659 lines
34 KiB
HTML
659 lines
34 KiB
HTML
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<!DOCTYPE html>
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<html lang="zh-CN">
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<head>
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<meta charset="utf-8" />
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<meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
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<title>珠海航展概念分析</title>
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<!-- Tailwind CSS -->
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<style>
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body {
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font-family: 'Inter', sans-serif;
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background-color: #f8fafc;
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background: linear-gradient(135deg, #0ea5e9 0%, #1e40af 100%);
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box-shadow: 0 10px 15px -3px rgba(0, 0, 0, 0.1), 0 4px 6px -2px rgba(0, 0, 0, 0.05);
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@media (max-width: 768px) {
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.table-container {
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overflow-x: scroll;
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}
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}
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#particles-js {
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position: absolute;
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width: 100%;
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height: 100%;
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</style>
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</head>
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<body class="bg-gray-50">
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<div id="particles-js"></div>
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<div class="container mx-auto px-4 py-8 max-w-7xl">
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<!-- 标题部分 -->
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<div class="text-center mb-12">
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<h1 class="text-4xl md:text-5xl font-bold text-gray-800 mb-4">珠海航展概念分析</h1>
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<p class="text-lg text-gray-600 max-w-3xl mx-auto">军工"十四五"收官之战的冲锋号，低空经济从政策到订单的转折点</p>
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</div>
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<!-- 概念事件部分 -->
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<div class="bg-white rounded-xl card-shadow p-6 mb-8">
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<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
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<i class="fas fa-calendar-alt text-blue-500 mr-3"></i>概念事件
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</h2>
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<div class="mb-6">
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<h3 class="text-xl font-semibold text-gray-700 mb-4">背景与催化事件</h3>
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<div class="relative pl-6 mb-6">
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<div class="timeline-line"></div>
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<div class="relative mb-6">
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<div class="timeline-dot"></div>
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<div class="bg-blue-50 rounded-lg p-4 ml-4">
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<p class="font-semibold text-blue-700">2024年11月5日</p>
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<p class="text-gray-700">空军宣布歼-35A将首次亮相，引爆军工板块（中航沈飞连续2日涨停）</p>
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</div>
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</div>
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<div class="relative mb-6">
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<div class="timeline-dot"></div>
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<div class="bg-blue-50 rounded-lg p-4 ml-4">
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<p class="font-semibold text-blue-700">11月12-17日</p>
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<p class="text-gray-700">第十五届珠海航展举办，签约金额超<strong>2800亿人民币</strong>（剔除商飞后同比增长162%），创历史新高</p>
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</div>
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</div>
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<div class="relative mb-6">
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<div class="timeline-dot"></div>
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<div class="bg-blue-50 rounded-lg p-4 ml-4">
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<p class="font-semibold text-blue-700">11月11日</p>
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<p class="text-gray-700">国务院发布《军队装备保障条例》，优化"供、管、修"流程，为"十四五"收官冲刺</p>
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</div>
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</div>
