军工板块午后走低，航空航天ETF天弘（159241）盘中溢价，机构：军工上游进入配置区间

Group 1 - The three major indices showed mixed performance on June 12, with the aerospace and defense sector experiencing a decline in the afternoon, as evidenced by the China Aerospace Index falling by 0.63% [1] - The Tianhong Aerospace ETF (159241) decreased by 0.49%, with a turnover rate of nearly 5% and a premium/discount rate of 0.05%. Notably, stocks like Hangya Technology surged over 6%, while others such as Sichuan Chuangxin Electronics, Guoke Military Industry, and Yaguang Technology also saw gains [1] - The Tianhong Aerospace ETF closely tracks the China Aerospace Index, which is characterized by over 99% weight in the defense and military industry. The core sectors of aerospace and aviation equipment account for 73% of the index, focusing on key areas such as large aircraft manufacturing, low-altitude economy, and commercial aerospace [1] Group 2 - According to Southern Metropolis Daily, China's commercial aerospace sector is accelerating towards industrialization, with disclosed financing exceeding 1 billion RMB in the first five months of this year. This capital influx is not only directed towards rockets and satellites but also significantly into the emerging "low-altitude economy" represented by eVTOL (electric vertical takeoff and landing) vehicles [1] - Dongfang Securities suggests that the military industry upstream is entering a configuration phase, with a focus on military trade and the aviation engine industry chain. The domestic aviation engine sector has made significant progress over the past five years, establishing a complete industrial system and nurturing numerous excellent suppliers, with further deepening of independent innovation expected [2] - Zhongyou Securities emphasizes the urgent need for domestic aviation material localization, which is crucial for the safety of the aviation industry supply chain. The localization will expand from non-critical systems and lower-value components to critical systems and high-value parts [2]