军工早参|天舟九号开启太空征程，重要会议今日召开

Core Viewpoint - The military industry is expected to experience a turning point in orders as the "centenary goal of military building" enters its second half, with new technologies and products driving market directions and potential growth [4]. Group 1: Market Performance - On July 15, the three major indices showed mixed results, with the Shanghai Composite Index down 0.42%, while the Shenzhen Component Index rose by 0.56% and the ChiNext Index increased by 1.73% [1]. - The aerospace sector experienced a short-term correction, with the National Aerospace Index declining by 0.70%, where 11 stocks rose and 39 fell [1]. - The Aviation and Aerospace ETF (159227) fell by 0.82%, closing at 1.091 yuan, with a trading volume of 99.83 million yuan and a total scale of 570 million yuan, ranking first among ETFs [1]. Group 2: Industry Events - The 12th Aviation Power and Gas Turbine Conference is scheduled to take place in Shanghai from July 16 to 18 [2]. - The Tianzhou-9 cargo spacecraft successfully completed its launch on July 15, marking a significant achievement in China's space endeavors [2]. - Uzbekistan is reportedly finalizing a deal to purchase the JF-17 "Thunder" fighter jets, which would make it the fourth export customer for this aircraft, enhancing China's military trade system [2]. - A space-themed park is set to be constructed in Shanghai, integrating aerospace technology with cultural tourism [2]. Group 3: Institutional Insights - Zhongyou Securities anticipates that the military industry will see a turning point in orders, driven by new technologies and market directions [4]. - Northeast Securities notes that the military industry is experiencing a recovery in downstream demand, with clear long-term goals set for 2035 and 2050, indicating a positive outlook for the defense sector [4]. Group 4: Related Products - The Aviation and Aerospace ETF (159227) closely tracks the National Aerospace Index, focusing on core military aerospace sectors, with a high concentration of 98.2% in the primary military industry [5]. - The ETF is considered an efficient tool for investing in leading "fighter jet stocks," with a significant weight of 66.5% in aerospace equipment within its constituent stocks [5].