军工ETF（512660）收跌超1%，行业中长期驱动逻辑强，回调或可布局

Group 1 - The military industry ETF (512660) experienced a decline of over 1% on January 28, indicating a potential opportunity for investment during the pullback, as the long-term driving logic of the industry remains strong [1] - The China military industry has evolved from relying solely on domestic demand to a new development pattern characterized by "domestic demand foundation, foreign trade expansion, and civilian backfeeding," leading to more diversified and sustainable growth [1] - The first growth curve focuses on domestic demand, driven by stable growth in defense budgets and equipment modernization, emphasizing high-precision deterrence and systematic unmanned low-cost capabilities [1] Group 2 - The second growth curve is military trade expansion, where China's military trade share continues to rise due to its cost-effectiveness, systematic combat capabilities, and geopolitical strategic cooperation, establishing China as a significant global supplier [1] - The third growth curve involves the civilian application of military technology, where cutting-edge technologies spill over into civilian sectors, creating new trillion-level industries such as commercial aerospace, low-altitude economy, future energy, deep-sea technology, and large aircraft, fostering a virtuous cycle of "military technology for civilian use, backfeeding military industry" [1] - The military industry ETF tracks the CSI Military Industry Index (399967), which focuses on publicly listed companies primarily controlled by the top ten military groups and other representative companies related to the military industry, covering various fields such as aviation, aerospace, shipbuilding, weaponry, military electronics, and satellites [2]