The company had announced that on 9 July, the N5B aircraft made its first successful maiden voyage. The aircraft is a custom built multi-purpose plane to be used in the agriculture and forestry industry.

Following its maiden voyage launching ceremony, the company signed a Letter of Intent to sell N5B aircraft to Heilongjiang Longken General Aviation Company and Xinjiang General Aviation Co. Ltd. According to the agreement, as of 2010, Heilongjiang Longken intends to buy 33 units of the N5B aircraft and Xinjiang General Aviation intends to buy 35 units of the N5B aircraft. The company has set a tentative price of RMB 4.8 mln for each N5B aircraft. The final price is subject to sales contracts to be signed at a later date with the buyers.

The N5B aircraft is a new agriculture and forestry prototype, designed based on extensive local and foreign research. It maintains the N5A aircraft advantages, including stable hedgehopping, easy operations and maintenance, economical and safe. Currently, the N5B aircraft has developed better structure, increased payload and comfort among other aspects. It has a larger application scope and a wider flying airspace capability, which meets special national demands to develop Northwest China.

Source: Shanghai Securities News

Date: 10 Jul 2008

CN01/RL/MZ/BT/WH