On November 8, 2024, Aerospace Huanyu disclosed an investor research activity announcement, revealing that the company hosted a research session with 12 institutions, including Chuangfu Zhao Ye, Boyan Fund, Huirui Investment, Huaxing Securities, and Huayuan Securities, on November 6.
The announcement states that one representative from Aerospace Huanyu participated in the session: Board Secretary Li Jiaxiang. The event took place in the company's conference room.
Aerospace Huanyu's core business focuses on R&D and manufacturing in the aerospace sector, including space products, process equipment, aviation products, and satellite communication/measurement-control testing systems. The company provides technical solutions and product manufacturing services to research institutes and integrators. Initially specializing in space product development (e.g., satellite antennas, mechanisms, and structures), it has accumulated extensive experience and expanded into composite material molding process equipment design and manufacturing. In 2017, the company entered the aviation composites industry and developed satellite communication and measurement-control equipment capabilities based on its expertise in spaceborne microwave communication antennas. Its business segments operate independently yet synergistically, offering integrated R&D support.
During the interaction, the company highlighted its focus on satellite internet opportunities in 2024. As a core ground system supplier, it successfully developed the "Qianfan" constellation's 4.5-meter measurement-control antenna-servo-feed system and 1.8-meter power-feeding antenna-servo-feed system, achieving breakthrough satellite-ground link establishment. It also serves multiple clients in space product and satellite communication R&D, anticipating growing market demand.
The company plans to accelerate R&D and technological innovation to meet commercial aerospace needs for integrated communication, navigation, and remote sensing. Additionally, it is expanding into low-altitude economy and domestic aircraft sectors, with subsidiary Hunan Feiyu winning a C929 project bid (up to RMB 175 million) and developing C919 assembly line equipment. The company has also entered composite component manufacturing for major domestic aircraft manufacturers.
Future R&D Directions:
Composite Materials: Advance research on panel molding production lines and enhance capabilities for large civil aircraft engine nacelle components.
Communication Systems: Improve mobile measurement-control/data transmission antenna subsystems and develop cost-effective, large-aperture systems for commercial aerospace.
Key Investor Q&A Summary:
1. Satellite Communication and Commercial Aerospace Opportunities
The company capitalized on satellite internet trends in 2024, completing key ground system products for the "Qianfan" constellation and securing projects with clients like Shanghai Yuanxin. It aims to expand product portfolios to meet rising demand in integrated communication-navigation-remote sensing.
2. Low-Altitude Economy and Domestic Aircraft Development
Hunan Feiyu, a subsidiary, won a C929 composite tooling contract (≤RMB 175 million) and is developing C919 assembly line equipment. Relocated to a 36,000㎡ aviation industrial park with enhanced automation, the subsidiary supports domestic aircraft batch production. The company also undertakes composite component manufacturing for key aircraft parts (e.g., inlets, wings, engine nacelles) and C919 components.
3. Future R&D Focus
Composite Materials: Develop panel molding production lines and standardize technical processes, targeting large civil aircraft engine nacelle technologies.
Communication Systems: Enhance mobile antenna subsystems and introduce 12-meter aperture systems for commercial satellite tracking and high-speed data links.
