Shares of China North Industries Group (Norinco) surged 22% to a record high as the state-owned defense contractor secured contracts from Pakistan, Myanmar, and Nigeria. Analysts estimate Norinco’s 2025 revenue will grow 35% YoY, driven by demand for its battle-tested, low-cost artillery.
Product Highlights:
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VT-4 Tanks: 30% cheaper than U.S. Abrams tanks.
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SH-15 Howitzers: Key export to African and Middle Eastern markets.
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Drone Swarms: AI-powered UAVs used in Pakistan’s Kashmir operations.
Controversies:
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Sanctions Risk: U.S. may blacklist Norinco for supplying Pakistan.
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Ethical Concerns: Sales to conflict zones like Sudan draw UN scrutiny.
Investor Takeaway:
“Norinco is the ‘Amazon of Arms’—fast, affordable, and globally accessible,” said JPMorgan’s Emily Zhou. “But geopolitical risks loom large.”
