设置了圆桌论坛环节，围绕"低空新技术如何赋能并引爆传统文旅景区？"这一核心议题，行 业专家、企业代表展开热烈讨论。嘉宾们结合自身实践经验，从技术应用、产品创新、市场拓展等方面 各抒己见，深入探讨了低空新技术与传统文旅景区融合的痛点、难点与突破点，为推动传统文旅景区转 型升级提供了多元视角与可行路径。 此次大会的成功举办，不仅为低空经济与文旅产业的融合发展搭建了高效的交流合作平台，更通过表彰 优秀企业、分享前沿观点，为行业树立了实践标杆与发展方向。（编辑：李佳洹 校对：许浩存 审核： 韩磊） 《中国民航报》、中国民航网 记者冯智君 报道： 11月15日，由宝安低空经济产业协会联合深圳国际旅 游产业博览会主办的2025中国首届低空文旅大会暨"翼动湾区・瞰见未来—低空经济赋能文旅新生态"低 空文旅论坛在深圳举行。大会汇聚了低空经济与文旅领域的众多行业精英，共同探讨两大产业融合发展 的新机遇、新路径，为中国低空文旅产业的高质量发展注入强劲动力。 本次大会特设中国低空文旅优秀企业颁奖仪式，共设三大类别、12个奖项，旨在表彰为行业发展作出突 出贡献的企业。中信海洋直升机股份有限公司、東方之珠遊船有限公司、深圳市 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [6][3]. Core Insights - The company has achieved a net profit of 229 million yuan in Q3 2025, representing a year-on-year growth of 38%. For the first three quarters of 2025, the company reported a revenue of 11.416 billion yuan, up 0.40% year-on-year, and a net profit attributable to shareholders of 729 million yuan, up 29.38% year-on-year [1][9]. - The automotive lightweight components business continues to optimize customer structure and enhance R&D efforts in aluminum and magnesium alloy applications. The company is also expanding its collaboration with key new energy customers [2][25]. - The general aviation aircraft manufacturing business is focused on innovation, with a strong order book and ongoing development of new aircraft models, including eVTOL and drones. The acquisition of Volocopter's core assets aims to create a commercial ecosystem for urban air mobility solutions [2][26]. Summary by Sections Financial Performance - In Q3 2025, the company reported a revenue of 3.922 billion yuan, down 1.93% year-on-year, and a net profit of 229 million yuan, up 38.14% year-on-year. The gross margin for Q3 was 15.3%, a decrease of 0.4 percentage points year-on-year, while the net margin improved by 1.3 percentage points to 6.6% [1][18]. - For the first three quarters of 2025, the automotive lightweight components revenue was 9.385 billion yuan, a slight increase of 0.02% year-on-year, while the general aviation aircraft revenue was 2.031 billion yuan, up 2.20% year-on-year [9][26]. Business Segments - The automotive lightweight components segment focuses on aluminum and magnesium alloys, with ongoing efforts to enhance production efficiency and optimize product structure for new energy vehicles [25][29]. - The general aviation segment is expanding its market presence with a robust order book and continuous innovation in aircraft manufacturing, including the development of eVTOL and other new aircraft models [2][26]. Future Outlook - The company maintains its revenue forecasts for 2025-2027 at 17.843 billion yuan, 19.328 billion yuan, and 21.098 billion yuan, respectively, with net profits projected at 1.001 billion yuan, 1.201 billion yuan, and 1.405 billion yuan [3][35].

