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600760.SH · A-shares

600760.SH AVIC SAC: listed fighter OEM

AVIC Shenyang Aircraft Core listed fighter OEM; quarterly prints swing with recognition — theme trading often leads filings.

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Snapshot

Price (~)
CNY 48.26
Market cap (~)
CNY 136.8B
Revenue (latest FY/cum)
CNY 44.7B
Latest NI (attr.)
CNY 473.1M
As of 2026-09-25

As-of 2026-09-25 (weekly refresh; equities aligned to §A. Missing series are N/A/null. Not investment advice.)

Thesis

AVIC Shenyang Aircraft Core listed fighter OEM; quarterly prints swing with recognition — theme trading often leads filings. Price ~¥48.26, mkt ~¥1368B; PE-TTM 144.6x.

Business

Model: combat aircraft OEM + some civil. Flagships: fighters. Edge: OEM seat. Strategy: serial production.

Value chain

OEM mid-stack; upstream engines/avionics; PLA customer. Risks: budget; suppliers; disclosure.

Corporate events

Events

Events
DateEventDetailNote
持续主机厂平台沈飞资产证券化平台核心军工标的
As of 2026-09-25

Valuation

OEM PE/PB vs order expectations; sentiment fills reporting gaps.

Valuation snapshot

Valuation snapshot
MetricValueNote
现价48.26东方财富行情
总市值1368.14 亿f116
PE-TTM144.6x亏损则为 null
PB5.85x行情字段
As of 2026-09-25

Valuation · ~3y QE

Interactive chart available in the reader.

QE close×shares/TTM NI; div yield null without source · As of 2026-09-25

Price · ~3y QE

Interactive chart available in the reader.

Eastmoney monthly K aligned to quarter-end · As of 2026-09-25

Financial trends (~24m)

Single-quarter revenue/NI from Eastmoney cumulative filings via differencing; gross margin is reported period GM. Null when missing.

Quarterly revenue · 8Q

Interactive chart available in the reader.

Eastmoney cumulative revenue differenced; null when missing · As of 2026-09-25

Gross margin · reported

Interactive chart available in the reader.

Eastmoney reported GM (period) · As of 2026-09-25

Quarterly NI · 8Q

Interactive chart available in the reader.

Eastmoney cumulative NI differenced; PE null if TTM≤0 · As of 2026-09-25

Financial health

Financial health
ItemValueNote
经营现金流（约，每股×股本）5.72 亿MGJYXJJE×股本估算，非审计
资产负债率63.1%最新报告期
ROE（加权）1.99%报告期
审计/持续经营以最新年报审计意见为准未在本包重审
As of 2026-09-25

Operations

Volume: output; price: defense ASP; cost: outsourcing/labor.

Operating snapshot

Operating snapshot
ItemValueYoY/noteNote
最新报告期2026-Q2—东方财富 MAINFINADATA
单季营收35.79 亿见收入图 YoY累计拆单季
单季归母净利3.08 亿见利润图累计拆单季
毛利率（报告期披露）10.6%—销售毛利率字段
赛道航空装备—申万国防军工二级语境
As of 2026-09-25

Competition

Defense market share is usually undisclosed; share charts use nulls.

Market share

Interactive chart available in the reader.

Usually undisclosed for defense — nulls · As of 2026-09-25

Peer share

Interactive chart available in the reader.

Null without named source · As of 2026-09-25

Peers

Peers
NameRoleNoteStrengthWeakness
中航沈飞歼击机核心谱系波动
中航成飞歼击机核心注入后体量可比性
中直股份直升机中旋翼弹性低
As of 2026-09-25

Management

Management / control

Management / control
RoleNameSince24m change
控股股东航空工业集团持续央企
经营层以最新年报披露为准持续—
As of 2026-09-25

Stability: AVIC-controlled; management per annual report.

Outlook

Watch recognition, GM, contract liabilities, OCF.

Scenarios

Scenario Condition Implication
Bull Orders/deliveries beat Earnings + multiple
Base Steady production Hold/watch recognition
Bear Destock/budget slip Theme + earnings drawdown

Risks

Order timing; earnings volatility; multiple compression; opacity.

Tracking

  1. Quarterly revenue/NI YoY and contract liabilities
  2. Gross margin, inventory, receivables
  3. OCF vs CapEx
  4. Material reorg/program disclosures
  5. Defense index relative performance / crowding

References

  1. CNINFO — https://www.cninfo.com.cn/new/disclosure/stock?stockCode=600760
  2. Eastmoney quotes & MAINFINADATA
  3. Other: IR

Not investment advice.

Disclaimer: For research information only. Not investment advice or a recommendation to buy or sell.

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