Market Overview - The Shanghai Composite Index rose by 0.04% on June 18, with nine sectors experiencing gains, led by the electronics and communications sectors, which increased by 1.50% and 1.39% respectively. The defense and military industry ranked third in terms of gains [1] - The beauty and real estate sectors saw the largest declines, with decreases of 1.73% and 1.35% respectively [1] Capital Flow Analysis - The main capital outflow from the two markets totaled 17.787 billion yuan, with five sectors seeing net inflows. The electronics sector led with a net inflow of 4.346 billion yuan, while the banking sector followed with a net inflow of 1.314 billion yuan and a daily increase of 0.92% [1] - A total of 26 sectors experienced net capital outflows, with the pharmaceutical and biological sector leading with a net outflow of 3.729 billion yuan, followed by the computer sector with a net outflow of 3.030 billion yuan [1] Defense and Military Industry Performance - The defense and military industry rose by 0.95% with a net capital inflow of 979 million yuan. Out of 139 stocks in this sector, 105 stocks increased, and three stocks hit the daily limit [2] - The top three stocks with the highest net inflow in the defense sector were Changcheng Military Industry with 237 million yuan, AVIC Chengfei with 138 million yuan, and Zhong Wuyun with 112 million yuan [2] - The stocks with the largest net outflows included AVIC Shenyang Aircraft with a net outflow of 1.594 billion yuan, Tianqin Equipment with 734 million yuan, and Tianhai Defense with 686 million yuan [4]

证券代码：302132 证券简称：中航成飞 公告编号：2025-057 中航成飞股份有限公司 2025年中期权益分派实施公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 1、截至本公告披露日，中航成飞股份有限公司（以下简称"公司"）回购专 户持有股份 4,691,000 股，根据《公司法》等相关规定，该部分已回购股份不参与 本次中期权益分派。本次中期权益分派以公司现有总股本 2,676,782,376 股剔除公 司回购专户持有股份 4,691,000 股后的 2,672,091,376 股为基数，向全体股东每 10 股派发现金股利 6.23 元（含税），合计派发现金股利 1,664,712,927.25 元，送红 股 0 股（含税），以资本公积金向全体股东每 10 股转增 0 股。 2、本次利润分配实施完成后，公司将按照总股本（含回购股份）折算的每 10 股现金分红的比例计算除权除息参考价格：按公司总股本（含回购股份）折算每 10 股现金分红金额=1,664,712,927.25 元÷2,676,782,376 股×10=6.219082 元（ ...

Core Viewpoint - The China Securities Index for Aerospace and Military Industry (空天军工指数) has shown mixed performance, with a recent decline despite a slight increase over the past month, indicating potential volatility in the sector [1][2]. Group 1: Index Performance - The Aerospace and Military Industry Index opened lower and experienced a decline of 0.33%, closing at 1961.31 points with a trading volume of 17.052 billion yuan [1]. - Over the past month, the index has increased by 2.43%, but it has decreased by 3.72% over the last three months, and it has risen by 2.28% year-to-date [1]. Group 2: Index Composition - The index includes companies whose main business is closely related to the aerospace and military strategy, covering sectors such as aircraft, power and control systems, early warning systems, weapon systems, C4ISR systems, military digitalization, and aerospace materials [1]. - The top ten weighted companies in the index are: AVIC Shenyang Aircraft (9.01%), AVIC Optoelectronics (7.08%), Aero Engine Corporation of China (6.99%), AVIC Xi'an Aircraft (5.23%), AVIC Aircraft (4.08%), Haige Communications (3.76%), AVIC Chengfei (3.7%), Aerospace Electronics (3.56%), Ruichuang Micro-Nano (3.31%), and Western Superconducting (3.21%) [1]. Group 3: Market Distribution - The index's market distribution shows that the Shanghai Stock Exchange accounts for 55.76% and the Shenzhen Stock Exchange accounts for 44.24% [2]. - In terms of industry composition, the index is comprised of 72.39% industrial companies, 13.28% materials, 7.81% information technology, and 6.52% communication services [2]. Group 4: Index Adjustment - The index samples are adjusted semi-annually, with adjustments occurring on the next trading day after the second Friday of June and December each year [2]. - Weight factors are adjusted in accordance with the sample changes, and temporary adjustments may occur under special circumstances, such as delisting or corporate restructuring [2]. Group 5: Related Funds - Public funds tracking the Aerospace and Military Industry Index include Penghua China Securities Aerospace and Military Industry C and Penghua China Securities Aerospace and Military Industry A [3].

