此外，有机构分析指出，随着军队人事调整和相关制度改革的逐步落地、"十四五"后期订单有望逐步落实、积压叠加新增需求、外延并购预期 升温，预计2025下半年国防军工行业即将进入业绩兑现阶段。 实际上，部分国防军工上市公司二季报已呈现业绩好转趋势。据数据宝统计，目前已有42只军工股披露2025年上半年业绩（含快报、业绩预 告），合计实现净利润接近56亿元（2025年上半年业绩预告股取中值），较上一年同期净利润增长超45%。以可比口径统计，这42股净利润增 幅触底反弹，创近5年同期最高水平。 连涨4天后，7月30日，国防军工盘初冲高回落，午后加速走低！代码有"八一"的国防军工ETF（512810）跌逾2%，成份股建设工业跌停，六 九一二、洪都航空跌逾5%。 值得关注的是，512810场内溢价走阔，资金逢跌吸筹痕迹明显。此前2日，已有超3500万元资金进场。 | स्त्रेष्ठ | 多日 1分 ▼ | | | | | F9 盘前盘后 否加 九转 画线 丁具 & (?) » | | | | | | | | | 国防至工ETF ① | | | | | --- | --- | --- | --- | --- | --- ...

每经AI快讯，7月30日，多只高位人气股大幅走低，建设工业跌停，中钨高新、东信和平、中银证券、 宏和科技、仕佳光子、盛和资源等跌超8%。 （文章来源：每日经济新闻） ...

内蒙一机 20250729 摘要 内蒙一机 2020-2023 年收入持续增长，但 2024 年收入持平微降，利 润下降 41%至 5 亿元，主要因产品结构性差异和境外收入下降导致毛利 率降低。2025 年 Q1 收入同比增长近 20%，利润同比增长 11%。 公司现有主战坦克升级，加装反无人机系统，并启动下一代主战坦克研 发计划。各国已逐步亮相第四代坦克，中国也在研制，有望给公司带来 增量。 无人装备领域发展潜力巨大，内蒙一机可能成为地面无人装备综合平台。 无人装备建设经历隐身远航程、察打一体到人机协同、集群作战及 AI 自 主决策阶段。 俄乌战争揭示现代坦克装甲生存能力堪忧，但需通过升级现有坦克和研 发下一代坦克来提升其有效性和防护能力。 内蒙一机在 2024 年年报中首次提出布局无人化、机器人及人工智能领 域，重点攻坚地面无人装备。增资爱生无人机，有望推动地面无人装备 与无人机的深度融合。 Q&A 内蒙一机的基本情况和历史背景如何？ 内蒙一机成立于 1,959 年，是中国首台坦克的生产企业，结束了中国不能生产 坦克的历史。经过多年的整合，内蒙一机形成了军品和民品两大业务板块。公 司主要产品包括主战坦克及 ...

Group 1 - The military industry sector remains active, with the Aerospace ETF Tianhong (159241) reaching a new high since its listing, showing a 0.59% increase and a turnover rate of nearly 5% [1] - The Aerospace ETF Tianhong (159241) has seen a net inflow of over 4.7 million yuan, with a total circulation scale of 415 million yuan and a share growth rate of 84.61% year-to-date, ranking first among similar products [1] - The Aerospace ETF closely tracks the Guozheng Aerospace Index, which has over 98% weight in the defense and military industry, making it the highest military content index in the market [1] Group 2 - Several brokerages have analyzed Q2 public fund holdings, indicating that institutions have begun to increase their allocation to the military sector, suggesting a potential turning point for the industry [2] - According to Minsheng Securities, after ten consecutive quarters of reducing military allocations, institutions started to increase their allocation in Q2 2025, indicating a recovery in industry demand [2] - Dongfang Securities noted a significant increase in the overweighting of military stocks by active funds in Q2 2025, with expectations for further expansion due to market perceptions and performance elasticity [2]

