军工板块展现韧性，跑赢大盘

Investment Rating - The industry investment rating is "Leading the Market - A" and the rating is maintained [6]. Core Viewpoints - The defense and military industry has shown resilience, outperforming the broader market indices. The Shenyuan Defense Military Index increased by 2.80%, while the Shanghai Composite Index decreased by 0.34% during the same period [1][15]. - The report highlights significant individual stock performances, with top gainers including Xibu Materials (+40.98%) and Zhongci Electronics (+40.65%) [2][19]. - Key announcements from companies in the sector include expected daily related transactions by AVIC Xi'an Aircraft Industry Group totaling approximately CNY 23.04 billion for 2026 [3][21]. Summary by Sections 1. Industry Performance Review - The Shenyuan Defense Military Index rose to 1,785.95 points, marking a 2.80% increase from the previous week. In contrast, the Shanghai Composite Index fell to 3,889.35 points, a decrease of 0.34% [1][15]. - The defense military sector ranked 2nd among 31 sectors in terms of performance during this period [15][16]. 2. Stock Performance - The top ten performing stocks in the defense military sector for the week included Xibu Materials (+40.98%) and Zhongci Electronics (+40.65%), while the bottom performers included ST Aowei (-16.09%) and ST Wanfang (-10.20%) [2][19][20]. 3. Key Company Announcements - AVIC Xi'an Aircraft Industry Group announced expected related transactions totaling CNY 23.04 billion for 2026 [3][21]. - Super卓航科 released a draft for a restricted stock incentive plan, proposing to grant 330,000 shares to 11 individuals, representing 0.37% of the company's total share capital [3][21]. -航宇科技 issued a technology innovation bond with a total issuance amount of CNY 100 million [3][21]. 4. Industry News - The report includes significant industry news such as the first inclusion of the KJ-500A in the Sino-Russian joint air force strategic patrols [11][22]. - Germany plans to deploy long-range firepower in 2026, including advanced missile systems, as part of an agreement with the United States [11][22].