新华社北京12月10日电 题：步调一致绘蓝图 因地制宜启新篇——多省份"十五五"规划建议观察 新华社记者 党的二十届四中全会审议通过的《中共中央关于制定国民经济和社会发展第十五个五年规划的建 议》，为"十五五"时期我国经济社会发展擘画了宏伟蓝图。 作为最早一批出台的地方"十五五"规划建议，这份文件提出"到2030年，我省经济实力、科技实 力、综合竞争力大幅跃升，人均地区生产总值接近发达经济体水平"，经济大省浙江在谋划未来五年发 展上迈出关键一步。 在国家发展大局中找准定位，在新起点新征程担当作为。 广东提出"'百县千镇万村高质量发展工程'取得重大进展，乡村全面振兴大步向前"；山东明确"继续 在服务和融入新发展格局、增强经济社会发展创新力、推动黄河流域生态保护和高质量发展上走在 前"；河南提出"全国统一大市场循环枢纽和国内国际市场双循环支点作用明显增强"……锚定发展目 标，经济大省挑大梁作用更加彰显。 截至12月上旬，围绕《建议》提出的主要目标和战略任务，先后已有20余个省份审议通过了地 方"十五五"规划建议，其中大多省份对外公布了地方"十五五"规划建议。 新的历史征程即将开启。在以习近平同志为核心的党中央坚强 ...

（文章来源：证券日报） 证券日报网讯 12月9日，三角防务在互动平台回答投资者提问时表示，公司主营聚焦航空、航天、船舶 等行业锻件产品的研制、生产、销售和服务，产品广泛应用于航空、航天等领域。关于具体装备的配套 信息，请参考公开信息披露报告。 ...

12月5日（周五），铝制品产商Constellium的首席执行官Jean-Marc Germain周五表示，欧盟应取消迫在 眉睫的碳边境税，该税可能会通过提高成本和使污染更严重的海外供应商受益，令欧盟铝行业陷入长期 衰退风险。 欧盟的碳边境调整机制（CBAM，即"碳边境税"）将从1月开始对少数进口大宗商品征税，旨在保护欧 洲生产商免受气候监管法规相对宽松产地更便宜的竞争对手的影响。但行业人士认为该机制存在严重缺 陷，并希望本月欧盟对该机制的最终调整能够解决他们的担忧。 "关于CBAM，首先要做的就是根除它，摆脱它。问题的核心是欧洲的竞争力。我们故意搬起石头砸自 己的脚。" 他称，铝升水上涨意味着铝产品成本增加，这意味着无论来源如何，所有铝供应都变得更为昂贵。他警 告称，对于Constellium在欧洲的工业客户来说意味着成本通胀走升。 他称，CBAM的漏洞意味着海外供应商可以通过运送废料来避免被征税，或者可以将低碳铝运往欧洲并 继续为其他地区供应高碳铝。"这对地球没有任何好处。" 他指出，CBAM的影响不会立竿见影，但最终可能会看到业者投资其他地方并关闭欧洲的产能，"这将 是一个逐渐衰退的过程。" Const ...

Core Viewpoint - The stock of Aviation Power Control has experienced a decline in both price and trading volume, reflecting a challenging financial performance in recent periods [1][2]. Financial Performance - For the period from January to September 2025, Aviation Power Control reported a revenue of 3.968 billion yuan, a year-on-year decrease of 5.75% [2]. - The net profit attributable to shareholders was 401 million yuan, down 36.25% compared to the previous year [2]. Stock Performance - As of November 26, the stock price of Aviation Power Control was 19.00 yuan per share, with a year-to-date decline of 13.90% [1]. - The stock has seen a decrease of 0.78% over the last five trading days, 0.37% over the last twenty days, and 9.82% over the last sixty days [1]. Shareholder Information - As of November 20, the number of shareholders for Aviation Power Control was 67,400, a decrease of 0.33% from the previous period [2]. - The average number of circulating shares per shareholder increased by 0.34% to 19,513 shares [2]. Dividend Distribution - Since its A-share listing, Aviation Power Control has distributed a total of 900 million yuan in dividends, with 514 million yuan distributed over the last three years [3]. Institutional Holdings - As of September 30, 2025, the top ten circulating shareholders included notable funds such as 华夏军工安全混合A and 富国中证军工龙头ETF, with significant increases in their holdings [3].