Market Overview - The Shanghai Composite Index is at 3597.22 points, above the five-day moving average, with a slight increase of 0.10% [1] - The total trading volume of A-shares today is 14,360.10 billion yuan [1] Stocks Performance - A total of 656 A-shares have surpassed the five-day moving average today [1] - Notable stocks with significant deviation rates include: - Tongguan Copper Foil (15.08%) - Defu Technology (9.48%) - *ST Huike (9.43%) [1] - Stocks with smaller deviation rates that have just crossed the five-day moving average include: - Yao Yigou - Ningde Times - SAIC Group [1] Top Stocks by Deviation Rate - The following stocks have the highest deviation rates from the five-day moving average: - Tongguan Copper Foil: 20.00% increase, trading at 25.08 yuan [1] - Defu Technology: 11.96% increase, trading at 30.99 yuan [1] - *ST Huike: 12.10% increase, trading at 12.88 yuan [1] - Other notable stocks include: - Chaojie Shares: 12.51% increase, trading at 42.08 yuan [1] - Zhongxin Fluorine: 10.00% increase, trading at 20.68 yuan [1] [2]

公司深度研究 | 内蒙一机 国内唯一主战坦克研制基地，内需外贸双驱动 内蒙一机（600967.SH）首次覆盖报告 国家唯一主战坦克研发制造基地，内需军贸双驱动。公司作为国家唯一的集 主战坦克系列、中重型轮式装甲车系列、中口径火炮为一体的装备研制生产 基地，形成了轮履结合、车炮结合、轻重结合、内外贸结合的研制生产格局， 成为我国重要的主战坦克和 8×8 轮式装甲车研发制造基地。 营收利润短期承压，25Q1 业绩拐点向上。公司 24 年实现营收 97.92 亿元， 同比-2.18%；实现归母净利润 5.00 亿元，同比-41.33%。25 年 Q1 实现营 收 27.31 亿元，同比+19.6%；实现归母净利润 1.86 亿元，同比+11.03%， 业绩改善。 内需：新一代装备具备持续换装需求，业务拓展布局军用无人化领域。我国 ZTZ-99 式主战坦克自 1999 年首次亮相距今已超过 20 年，我国正在研发第 四代新型主战坦克。随着无人化浪潮的兴起，内蒙一机积极布局军工无人化 领域，依托自身在装甲车辆领域的技术优势，开展无人装备的研发和生产， 后续增长潜力巨大。 外贸：外贸需求推动，坦克出口有望迎来小高峰。公司 ...

金融界7月24日消息，上证指数低开高走，上证580指数 (上证580，950580)上涨1.3%，报1674.0点，成 交额1612.23亿元。 数据统计显示，上证580指数近一个月上涨10.14%，近三个月上涨12.55%，年至今上涨17.29%。 据了解，上证580指数从沪市证券中选取市值规模较小、流动性较好的580只证券作为样本，反映上海证 券市场市值较小上市公司证券的整体表现。该指数以2018年12月28日为基日，以1000.0点为基点。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。每次调整的样本数量比例一般不超过20%。权重因子随样本定期调整而调整，调整时间与指数 样本定期调整实施时间相同。在下一个定期调整日前，权重因子一般固定不变。特殊情况下将对指数进 行临时调整。当样本退市时，将其从指数样本中剔除。样本公司发生收购、合并、分拆等情形的处理， 参照计算与维护细则处理。 从指数持仓来看，上证580指数十大权重分别为：益方生物（0.58%）、仕佳光子（0.57%）、华创云信 （0.56%）、内蒙一机（0.54%）、方正科技（0.53%）、宏达股 ...

