Chinese Fighter Jet JF-17 Maker Chengdu Aircraft Shares Surge After PAF Victory Over IAF

Shares of Chinese defense manufacturer AVIC Chengdu Aircraft Co. Ltd jumped more than 20% on Monday, following Pakistan Air Force’s (PAF) success in its recent military conflict with the Indian Air Force (IAF).

According to the Shenzhen Stock Exchange (SZSE), the company’s stock rose 15.98 yen, closing at 95.86 yen, up from 79.88 yen in the previous session. Earlier in the morning, it had been trading at 58.91 yen, marking a total increase of 20.97 yen by 2:48 PM CST.

This sharp rise comes after media reports claimed that two Indian S-400 “Triumf” air defense systems, reportedly worth $1.5 billion, were destroyed in cross-border hostilities. The strikes were allegedly carried out using CM-400AKG missiles launched from JF-17 Thunder jets — jointly developed by Pakistan Aeronautical Complex (PAC) and China’s Chengdu Aircraft Corporation (CAC).

This incident marks the first confirmed use of the long-rumored CM-400AKG missile system by Pakistan, fueling speculation about the PAF’s enhanced capabilities. The S-400 is regarded as one of India’s most advanced defense systems, and its reported destruction sent shockwaves through defense circles and stock markets alike.

The JF-17 Thunder and J-10C, both made by Chengdu Aircraft Co., have drawn increased attention internationally. Monday’s market rally signals growing investor confidence in Chinese fighter jet technology amid its increasing use in active combat situations.

The escalation follows last week’s intense aerial confrontations, in which the PAF shot down multiple Indian aircraft and drones, including Rafale jets, in retaliation for Indian airstrikes on six locations in Pakistan — some said to be religious sites.

Amid rising global concern, both countries agreed to a “full and immediate ceasefire” on Saturday, ending four days of the most intense military exchanges in years between the two nuclear-armed neighbours.