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000768.SZ · A-shares

000768.SZ AVIC XAC: transport/bomber airframe platform

AVIC Xi'an Aircraft XAC listed platform for large airframes (transport/bomber); civil/large-aircraft mix shapes elasticity.

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Snapshot

Price (~)
CNY 23.7
Market cap (~)
CNY 65.9B
Revenue (latest FY/cum)
CNY 41.0B
Latest NI (attr.)
CNY 489.7M
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 Xi'an Aircraft XAC listed platform for large airframes (transport/bomber); civil/large-aircraft mix shapes elasticity. Price ~¥23.70, mkt ~¥659B; PE-TTM 67.3x.

Business

Model: aircraft products. Flagships: military large airframes; civil parts. Edge: large airframe capability.

Value chain

Large airframe; upstream materials; downstream PLA/OEMs. Risks: programs; civil investment; supply chain.

Corporate events

Events

Events
DateEventDetailNote
持续西飞平台大型航空装备主机厂
As of 2026-09-25

Valuation

OEM valuation; watch recognition vs civil drag.

Valuation snapshot

Valuation snapshot
MetricValueNote
现价23.70东方财富行情
总市值659.00 亿f116
PE-TTM67.3x亏损则为 null
PB2.94x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）-6.39 亿MGJYXJJE×股本估算，非审计
资产负债率71.0%最新报告期
ROE（加权）2.61%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/price/cost as typical OEM.

Operating snapshot

Operating snapshot
ItemValueYoY/noteNote
最新报告期2026-Q2—东方财富 MAINFINADATA
单季营收71.84 亿见收入图 YoY累计拆单季
单季归母净利2.43 亿见利润图累计拆单季
毛利率（报告期披露）8.1%—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
中航西飞大型机体中运轰民机
中航沈飞歼击机高主战—
中航成飞歼击机高注入—
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.

Outlook

Watch defense revenue, civil spend, cash.

Scenarios

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

Risks

Orders; civil; valuation; disclosure.

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=000768
  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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