Group 1 - A total of 12 stocks received buy ratings from institutions today, with Baolingbao, Puluo Pharmaceutical, and Xinyuanwei being newly covered by institutions [1] - Among the stocks rated, the average increase was 1.14%, outperforming the Shanghai Composite Index, with notable gainers including Xinyuanwei, Shantui, and Hanyi, which rose by 5.56%, 4.41%, and 4.09% respectively [1] - The stocks with the largest declines included Jinbo Biological, Baofeng Energy, and Miao Exhibition, which fell by 2.14%, 1.70%, and 1.60% respectively [1] Group 2 - The newly rated stocks include Puluo Pharmaceutical with a strong buy rating from Huachuang Securities, and Baolingbao with an increase rating from Guotai Haitong [2] - The target price for Puluo Pharmaceutical is set at 22.00 yuan, while Baolingbao has a target price of 16.30 yuan [2] - Other stocks receiving buy ratings include Miaokelan Duo, Tielong Logistics, and Gole Technology, with target prices of 33.00 yuan, 7.09 yuan, and unspecified respectively [2]

| 首选股票 | | 评级 | | --- | --- | --- | | 600435.SH | 北方导航 | 买入-A | | 002025.SZ | 航天电器 | 增持-A | | 600760.SH | 中航沈飞 | 买入-A | | 600862.SH | 中航高科 | 增持-A | | 600967.SH | 内蒙一机 | 增持-A | 相关报告： 【山证国防军工】全球市场格局发生剧 变，中国客机迎来历史机遇-【山证军工】 国产大型客机专题报告 2025.6.6 【山证国防军工】业绩筑底景气回升， 商业航天加速突破-【山证军工】国防军 工 2025 年度策略 2025.1.8 分析师： 骆志伟 资料来源：最闻 执业登记编码：S0760522050002 邮箱：luozhiwei@sxzq.com 李通 执业登记编码：S0760521110001 电话：010-83496308 邮箱：litong@sxzq.com 国防军工 国防军工 2025 年中期策略 领先大市-A(维持) 国际局势动荡加剧，我国军贸大有可为 ➢ 筑底回升重启景气周期。2025 年是承上启下的一年，过去半年中十四五 延迟订单逐步 ...

Group 1 - The report aims to summarize important weekly deep reports, significant commentary, and marginal changes within the macro strategy team of large manufacturing [1] - Core stocks identified by the team include Huada Jiutian, Shanghai Yanpu, Zhejiang Rongtai, and others [1] - The core portfolio consists of companies such as Sany Heavy Industry, XCMG Group, and others, indicating a focus on key players in the manufacturing sector [1] Group 2 - As of July 18, 2025, the best-performing indices in the last week included Communication (+8%), Pharmaceutical Biology (+4%), and Automotive (+3%) [2][13] - The top three indices in the large manufacturing sector were Changjiang Lithium Battery Equipment Index (+5%), Automotive Parts (+4%), and Automotive (+3%) [2][15] - A deep report on Xuguang Electronics highlights its leadership in domestic vacuum devices and growth potential in controllable nuclear fusion and electronic materials [4] Group 3 - The report indicates that the total investment of approximately 1.2 trillion yuan in the Yarlung Zangbo River downstream hydropower project has commenced, driving demand for construction machinery [3] - The defense sector is expected to benefit from military trade leading to strategic reassessment, particularly in regions like the Middle East [3] - The competitive landscape for vacuum arc extinguishing chambers shows a high concentration in the domestic market, with a CR2 of about 60% [5] Group 4 - The report forecasts a revenue CAGR of approximately 35% for the megawatt-level electronic tube segment from 2024 to 2027 [4] - The power equipment business is expected to achieve a revenue CAGR of about 10% during the same period, driven by ongoing investments in the power grid [4] - The military business is projected to benefit from increased defense spending, with precision structural components expected to account for 58% of military revenue in 2024 [5] Group 5 - The report anticipates that the company will achieve revenues of 1.95 billion, 2.39 billion, and 3.03 billion yuan from 2025 to 2027, with a CAGR of 24% [4] - The expected net profit for the same period is projected to be 170 million, 210 million, and 270 million yuan, with a CAGR of 39% [4] - The report highlights the company's strong position in the domestic aluminum nitride materials market, benefiting from domestic substitution trends [5] Group 6 - The report notes that the company has a high market share in the medical information technology sector, covering approximately 60% of tertiary hospitals by the end of 2024 [6] - The expected growth in the domestic medical software industry is projected at a CAGR of 11.5% from 2024 to 2029 [6] - The company is collaborating with major players like Huawei to develop a comprehensive intelligent medical information platform [6]