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<div class="relative">
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<div class="timeline-dot"></div>
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<div class="bg-blue-50 rounded-lg p-4 ml-4">
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<p class="font-semibold text-blue-700">11月10日</p>
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<p class="text-gray-700">粤港澳大湾区低空经济大会召开，珠海设立<strong>100亿低空经济基金</strong>（首期15亿）</p>
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</div>
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</div>
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</div>
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<div class="bg-gray-50 rounded-lg p-4">
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<h4 class="font-semibold text-gray-700 mb-2">核心展示</h4>
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<p class="text-gray-700">歼-35A（第二款隐身战机）、红旗-19（反导系统）、彩虹-7隐身无人机、小鹏汇天"陆地航母"（3000台订单）、沙特等中东国家"扫货"中国装备</p>
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</div>
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</div>
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</div>
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<!-- 核心观点摘要部分 -->
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<div class="bg-white rounded-xl card-shadow p-6 mb-8">
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<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
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<i class="fas fa-lightbulb text-yellow-500 mr-3"></i>核心观点摘要
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</h2>
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<div class="grid grid-cols-1 md:grid-cols-2 gap-6">
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<div class="bg-blue-50 rounded-lg p-5">
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<h3 class="text-lg font-semibold text-blue-700 mb-3">阶段判断</h3>
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<p class="text-gray-700">珠海航展已从"主题炒作"进入"订单兑现+技术验证"阶段，军工板块由"弱复苏"转向"强复苏"拐点（12月装备合同签订预期）</p>
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</div>
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<div class="bg-green-50 rounded-lg p-5">
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<h3 class="text-lg font-semibold text-green-700 mb-3">核心驱动力</h3>
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<p class="text-gray-700">军贸爆发（中东千亿市场替代俄罗斯缺口）+ 低空经济政策落地（6城试点+百亿基金）+ 装备迭代（歼-35A/红旗-19定型批产）</p>
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</div>
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</div>
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</div>
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<!-- 核心逻辑与市场认知分析部分 -->
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<div class="bg-white rounded-xl card-shadow p-6 mb-8">
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<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
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<i class="fas fa-chart-line text-green-500 mr-3"></i>核心逻辑与市场认知分析
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</h2>
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<div class="mb-8">
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<h3 class="text-xl font-semibold text-gray-700 mb-4">核心驱动力</h3>
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<div class="overflow-x-auto">
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<table class="min-w-full bg-white border border-gray-200 rounded-lg">
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<thead>
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<tr class="bg-gray-100">
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<th class="py-3 px-4 text-left font-semibold text-gray-700 border-b">维度</th>
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<th class="py-3 px-4 text-left font-semibold text-gray-700 border-b">逻辑</th>
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<th class="py-3 px-4 text-left font-semibold text-gray-700 border-b">数据支撑</th>
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</tr>
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</thead>
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<tbody>
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<tr>
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<td class="py-3 px-4 border-b font-medium text-gray-700">军贸</td>
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<td class="py-3 px-4 border-b text-gray-600">俄乌战争暴露俄装备短板，中国无人机/导弹性价比优势显著</td>
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<td class="py-3 px-4 border-b text-gray-600">2024年航展沙特签约数十亿美元，中国军贸市占率从5.8%向20%提升空间</td>
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</tr>
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<tr>
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<td class="py-3 px-4 border-b font-medium text-gray-700">内需</td>
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<td class="py-3 px-4 border-b text-gray-600">2027建军百年目标+反腐后军费使用效率提升</td>
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<td class="py-3 px-4 border-b text-gray-600">2025年军费或达<strong>1.7万亿</strong>（占GDP1.5%），航发集团获<strong>1500台发动机</strong>订单</td>
