【公司研究】安达维尔-业务间协同效应显著军品配套不断取得新突破-20200629[32页].pdf

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2、 3.04 2.52 2.23 1.93 (%) 5.86% 7.47% 9.62% 11.60% 13.50% (%) 0.00% 0.00% 0.00% 0.00% 0.00% () 253 254 254 254 254 2020/6/24 6 14.35 10.76 12 9.2315.35 2,736 254 A 254 B/H 0/0 2 -23% -14% -5% 4% 13% 22% 2019/62019/92019/122020/3 % 1M 3M 12M 4% 7% -12% -4% -7% -20% 300719 -20200531 -20200616 -20200518

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5、 25 282010-2019 . 26 293 . 27 1 . 5 2 . 7 6 . 14 7 . 17 8 . 19 9 . 20 10 . 22 11 . 27 12 . 28 4 / 32 1. 1.1. (Andawell)2001 2017 1 1.2. 2 5 / 32 3 1 30 6 / 32 AR 2015-20193.115.5212.16% 0.540.736.37% .2018 38.26%12 34 201924.02% 42015-2019 52015-2019 62015-2019 72015-2019 7 / 32 2. 2.1. PMA PMA LED

6、85%10% PMA 5% CTSOA A320/A330/B737 B737A320 LCD A320 2 8 / 32 PMA A320/A330 B737 B737A320 LCD A320 9 / 32 2015-2019 1.32.8717.24% 2019 82015-2019 92015-2019 54% 1 2 OEM PMA 50PMA 10 / 32 80%95% 2.2. 20191326625% 41638%32106% 1603903276366111 20 102019 112019 World Air Force 2020 World Air Force 2020