AVIC SAC(SH:600760) Ge Long Hui·2025-06-13 07:42Group 1: Geopolitical Tensions and Market Reactions - Israel launched airstrikes against Iran, involving 200 fighter jets, in response to over 100 drones fired by Iran towards Israel, escalating geopolitical tensions in the Middle East [4] - Following the airstrikes, aerospace stocks surged, with companies like Morningstar Aviation and AVIC Shenyang Aircraft Corporation hitting the daily limit up [1][4] - Multiple aerospace-related ETFs saw significant increases, with Wanji Fund Aerospace ETF rising by 2.04%, and other funds like Fuguo Fund Military Leaders ETF and Huaxia Fund Aerospace ETF increasing by 1.92% and 1.89% respectively [1][2] Group 2: Drone Warfare and Military Technology - The role of drones in warfare is evolving, transitioning from auxiliary equipment to primary battlefield assets, as evidenced by their effectiveness in the Russia-Ukraine conflict [4] - Russian President Putin announced the formation of unmanned systems units to enhance the deployment and development of drones, highlighting their capabilities in various military operations [4] - The demand for drones is expected to rise, alongside the need for counter-drone technologies, as military conflicts increasingly rely on unmanned aerial vehicles [6][7] Group 3: Investment Opportunities in Aerospace and Defense - The aerospace sector is divided into three main areas: aerospace manufacturing, civil aviation, and military aviation, with significant investment opportunities emerging in the low-altitude economy [8] - The National Postal Bureau of China is promoting the development of delivery drones, indicating a growing trend in the low-altitude economy [7] - The National Aerospace Index has a high concentration in the defense and military sector, with 99.17% of its composition, while the General Aviation Index includes a mix of defense, computer, and other sectors [9][10] Group 4: ETF Performance and Composition - The top ten holdings in the National Aerospace Index include leading companies in the military sector, such as Guangqi Technology and AVIC Shenyang Aircraft Corporation, with a combined weight of 52.51% [12][15] - The largest ETF tracking the General Aviation Index is the Yongying Fund General Aviation ETF, with a scale of 884 million yuan, while the largest ETF for the National Aerospace Index is the Huaxia Fund Aerospace ETF, with a scale of 223 million yuan [17]