Core Viewpoint - The military industry sector shows resilience as A-shares decline, with expectations for performance recovery following the release of Q3 reports, leading to increased market attention [1] Group 1: Market Performance - On October 28, A-share indices collectively fell, while the military industry sector rose, indicating its anti-drawdown characteristics [1] - The Aerospace and Defense ETF (159227) has seen a net inflow of funds for eight consecutive days, totaling 282 million yuan, reaching a new high of 1.613 billion yuan in total assets [1] Group 2: Company Performance - AVIC Chengfei (302132) reported Q3 2025 revenue of 27.584 billion yuan, a year-on-year increase of 139.04%, with net profit attributable to shareholders at 1.256 billion yuan, up 169.53% [1] - For the first three quarters, AVIC Chengfei achieved revenue of 48.286 billion yuan, a year-on-year increase of 6.19%, but net profit attributable to shareholders decreased by 35.21% to 2.169 billion yuan [1] Group 3: Industry Outlook - Industrial analysts at Industrial Securities anticipate a favorable Q4 for the defense and military sector, with expectations for improved quarterly performance based on Q3 reports [1] - The upcoming 19th Dubai Airshow in November is expected to enhance the anticipation of high-end equipment orders [1]
中航成飞三季报公布，业绩改善明显，军工行业拐点向上