军工板块表现坚挺，盘中小幅回调，航空航天ETF（159227）成交额同类第一

Group 1 - The A-share market experienced slight fluctuations on August 21, with the defense and military industry showing resilience despite a minor pullback. The Aerospace ETF (159227) saw a decline of 0.49% with a transaction volume of 58.92 million yuan, maintaining its position as the top performer in its category. Key holdings such as Hitec Products, AVIC Chengfei, and others showed gains [1] - The military construction plan for the "14th Five-Year Plan" is in a critical phase of capability integration delivery, with an expected acceleration in order demand leading up to 2025. The formulation and implementation of the "15th Five-Year Plan" will provide a clear development blueprint for the military industry over the next three to five years, enhancing growth certainty and industry prosperity [1] - Huafu Securities indicated that the military industry has strong domestic trade attributes, with significant growth expected from 2025 to 2027 due to multiple catalysts, including the "14th Five-Year Plan" tasks and the centenary goal of the military. This sector is less affected by tariffs and is considered a priority for future development amid current international circumstances [1] Group 2 - The Aerospace ETF (159227) tracks the Guozheng Aerospace Index, with a high military industry representation of 97.86%, focusing on the aerospace sector. The index includes leading companies across the entire industry chain, aligning with the strategic direction of "integrated aerospace" [2] - From July 31, 2024, to July 31, 2025, the Guozheng Aerospace Index achieved a return of 37.28%, outperforming the CSI National Defense Index (33.06%), CSI Military Industry Index (30.4%), and Military Leaders Index (26.78%) [2]