研報掘金丨東吳證券:中航沈飛業績符合市場預期,維持“買入”評級
東吳證券研報指出,中航沈飛(600760.SH)24年實現營業收入428.37億元,同比-7.37%;歸母淨利潤33.94億元,同比+12.86%。2024年公司在航空防務裝備領域取得多項關鍵技術突破。新型戰機結構件採用鈦合金3D打印技術實現輕量化設計,材料利用率提升40%;某型號戰機航電系統完成國產化替代升級,打破國外技術封鎖。民用航空業務方面,公司成功研發C919大型客機翼身整流罩新型複合材料工藝,產品減重15%同時滿足適航標準。在航空維修領域,建立國內首個基於數字孿生的戰機維修預測平台,故障診斷準確率提升至92%。此外,公司牽頭制定航空裝備數字化交付標準,推動產業鏈數據貫通。公司業績符合市場預期,考慮到公司業務仍處於調整期,但考慮到公司的產業鏈鏈長地位,因此維持“買入”評級。
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