Following Pakistan Air Force (PAF) great victory over Indian Air Force(IAF) in the recent conflict, shares of AVIC Chengdu Aircraft Co. Ltd, the Chinese defense manufacturer behind the JF-17 Thunder and J-10C fighter jets, surged over 20% on Monday, climbing 15.98 yen to close at 95.86 yen — a sharp rise from the previous close of 79.88 yen.
According to data from the Shenzhen Stock Exchange (SZSE), the company’s stock stood at 58.91 yen during morning trading on May 6. Compared with that level, the share price has surged by 20.97 yen as of 2:48 PM China Standard Time (CST). It also marks a gain of 15.98 yen from the previous session. The stock opened today at 78 yen.
The sharp rise follows widespread reports that two of India’s prized S-400 “Triumf” air defence systems were destroyed in recent cross-border hostilities. The systems were reportedly struck by CM-400AKG missiles launched from a JF-17 Thunder — a multirole combat aircraft jointly developed by Pakistan Aeronautical Complex (PAC) and China’s Chengdu Aircraft Corporation (CAC). This marks the first public confirmation of Pakistan’s possession of the long-speculated CM-400AKG missile system.
India’s S-400 systems, reportedly valued at around $1.5 billion, are considered among its most sophisticated defence assets.
The market response shows the growing international recognition of Chinese-made fighter aircraft, particularly in light of the Pakistan Air Force’s (PAF) high-profile military response against Indian aerial strikes.
Last week, the PAF reportedly downed Indian aircraft and drones, including Rafale jets, during retaliatory operations that followed an Indian Air Force (IAF) airstrike targeting six sites across Pakistan, including places of worship. These developments have significantly heightened tensions between the two nuclear-armed neighbours.
Following four days of intense military exchanges, both sides agreed to a “full and immediate ceasefire” on Saturday. The truce appears to have halted further escalation.
