主题活跃+业绩提振，军工资产迎价值重估！

Group 1 - The military industry sector has seen a significant increase, with the defense and military index rising by 4.80% in a single day, ranking first among all Shenwan primary industries [1] - Since the May Day holiday, the military theme has continued to strengthen, with the defense and military index accumulating a rise of over 11% in just a few trading days [1] - The recent strong performance of the military sector is primarily driven by event-driven market dynamics, particularly due to the India-Pakistan air conflict, rather than fundamental factors [1] Group 2 - There is a notable improvement in the performance of military listed companies, with 25 military stocks reporting a year-on-year net profit growth of over 100% in the first quarter of 2025 [1] - The military industry has entered a new round of prosperity, with a significant recovery in orders observed after the Spring Festival, and further acceleration in orders noted in March [1] - Recent favorable policies have increased market attention on the military sector, including substantial progress in Sino-U.S. economic and trade talks and a reduction in the reserve requirement ratio by the central bank [1] Group 3 - The recent strength of the military sector reflects a renewed market perception of its prosperity, driven by both high certainty in domestic demand and expansive external demand [2] - Despite the inherent volatility of the military sector, it is in an upward trend of prosperity that is expected to last for a considerable time, presenting opportunities for companies to grow stronger [2] - Companies in the mid-to-upstream segment with improved orders and performance are likely to experience a valuation shift, warranting close attention [2]