By Meia Nouwens

Aug 7, 2024

作者：梅亚•努文斯

2024年8月7日

 

A Chinese drone is displayed at the NORINCO stand during the 2023 Dubai Airshow. (Karim Sahib/AFP via Getty)

2023年迪拜航展期间，一架中国无人机在中国北方工业公司展台上展出。（卡里姆·萨希卜/法新社盖蒂报道）

 

The seven Chinese state-owned enterprises included in the Defense News Top 100 saw mixed results in 2023. The two largest companies performed well, with double-digit growth in their defense-related revenues between 2022 and 2023. Two other companies maintained steady revenue growth; however, of the remaining three, two in the ground and aerospace sector saw declining profits and another failed to report results at all.

《国防新闻》百强中的七家中国国有企业在2023年的业绩喜忧参半。两家最大的公司表现良好，2022年至2023年间，其国防相关收入实现了两位数增长。另外两家公司保持了稳定的收入增长；然而，在剩下的三家公司中，有两家在地面和航空航天领域的公司利润下降，另一家根本没有公布业绩。

 

Overall, companies sought to deepen their innovation investments, and some benefited from stronger civilian sector market demand as well as continued People’s Liberation Army modernization developments.

总体而言，企业寻求深化创新投资，一些企业受益于民用部门更强劲的市场需求以及中国人民解放军持续的现代化发展。

 

AVIC

中国航空工业集团有限公司

 

Between 2022 and 2023, AVIC’s defense production-related revenue increased by 52.6% (45% in U.S. dollars, given the weaker yuan). Though the company ranks first in defense-related profitability from all Chinese defense-related, state-owned enterprises (SOEs) for the fifth year in a row, it also ranks second in this year’s Top 100 company ranking, coming in behind Lockheed Martin.

2022年至2023年，中国航空工业集团有限公司的国防生产相关收入增长了52.6%（考虑到人民币走弱，以美元计算增长了45%）。尽管该公司连续第五年在所有中国国防相关国有企业中排名第一，但在今年的百强企业排名中排名第二，仅次于洛克希德·马丁公司。

 

The company’s strong growth in 2023 was attributed to its main subsidiaries — Chengdu Aircraft Industrial Group Co. Ltd., Xi’an Aircraft Industry Group Company Ltd. and Shenyang Aircraft Company Ltd. — having exceeded targets in their annual batch production and delivery missions.

该公司2023年的强劲增长归功于其主要子公司——成都飞机工业集团有限公司、西安飞机工业集团公司和沈阳飞机有限公司——在年度批量生产和交付任务中超额完成目标。

 

In addition to producing new technologies, the PLA continues to replace legacy aircraft, such as the J-7 fighter jets, with new ones. New production lines are also being implemented to improve production and quality.

除了生产新技术外，中国人民解放军还继续用新飞机取代传统飞机，如歼-7战斗机。新的生产线也在实施中，以提高产量和质量。

 

Visitors look at the Chinese military's J-16D electronic warfare airplane, September 2021. (Ng Han Guan/AP)

2021年9月，参观者参观了中国军方的J-16D电子战飞机。（吴汉观/美联社）

 

CSSC Group

中国船舶工业集团有限公司

 

Ranking second in this year’s list of Chinese SOEs, the China State Shipbuilding Corporation Ltd. Group’s defense-related revenue grew by 25.7% year-on-year (19% in U.S. dollars).

在今年中国国有企业排行榜上排名第二的中国船舶重工有限公司集团国防相关收入同比增长25.7%（以美元计增长19%）。

 

The group’s results have been the largest year-on-year growth since the merger of China’s two largest shipbuilding conglomerates in 2018, and reflect the continued strength of China’s shipbuilding sector within the global market. In particular, the company refers to growing demand for “green” ship orders in the civilian shipbuilding sector.

该集团的业绩是自2018年中国两大造船集团合并以来最大的同比增长，反映了中国造船业在全球市场上的持续实力。特别是，该公司提到民用造船行业对“绿色”船舶订单的需求不断增长。

 

In addition to strong demand, CSSC reports having benefited from “relatively friendly” global market improvements, such as ship and steel prices, as well as exchange rates.

