Editor's note of aircraft manufacturing concept stocks: Yang Xiangang, vice president of the Zhuhai Air Show Company, said on the 5th that the 9th China Air Show, which opens in Zhuhai next Tuesday, will welcome nearly 650 Chinese and foreign aerospace manufacturers. During the air show, a general aviation forum and

There will be nearly 60 activities including order signing ceremonies, and the total contract value is expected to exceed the previous US$9.2 billion.

There were multiple procurement signing ceremonies during the exhibition, involving aircraft models including L15 and MA-60 produced by AVIC, COMAC's C919, etc. Listed companies involved in the production of the above-mentioned order products include Hongdu Airlines, XAC International, etc.; at the same time, the exhibition

Several general aviation development forums held during the period may once again boost low-altitude open-concept stocks, such as CITIC Haizhi (000099 Fund Bar, Quotes, Information, Heavy Holdings), Hafei Holdings, etc.

The new engine "lights up" the Zhuhai Air Show. The ninth China Zhuhai Air Show, which will kick off on November 12, has once again ignited the industry's enthusiasm for aero-engine research and development, domestic large aircraft manufacturing, general aviation, etc.

It is reported that this year’s air show has attracted 650 aerospace manufacturers from 39 countries and regions around the world, an increase of 4 countries and 50 manufacturers compared with the previous one. It will become the largest aviation event in history.

In addition to China Ordnance Equipment Corporation, Jihua Group and other domestic arms industry companies that will participate in the exhibition for the first time, AVIC, Aerospace Science and Technology Group, Aerospace Science and Industry Group, etc. will have a stronger lineup this year. New engines, domestic large aircraft, etc. will All were unveiled to demonstrate the latest strength of my country's aircraft manufacturing.

At the same time, nearly 30 general aviation companies, including members of the "AVIC Industry Department", will also make their debut, becoming a new highlight of this air show.

Industry insiders believe that with the increasing expectations for the introduction of domestic aircraft engine project policies, coupled with the debut of "Minshan", "Jiuzhai" engines and domestic aircraft such as MA600, ARJ21-700, C919, etc., concepts related to engine and aircraft manufacturing will

Individual stock prices may be ignited; and this year's large-scale participation of general aviation companies and the numerous general aviation activities at the air show may also stimulate an explosion of listed companies in the general aviation sector.

The reorganization of the aviation engine platform is still expected. As a leading enterprise in the field of aviation engines in my country, Aerodynamics is mainly engaged in the mass manufacturing of aviation engines, the foreign trade subcontracting production of aviation engine parts and the production of non-aviation products.

Due to various reasons, the company's reorganization as an integrated platform for AVIC's aviation engines was suspended last year.

However, industry insiders predict that the company may still start asset restructuring again next year.

According to the Shanghai Securities News, aviation engines are an important direction for my country's industrial upgrading.

The state's investment intensity and emphasis on the aviation industry and engine industry have also gradually increased.

Research institutions generally believe that, as the leading enterprise in the field of aerospace engines in my country, Aerodynamics will become the most direct beneficiary of the promotion of major aeroengine special projects, and the company's overall R&D and industrial strength are expected to reach a higher level.

At present, the company's main products, second-generation engines and third-generation engines, are in the product transition period.

In terms of new products, the company is responsible for nearly one-third of the parts volume of the third-generation engine WS-10.

Huatai Securities believes that the new generation of engine products has not yet achieved mass production, and revenue may face a slowdown in the short term.

But in the long run, engine localization is the general trend, and the company will be the biggest beneficiary.

Guohai Securities believes that the company's aero-engine business has achieved restorative growth in the third quarter and has become the main contributor to the company's third-quarter performance.

According to comprehensive calculations, the company's aerospace engine industry is expected to maintain steady growth in 2012, with a growth rate of approximately 12.7%.

Aviation power: product structure adjustment, will receive major national special support China Merchants Securities Writing time: 2012-10-28 In the first three quarters of 2012, the company achieved operating income of 4.81 billion yuan, a slight increase of 0.4% year-on-year, and a net profit attributable to the parent company of 190 million yuan.

A year-on-year increase of 6.1%, earnings per share were 0.18 yuan, basically in line with analysts' expectations.

Taking into account the country's planned special financial support for the aero-engine industry and the company's resumption of future asset restructuring, the company's cautious recommendation rating is maintained.

Product structure adjustment is still in the transition period.

The aero engines currently produced by the company are mainly old products such as second-generation engines, with limited room for growth. New products such as third-generation engines have not yet been mass-produced. Analysts predict that the company's aero-engine business this year will be basically the same as last year.

Affected by the macro-economy, the company's non-aviation product revenue is expected to see a sharp year-on-year decline this year, while the export subcontracting business will bottom out this year and rebound slightly, and is expected to grow slightly throughout the year.

Gross profit margin remained stable and expense ratio decreased during the period.

The company's comprehensive gross profit margin in the third quarter was 13.5%, which was basically stable quarter-on-quarter and down 1.3 percentage points year-on-year. The company's aero-engine products are in the transition period of upgrading and replacement. After the mass production of the next three generations of products, the gross profit margin will increase.

The company's period expense rate in the third quarter was 8.2%, down 1 percentage point from the previous quarter and nearly 2 percentage points from the same period last year. This was mainly due to the company's repayment of a large amount of borrowings in the third quarter, which resulted in the company's current financial expense rate falling significantly by 1.1 percentage points from the previous quarter.