Group 1 - The core viewpoint of the news is that 中航机载 (AVIC Aircraft) experienced a 5% increase in stock price, reaching 15.74 CNY per share, with a trading volume of 1 billion CNY and a market capitalization of 76.164 billion CNY [1] - 中航机载 is primarily engaged in the research, production, sales, and service of mechanical electronics, aviation electronics, automatic control, and inertial navigation in the fields of aviation, aerospace, naval vessels, and weaponry [1] - The revenue composition of 中航机载 includes 81.75% from aviation products, 14.59% from modern industries and others, and 3.66% from non-aviation defense products [1] Group 2 - 华泰柏瑞基金's fund, 华泰柏瑞沪深300ETF, reduced its holdings in 中航机载 by 1.9286 million shares, now holding 41.2569 million shares, which represents 0.85% of the circulating shares [2] - The estimated floating profit from the current holdings in 中航机载 is approximately 30.9427 million CNY [2] - 华泰柏瑞沪深300ETF has a total asset size of 422.258 billion CNY, with a year-to-date loss of 0.43% and a one-year return of 23.77% [2] Group 3 - The fund manager of 华泰柏瑞沪深300ETF is 柳军, who has a total tenure of 16 years and 249 days, with the fund's best return during his tenure being 225.42% [3] - The current total asset size managed by 柳军 is 550.928 billion CNY [3] Group 4 - Another fund, 航空航天, holds 599,100 shares of 中航机载, accounting for 4.72% of the fund's net value, making it the seventh-largest holding [4] - The estimated floating profit from 航空航天's holdings in 中航机载 is approximately 449,300 CNY [4] - 航空航天 has a total asset size of 1.7 billion CNY, with a year-to-date return of 4.04% [4]

Group 1 - The core announcement is that AVIC Aircraft has repurchased a total of 16,018,100 shares through centralized bidding, which represents 0.33% of the company's total share capital as of January 31, 2026 [2]

Group 1 - The company AVIC Aircraft announced on February 2 that as of January 31, 2026, it has repurchased approximately 16.02 million shares through centralized bidding, representing 0.33% of the company's total share capital [1] - The highest repurchase price was RMB 13.56 per share, while the lowest was RMB 11.7 per share, with a total expenditure of approximately RMB 200 million [1] Group 2 - The automotive sales giant Baolide, known for selling luxury cars such as Rolls-Royce and Porsche, is now undergoing bankruptcy liquidation, with its headquarters in Hangzhou reportedly vacant and its subsidiary in Yiwu sealed [1]

格隆汇2月2日丨中航机载(600372.SH)公布，截至2026年1月31日，公司通过集中竞价方式累计回购股份 数量为16,018,100股，已回购股份占公司总股本的比例为0.33%，回购的最高价为人民币13.56元/股，回 购的最低价为人民币11.70元/股，累计支付的总金额为人民币199,890,972.10元（不含交易费用）。 ...

Group 1 - The company, AVIC Aircraft (600372.SH), announced that as of January 31, 2026, it has repurchased a total of 16,018,100 shares through centralized bidding, which represents 0.33% of the company's total share capital [1] - The highest repurchase price was RMB 13.56 per share, while the lowest price was RMB 11.70 per share [1] - The total amount paid for the repurchased shares was RMB 199,890,972.10, excluding transaction fees [1]

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： | 回购方案首次披露日 | 2025/4/19，由董事长提议 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2025 年 4 4 20 日 | 月 | 21 | 日~2026 | 年 | 月 | | 预计回购金额 | 30,000.00万元（含）~50,000.00万元（含） | | | | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 □用于转换公司可转债 | | | | | | | | □为维护公司价值及股东权益 | | | | | | | 累计已回购股数 | 1,601.81万股 | | | | | | | 累计已回购股数占总股本比例 | 0.33% | | | | | | | 累计已回购金额 | 19,989.0972万元 | | | | | | | 实际回购价格区间 | 11.70元/股~13.56元/股 | | | | | | 一、 回 ...

