“九天”无人机母舰首飞露锋芒，高价值军工配置铸就国防底气

Core Viewpoint - The military industry is experiencing a phase of adjustment, with significant capital inflow into the aerospace sector, particularly the Aerospace ETF (159227), which has seen continuous net inflow for 13 trading days, totaling over 300 million yuan [1][2]. Group 1: Market Performance - On July 14, the three major indices showed mixed results, with the Shanghai Composite Index rising by 0.27%, while the Shenzhen Component Index and the ChiNext Index fell by 0.11% and 0.45%, respectively [1]. - The Aerospace ETF (159227) closed at 1.100 yuan with a trading volume of 72.94 million yuan, and its latest scale reached 570 million yuan, ranking first among popular ETFs [1]. Group 2: Key Developments - The China Eastern Military Industry team publicly showcased the maiden flight of the "Jiutian" drone carrier, which has a wingspan of 25 meters and a payload of 6 tons, capable of carrying 300 "Xuanbird" suicide drones for saturation attacks [2]. - The Chinese Ministry of Defense announced the first Youth Leaders Conference of the China-Africa Peace and Security Forum, set to take place in Nanjing from July 15 to 19, with participation from nearly 90 mid-level military officers from over 40 African countries [2]. - The U.S. Secretary of Defense signed a memorandum on July 10 to comprehensively reform the military drone strategy, aiming for the U.S. to dominate the small drone sector by 2027 [2]. Group 3: Institutional Insights - Huafu Securities indicated that from 2025 to 2027, driven by multiple catalysts such as the "14th Five-Year Plan" and the "Centenary Goals of the Army," both domestic and foreign demand in the military industry are expected to grow significantly, making military development a key focus for the future [3]. Group 4: Related Products - The Aerospace ETF (159227) tracks the National Aerospace Index, which has a strong military attribute, with the military industry accounting for 98.2% of its composition, and aerospace equipment holding a weight of 66.5%, significantly higher than other military indices [4].