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</tr>
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<tr>
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<td class="py-3 px-4 font-medium text-gray-700">技术</td>
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<td class="py-3 px-4 text-gray-600">歼-35A/红旗-19定型标志装备代际突破，低空经济eVTOL商业化加速</td>
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<td class="py-3 px-4 text-gray-600">小鹏汇天"陆地航母"单价<strong>200万</strong>（已签3000台），沃飞AE200获工银百架订单</td>
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</tr>
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</tbody>
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</table>
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</div>
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</div>
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<div>
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<h3 class="text-xl font-semibold text-gray-700 mb-4">市场认知偏差</h3>
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<div class="grid grid-cols-1 md:grid-cols-2 gap-4">
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<div class="bg-yellow-50 rounded-lg p-4 border-l-4 border-yellow-400">
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<h4 class="font-semibold text-yellow-700 mb-2">预期差1</h4>
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<p class="text-gray-700">市场聚焦歼-35A，但<strong>红旗-19反导系统</strong>价值量更高（对标萨德，单套系统价值<strong>10-18亿美元</strong>）</p>
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</div>
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<div class="bg-yellow-50 rounded-lg p-4 border-l-4 border-yellow-400">
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<h4 class="font-semibold text-yellow-700 mb-2">预期差2</h4>
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<p class="text-gray-700">低空经济被视作"概念"，但山东高速已规划<strong>2.2万架eVTOL采购</strong>（干线2000架+支线2万架），订单规模超预期</p>
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</div>
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</div>
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</div>
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</div>
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<!-- 关联股票数据表格 -->
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<div class="bg-white rounded-xl card-shadow p-6 mb-8">
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<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
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<i class="fas fa-table text-purple-500 mr-3"></i>关联股票数据
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</h2>
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<div class="table-container">
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<table class="min-w-full bg-white border border-gray-200 rounded-lg">
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<thead>
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<tr class="bg-gray-100">
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<th class="py-3 px-4 text-left font-semibold text-gray-700 border-b">股票名称</th>
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<th class="py-3 px-4 text-left font-semibold text-gray-700 border-b">项目</th>
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<th class="py-3 px-4 text-left font-semibold text-gray-700 border-b">行业</th>
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<th class="py-3 px-4 text-left font-semibold text-gray-700 border-b">产业链</th>
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<th class="py-3 px-4 text-left font-semibold text-gray-700 border-b">关联原因</th>
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</tr>
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</thead>
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<tbody>
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<tr>
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<td class="py-3 px-4 border-b text-gray-700 font-medium">中航沈飞</td>
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<td class="py-3 px-4 border-b text-gray-600">第五代隐身战斗机歼-35</td>
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<td class="py-3 px-4 border-b text-gray-600">航空制造</td>
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<td class="py-3 px-4 border-b text-gray-600">军机研发制造</td>
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<td class="py-3 px-4 border-b text-gray-600">珠海航展重点展示机型歼-35的主承制单位</td>
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</tr>
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<tr class="bg-gray-50">
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<td class="py-3 px-4 border-b text-gray-700 font-medium">中航电测</td>
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<td class="py-3 px-4 border-b text-gray-600">第五代隐身战斗机歼-20</td>
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<td class="py-3 px-4 border-b text-gray-600">航空电子</td>
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<td class="py-3 px-4 border-b text-gray-600">军机配套</td>
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<td class="py-3 px-4 border-b text-gray-600">参与歼-20战机配套系统研制</td>
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</tr>
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<tr>
