CATEC(SH:600879) Sou Hu Cai Jing·2025-12-23 06:19Group 1 - The Long March 12A rocket successfully completed its maiden flight on December 23, achieving the secondary stage orbit goal, but the first stage recovery verification did not meet expectations [1] - Following the news, the secondary market reacted with mixed responses, leading to significant declines in commercial aerospace stocks, with Shanghai Hanxun dropping over 10% and China Satellite Communications and Aerospace Electronics falling over 9% [1] - The high-profile military ETF, Huabao (512810), which passively tracks the CSI Military Industry Index, saw a decline of 1.64% after reaching a peak of four consecutive gains, with real-time transactions exceeding 49 million yuan [1] Group 2 - Analysts suggest that the market should be viewed with a focus on a fluctuating structure, highlighting potential low-buy opportunities during the adjustment of popular themes [3] - The military industry is expected to benefit from multiple policies and strategic catalysts, including the 14th Five-Year Plan and the centenary of the military, with growth in both domestic and foreign demand anticipated between 2026 and 2027 [3] - Emerging themes such as commercial aerospace, AI intelligence, nuclear fusion, deep-sea technology, and unmanned systems are expected to drive the military industry towards high-end and intelligent development [3]