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This Could Be Our Best View Yet Of China's J-36 Very Heavy Stealth Tactical Jet

This Could Be Our Best View Yet Of China's J-36 Very Heavy Stealth Tactical Jet

Yahoo07-06-2025
A new image appearing to show China's 'J-36' 6th generation tactical jet parked on the ground has emerged online. If legitimate, this would be the best front view of the aircraft to date, notably providing clear proof of the canopy design and further confirmation of a side-by-side seating arrangement. What looks to be three open ventral weapons bays, along with nearby personnel, underscore the design's large size — something of a hybrid between a very heavy fighter and a tactical bomber. You can read more about what is already known about the J-36, as well as the second of China's 6th generation jets, referred to variously as the J-XDS or J-50, in this past in-depth feature.
It is immediately worth noting that there are some visual anomalies in the image in question, which is seen at the top of this story and in various parts below, and was clearly taken with a long lens at a distance, low over the ground. Most significantly, areas around the rear end of the aircraft and its dorsal inlet look as though they may have been 'smudged' or 'cloned out' to some degree. This 'missing area' behind the dorsal inlet could also just be glare from a lighter-colored section of the aircraft camouflage paint scheme, or some combination of the two, but it is hard to say definitively. The main gear area — especially the right side of the image) appears to be manipulated or there is something placed there in the shadows. The image is also a picture taken of another picture on a computer monitor, which could cause some visual distortions. In addition, many phone cameras now produce images that are 'enhanced' by default.
At the same time, overall, the core image does look legitimate. In addition, the background aligns with an area around an extended-width shelter, and especially the distinctive white slatted jet-blast barrier built behind it. The shelter first appeared at the Chengdu Aircraft Corporation's main plant in the Chinese city of the same name last December. That was when the J-36, together with the J-XDS/J-50, first broke cover. Chengdu is understood to be the developer of the J-36, and the aircraft been observed flying from there on multiple occasions in the past six months. Another secure hangar on the main ramp appears to have been built to support the program, as well.
If the image is indeed real, it would fully put to rest the question of whether or not the J-36 has at least a two-seat side-by-side cockpit configuration akin to the U.S.-made F-111 or the Soviet-designed Su-34. The green-tinted reflections from two separate heads-up displays (HUDs) are plainly visible, as seen below. TWZ has previously noted that a crew of two seems most likely to meet the demands of the jet's expected mission sets, as you can read more about more in this past feature.
Also, perhaps of the highest interest at this stage, is the very strong evidence, based on the open doors that are visible, of the presence of two smaller weapons bays that flank the jet's large ventral weapons bay. There does not appear to be any confusion between those bay doors and the ones for the aircraft's landing gear. Previous underside views of the J-36 have shown large, molded, outward-hinging doors for the aircraft's large tandem-wheel main landing gear, as well as two smaller doors for the nose gear bay.
The possibility of additional weapons bays within the J-36's fuselage to either side of the main bay has been raised in the past, but there has been no clear evidence of that in the past. TWZ has previously highlighted the significant internal volume, overall, that the J-36 clearly has, and the implications thereof, writing:
'The semi-blended ventral central fuselage area has some similarities with the J-20, notably its weapons bay configuration. While the aircraft clearly has a very large internal volume, putting a bit of a bias on fuel fraction over magazine depth would be a good assumption. A weapons bay somewhat longer, but far deeper than that found on the J-20 would provide ample space for multiple smaller stores and at least a couple of very large ones. A rotary weapons rack seems questionable, but if it is possible, it would only be advantageous for certain weapons loadouts featuring numerous, smaller munitions. Additional side bays for air-to-air weaponry, as shown by many fan art depictions, may be possible, although there is no clear evidence of them at this time.'
The two auxiliary bays would be especially useful for air-to-air missiles and smaller guided air-to-surface weapons, which would allow the cavernous central bay to be reserved for larger loads, including outsized standoff weapons. Before this image, there was only speculation and fleeting evidence that these bays might exist, but now it seems quite likely they do. You can also see these bay doors swing outward, precluding them from being related to the aircraft's main landing gear.
In addition, the new head-on image offers another look at the large aperture windows, typically associated with electro-optical/infrared sensors, on either side of the J-36's nose. We also get an additional view of the lower trapezoidal air inlets on either side of J-36's cockpit, as well as the dorsal inlet, which are linked to the aircraft's unique triple-engine configuration. The lower inlets are broadly similar in shape to those found on the U.S. F-22 Raptor stealth fighter.
