Core Viewpoint - The 7th China Helicopter Expo will be held from October 16 to 19 in Tianjin, showcasing the "Purple Fire" future aircraft concept for the first time by AVIC and AVIC Helicopter [1] Group 1: Event Highlights - The expo will feature a comprehensive display of helicopter products, emphasizing the strength of the industry and showcasing innovations in both helicopter and low-altitude economy sectors [1] - The main exhibition will focus on five modules: "System Warfare," "Emergency Rescue," "Scientific Research Innovation," "System Support," and "Comprehensive Services," highlighting advanced design, manufacturing, and integrated service capabilities [1] - A total of 52 aircraft will be exhibited, including 38 helicopters, with notable models such as the Army Z-10, Z-19, Z-20/20T (first flight display of Z-20 assault helicopter), Z-8L, and various drones [1] Group 2: Business Development - The company is enhancing its helicopter business while expanding into the civil aviation sector and pursuing breakthroughs in military trade [2] - In the first half of the year, the company made steady progress in product and technology development, with the 13-ton AC313A helicopter completing modifications and resuming flight in June [2] - The company has formed a market development team to explore the civil aviation market and low-altitude economy, resulting in new orders for three AC311A helicopters and collaboration on eleven AC311A procurement evaluations [2] Group 3: Military Trade and Financial Performance - Pakistan's military has integrated the Chinese-made Z-10ME armed helicopter into its aviation forces, marking a significant step in defense modernization [3] - The company reported stable revenue growth in the first half of 2025, achieving operating income of 10.241 billion yuan (+25.28%) and a net profit of 282 million yuan (-5.12%) [3] - The company's gross profit margin for the first half of 2025 was 6.28% (-6.82 percentage points), with a net profit margin of 2.31% (-1.27 percentage points) [4] Group 4: Profitability Forecast - The company is positioned as a leading supplier of helicopters and components in China, capitalizing on military trade and low-altitude economic opportunities [4] - Projected net profits for 2025-2027 are 681 million yuan, 828 million yuan, and 987 million yuan, with corresponding EPS of 0.83, 1.01, and 1.20 yuan, and PE ratios of 45.74, 37.64, and 31.56 [4]