Guide to this report: The company passed EN 9100:2009 supply chain certification, indicating that the subsidiary Chengdu Hangyu has obtained the necessary conditions to enter the civil aviation engine supply chain, and the small-batch supply process is expected to accelerate. Key points of investment: Maintain an increase in holdings rating. The company passed EN 9100:2009 supply chain certification, indicating that the company's military and civilian sector layout continues to advance, product yield improvements and process certification are being carried out simultaneously, and subsequent military and civilian production systems and product certification are expected to accelerate. Maintain the company's 2016-2018 EPS forecast of 0.09/0.39/0.58 yuan, and maintain the target price of 37.18 yuan. The EN9100 standard verifies the quality control capabilities of Chengdu's aerospace supply chain. AS/EN 9100 was released by SAE and is a necessary condition for becoming a supplier to companies including China Aviation Industry, GE, and Rollo. The company obtained EN9100 (Europe) certification and obtained the necessary qualifications to enter the supply chain of aero engine manufacturers. It is expected that subsequent AS/HB9100 (compatible with the US and China) and other quality system certifications will be carried out simultaneously. The release of rhenium-based monocrystalline blades in March dispelled the market's questions about the company's R&D capabilities. Similarly, we believe that the company obtained quality system certification to dispel the market's concerns about the quality control of the company's products. Obtaining certification is only the beginning, and the layout of the aviation industry chain is expected to continue to advance. Relying on the holding company Chengdu Aerospace and the participating company Zhongke Aviation Development, the company formed an industrial layout for high-temperature blades, aero engines, and drones. The Three Quarterly Report Company revealed that the first batch of blades has been delivered for use, military standards and international customer certifications are ongoing, the 750 kg thrust engine is being tested on a high platform, and the drone is scheduled to be tested by the end of 2016. Considering that rhenium-based superalloy blades have unique advantages in fourth-generation superalloy applications and the testing conditions in cooperation with SF Express to develop cargo drones, we believe that the company has gained a first-mover advantage in the aviation industry chain. Once the product is available, it is expected to lead to a significant increase in performance. Catalyst: Release of small orders. Risk Warning: Risk of certification failure.