2025年将是低空经济规模化落地元年，高端装备ETF(159638)有望受益

Core Viewpoint - The year 2025 is projected to be the year of large-scale implementation of the low-altitude economy, with high-end equipment ETFs (159638) expected to benefit significantly from this trend [1][4]. Group 1: Market Performance - As of March 26, 2025, the CSI High-end Equipment Sub-index has risen by 0.42%, with notable increases in constituent stocks such as Zhenhua Technology (up 4.82%) and Hangjin Technology (up 3.96%) [1]. - The high-end equipment ETF (159638) has seen a rise of 0.38%, with a trading volume reaching 24.64 million yuan [1]. Group 2: Fund Flow and Investment - The latest scale of the high-end equipment ETF has reached 1.139 billion yuan, with a net inflow of 3.171 million yuan [3]. - Over the past five trading days, there have been net inflows on four days, totaling 24.08 million yuan [3]. - Leveraged funds are actively investing, with the latest margin buying amounting to 2.321 million yuan and a margin balance of 31.896 million yuan [3]. Group 3: Industry Outlook - The high-end equipment ETF closely tracks the CSI High-end Equipment Sub-index, focusing on leading companies in aerospace, military equipment, and satellite navigation, which are expected to benefit from the low-altitude economy boom [3]. - According to Zhejiang Securities, various provincial low-altitude economic development plans and support measures are being rolled out in 2024, with 2025 anticipated to be a pivotal year for large-scale application of new technologies and products in this sector [4]. - The low-altitude economy is expected to play a significant role in macroeconomic recovery and has strategic importance in the competition between emerging industries in China and abroad [4].