Core Viewpoint - The company reported a decline in revenue and net profit for the first three quarters of 2025, but its core business remains stable with a solid long-term foundation [2][9]. Financial Performance - For the first three quarters of 2025, the company achieved operating revenue of 2.039 billion yuan, a year-on-year decrease of 7.14% - The net profit attributable to shareholders was 400 million yuan, down 8.23% year-on-year - The third quarter alone saw operating revenue of 679 million yuan, a decrease of 1.14% year-on-year, and net profit of 120 million yuan, down 4.01% year-on-year [2][9]. Investment Projects - The company is implementing five fundraising investment projects, including high-performance elastic materials and parts for aviation, and has made significant progress in the high-performance elastic materials project, with the factory structure completed [3]. - The large aircraft windshield project is being reassessed due to changes in macroeconomic conditions and market demand [3]. Acquisition Progress - The company approved the acquisition of the Jiangsu Titanium Alloy Company, which will become a wholly-owned subsidiary, enhancing its titanium alloy production capacity, particularly for international aerospace applications [4]. Overseas Market Development - The company has become a qualified supplier for several international engine manufacturers, with overseas market revenue of 146 million yuan in the first three quarters, reflecting a year-on-year increase of 13.53% [5]. Corporate Governance - The company is actively working on revising its governance structure to comply with new regulations, including the cancellation of the supervisory board and the establishment of an audit committee [5]. Strategic Planning - The company is focused on high-quality development and innovation as part of its "14th Five-Year Plan," aligning with national policies and industry trends [6]. Employee Shareholding - As of September 30, 2025, the company has seven employee shareholding platforms holding a total of 21.27 million shares, accounting for 4.73% of the total share capital [7]. Share Lock-up Commitments - The company's directors and senior management have committed to extending the lock-up period for their shares by six months and will not sell shares below the issue price within two years after the lock-up period ends [8].

Core Viewpoint - The company,航发控制, is a leading enterprise in the field of aircraft engine control systems, with strong technical accumulation and research capabilities, focusing on the development, production, sales, and repair of aviation and aerospace engine control systems, as well as automotive and motorcycle parts [1] Financial Performance - In Q3 2025, the company achieved operating revenue of 3.968 billion yuan, ranking 8th among 48 companies in the industry, while the industry leader, 中航西飞, reported revenue of 30.244 billion yuan [2] - The company's net profit for the same period was 405 million yuan, placing it 9th in the industry, with the top performer, 中航沈飞, reporting a net profit of 1.369 billion yuan [2] Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 19.28%, down from 22.71% year-on-year, significantly lower than the industry average of 39.42%, indicating strong solvency [3] - The company's gross profit margin was 26.13%, a decrease from 29.71% year-on-year, and below the industry average of 30.54%, suggesting a need for improvement in profitability [3] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 1.24% to 66,100, with an average holding of 19,900 circulating A-shares, which increased by 1.25% [5] - Major shareholders include 华夏军工安全混合A and 富国中证军工龙头ETF, with significant increases in their holdings [5] Business Outlook - The company is expected to maintain a high level of repair business during the "十五五" period, with a revenue completion rate of 74.9% for the first three quarters of 2025 [5] - The company is actively expanding its foreign aviation power equipment market and is projected to achieve net profits of 637 million yuan, 736 million yuan, and 841 million yuan from 2025 to 2027 [5] - The company is positioned to benefit from the rapid development of military aviation engines and the growing domestic civil aviation market [6]

