国防军工行业：行业将迎来新一轮投资机遇-新修《军队装备科研条例》发布，军工央企重组启动

Investment Rating - The industry investment rating is upgraded to "Overweight" for the first time [4] Core Insights - The newly revised "Military Equipment Research Regulations" aims to promote high-quality development in military equipment research, featuring five key characteristics: process reengineering, modernization of management requirements, optimization of project approval, systematic quality and price control, and a comprehensive supervisory framework [4] - The successful maiden flight of the Long March 8 modified rocket enhances China's competitiveness in the low Earth orbit sector, with a payload capacity of 7 tons to a 700 km sun-synchronous orbit, indicating improved satellite internet capabilities [4] - The restructuring of military state-owned enterprises, including the Weaponry Equipment Group, is expected to create new investment opportunities in the military industry, supported by national policy [4] Summary by Sections Recent Industry Performance - The industry has shown relative returns of -0.65% over the past month, -5.72% over the past three months, and a positive 7.87% over the past year compared to the CSI 300 index [2] Key Events - The release of the new military equipment research regulations and the successful launch of the Long March 8 modified rocket are significant developments in the defense and aerospace sectors [3][4] Investment Recommendations - Future prospects for the military industry are promising due to the implementation of the new regulations, advancements in information technology, and ongoing restructuring of military state-owned enterprises [4]