军工股继续走高，截至发稿，中船防务（600685）(00317)涨6.6%，报15.82港元；中航科工(02357)涨 4.8%，报3.93港元；航天控股(00031)涨1.96%，报0.52港元。 申万宏源发布研报称，随着全球地缘政治不确定性增加，全球军贸需求不断扩大，国际军贸市场发生新 的格局变化。而随着产品迭代加快且体系能力强化，我国产品性能和供给能力获得高度认可，中国潜在 需求明显扩大，中东、亚洲等市场订单催化不断，所以预计我国军贸的需求与供给将会持续强烈共振， 从而造就中国军贸未来大格局。 消息面上，2025迪拜国际航空展上，中国展团亮点频出，挂载霹雳导弹的歼-10CE、歼-35A、运-20，以 及阿联酋空军装备的L-15教练机和多款翼龙、旋戈系列无人机等装备悉数亮相。中国C919大飞机首次 在中东亮相，航天飞鹏50架无人运输机订单落定迪拜。兴业证券指出，迪拜航展盛大召开，防务观察迎 新窗口。 ...

智通财经APP获悉，军工股继续走高，截至发稿，中船防务(00317)涨6.6%，报15.82港元；中航科工 (02357)涨4.8%，报3.93港元；航天控股(00031)涨1.96%，报0.52港元。 申万宏源发布研报称，随着全球地缘政治不确定性增加，全球军贸需求不断扩大，国际军贸市场发生新 的格局变化。而随着产品迭代加快且体系能力强化，我国产品性能和供给能力获得高度认可，中国潜在 需求明显扩大，中东、亚洲等市场订单催化不断，所以预计我国军贸的需求与供给将会持续强烈共振， 从而造就中国军贸未来大格局。 消息面上，2025迪拜国际航空展上，中国展团亮点频出，挂载霹雳导弹的歼-10CE、歼-35A、运-20，以 及阿联酋空军装备的L-15教练机和多款翼龙、旋戈系列无人机等装备悉数亮相。中国C919大飞机首次 在中东亮相，航天飞鹏50架无人运输机订单落定迪拜。兴业证券指出，迪拜航展盛大召开，防务观察迎 新窗口。 ...

2025迪拜国际航空展上，中国航空工业的参展表现成为本届航展的一大亮点。 此外，中国C919大飞机首次在中东亮相，航天飞鹏50架无人运输机订单落定迪拜。据新华社转引中国南方航空公司报道，中国南方航空一架C919飞机于当 地时间14日凌晨1点15分顺利抵达阿联酋迪拜阿勒马克图姆国际机场，参加17日至21日举行的2025年迪拜航空展。据航天飞鹏公众号，航天飞鹏与阿联酋重 要合作伙伴在展会现场正式签署50架无人运输机采购协议。此次签约的无人机产品深度适配中东高温、沙尘等特殊环境，后续将持续深耕阿联酋低空交通网 络建设，为无人低空物流场景提供高效解决方案。 军工ETF（512660）覆盖海陆空天信全产业链，规模居同类产品第一 基本面看，国防军工板块基本面坚实。兴业证券表示，"十五五"期间国防和军队建设精准化要求高，预计结构分化将更加显著。高成长投资方向重点关注： 精确制导武器、新型航空装备、水下装备、无人智能等。此外，在必须走高效益、低成本、可持续发展路子的导向下，竞争格局好，生产力高效、能支撑军 队低成本高效益发展的企业值得关注。 军工ETF（512660）覆盖海陆空天信全产业链，是把握行业配置机会的重要工具，规模 ...