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<td class="py-3 px-4 border-b text-gray-700 font-medium">中航西飞</td>
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<td class="py-3 px-4 border-b text-gray-600">运输机/轰炸机</td>
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<td class="py-3 px-4 border-b text-gray-600">航空制造</td>
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<td class="py-3 px-4 border-b text-gray-600">军机总装</td>
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<td class="py-3 px-4 border-b text-gray-600">国产大型运输机和轰炸机主制造商</td>
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</tr>
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<tr class="bg-gray-50">
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<td class="py-3 px-4 border-b text-gray-700 font-medium">中直股份</td>
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<td class="py-3 px-4 border-b text-gray-600">直升机/武直-20</td>
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<td class="py-3 px-4 border-b text-gray-600">航空制造</td>
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<td class="py-3 px-4 border-b text-gray-600">直升机总装</td>
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<td class="py-3 px-4 border-b text-gray-600">国产直升机系列化发展核心平台</td>
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</tr>
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<tr>
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<td class="py-3 px-4 border-b text-gray-700 font-medium">洪都航空</td>
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<td class="py-3 px-4 border-b text-gray-600">教练机/猎鹰L-15</td>
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<td class="py-3 px-4 border-b text-gray-600">航空制造</td>
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<td class="py-3 px-4 border-b text-gray-600">教练机研制</td>
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<td class="py-3 px-4 border-b text-gray-600">国产高级教练机及攻击机研制基地</td>
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</tr>
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<tr class="bg-gray-50">
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<td class="py-3 px-4 border-b text-gray-700 font-medium">航天彩虹</td>
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<td class="py-3 px-4 border-b text-gray-600">彩虹无人机</td>
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<td class="py-3 px-4 border-b text-gray-600">无人机</td>
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<td class="py-3 px-4 border-b text-gray-600">无人机整机研制</td>
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<td class="py-3 px-4 border-b text-gray-600">国内无人机领域头部企业</td>
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</tr>
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<tr>
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<td class="py-3 px-4 border-b text-gray-700 font-medium">中无人机</td>
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<td class="py-3 px-4 border-b text-gray-600">翼龙无人机</td>
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<td class="py-3 px-4 border-b text-gray-600">无人机</td>
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<td class="py-3 px-4 border-b text-gray-600">无人机系统集成</td>
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<td class="py-3 px-4 border-b text-gray-600">翼龙系列无人机总装单位</td>
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</tr>
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<tr class="bg-gray-50">
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<td class="py-3 px-4 border-b text-gray-700 font-medium">洪都航空</td>
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<td class="py-3 px-4 border-b text-gray-600">攻击-11无人机</td>
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<td class="py-3 px-4 border-b text-gray-600">无人机</td>
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<td class="py-3 px-4 border-b text-gray-600">无人机制造</td>
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<td class="py-3 px-4 border-b text-gray-600">参与隐身无人机研制生产</td>
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</tr>
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<tr>
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<td class="py-3 px-4 border-b text-gray-700 font-medium">航天电子</td>
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<td class="py-3 px-4 border-b text-gray-600">飞鸿无人机</td>
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<td class="py-3 px-4 border-b text-gray-600">无人机</td>
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<td class="py-3 px-4 border-b text-gray-600">无人机配套</td>
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<td class="py-3 px-4 border-b text-gray-600">无人机飞控系统核心供应商</td>
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</tr>
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<tr class="bg-gray-50">
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<td class="py-3 px-4 border-b text-gray-700 font-medium">中兵红箭</td>
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<td class="py-3 px-4 border-b text-gray-600">反坦克导弹</td>
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<td class="py-3 px-4 border-b text-gray-600">军工</td>
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<td class="py-3 px-4 border-b text-gray-600">武器装备</td>
