PIESAT(SH:688066) Mei Ri Jing Ji Xin Wen·2025-11-28 06:26Core Viewpoint - The A-share market showed a positive trend with all major indices turning red after consolidation, particularly in the energy metals, military electronics, and commercial aerospace sectors, driven by the opening of the 2025 Asia General Aviation Exhibition in Zhuhai, which showcased new low-altitude economic applications and aimed to promote the integration of general aviation and low-altitude economy across the entire industry chain [1]. Group 1: Market Performance - The General Aviation ETF (159230) rose by 1.11%, with key holdings such as Aerospace Hongtu increasing by 6.98% [1]. - The Aerospace ETF (159227) experienced a gain of 0.45% [1]. Group 2: Industry Developments - The 2025 Asia General Aviation Exhibition featured the debut of multiple low-altitude economic application products and initiated the 14th China Innovation and Entrepreneurship Competition focused on the low-altitude economy [1]. - The exhibition provided a platform for showcasing low-altitude solutions in various fields, including transportation, aerial logistics, low-altitude inspections, and emergency rescue [1]. Group 3: Market Insights - According to Haitong International's research report, the global general aviation market demonstrated resilience in the first half of 2025, with aircraft deliveries increasing by 4.3% year-on-year and market size growing by 9.9%, indicating a "stable volume and increasing price" trend [1]. - The market structure is showing differentiation, with steady demand for piston aircraft, and there are optimistic views on leading companies' market share growth, the increasing proportion of high-end models, and investment opportunities arising from new technologies such as electric vertical takeoff and landing (eVTOL) [1]. Group 4: Related Products - The General Aviation ETF (159230) tracks the National General Aviation Industry Index, focusing on low-altitude economy sectors, covering areas such as aviation materials, infrastructure, aircraft manufacturing, operational services, and application scenarios, with a low-altitude economy content of 86.06% [2]. - The Aerospace ETF (159227) closely follows the National Aerospace Index, with a high concentration of 98.2% in the military industry, covering key industry chain segments such as aviation equipment, aerospace equipment, satellite navigation, and new materials, with a significant weight of 54% in the commercial aerospace concept [2].