Core Insights - Washington, Inc. (Expeditors International of Washington, Inc., NYSE:EXPD) is recognized as one of the 11 Best Value Dividend Stocks to buy currently [1] - The company operates as a global logistics and freight forwarding firm, providing air, ocean, and customs brokerage services, focusing on managing carrier relationships and advancing proprietary technology [2] - Expeditors has a strong dividend profile, currently offering a quarterly dividend of $0.77 per share, with a 5.5% increase in May, marking 31 years of dividend growth and a yield of 1.26% as of September 26 [3] Company Operations - The company emphasizes collaboration with air and ocean carriers to secure capacity and control costs, while investing in in-house technology for shipment tracking and real-time analytics [4] - Long-term success is tied to navigating complex regulatory requirements and maintaining a compliance-focused culture that ensures reliable customer service [4]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has announced that Chengli Aviation Co., Ltd. has initiated the listing guidance process with Guangfa Securities as the advisory institution [1] Company Overview - Chengli Aviation was established on February 12, 2015, with a registered capital of 108 million yuan [1] - The legal representative of the company is Chen Li [1] - The major shareholders include Chen Xiaohong, Chen Li, and Chen Cheng, who collectively hold 25.07% of the company's equity and control 44.11% of the company's shares [1] Industry Position - Chengli Aviation is recognized as the only specialized company in China engaged in the design, research and development, and production of aviation, aerospace, gas turbine combustion chambers, and fuel injection systems [1] - The company is classified as a national key high-tech enterprise and a national specialized and innovative "little giant" enterprise [1]

Group 1 - The stock price of AVIC Control has dropped by 2.82% on September 4, reaching 18.95 CNY per share, with a trading volume of 320 million CNY and a turnover rate of 1.27%, resulting in a total market capitalization of 24.923 billion CNY [1] - AVIC Control's stock has experienced a continuous decline for four consecutive days, with a cumulative drop of 10.15% during this period [1] - The company, established on June 20, 1997, specializes in the research, production, sales, and repair of aviation and aerospace engine control systems, as well as automotive and motorcycle parts [1] Group 2 - Among the top ten circulating shareholders of AVIC Control, a fund under the Fortune Fund ranks first, specifically the Fortune CSI Military Industry Leader ETF (512710), which newly entered the top ten with 15.1609 million shares, accounting for 1.15% of circulating shares [2] - The Fortune CSI Military Industry Leader ETF (512710) has a current scale of 11.914 billion CNY and has achieved a return of 10.35% this year, ranking 3505 out of 4222 in its category [2] - The fund managers, Wang Lele and Niu Zhidong, have tenures of 10 years and 118 days, respectively, with significant variations in fund performance during their management periods [2]

Core Viewpoint - Lockheed Martin faces challenges as a century-old contractor, struggling to deliver returns that exceed market expectations due to its cost-plus contracting model and limited profit margin potential [1][14][16]. Financial Performance - In the second quarter, Lockheed Martin reported sales of $18.155 billion, which was flat year-over-year and below the expected $18.5 billion. The growth was primarily driven by the Missiles and Fire Control segment, which increased by 11%, while the Rotary and Mission Systems segment saw a decline of 12% [4][6]. - The operating margin significantly dropped from 11.9% in Q2 2024 to 4.1% in Q2 2025, largely due to losses in the Aeronautics and Rotary and Mission Systems segments [6][7]. - The company maintained its sales guidance for the year at $73.750 billion to $74.750 billion, with a year-over-year growth expectation of 4% to 5%. However, profit expectations were lowered due to $1.8 billion in project costs [8][9]. Future Outlook - Analysts predict that even if Lockheed Martin meets its sales targets, the growth rate will be below the 5% achieved in 2024, with actual growth remaining weak after accounting for inflation [9][10]. - Earnings per share (EPS) estimates show a decline of 21.86% for December 2025, followed by a rebound of 33.5% in December 2026, with a long-term growth rate of around 7% expected thereafter [10][11]. - Revenue estimates indicate a gradual increase, with projected revenues of $74.30 billion in December 2025, growing to $82.00 billion by December 2028, but at a declining growth rate [11]. Investment Considerations - Lockheed Martin may appeal to investors looking for short-term gains during undervaluation or those seeking stable dividends, but its long-term growth potential appears limited [12][16]. - The current stock price is $450, with a price-to-earnings (P/E) ratio of 20, which is close to its historical low and about 6% lower than the five-year average valuation [13][14].