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<td class="py-3 px-4 border-b text-gray-600">国内重要导弹武器系统研制单位</td>
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</tr>
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<tr>
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<td class="py-3 px-4 border-b text-gray-700 font-medium">高德红外</td>
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<td class="py-3 px-4 border-b text-gray-600">红外探测系统</td>
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<td class="py-3 px-4 border-b text-gray-600">军工电子</td>
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<td class="py-3 px-4 border-b text-gray-600">光电系统</td>
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<td class="py-3 px-4 border-b text-gray-600">红外热像仪及光电系统供应商</td>
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</tr>
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<tr class="bg-gray-50">
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<td class="py-3 px-4 border-b text-gray-700 font-medium">联创光电</td>
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<td class="py-3 px-4 border-b text-gray-600">激光武器</td>
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<td class="py-3 px-4 border-b text-gray-600">军工电子</td>
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<td class="py-3 px-4 border-b text-gray-600">激光技术</td>
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<td class="py-3 px-4 border-b text-gray-600">参与激光武器相关技术研发</td>
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</tr>
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<tr>
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<td class="py-3 px-4 border-b text-gray-700 font-medium">航发动力</td>
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<td class="py-3 px-4 border-b text-gray-600">航空发动机</td>
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<td class="py-3 px-4 border-b text-gray-600">航空发动机</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">动力系统</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">国产航空发动机核心研制单位</td>
|
||
</tr>
|
||
<tr class="bg-gray-50">
|
||
<td class="py-3 px-4 border-b text-gray-700 font-medium">航天动力</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">液体火箭发动机</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">航天动力</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">航天推进系统</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">航天液体动力技术龙头企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 border-b text-gray-700 font-medium">航天科技</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">卫星导航</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">航天科技</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">卫星应用</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">北斗卫星导航系统重要参与单位</td>
|
||
</tr>
|
||
<tr class="bg-gray-50">
|
||
<td class="py-3 px-4 border-b text-gray-700 font-medium">赛微电子</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">MEMS传感器</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">半导体</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">导航芯片</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">导航系统核心传感器供应商</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 border-b text-gray-700 font-medium">晨曦航空</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">航空电子系统</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">航空电子</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">飞控系统</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">航空惯性导航及飞控系统研制单位</td>
|
||
</tr>
|
||
<tr class="bg-gray-50">
|
||
<td class="py-3 px-4 border-b text-gray-700 font-medium">北方导航</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">导航控制系统</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">军工电子</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">制导系统</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">导弹武器系统导航制导核心供应商</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 border-b text-gray-700 font-medium">航新科技</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">航空维修</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">航空服务</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">MRO</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">军民用航空器维修保障服务商</td>
|
||
</tr>
|
||
<tr class="bg-gray-50">
|
||
<td class="py-3 px-4 border-b text-gray-700 font-medium">中航机载</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">机载设备</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">航空制造</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">机载系统</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">航空机载设备系统集成商</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 border-b text-gray-700 font-medium">广联航空</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">航空工装</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">航空制造</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">航空制造服务</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">航空复合材料工装及部段供应商</td>
|
||
</tr>
|
||
<tr class="bg-gray-50">
|
||
<td class="py-3 px-4 border-b text-gray-700 font-medium">盟升电子</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">卫星通信</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">军工电子</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">卫星导航</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">卫星导航和通信终端设备研制</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 border-b text-gray-700 font-medium">国博电子</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">微波器件</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">半导体</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">射频芯片</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">军用射频微波器件核心供应商</td>
