国防ETF(512670)涨1.22%正式突破前高，军工多细分方向仍处于低位

Group 1: Market Trends - In the early trading session, major funds saw net inflows in sectors such as defense, non-bank financials, and electronics, while there were net outflows in computer, non-ferrous metals, and machinery sectors, with the computer sector experiencing a net outflow exceeding 5.3 billion [1] - As of July 28, the Defense ETF (512670.SH) rose by 1.22%, and its associated index, the China Defense Index (399973.SZ), increased by 1.42% [1] Group 2: Military Equipment Developments - On July 21, the China Weapon Industry Group conducted a demonstration of unmanned and counter-unmanned combat systems, showcasing new combat capabilities in the unmanned domain [2] - Unmanned systems, particularly loitering munitions, are expected to play a crucial role in future combat, offering low-cost advantages and high lethality against valuable targets [2] Group 3: Investment Insights - In Q2 2025, active funds increased their allocation to military industry stocks, with an overweight increase of 0.35 percentage points from Q1, indicating a growing interest in military trade and new combat capabilities [3] - The military trade sector is anticipated to become a second growth driver, with significant performance potential in the context of recovering market conditions [3] - Key stocks in the military sector include AVIC Shenyang Aircraft Company, Guorui Technology, and Inner Mongolia First Machinery Group, among others, which are expected to benefit from increased demand and investment [3][4]