军工ETF（512660）涨超2.5%，地缘冲突不断，军工板块行情持续活跃

Group 1 - The military industry sector is currently leading the market, with the military ETF (512660) rising over 2.5% [1] - The sector is experiencing heightened activity due to ongoing geopolitical conflicts and the upcoming Zhuhai Airshow, which will showcase new products and technologies in the global aviation and low-altitude economy [1] - In Q3 2025, the military sector achieved a quarterly revenue of 196.53 billion yuan, a year-on-year increase of 60.3%, and a net profit of 10.69 billion yuan, up 88.8% year-on-year [1] - The gross profit margin and net profit margin for the quarter were 16.70% and 5.44%, respectively, with year-on-year changes of -3.31 percentage points and +0.81 percentage points [1] - The fundamentals of the military industry are stabilizing, with potential turning points emerging [1] - Future growth is expected to be driven by the "14th Five-Year Plan" recommendations and the century-long goal of strengthening the military, alongside accelerated military trade exports and active hotspots in low-altitude economy and commercial aerospace [1] Group 2 - The military ETF (512660) tracks the CSI Military Index, covering high-quality stocks in the military industry and representing the overall performance of the sector [2] - Key sectors within the index include aviation equipment, military electronics, and naval equipment, which hold significant weight in the index [2] Group 3 - Compared to similar indices, the CSI Military Index has demonstrated strong defensive characteristics, with the smallest declines during weak market conditions in 2018, 2022, and 2023, particularly notable in 2023 [3] - The index has shown strong offensive performance, ranking first in returns among peers in 2024, and has also performed well during bull markets in 2019 and 2020, with significant gains close to military leaders and the CSI Defense Index [3]