|
||
</tr>
|
||
<tr class="bg-gray-50">
|
||
<td class="py-3 px-4 border-b text-gray-700 font-medium">亚光科技</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">微波电路</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">军工电子</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">雷达系统</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">雷达及微波组件重要供应商</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 border-b text-gray-700 font-medium">中国船舶</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">舰船配套</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">船舶制造</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">军工配套</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">军工船舶及配套设备研制单位</td>
|
||
</tr>
|
||
<tr class="bg-gray-50">
|
||
<td class="py-3 px-4 border-b text-gray-700 font-medium">华金资本</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">军工投资</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">投资控股</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">资本运作</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">参与军工项目投资与孵化</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 border-b text-gray-700 font-medium">泰豪科技</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">军工电源</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">电气设备</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">军工配套</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">军工电力设备及电源系统供应商</td>
|
||
</tr>
|
||
<tr class="bg-gray-50">
|
||
<td class="py-3 px-4 border-b text-gray-700 font-medium">海能达</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">专网通信</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">通信设备</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">应急通信</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">军用专网通信设备供应商</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 border-b text-gray-700 font-medium">云鼎科技</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">北斗应用</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">信息技术</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">卫星导航</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">北斗高精度定位应用服务商</td>
|
||
</tr>
|
||
<tr class="bg-gray-50">
|
||
<td class="py-3 px-4 border-b text-gray-700 font-medium">山河智能</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">工程机械</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">装备制造</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">军工配套</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">参与军工装备配套设备研制</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 关键催化剂与未来发展路径部分 -->
|
||
<div class="bg-white rounded-xl card-shadow p-6 mb-8">
|
||
<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
|
||
<i class="fas fa-rocket text-red-500 mr-3"></i>关键催化剂与未来发展路径
|
||
</h2>
|
||
|
||
<div class="grid grid-cols-1 md:grid-cols-2 gap-6 mb-8">
|
||
<div class="bg-red-50 rounded-lg p-5">
|
||
<h3 class="text-lg font-semibold text-red-700 mb-4">近期催化剂（3-6个月）</h3>
|
||
<ol class="list-decimal pl-5 space-y-2">
|
||
<li class="text-gray-700"><strong>12月军品合同签订</strong>：反腐后首批大额订单落地，主机厂（沈飞/洪都）利润率修复</li>
|
||
<li class="text-gray-700"><strong>低空经济政策</strong>：深圳/合肥试点细则出台，eVTOL适航认证加速（亿航EH216-S已获三证）</li>
|
||
<li class="text-gray-700"><strong>军贸大单</strong>：沙特/阿联酋歼-35A出口协议（潜在<strong>50架</strong>订单，单价<strong>1亿美元</strong>）</li>
|
||
</ol>
|
||
</div>
|
||
|
||
<div class="bg-indigo-50 rounded-lg p-5">
|
||
<h3 class="text-lg font-semibold text-indigo-700 mb-4">长期路径（2025-2027）</h3>
|
||
<ul class="space-y-2">
|
||
<li class="text-gray-700"><strong>军工</strong>：歼-35A列装+军贸双轮驱动，中航沈飞市值向<strong>2000亿</strong>（当前1600亿）迈进</li>
|
||
<li class="text-gray-700"><strong>低空经济</strong>：2025年市场规模<strong>5000亿</strong>，万丰奥威（钻石飞机）、宗申动力（航空活塞发动机）受益</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 产业链与核心公司深度剖析部分 -->
|
||
<div class="bg-white rounded-xl card-shadow p-6 mb-8">
|
||
<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
|
||
<i class="fas fa-project-diagram text-teal-500 mr-3"></i>产业链与核心公司深度剖析
|
||
</h2>
|
||
|
||
<div class="mb-8">
|
||
<h3 class="text-xl font-semibold text-gray-700 mb-4">产业链图谱</h3>
|
||
<div class="bg-gray-50 rounded-lg p-6">
|
||
<div class="flex flex-col md:flex-row justify-between items-center">
|
||
<div class="bg-blue-100 rounded-lg p-4 mb-4 md:mb-0 md:mr-4 text-center w-full md:w-1/4">
|
||
<h4 class="font-semibold text-blue-700 mb-2">上游材料</h4>
|
||
<p class="text-sm text-gray-600">菲利华-导弹材料</p>
|
||
<p class="text-sm text-gray-600">光威复材-碳纤维</p>
|
||
</div>
|
||
|
||
<div class="flex items-center justify-center mb-4 md:mb-0">
|
||
<i class="fas fa-arrow-right text-blue-500 text-2xl"></i>
|
||
</div>
|
||
|
||
<div class="bg-green-100 rounded-lg p-4 mb-4 md:mb-0 md:mx-4 text-center w-full md:w-1/4">
|
||
<h4 class="font-semibold text-green-700 mb-2">中游制造</h4>
|
||
<p class="text-sm text-gray-600">中航沈飞-歼35A</p>
|
||
<p class="text-sm text-gray-600">航天彩虹-无人机</p>
|
||
<p class="text-sm text-gray-600">小鹏汇天-eVTOL</p>
|
||
</div>
|
||
|
||
