未知机构：中国航发太行系列燃气轮机通过验收随着航空强国战略推进国产民-20260120

Summary of Conference Call Notes Industry Overview - The conference call discusses the aerospace industry in China, particularly focusing on the domestic aviation engine market, which currently has a marketization rate of less than 1% for civilian engines, indicating significant potential for domestic substitution [1] Key Points - The "Aviation Power Nation" strategy is being advanced, highlighting the need for increased domestic production and innovation in aviation engines [1] - Investment logic within the industry is shifting from complete aircraft manufacturers to core component suppliers with more predictable performance, suggesting a strategic focus on companies that provide critical products such as blades, casings, and control systems [1] - Companies that are closely tied to China Aviation Engine Group (中国航发) and are involved in key models like CJ1000 and CJ2000 are becoming focal points for investment [1] Important Considerations - The establishment of joint ventures, such as the one between AVIC Composite (中航复材) and China Aviation Engine Group, aims to target the production of composite material blades for engines, which could enhance competitive positioning in the market [1]