Investment Rating - The investment rating for the company is "Outperform the Market" [6][3][35] Core Insights - The company reported a net profit of 229 million yuan in Q3 2025, representing a year-on-year growth of 38%. For the first three quarters of 2025, the company achieved a revenue of 11.416 billion yuan, up 0.40% year-on-year, and a net profit attributable to shareholders of 729 million yuan, up 29.38% year-on-year [1][9] - The company focuses on lightweight automotive components and general aviation aircraft manufacturing, positioning itself as a leader in the low-altitude economy through its eVTOL and other aviation innovations [2][25][28] Summary by Sections Financial Performance - In Q3 2025, the company achieved a revenue of 3.922 billion yuan, down 1.93% year-on-year and 0.14% quarter-on-quarter. The net profit for the same quarter was 229 million yuan, up 38.14% year-on-year and 1.35% quarter-on-quarter [1][9] - The gross margin for Q3 2025 was 15.3%, a decrease of 0.4 percentage points year-on-year and 3.5 percentage points quarter-on-quarter. The net margin improved by 1.3 percentage points year-on-year to 6.6% [1][18] Business Segments - The automotive lightweight components segment generated revenue of 9.385 billion yuan in the first three quarters of 2025, a slight increase of 0.02% year-on-year. The general aviation aircraft manufacturing segment achieved revenue of 2.031 billion yuan, up 2.20% year-on-year [1][26] - The company is enhancing its customer structure and focusing on the development of aluminum and magnesium alloy lightweight applications, while also expanding its collaboration with core new energy customers [2][25] Future Outlook - The company maintains its revenue forecasts for 2025-2027 at 17.843 billion yuan, 19.328 billion yuan, and 21.098 billion yuan, respectively, with net profits projected at 1.001 billion yuan, 1.201 billion yuan, and 1.405 billion yuan [3][35] - The company is actively pursuing opportunities in the low-altitude economy, particularly through the development of eVTOL aircraft and expanding its market presence in urban air mobility solutions [2][28]

Group 1 - The general aviation sector has seen significant gains, with Morningstar Aviation rising over 13%, Zhong Drone increasing over 6%, and AVIC Chengfei up over 4%, contributing to a 1.08% rise in the Southern General Aviation ETF (159283) [1] - The geopolitical uncertainty is expected to increase attention on the military industry, which is poised to benefit from the national strategic deployment as indicated by the "14th Five-Year Plan" [2] - The "14th Five-Year Plan" outlines a new cycle of prosperity for the military industry, with positive statements regarding policy direction and high-quality transformation, which may boost market confidence and consensus [2] Group 2 - The military industry chain's segment density has decreased to a low level, suggesting a favorable environment for growth in the upcoming cycle [2] - The Southern General Aviation ETF (159283) tracks the CSI General Aviation Index, focusing on the aerospace sector within the military industry, and has been receiving continuous net inflows [2]

数据来源于沪深交易所、公开资料等。 11月17日，截至发稿，通用航空ETF华宝（159231）盘中表现平稳，场内价格微涨0.35%。成份股方 面，晨曦航空和天和防务表现最为亮眼，涨幅分别达到7.19%和7.11%，中无人机紧随其后，上涨 3.99%。另一方面，万丰奥威、中信海直和珠海冠宇走势较弱，跌幅分别为1.52%、1.23%和1.0%。 消息面上，11月12日第十五届中国国际航空航天博览会在珠海开幕，首次实现"一展多地"模式，珠海国 际航展中心启用13个展馆，集中展示航空装备领域前沿技术。此外，中国航发在"2025南昌飞行大会"展 出CJ2000等多款发动机，展现民用航空和通用航空动力领域的创新成果，推动航空产业绿色转型。 华福证券指出，11月7日我国首艘电磁弹射型航母福建舰入列，其自主设计的电磁弹射技术达世界先进 水平。当前军工板块市盈率TTM 70.35倍（分位数92.55%），虽短期指数下跌0.47%，但考虑到2025- 2026年十五五计划、建军百年目标及军贸发展等多重催化，行业内外需增长明确，基本面强恢复预期下 配置性价比凸显，新景气周期即将到来。 东北证券指出，国防军工板块基本面逐步复苏，20 ...

人民财讯11月14日电，企查查APP显示，近日，自贡低空研究院有限公司成立，法定代表人为陈俊良， 注册资本5000万元人民币，经营范围涉及通用航空服务、以自有资金从事投资活动、自有资金投资的资 产管理服务等。企查查股权穿透显示，该公司由自贡航空产业投资集团有限责任公司全资持股。 ...