Group 1 - The city aims to enhance major functional platforms to support the construction of a modern Wuhan, emphasizing the importance of implementing the directives from the 20th Central Committee and Xi Jinping's visit to Hubei [1] - In Caidian District, the focus is on the construction of the Sino-French Wuhan Eco-city and the development of the Wuhan Aviation New Materials Industrial Park, highlighting the need for high standards in infrastructure and attracting foreign investment [1] - The strategy includes strengthening the automotive parts and aviation new materials industries while promoting ecological protection and urban-rural integration [1] Group 2 - In the Dongxihu District, the emphasis is on building a national cybersecurity talent and innovation base, with a goal to develop a world-class cybersecurity academy and foster emerging industries such as cybersecurity and intelligent manufacturing [2] - The district is also focused on enhancing logistics capabilities by developing a national logistics hub and improving multimodal transport networks to support the China-Europe Railway Express [2] - There is a commitment to creating a conducive environment for industrial development, population aggregation, and urban functionality, alongside high-quality urban renewal initiatives [2]

12月21日，市委副书记、代市长熊征宇赴蔡甸区、东西湖区调研。他强调，要深入学习 贯彻党的二十届四中全会和习近平总书记考察湖北重要讲话精神，认真落实省委、省政府和 市委部署要求，坚决扛牢使命责任，以更大力度、更实举措加快提升重大功能性平台能级， 为全力打造"五个中心"、全面建设现代化大武汉提供有力支撑。 在东西湖区，熊征宇走进武汉网络安全大学（筹）网安基地校区，详细了解学校筹建情 况；来到中铁联集武汉铁路集装箱中心站，调研中欧班列（武汉）运行情况。他指出，东西 湖区是两个国家级平台的集中承载地，要扛牢国家网络安全人才与创新基地建设使命，推动 科技创新和产业创新深度融合，培育壮大网络安全、电子信息、智能制造等新兴产业，努力 建设世界一流网络安全学院，做大做强"中国网谷"。要加快建设陆港型国家物流枢纽，完善 多式联运网络，大力发展枢纽经济，助力打造中欧班列华中区域集结中心。要着力营造一流 环境，统筹推进产业发展、人口集聚和城市功能建设，高质量实施"五改四好"城市更新，完 善开发区管理体制和运行机制，更好促进城乡融合和区域联动。 在蔡甸区，熊征宇调研中法武汉生态示范城建设工作，了解重大项目建设情况，实地察 看武汉城 ...

Investment Rating - The report maintains an "Accumulate-A" rating for the company [1][7]. Core Views - The company has shown steady growth in its aerospace new materials business, benefiting from the booming composite materials market. The military aviation market's demand for composite materials remains stable, while the civil aviation market presents new opportunities, particularly in the low-altitude economy and other sectors like new energy [6]. - The company reported a revenue of 2.747 billion yuan for the first half of 2025, a year-on-year increase of 7.87%, and a net profit attributable to shareholders of 605 million yuan, up 0.24% year-on-year [4][5]. Financial Performance - In the first half of 2025, the aerospace new materials business achieved a revenue of 2.717 billion yuan, a year-on-year growth of 7.89%, with a net profit of 644 million yuan, up 1.75% [5]. - The company's gross margin improved by 0.54 percentage points to 37.79% in the first half of 2025 [5]. - The company’s total liabilities reached 2.665 billion yuan, a year-on-year increase of 1.73%, while cash and cash equivalents rose by 10.57% to 1.936 billion yuan [4]. Future Projections - The company is expected to have EPS of 0.96, 1.12, and 1.32 for the years 2025, 2026, and 2027, respectively, with corresponding PE ratios of 27.1, 23.2, and 19.7 based on the closing price of 25.95 yuan on August 22 [7][12]. - Revenue projections for the years 2025 to 2027 are 5.891 billion yuan, 6.901 billion yuan, and 8.152 billion yuan, reflecting year-on-year growth rates of 16.1%, 17.1%, and 18.1% respectively [9][13]. Market Position - The company is recognized as the only professional entity in China engaged in the research and engineering of composite materials in the aviation sector, positioning it as a leader in R&D and results transformation within the domestic market [6]. - The company plans to expand its market presence in civil aviation and the low-altitude economy while consolidating its leadership in military products [6].