军工ETF（512660）盘中涨超1.5%，行业发展为三轮驱动新发展格局

Group 1 - The core viewpoint is that China's military industry has evolved from relying solely on domestic demand to a new development pattern driven by three engines: domestic demand, foreign trade expansion, and civilian-military integration [1] - The first curve focuses on domestic military demand, emphasizing "preparation for combat" and equipment modernization, supported by stable growth in defense budgets and equipment upgrades [1] - The second curve represents military trade expansion, where China's military trade share continues to rise due to cost-effectiveness, systematic combat capabilities, and geopolitical strategic cooperation [1] - The third curve illustrates the civilian application of military technology, leading to the emergence of new trillion-level industries such as commercial aerospace, low-altitude economy, future energy, deep-sea technology, and large aircraft [1] Group 2 - The military ETF (512660) tracks the CSI Military Index (399967), which selects the top ten military groups and representative companies related to the military industry from the Shanghai and Shenzhen markets [2] - The index is biased towards small and mid-cap stocks, with a focus on aerospace equipment and military electronics, covering various military fields such as aerospace, weaponry, and military electronics [2]