航天强国纳入顶层设计，航空航天ETF（159227）回调迎布局机会，资金已连续12日净流入

Core Insights - The A-share market experienced a collective pullback on November 4, with the Aerospace ETF (159227) narrowing its decline to 1.56% by the end of the trading day, achieving a transaction volume of 140 million yuan [1] - The Aerospace ETF has seen a continuous net inflow of funds for 12 consecutive days, totaling 476 million yuan, with its latest scale surpassing 1.781 billion yuan, marking a new high since its listing and making it the largest aerospace-themed ETF in the market [1] - The Fourth Plenary Session of the 19th Central Committee has included "building a strong aerospace nation" in the 14th Five-Year Plan, highlighting the government's emphasis on the aerospace sector [1] Industry Developments - The recent policy direction aims to foster emerging industries, including aerospace, new energy, new materials, and low-altitude economy, indicating a strategic focus on developing these sectors [1] - According to CITIC Securities, the inclusion of "strong aerospace nation" in the recent communiqué reflects the government's high regard for the aerospace industry, which is now entering a rapid development phase [1] - The commercial aerospace sector is poised for a new era with the mass launch phase of China Star Network and the G60 Thousand Sails Constellation, alongside the operationalization of Hainan's commercial launch site and commercial launch vehicles, indicating a trend towards high capacity and low cost [1] ETF Composition - The Aerospace ETF closely tracks the Guozheng Aerospace Index, covering key segments of the aerospace supply chain, including aerospace equipment, satellite navigation, and new materials [2] - The constituent stocks of the ETF encompass emerging fields such as large aircraft manufacturing, low-altitude economy, and commercial aerospace [2]