Investment Rating - The report maintains a "Positive" investment rating for the defense and military industry [5] Core Viewpoints - The uncertainty in the Asia-Pacific situation is increasing, which may accelerate the equipment construction in China, focusing on new combat capabilities [2][12] - China's high-end aviation equipment showcased at the Dubai Airshow is expected to further expand the military trade market [12][15] - The Fujian aircraft carrier has conducted its first live training at sea, indicating a significant advancement in operational capabilities and technology [12][18] - The report emphasizes the importance of domestic demand for new combat capabilities and military trade as key growth areas [19] Summary by Sections Investment Suggestions and Targets - The report highlights various investment targets across different segments, including: - Engine and fuel chain: Companies like Xi'an Aero Engine (600893), Western Superconducting (688122), and others [19][20] - New quality and domains: Companies such as Aerospace Electronics (600879), Haige Communication (002465), and others [19][20] - Military electronics: Companies like Aerospace Electric (002025), Zhonghang Optical (002179), and others [19][20] - Military trade and main equipment: Companies such as AVIC Shenyang Aircraft (600760), AVIC Chengfei (302132), and others [19][20] Industry News and Market Performance - The report notes that the defense and military industry index has outperformed the broader market, with a decline of only -1.72% compared to the Shanghai Composite Index's -3.90% [22][25] - The report provides a detailed analysis of weekly market performance, indicating that the defense and military sector remains resilient amid broader market declines [22][25] Key Events and Developments - The report outlines significant recent events, including: - The U.S. government approved a new round of arms sales to Japan, which may heighten regional tensions and prompt China to expedite its military equipment development [12][9] - The successful live training of the Fujian aircraft carrier, showcasing advanced operational capabilities [12][18] - The participation of Chinese high-end military equipment in international exhibitions, enhancing China's presence in the global military trade market [12][15]

证券日报网讯振华科技（000733）11月14日在互动平台回答投资者提问时表示，公司股价受多种因素综 合影响，请理性看待市场波动。 ...

（文章来源：证券日报） 证券日报网讯振华科技11月14日在互动平台回答投资者提问时表示，具体经营业绩情况敬请关注公司定 期报告和专项公告。 ...

Core Viewpoint - The company indicates that the prices of passive components such as inductors and capacitors are market-driven, and industry price increases are beneficial for enhancing competitiveness in the civilian market [2] Group 1: Company Strategy - The company is actively promoting market expansion in civilian sectors such as low-altitude economy, commercial aerospace, and new energy vehicles [2] - The company encourages stakeholders to pay attention to its announcements and periodic reports for specific operational performance details [2]

格隆汇11月13日丨振华科技(000733.SZ)在投资者互动平台表示，公司钽电容产能利用率处于较高水 平，暂无扩产计划。 ...

Group 1 - The core viewpoint of the article is that the price of passive components such as inductors and capacitors is following market trends, and the industry's price increase is beneficial for enhancing competitiveness in the civilian market [1] - The company is actively promoting market expansion in civilian sectors such as low-altitude economy, commercial aerospace, and new energy vehicles [1]

Core Viewpoint - The company has established a stable supply chain for domestic new energy vehicle manufacturers, indicating a strong position in the market for automotive components [1] Group 1 - The company has confirmed its ability to provide stable supply to domestic new energy vehicle enterprises [1] - The company's products are applicable in millimeter-wave radar and electronic/non-electronic switches [1]

格隆汇11月13日丨振华科技(000733.SZ)在投资者互动平台表示，公司主营产品广泛应用于航空、航 天、电子、兵器、船舶及核工业等重要领域，并已成为该应用领域的重要支撑力量。 （原标题：振华科技(000733.SZ)：主营产品广泛应用于航空、航天等重要领域） ...

格隆汇11月13日丨振华科技(000733.SZ)在投资者互动平台表示，公司电感电容等被动元件产品的价格 随行就市，行业涨价有利于提升民用市场竞争力。公司正大力推进低空经济、商业航天、新能源汽车等 民品领域市场开拓。 ...

Core Viewpoint - The company has established a stable supply chain for domestic new energy vehicle manufacturers, indicating a strong position in the market for automotive components [1] Group 1 - The company provides products applicable in millimeter-wave radar systems [1] - The company's products are also used in both electronic and non-electronic switches [1]