Investment Rating - The report maintains a "Positive" investment rating for the defense and military industry [5]. Core Insights - The demand for military equipment is expected to expand due to ongoing international turmoil, with a focus on military trade and upstream sectors [1]. - The military electronics market is anticipated to grow significantly as modernized weapon systems require advanced electronic components [7][28]. - The recent escalation of conflicts, particularly between Israel and Iran, is likely to sustain the demand for military equipment [31]. Summary by Sections Industry Performance - The defense and military industry index increased by 1.03%, outperforming the Shanghai Composite Index, which decreased by 0.25% [10][13]. - The relative return of the defense and military index compared to the CSI 300 was +1.29% [10]. Key News and Developments - Russia is focusing on developing modernized weapon systems, emphasizing the need for advanced electronic components [28][30]. - The ongoing Israel-Iran conflict has led to increased military equipment demands, with Israel conducting extensive airstrikes [31]. Investment Recommendations - The report suggests focusing on specific sectors within the military industry, including military electronics and key materials [7]. - Recommended stocks include: - Military Electronics: Zhenhua Technology, Aerospace Electrical, and others [7]. - Key Materials: Western Superconducting, Chujian New Materials, and others [7].

Group 1 - The core viewpoint of the article highlights the active cash dividend distribution among listed companies, with a total of 3,676 companies proposing distribution plans for the 2024 fiscal year, and 3,671 of them including cash dividends totaling 1.64 trillion yuan [1][2] - The implementation of dividend distribution is concentrated around two key dates: the ex-dividend date and the record date, with 1,948 companies having already implemented their distribution plans [1] - Companies with significant cash dividends include Perlay, which offers 11.90 yuan per 10 shares, followed by Anji Food and Zhengqi Co., with 10.15 yuan and 9.20 yuan per 10 shares respectively [1][2] Group 2 - Among the companies distributing dividends today, Shanke Intelligent, Nanling Technology, and Junxin Co. have the highest stock transfer ratio of 4.00 shares for every 10 shares [2] - The stock performance of companies with dividend distributions shows that Yingli Automotive has the highest increase over the past five days, with a rise of 33.33%, followed by Deyi Culture and Hengbao Co. [2][3] - A detailed list of companies and their respective dividend distributions and stock performance is provided, indicating various payout amounts and recent price changes [3][4]

Core Viewpoint - The A-share market has undergone a series of index adjustments effective from June 16, impacting various indices including the Shanghai Composite and Shenzhen Composite indices, with a total of 187 sample changes across six cross-market indices [1][3][4]. Group 1: Index Adjustments - The Shanghai and Shenzhen indices have collectively replaced 61 samples, with the Shanghai 50 index changing 4 samples, the Shanghai 180 index changing 18 samples, the Shanghai 380 index changing 38 samples, and the Sci-Tech 50 index changing 1 sample [21][30]. - The six cross-market indices have replaced a total of 187 samples, with the CSI 300 index changing 7 samples, the CSI 500 index changing 50 samples, and the CSI 1000 index changing 100 samples [4][19]. Group 2: New Index Launch - The Shanghai 580 index has been officially launched, focusing on smaller market capitalization stocks within the Shanghai market, reflecting the overall performance of smaller listed companies [2][31]. - Approximately 30% to 60% of the sample weight in the Shanghai 580 index is attributed to sectors such as the Sci-Tech board, specialized and innovative companies, private enterprises, and emerging industries, highlighting its innovative small-cap characteristics [33]. Group 3: Industry Representation - The adjustments have led to an increase in the representation of information technology, communication services, and industrial sectors within the indices, enhancing market representation [18][19]. - The manufacturing sector's weight in the Shenzhen Component Index remains high at 73%, with 211 companies projected to achieve revenue and profit growth in 2024 [30].

Market Overview - Major global stock indices experienced a significant decline on June 13, with the Nikkei 225 down 0.89% to 37,834.25 points, and the South Korean Composite Index down 0.87% to 2,894.62 points [1] - European indices also opened lower, with the Euro Stoxx 50, DAX 30, and CAC 40 all dropping over 1% [1] - In the US pre-market trading, all three major indices' futures fell over 1% [1] - The A-share market saw a broad pullback, with the Shanghai Composite Index down 0.75% to 3,377 points and the Shenzhen Component down 1.1% to 10,122.11 points [1] Sector Performance - Nearly 4,500 stocks in the market were in the red, with retail, liquor, and food and beverage sectors experiencing collective declines; Guizhou Moutai fell over 2% [2] - The oil sector saw significant gains, with companies like Keli Co. and Tongyuan Petroleum hitting the daily limit [2][4] - Military trade concepts surged, with Aerospace Nanhua rising over 17% [9] - Gold-related stocks also increased, with companies like Cuihua Jewelry and Western Gold reaching the daily limit [8] Oil Sector Insights - The oil sector experienced a substantial rally, with Keli Co. and Tongyuan Petroleum both hitting the daily limit of 30% and 20% respectively [4] - International oil prices surged, with WTI crude oil rising over 14% to a peak of $77.62 per barrel, and Brent crude oil increasing over 13% to $78.5 per barrel [4] - The geopolitical situation in the Middle East has raised concerns about oil supply, despite OPEC+ being in a production increase phase [7] Military Trade Sector - Military trade stocks saw a strong upward trend, with Aerospace Nanhua increasing over 17% and several other companies rising over 10% [9] - The ongoing geopolitical conflicts, particularly the India-Pakistan situation, have led to a reassessment of military trade logic, potentially providing higher profit margins for domestic military products [11] - Increased military spending globally due to rising geopolitical tensions is expected to boost demand for military imports [11]