除了强劲的需求外，CSSC报告称，还受益于“相对友好”的全球市场改善，如船舶和钢铁价格以及汇率。

 

At its 2024 annual company work conference in January, priorities for the company in 2024 were outlined as: focusing on the primary responsibility of military industry; strengthening and improving international competitiveness; increasing volume and improving quality; accelerating S&T self-reliance; and accelerating labor productivity of all employees, deepening the governance of loss-making enterprises and disposing of inefficient ones.

在1月份举行的2024年度公司工作会议上，公司2024年的优先事项概述为：专注于军工的主要责任；加强和提高国际竞争力；增加产量，提高质量；加快科技自力更生；提高全体员工的劳动生产率，深化对亏损企业的治理，淘汰低效企业。

 

NORINCO

中国北方工业有限公司

 

Though NORINCO still ranks third in the Chinese defense SOEs list and 9th in Defense News’ Top 100, the company’s year-on-year defense-related revenue dipped by 2.6% (8% in U.S. dollars).

尽管中国北方工业公司在中国国防国有企业名单中仍排名第三，在《防务新闻》的百强企业中排名第九，但该公司的国防相关收入同比下降了2.6%（按美元计算为8%）。

 

In 2023, the company acquired two Chinese subsidiaries linked to universities: Xi’an Jiaotong University Aisheng Group and Beijing Beihang University’s Tianyu Changying UAV Technology Co. Ltd.

2023年，该公司收购了两家与大学相关的中国子公司：西安交通大学安盛集团和北京北航天宇长鹰无人机科技有限公司。

 

Both companies specialize in unmanned aerial vehicle research and development, and NORINCO hopes they will in turn increase the company’s “new war industries” offering — in addition to its current supply — to the PLA’s ground forces.

这两家公司都专注于无人驾驶飞行器的研发，中国北方工业公司希望，除了目前的供应外，他们还将增加该公司向解放军地面部队提供的“新战争工业”产品。

 

For example, in 2023 the PLA deployed NORINCO’s PHL-16 Multiple Launch Rocket System in the 73rd Group Army of the Eastern Theatre Command.

例如，2023年，中国人民解放军在东部战区司令部第73集团军部署了北方工业公司的PHL-16多管火箭系统。

 

CSGC

中国兵器装备集团有限公司

 

Further in the land domain, China South Industries Group fared slightly better, with a 7.6% year-on-year growth (2% in U.S. dollars) result for its defense-related revenue.

在陆地领域，中国南方工业集团的表现略好，其国防相关收入同比增长7.6%（以美元计算为2%）。

 

The company reported a significant improvement in production quality following internal reforms focused on optimizing industrial layout and strengthening the military ecosystem, though no details were provided.

该公司报告称，在以优化产业布局和加强军事生态系统为重点的内部改革后，生产质量有了显著提高，但没有提供任何细节。

 

CSGC highlighted that its combat equipment in particular had a 100% pass rate for the first inspection of major products. A total of 208 institutes and its Jianshe Group have passed third-level maturity evaluations. The company’s growth was driven by its civilian automobile sector, particularly in electronic vehicles.

CSGC特别强调，其作战装备在主要产品的首次检验中合格率达到100%。共有208所机构及其建设集团通过了三级成熟度评估。该公司的增长是由其民用汽车行业推动的，特别是在电动汽车领域。

 

As noted by other defense-related SOEs, CSGC has invested heavily in innovation, including adding three new innovation centers. As a result, the company reports “breakthroughs” in more than 30 key technologies, including light alloy multi-field pressure casting systems and wire-controlled chassis.

正如其他国防相关国有企业所指出的那样，中国兵器装备集团有限公司在创新方面投入了大量资金，包括增加了三个新的创新中心。因此，该公司报告了30多项关键技术的“突破”，包括轻合金多场压力铸造系统和线控底盘。

 

In addition to developing its own R&D capabilities, CSGC has also partnered with other Chinese firms such as Huawei, Horizon Robotics and CATL.