Core Viewpoint - The J-10 aircraft represents a significant achievement in China's aviation industry, showcasing the country's self-reliance and innovation in developing advanced military technology [2][3][21]. Group 1: Development and Achievements - The J-10CE aircraft achieved its first combat success in May 2025, successfully downing multiple enemy aircraft without sustaining any losses [2]. - The J-10 aircraft is a third-generation fighter jet entirely designed and developed by China, marking a milestone in the country's military aviation capabilities [8][21]. - The J-10 project was initiated in the early 1980s to address the technological gap with developed countries, leading to the establishment of a new generation of fighter jets [5][6][21]. Group 2: Design and Engineering Process - The design process involved extensive wind tunnel testing and innovative aerodynamic layouts, including the adoption of a canard configuration to enhance lift characteristics [6][8]. - The development of the full-scale metal prototype was a significant milestone, completed in less than two years, which was unprecedented in the history of Chinese aviation [9][10]. - The project faced numerous challenges, including the need for manual drilling of thousands of rivet holes, which required exceptional teamwork and dedication from the engineers and workers involved [17][18]. Group 3: Testing and Validation - The J-10 underwent rigorous testing, including successful flight control system simulations and live-fire missile tests, which validated its combat capabilities [19][20]. - The aircraft achieved a record of completing its test flights without any crashes, a remarkable feat for a third-generation fighter jet [20]. - The successful completion of the J-10's development and testing phases led to its formal induction into the Chinese military in 2003 [22][21]. Group 4: Legacy and Future - The J-10 has paved the way for subsequent advancements in China's military aviation, including the development of the J-20 and J-35 fighter jets, which continue to enhance the country's defense capabilities [26][28]. - The spirit of innovation and dedication demonstrated during the J-10's development serves as an inspiration for future generations of aviation professionals in China [27][28].

Core Viewpoint - The recent India-Pakistan air conflict has highlighted the military capabilities of the Chinese weapons systems, which have successfully engaged in real combat, raising concerns among Taiwan's pro-independence youth about their own defense capabilities [1][3][6]. Summary by Sections Air Conflict Overview - On May 7, an air battle between India and Pakistan resulted in Pakistan's air force shooting down five Indian aircraft, including two Dassault Rafale jets, each valued at $288 million [2]. - The conflict showcased the effectiveness of Chinese-produced weapon systems in a real combat scenario, marking a significant achievement for China's military technology [3]. Implications for Taiwan - The defeat of advanced Indian aircraft by Chinese systems has implications for Taiwan, which relies on older French Mirage 2000 jets, raising doubts about their effectiveness against modern Chinese military capabilities [6][7]. - The comparison between the advanced Rafale and the outdated Mirage 2000 emphasizes Taiwan's vulnerability in the face of modern warfare [7]. Reactions and Analysis - The silence from Taiwan's pro-independence factions and media contrasts sharply with the excitement among Chinese and Pakistani netizens following the air conflict [4][8]. - The Chinese government has maintained a low profile regarding the conflict, focusing instead on peaceful reunification with Taiwan and the benefits of modernization for both sides [5][9][10]. Broader Context - The air conflict serves as a wake-up call for Taiwan's youth, particularly those supporting independence, who may not fully grasp the military realities posed by the Chinese military [13][14]. - The article suggests that a more comprehensive understanding of mainland China, beyond military might, includes the potential for shared prosperity and modernization [14].

Core Viewpoint - The recent air combat between India and Pakistan marks a significant event in modern warfare, showcasing the effectiveness of Chinese weapon systems in real combat for the first time, leading to a military revolution [2]. Group 1: Air Combat Details - On May 7, an air battle occurred where the Pakistan Air Force shot down five Indian aircraft, including two French Dassault "Rafale" jets, each valued at $288 million [1]. - The combat demonstrated a high level of coordination among various military systems, including ground-to-air missile systems, aircraft, and early warning systems, highlighting a new era in military strategy [2]. Group 2: Implications for Taiwan - The defeat of the advanced "Rafale" jets raises concerns for Taiwan, which operates older Mirage-2000 jets, suggesting a significant disparity in military capability [5]. - The air combat has left pro-independence factions in Taiwan silent, reflecting their apprehension regarding the military capabilities of the People's Liberation Army [6]. Group 3: Official Responses - The Chinese mainland's official response has been low-key, focusing on peaceful unification with Taiwan while preparing for all scenarios [8]. - A recent seminar on cross-strait relations emphasized the benefits of modernization for both sides, avoiding direct mention of the air combat to maintain a focus on peaceful dialogue [9].