GUOTAI HAITONG SECURITIES·2025-09-03 12:21Investment Rating - The report assigns an "Accumulate" rating for the military industry, indicating a potential increase of over 15% relative to the CSI 300 index [4][11]. Core Insights - The 80th anniversary of the victory in the Anti-Japanese War was marked by a grand ceremony in Beijing, showcasing various new military equipment, reflecting China's military technology innovation and strategic deterrence capabilities, highlighting the high prosperity of the military industry [2][4]. - The military parade featured a comprehensive display of the military's restructured force composition, including both traditional and new combat capabilities, emphasizing the integration of advanced technologies such as unmanned systems and hypersonic weapons [4]. - The military industry is expected to maintain high prosperity due to increasing defense spending driven by regional tensions and the need for modernization, particularly in the context of the 100th anniversary of the military's establishment by 2027 [4]. Summary by Sections Event Overview - The military parade included foot formations, equipment displays, and aerial formations, showcasing the systematic achievements of domestic military equipment across land, sea, air, and space [4]. - New models such as the Type 191 long-range box rocket launcher and various advanced missiles were prominently featured, demonstrating the military's capabilities and innovation [4]. Industry Outlook - The demand for military equipment is highly certain, with accelerated reforms expected to sustain high prosperity in the industry [4]. - The report anticipates a long-term positive trend in military equipment construction, with a focus on eliminating outdated equipment and enhancing high-tech capabilities [4]. Recommended Stocks - The report recommends stocks such as AVIC Shenyang Aircraft Company, AVIC Xi'an Aircraft Industry Group, and others, all rated as "Accumulate" [5].