全球股市巨震。 6月13日，亚太主要股指集体走低，日经225指数收盘跌0.89%报37834.25点，韩国综合指数跌0.87%报2894.62点，新西兰标普50指数跌0.76%报12552.87点。 受中东地缘局势急剧升温影响，国际油价大幅拉升，WTI原油主力合约盘中一度涨超14%，最高升至77.62美元/桶；布伦特原油主力合约一度涨超13%，最高升至 78.5美元/桶。国内方面，上海原油主力合约一度涨停。 消息面上，据央视新闻报道，当地时间12日凌晨，以色列对伊朗发动袭击。13日早间，以色列国防军发言人埃菲·戴弗林发布视频声明称，当天凌晨以军共出动超过 200架战机参与对伊朗的首轮空袭，其间共投下330多枚弹药，打死了伊朗高级军事领导人以及其他指挥官。他同时称，过去几小时内，伊朗方面向以色列发射了 100多架无人机，目前以军正在努力拦截这些无人机。 A股市场全线回调，深证成指、创业板指跌逾1%；港股亦走弱，恒生科技指数跌近2%。截至收盘，沪指放量跌0.75%报3377点，深证成指跌1.1%报10122.11点，创 业板指跌1.13%报2043.82点，北证50指数跌2.92%，沪深北三市合计成交15041亿 ...

Group 1 - The core point of the article highlights the significant drop in the stock price of AVIC Chengfei, which fell by 4.33% on June 10 [1] - AVIC Chengfei Co., Ltd. was established in 2002 and is primarily engaged in the manufacturing of instruments and meters, with a registered capital of approximately 2.68 billion RMB [1] - Two funds under E Fund Management, namely E Fund ChiNext ETF and E Fund National Defense and Military Industry Mixed A, have reduced their holdings in AVIC Chengfei during the first quarter of this year [1] Group 2 - The E Fund ChiNext ETF has reported a year-to-date return of -4.10%, ranking 2947 out of 3393 in its category [1] - The E Fund National Defense and Military Industry Mixed A has a year-to-date return of 0.45%, ranking 3193 out of 4536 in its category [1] - The performance of the E Fund ChiNext ETF has shown a decline of 6.67% over the past three months and 9.32% over the past six months [2] Group 3 - The fund managers for the E Fund ChiNext ETF and E Fund National Defense and Military Industry Mixed A are Cheng Xi and Liu Shurong, respectively [5][6] - Cheng Xi has been managing funds since May 7, 2016, and has extensive experience in various funds under E Fund Management [5][6] - Liu Shurong has been a fund manager since July 18, 2017, and has also managed multiple funds within E Fund Management [7] Group 4 - E Fund Management Company was established in April 2001 and is led by Chairman Liu Xiaoyan and General Manager Wu Xinrong [8] - The company has 11 shareholders, with Yingfeng Group, Guangdong Yuecai Trust, and Guangfa Securities each holding 22.65% of the shares [8]

证券代码：302132 证券简称：中航成飞 公告编号：2025-056 中航成飞股份有限公司 2024年年度权益分派实施公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 二、本次实施的利润分配方案 1、截至本公告披露日，中航成飞股份有限公司（以下简称"公司"）回购专 户持有股份 4,691,000 股，根据《公司法》等相关规定，该部分已回购股份不参与 本次权益分派。本次权益分派以公司现有总股本 2,676,782,376 股剔除公司回购专 户持有股份 4,691,000 股后的 2,672,091,376 股为基数，向全体股东每 10 股派发现 金股利 0.14 元（含税），合计派发现金股利 37,409,279.26 元，送红股 0 股（含 税），以资本公积金向全体股东每 10 股转增 0 股，剩余未分配利润结转下一年 度。 2、本次利润分配实施完成后，公司将按照总股本（含回购股份）折算的每 10 股现金分红的比例计算除权除息参考价格：按公司总股本（含回购股份）折算每 10 股现金分红金额=37,409,279.26 元÷2,676,782,376 股× ...