Otherwise, as noted, the view in the newly emerged image underscores the overall size of the J-36, which is itself a very unusual feature of the design. The ground personnel visible provide an additional sense of scale that we've not had previously. China is known to have been pursuing a 'regional bomber' of sorts, sometimes referred to as the JH-XX, at least in the past. It remains unclear whether or not the J-36 is meant to fulfill the JH-XX requirements in any way, or blend them together in some part with a next-generation heavy fighter role.
As TWZ previously wrote in our deep-dive feature into what is known about the J-36, and, to a lesser extent, the J-XDS/J-50:
'Similar to the 6th generation definition issue, putting an aircraft like this into a single bucket is challenging just as an observational exercise, and the reality of how China views it could reflect that. Definitively declaring any new highly advanced platform a 'bomber' in 2025 is also an uninformed simplification or just a casual moniker. Just as the B-21 is a multi-role platform, the JH-XX, and even the H-20, would be as well, with the latter's less traditional capabilities possibly expanding more slowly over time. While fine to use casually, the term 'bomber' is now a traditional carry-over that is unrepresentative of what any new long-range, high-end combat aircraft will be capable of.'
The new image of the J-36 is the latest in a steady stream of increasingly more interesting visuals of that aircraft, as well as the J-XDS/J-50, which continue to offer more and more insights into both designs. Just in the past week, we had already gotten our first real head-on look at the J-36. This all follows typical trends with regard to 'leaked' imagery of new Chinese aircraft and other military assets, and as we stated in our original analysis, we would likely get an image like this by Summer. More detailed images, as well as one from the rear aspects will surely come.
Contact the author: joe@twz.com
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CONTACT: Vince ArnonePresident and CEO (630) 845-4500 Devin SullivanManaging DirectorThe Equity Group FUEL TECH, CONSOLIDATED BALANCE SHEETS(in thousands, except share and per share data) June 30, December 31, 2025 2024 ASSETS Current assets: Cash and cash equivalents $ 10,589 $ 8,510 Short-term investments 12,420 10,184 Accounts receivable, less current expected credit loss of $108 and $106, respectively 6,293 9,368 Inventories, net 616 397 Prepaid expenses and other current assets 1,093 1,160 Total current assets 31,011 29,619 Property and equipment, net of accumulated depreciation of $19,155 and $18,958, respectively 4,853 5,084 Goodwill 2,116 2,116 Other intangible assets, net of accumulated amortization of $543 and $525 respectively 315 327 Right-of-use operating lease assets, net 578 585 Long-term investments 7,925 10,875 Other assets 205 191 Total assets $ 47,003 $ 48,797 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 2,124 $ 2,915 Accrued liabilities: Operating lease liabilities - current 84 77 Employee compensation 743 1,248 Other accrued liabilities 2,375 1,615 Total current liabilities 5,326 5,855 Operating lease liabilities - non-current 536 548 Deferred income taxes, net 176 176 Other liabilities 301 263 Total liabilities 6,339 6,842 Stockholders' equity: Common stock, $.01 par value, 40,000,000 shares authorized, 32,281,179 and 31,767,329 shares issued, and 31,074,438 and 30,708,273 shares outstanding, respectively 322 317 Additional paid-in capital 165,503 165,295 Accumulated deficit (120,900 ) (119,472 ) Accumulated other comprehensive loss (1,769 ) (1,915 ) Nil coupon perpetual loan notes 76 76 Treasury stock, at cost (2,568 ) (2,346 ) Total stockholders' equity 40,664 41,955 Total liabilities and stockholders' equity $ 47,003 $ 48,797 See notes to condensed consolidated financial TECH, CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except share and per share data) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Revenues $ 5,558 $ 7,042 $ 11,940 $ 11,999 Costs and expenses: Cost of sales 3,029 4,090 6,452 7,018 Selling, general and administrative 3,347 3,245 6,688 6,590 Research and development 490 422 1,060 798 6,866 7,757 14,200 14,406 Operating loss (1,308 ) (715 ) (2,260 ) (2,407 ) Interest income 537 334 816 645 Other income (expense), net 86 (34 ) 20 1,639 Loss before income taxes (685 ) (415 ) (1,424 ) (123 ) Income tax expense (4 ) (6 ) (4 ) (17 ) Net loss $ (689 ) $ (421 ) $ (1,428 ) $ (140 ) Net loss per common share: Basic net loss per common share $ (0.02 ) $ (0.01 ) $ (0.05 ) $ (0.00 ) Diluted net loss per common share $ (0.02 ) $ (0.01 ) $ (0.05 ) $ (0.00 ) Weighted-average number of common shares outstanding: Basic 30,868,000 30,482,000 30,796,000 30,434,000 Diluted 30,868,000 30,482,000 30,796,000 30,434,000 See notes to condensed consolidated financial TECH, CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS(in thousands) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Net loss $ (689 ) $ (421 ) $ (1,428 ) $ (140 ) Other comprehensive loss: Foreign currency translation adjustments 11 5 146 (138 ) Comprehensive loss $ (678 ) $ (416 ) $ (1,282 ) $ (278 ) See notes to condensed consolidated financial TECH, CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands) Six Months Ended June 30, 2025 2024 Operating Activities Net loss $ (1,428 ) $ (140 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation 327 161 Amortization 18 31 Non-cash interest income on held-to-maturity securities (90 ) (72 ) Stock-based compensation, net of forfeitures 212 228 Changes in operating assets and liabilities: Accounts receivable 1,987 (334 ) Employee retention credit receivable 1,232 (1,677 ) Inventory (218 ) (24 ) Prepaid expenses, other current assets and other non-current assets 77 367 Accounts payable (833 ) 524 Accrued liabilities and other non-current liabilities 203 (1,728 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Operating income (loss) from operations $ 1,524 $ 3,964 $ (7,748 ) $ (2,260 ) Air Pollution FUEL CHEM Six months ended June 30, 2024 Control Segment Segment Other Total Revenues from external customers $ 6,267 $ 5,732 $ — $ 11,999 Cost of sales (3,833 ) (3,185 ) — (7,018 ) Gross margin 2,434 2,547 — 4,981 Selling, general and administrative — — (6,590 ) (6,590 ) Research and development $ — — (798 ) (798 ) Operating income (loss) from operations $ 2,434 $ 2,547 $ (7,388 ) $ (2,407 ) FUEL TECH, Segment Financial Data(in thousands) Information concerning our operations by geographic area is provided below. Revenues are attributed to countries based on the location of the end-user. Assets are those directly associated with operations of the geographic area. Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Revenues: United States $ 4,442 $ 4,471 $ 9,801 $ 8,066 Foreign 1,116 2,571 2,139 3,933 $ 5,558 $ 7,042 $ 11,940 $ 11,999 June 30, December 31, 2025 2024 Assets: United States $ 44,130 $ 44,430 Foreign 2,873 4,367 $ 47,003 $ 48,797 FUEL TECH, OF GAAP NET LOSS TO EBITDA AND ADJUSTED EBITDA (in thousands) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Net Loss $ (689 ) $ (421 ) $ (1,428 ) $ (140 ) Interest income (537 ) (334 ) (816 ) (645 ) Income tax expense 4 6 4 17 Depreciation expense 163 81 327 161 Amortization expense 9 15 18 31 EBITDA (1,050 ) (653 ) (1,895 ) (576 ) Stock compensation expense 102 124 212 228 Gain on employee retention credit - - - (1,677 ) Adjusted EBITDA $ (948 ) $ (529 ) $ (1,683 ) $ (2,025 )Adjusted EBITDA To supplement the Company's consolidated financial statements presented in accordance with generally accepted accounting principles in the United States (GAAP), the Company has provided an Adjusted EBITDA disclosure as a measure of financial performance. Adjusted EBITDA is defined as net income (loss) before interest expense, income tax expense (benefit), depreciation expense, amortization expense, stock compensation expense and gain on employee retention credit. The Company's reference to these non-GAAP measures should be considered in addition to results prepared in accordance with GAAP standards, but are not a substitute for, or superior to, GAAP results. Adjusted EBITDA is provided to enhance investors' overall understanding of the Company's current financial performance and ability to generate cash flow, which we believe is a meaningful measure for our investor and analyst communities. In many cases non-GAAP financial measures are utilized by these individuals to evaluate Company performance and ultimately determine a reasonable valuation for our common stock. A reconciliation of Adjusted EBITDA to the nearest GAAP measure of net income (loss) has been included in the above financial while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

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