Shanxi Securities research report points out that Avic Hi-Tech's net profit attributable to the parent company in 2024 is expected to be 1.153 billion yuan, an increase of 11.75% year-on-year; the net profit attributable to the parent company after deducting non-recurring gains and losses is expected to be 1.137 billion yuan, an increase of 13% year-on-year. The aviation new materials business continues to grow steadily, and the profitability from quality improvement and efficiency enhancement continues to rise. Aviation composite materials have entered a mature application period, and the market prospects for composite materials in civil aviation and low-altitude economy are broad. The market size for composite materials is expected to continue to expand in the future. As the only professional unit in China's aviation field engaged in the research and development engineering of composite materials, the company holds a leading position in the domestic field of composite material research and achievement transformation. In the future, the company will actively explore the civil aviation and low-altitude economy industries based on consolidating its leading position in military products, and is expected to continue benefiting from the strong recovery of commercial aviation and the vigorous development of the low-altitude economy. Maintain "Overweight-A" rating