<div class="flex items-center justify-center mb-4 md:mb-0">
|
||
<i class="fas fa-arrow-right text-green-500 text-2xl"></i>
|
||
</div>
|
||
|
||
<div class="bg-purple-100 rounded-lg p-4 md:ml-4 text-center w-full md:w-1/4">
|
||
<h4 class="font-semibold text-purple-700 mb-2">下游应用</h4>
|
||
<p class="text-sm text-gray-600">军贸-沙特/阿联酋</p>
|
||
<p class="text-sm text-gray-600">低空经济-物流/旅游</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-semibold text-gray-700 mb-4">核心公司对比</h3>
|
||
<div class="overflow-x-auto">
|
||
<table class="min-w-full bg-white border border-gray-200 rounded-lg">
|
||
<thead>
|
||
<tr class="bg-gray-100">
|
||
<th class="py-3 px-4 text-left font-semibold text-gray-700 border-b">公司</th>
|
||
<th class="py-3 px-4 text-left font-semibold text-gray-700 border-b">业务逻辑</th>
|
||
<th class="py-3 px-4 text-left font-semibold text-gray-700 border-b">验证数据</th>
|
||
<th class="py-3 px-4 text-left font-semibold text-gray-700 border-b">风险点</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr>
|
||
<td class="py-3 px-4 border-b font-medium text-gray-700">中航沈飞</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">歼-35A唯一总装，军贸弹性最大</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">航展后2日涨停，市值1600亿→2000亿</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">订单落地节奏</td>
|
||
</tr>
|
||
<tr class="bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-gray-700">航天彩虹</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">彩虹-7隐身无人机，中东订单爆发</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">沙特已购翼龙生产线</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">竞争加剧（中无人机）</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 border-b font-medium text-gray-700">万丰奥威</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">钻石eVTOL+通航飞机，低空经济龙头</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">与大众合作终止后自主加速</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">适航认证延迟</td>
|
||
</tr>
|
||
<tr class="bg-gray-50">
|
||
<td class="py-3 px-4 font-medium text-gray-700">宗申动力</td>
|
||
<td class="py-3 px-4 text-gray-600">航空活塞发动机，出口占比50%</td>
|
||
<td class="py-3 px-4 text-gray-600">泰国2025年商业飞行计划</td>
|
||
<td class="py-3 px-4 text-gray-600">混动技术迭代风险</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 潜在风险与挑战部分 -->
|
||
<div class="bg-white rounded-xl card-shadow p-6 mb-8">
|
||
<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
|
||
<i class="fas fa-exclamation-triangle text-orange-500 mr-3"></i>潜在风险与挑战
|
||
</h2>
|
||
|
||
<div class="overflow-x-auto">
|
||
<table class="min-w-full bg-white border border-gray-200 rounded-lg">
|
||
<thead>
|
||
<tr class="bg-gray-100">
|
||
<th class="py-3 px-4 text-left font-semibold text-gray-700 border-b">风险类型</th>
|
||
<th class="py-3 px-4 text-left font-semibold text-gray-700 border-b">具体表现</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr>
|
||
<td class="py-3 px-4 border-b font-medium text-gray-700">技术</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">歼-35A发动机WS-13可靠性待验证；eVTOL电池续航不足（当前<strong>200km</strong>）</td>
|
||
</tr>
|
||
<tr class="bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-gray-700">商业化</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">红旗-19反导系统单价过高（<strong>3亿美元/枚</strong>），穷国市场渗透率低</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 border-b font-medium text-gray-700">政策</td>
|
||
<td class="py-3 px-4 border-b text-gray-600">美国《涉军企业投资禁令》限制外资流入（QFII回避涉军股）</td>
|
||
</tr>
|
||
<tr class="bg-gray-50">
|
||
<td class="py-3 px-4 font-medium text-gray-700">信息矛盾</td>
|
||
<td class="py-3 px-4 text-gray-600">航展签约2800亿中<strong>96%为意向订单</strong>（中航工业268架意向），实际转化率待观察</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 综合结论与投资启示部分 -->
|
||
<div class="bg-gradient-to-r from-blue-600 to-indigo-700 rounded-xl card-shadow p-6 mb-8 text-white">
|
||
<h2 class="text-2xl font-bold mb-6 flex items-center">
|
||
<i class="fas fa-flag-checkered text-yellow-300 mr-3"></i>综合结论与投资启示
|
||
</h2>
|
||
|
||
<div class="mb-6">
|
||
<h3 class="text-xl font-semibold mb-3">阶段判断</h3>
|
||
<p class="text-blue-100">从"事件驱动"转向"订单+业绩驱动"，军工板块<strong>12月或迎强复苏拐点</strong></p>
|
||
</div>
|
||
|
||
<div class="mb-6">
|
||
<h3 class="text-xl font-semibold mb-3">投资方向</h3>
|
||
<ol class="list-decimal pl-5 space-y-2">
|
||
<li class="text-blue-100"><strong>军贸链</strong>：中航沈飞（歼-35A）、航天彩虹（无人机）、高德红外（反无人机激光）</li>
|
||
<li class="text-blue-100"><strong>低空经济</strong>：万丰奥威（整机）、宗申动力（发动机）、深城交（基建）</li>
|
||
</ol>
|
||
</div>
|
||
|
||
<div class="mb-6">
|
||
<h3 class="text-xl font-semibold mb-3">跟踪指标</h3>
|
||
<ul class="space-y-2">
|
||
<li class="text-blue-100"><strong>军工</strong>：12月军品合同负债增速（洪都航空Q3合同负债+700%）</li>
|
||
<li class="text-blue-100"><strong>低空经济</strong>：eVTOL适航证发放数量（亿航/沃飞进度）</li>
|
||
</ul>
|
||
</div>
|
||
|
||
<div class="bg-blue-800 bg-opacity-50 rounded-lg p-4 mt-6">
|
||
<p class="text-lg font-semibold text-center">珠海航展是军工"十四五"收官之战的冲锋号，也是低空经济从政策到订单的转折点，<strong>主机厂+军贸+低空基建</strong>是三大黄金赛道</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
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<script>
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tsParticles.load("particles-js", {
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value: 30,
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|
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``` |