Core Insights - The report emphasizes the growth potential in the commercial aerospace and large aircraft sectors, highlighting the importance of the defense and military industry in these areas [2][3] Group 1: Industry Overview - The Chinese aerospace sector is set to advance with initiatives like the "Tian Gong Kai Wu" plan, focusing on space tourism, smart infrastructure, and resource development [13] - The commercial aircraft and aerospace sectors are experiencing sustained high demand, with a focus on self-reliance in aviation engine development and the establishment of a strong aviation industry [14] Group 2: Investment Recommendations - The report identifies three key investment themes based on the "S-curve" evolution: 1. Supply chain reform and maintenance growth, recommending companies like AVIC Power and AVIC Control [15] 2. Expansion into overseas markets and civilian applications, recommending companies such as Guorui Technology and China Power [15] 3. New emerging industries like commercial aerospace and AI, recommending companies like Ruichuang Micro-Nano and Feilihua [15] Group 3: Company Analysis - AVIC Power is positioned as a core supplier in the aviation sector, benefiting from high-end aircraft production and potential market share growth in the civil aviation engine sector [21] - AVIC Heavy Machinery is expected to see revenue growth due to its comprehensive product offerings in aviation and engine sectors, with a focus on high-value components [23] - Guorui Technology is leveraging its radar business and low-altitude safety solutions, with projected revenue growth driven by defense modernization and low-altitude economic development [20] - Feilihua is a leading supplier of quartz materials for aerospace and semiconductor industries, benefiting from ongoing demand in both sectors [19] - Ziguang Guowei is focusing on the IC industry, with significant growth expected in the AI and communication sectors, emphasizing its competitive advantages in domestic and international markets [18]

Investment Rating - The report maintains a "Positive" outlook on the defense and military industry [4]. Core Insights - The report emphasizes the acceleration of the large aircraft sector and commercial aerospace, driven by the strategic goals set by the Aviation Industry Corporation of China (AVIC) during its 2026 work conference [9][12]. - The competition for low Earth orbit satellite resources is intensifying, with countries like Germany and Japan advancing their satellite communication systems, which is expected to boost China's satellite networking progress [15][16]. - The "14th Five-Year Plan" is set to enhance military equipment construction, highlighting the potential for growth in both domestic and international military markets, particularly in unmanned systems and commercial aerospace [16]. Summary by Sections 1.1 AVIC's 2026 Work Conference - The conference outlined three strategic tasks: accelerating the independent development of aviation engines, achieving high-level technological self-reliance, and building a strong aviation nation [12]. - The focus is on developing five pillar industries: commercial power, general aviation power, civil gas turbines, system onboard, and advanced materials manufacturing services [12][14]. 1.2 Competition in Space Resources - Germany is deploying a domestic "Starlink" system to ensure national security and communication sovereignty, with potential contracts worth billions of euros [15]. - The report notes that China's satellite internet development is entering a rapid networking phase, with over 100 satellites already in orbit [15][16]. 1.3 Continued Optimism for Various Sectors - The report highlights the importance of the military sector's internal and external demand, focusing on new combat capabilities and the expansion of military trade markets [16]. - Key investment targets include companies involved in large aircraft, commercial aerospace, and military electronics, with specific recommendations for stocks such as AVIC Power (600893), AVIC Aircraft (600372), and Aerospace Electronics (600879) [16].

Group 1 - The company emphasizes the importance of market capitalization management and is actively working to enhance its performance in the capital market [1] - Strategies employed by the company include improving operational performance, share buybacks, profit distribution, and investor relations management [1]

Group 1 - The core viewpoint of the article is that the company, AVIC (Aviation Industry Corporation of China), is involved in the reusable rocket project through its subsidiaries, providing supporting services [2] Group 2 - The company responded to investor inquiries on its interactive platform regarding its involvement in the reusable rocket project [2] - The announcement indicates a strategic focus on aerospace technology and innovation within the company [2] - This involvement may position the company favorably in the growing space industry, which is increasingly focusing on sustainability and cost-effectiveness [2]