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Home / Breaking News / Shares of JF-17 plane-maker’s sister company in China surged

Shares of JF-17 plane-maker’s sister company in China surged

BEIJING-UNS – Shares of Chinese JF-17 fighter jet maker Chengdu Aircraft Corporation’s (CAC) sister company Sichuan Chengfei Integration Technology (CAC-SCIT) surged after a former Pakistani officer tweeted that JF-17 fighter jet was used by the Pakistan Air Force (PAF) to shoot down Indian fighter jet in a dogfight, according to sources.
Retired PAF Air Marshal Shahid Latif took to Twitter and stated, “Proud to announce, I was project director for JF-17 Thunder programme jointly produced by Pakistan and China during the [2001-2008] tenure of general Pervez Musharraf.”

Today, same jets targeted and shot down Indian jets which entered Pakistani airspace.” he wrote.
Proud to announce, I was project director for JF-17 Thunder program jointly produced by Pakistan and China during the tenure of General Pervez Musharraf. Today, same jets targeted and shot down Indian Jets which entered Pakistani Airspace. #PakistanZindabaad #PakistanStrikesBack
Less than two hours after this tweet, shares of CAC-SCIT, a sister company of JF-17 maker Chengdu Aircraft Corporation (CAC), rose 10 percent in five minutes – hitting the maximum daily rise allowed on the Chinese stock market, reported the South China Morning Post.

Earlier on Wednesday, the PAF said that it had shot down two Indian fighter jets that entered Pakistani airspace near the Line of Control (LoC), and captured Indian Air Force (IAF) Wing Commander Abhinandan Varthaman.

The lightweight, single-engine, multi-role combat aircraft JF-17 was developed by CAC and is produced jointly with defense and aviation contractor Pakistan Aeronautical Complex.

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