除了发展自己的研发能力外，CSGC还与华为、北京地平线机器人技术研发有限公司和CATL等其他中国公司合作。

 

CETC

中国电子科技集团有限公司

 

CETC came in fourth in China’s defense-related SOE rankings for a third consecutive year, reporting 5.6% year-on-year growth (0% in U.S. dollars) despite being added to the U.S. Commerce Department’s Entity List for supporting China’s military modernization and PLA aerospace programs following the 2023 Chinese balloon incident in the United States.

中电科连续第三年在中国国防相关国有企业排名中排名第四，报告同比增长5.6%（以美元计为0%），尽管在2023年中国在美国发生气球事件后，中电科因支持中国军事现代化和解放军航空航天计划而被列入美国商务部的实体名单。

 

In order to withstand U.S. pressures, CETC absorbed state-owned digital services provider China Hualu Group — its second takeover in two and a half years.

为了承受美国的压力，中电科吸收了国有数字服务提供商中国华录集团有限公司，这是其两年半以来的第二次收购。

 

China’s state-owned Assets Supervision and Administration Commission has promoted the merging of SOEs in critical sectors in order to boost efficiency, competitiveness and innovation.

中国国有资产监督管理委员会推动关键行业的国有企业合并，以提高效率、竞争力和创新能力。

 

In CETC’s case, results have been mixed. Some of CETC’s other parent company subsidiaries noted small losses in the first three quarters of 2023, such as Chips Technology Inc. and the recently acquired Potevio Co. Ltd.

就中电科而言，结果喜忧参半。中电科其他母公司的一些子公司在2023年前三季度出现了小幅亏损，如芯片技术股份有限公司和最近收购的中国普天信息产业股份有限公司。

 

Others, however, such as CETC’s Cyberspace Security Technology Co. Ltd, which predominantly focuses on data security and cryptography technology, reported increases throughout the first three quarters of 2023.

然而，其他公司，如中电科的网络空间安全技术有限公司，主要专注于数据安全和密码技术，报告在2023年前三季度有所增长。

 

Overall competitiveness has reportedly been improved in recent years due to integration between industrial chains and a focus on R&D investment, though the latter has also come at a financial cost. The company spends roughly 11.8% of its profits on R&D investment, which is expected to grow in the future.

据报道，近年来，由于产业链之间的整合和对研发投资的关注，整体竞争力有所提高，尽管后者也带来了财务成本。该公司将约11.8%的利润用于研发投资，预计未来将继续增长。

 

Nevertheless, the company’s dominant position in providing military electronics — at a time when the PLA continues to focus on achieving informatization and intelligentization — means CETC’s revenue has further room to grow.

然而，在中国人民解放军继续致力于实现信息化和智能化之际，该公司在提供军事电子产品方面的主导地位意味着中电科的收入还有进一步增长的空间。

 

CASC & CASIC

中国航天科学技术集团公司和中国航天科学工业集团公司

 

China’s Aerospace Science and Technology Corporation (CASC) reported a surprising 77% year-on-year loss (79% in U.S. dollars) in 2023. The company’s defense-related revenue represented less than 5% of AVIC’s 2023 defense revenue. CASC ranked 52nd in this year’s Defense News Top 100, a drop of 37 places.

中国航天科学技术集团公司（CASC）报告称，2023年同比亏损77%（以美元计为79%），令人惊讶。该公司的国防相关收入占中航工业2023年国防收入的不到5%。CASC在今年的《国防新闻》100强中排名第52位，下降了37位。

 

The company reported that its business was affected by floods in North China, which resulted in asset losses, equipment and infrastructure maintenance requirements and other related expenses.

该公司报告称，其业务受到华北洪水的影响，导致资产损失、设备和基础设施维护要求以及其他相关费用。

 

Some contracts were delayed in delivery. And larger market factors, such as intensified market competition and rising production costs, also played a role.

一些合同延迟交付。而更大的市场因素，如市场竞争加剧和生产成本上升，也发挥了作用。

 

Elsewhere in the aerospace sector, CASIC has not yet published its annual report.

在航空航天领域的其他地方，中国航天科学工业集团公司尚未发布其年度报告。

 

Meia Nouwens is a senior analyst specializing on Chinese security and defense policy at the International Institute for Strategic Studies.

梅亚•努文斯(Meia Nouwens)是国际战略研究所专门研究中国安全和国防政策的高级分析师。