航空航天ETF（159227）跟踪国证航天指数，申万一级军工行业占比高达98.2%，是全市场军工含量最 高的指数，聚焦军工细分空天力量，成分股覆盖战斗机、运输机、直升机、航空发动机、导弹、卫星、 雷达等全产业链龙头，完美契合"空天一体"的战略方向。 （文章来源：每日经济新闻） 10月10日，A股三大指数集体调整，创业板指跌幅领先，军工板块全天小幅震荡，抗跌明显，截至13点 40分，全市场军工含量最高的航空航天ETF（159227）跌幅0.42%，成交额达1.08亿元，稳居同类第 一，持仓股长城军工涨停，建设工业、内蒙一机、北摩高科、中航成飞、中国海防、中兵红箭等股涨幅 居前。航空航天ETF最新规模达13.75亿元，创成立以来新高，为全市场规模最大的空天国防类ETF。 浙商证券认为，2025年是十四五收官之年，93大阅兵展出多款先进设备+福建舰成功弹射三型舰载机， 国防装备现代化建设将步入加速期。此外随着扰动因素逐步消除、订单落地预期增强，结合三四季度往 往是国防军工产品交付的集中期，我们预计2025Q3部分重点企业业绩有望回暖。此外，2025年地缘政 治冲突不断，我国军贸出口装备在海外冲突中得到实战检验。我们 ...

Core Viewpoint - The aerospace and defense sector is currently experiencing a favorable upward trend with limited downside risk, supported by the gradual recovery of order payments and the anticipation of new orders as the "14th Five-Year Plan" concludes and the "15th Five-Year Plan" begins [1][2]. Group 1: Market Performance - As of October 10, 2025, the CN5082 aerospace and defense industry index shows mixed performance among constituent stocks, with Changcheng Military Industry leading at a 7.20% increase, followed by Beimo Gaoke at 3.95% and Neimeng Yiji at 3.90% [1]. - The Aerospace and Defense ETF (159227) is priced at 1.19 yuan, with its latest scale reaching 1.375 billion yuan, marking a new high since its inception [1]. Group 2: Industry Outlook - According to Zhonghang Securities, the military industry sector is in a state of broad upward potential with a solid bottom, although there may be volatility in certain sub-sectors and stocks due to short-term surges [1]. - The expectation of new orders is gradually strengthening, which will further solidify the foundation for the military industry market, with anticipated quarterly improvements in performance [1]. Group 3: ETF Characteristics - The Aerospace and Defense ETF (159227) tracks the CN5082 index and has a high military industry concentration of 97.96%, making it the highest in the market [2]. - The ETF focuses on the aerospace and defense sector, covering key components such as fighter jets, transport aircraft, helicopters, aircraft engines, missiles, satellites, and radar, aligning perfectly with the "integrated aerospace" strategic direction [2].

航空航天ETF（159227）跟踪国证航天指数，申万一级军工行业占比高达97.96%，是全市场军工含量最 高的指数，聚焦军工细分空天力量，成分股覆盖战斗机、运输机、直升机、航空发动机、导弹、卫星、 雷达等全产业链龙头，完美契合"空天一体"的战略方向。 （文章来源：每日经济新闻） 9月30日午后，A股三大指数出现分化，军工板块全天走强，午后继续拉升。截至14:08，全市场军工含 量最高的航空航天ETF（159227）涨幅3.85%，成交额达1.71亿元，稳居同类第一，持仓股中航沈飞涨 停，国睿科技、华秦科技涨超9%，洪都航空、航天彩虹、北摩高科、航发科技、中航西飞、航发动 力、中航成飞等股跟涨。航空航天ETF最新规模超13亿元，为全市场规模最大的空天国防类ETF。 现代战争中，空中力量的作用日益凸显，使得航空装备成为各国军队建设的重点，行业技术门槛极高， 涉及众多高端技术和复杂工艺，在军工产业链中的价值量占比较高。当前地缘政治冲突持续升级，世界 军费开支持续增长，我国军工企业在无人机、战机、导弹等领域的技术优势凸显，成军贸主要增量，航 空航天板块是核心受益方向。 国泰海通证券表示，全球地缘政治格局加速演变，外贸 ...

9月30日，A股三大指数开盘上涨，军工板块经历前期调整后，近期迎来企稳，今日高开高走。截 至10:32，航空航天ETF（159227）涨幅1.84%，成功站稳20日均线，成交额达8206万元，稳居同类第 一，持仓股华秦科技涨超8%，中航沈飞涨超5%，航发科技、华力创通、国博电子、洪都航空、国科军 工等股跟涨。 东方证券认为，装备需求在较长时间内将保持增长态势，随着"十五五"规划的逐步落地，我国军工 产业将迎来新的发展契机，从上游原材料到下游主机厂商，将推动整个军工产业链在技术创新、装备升 级、产业结构优化等方面取得更大突破；同时中国军贸近年来持续拓展市场，武器装备性价比优势突 出，有望迎来新增长点。 现代战争中，空中力量的作用日益凸显，航空航天ETF（159227）跟踪国证航天指数，申万一级军 工行业占比高达97.96%，是全市场军工含量最高的指数，聚焦军工细分空天力量，成分股覆盖战斗 机、运输机、直升机、航空发动机、导弹、卫星、雷达等全产业链龙头，完美契合"空天一体"的战略方 向。 每日经济新闻 （责任编辑：董萍萍 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立， ...

9月29日，A股三大指数集体上涨，沪指盘中翻红，创业板指领涨，军工板块盘中触底后拉升，截至 10:45，航空航天ETF（159227）跌幅收窄至0.18%，成交额达4991万元，稳居同类第一，持仓股海特高 新、光启技术、上海瀚讯、中航沈飞、国科军工、航新科技等股涨幅居前。 军工作为强计划性行业，五年规划对于行业经营和市场预期有着重要影响，是军工行情的主要驱动因素 之一。2025-2026年随着"十五五"规划编制推进、落地，军工行业未来三到五年的发展指引将逐渐清 晰，伴随新一轮订单周期开启，景气成长属性有望强化，或将推动产业链整体景气度迎来复苏。 东方证券认为，装备需求在较长时间内将保持增长态势，随着"十五五"规划的逐步落地，我国军工产业 将迎来新的发展契机，从上游原材料到下游主机厂商，将推动整个军工产业链在技术创新、装备升级、 产业结构优化等方面取得更大突破；同时中国军贸近年来持续拓展市场，武器装备性价比优势突出，有 望迎来新增长点。 现代战争中，空中力量的作用日益凸显，航空航天ETF（159227）跟踪国证航天指数，申万一级军工行 业占比高达97.96%，是全市场军工含量最高的指数，聚焦军工细分空天力量，成 ...

Core Viewpoint - The A-share market experienced a collective pullback on September 26, but the military industry sector rebounded sharply, particularly the aerospace ETF (159227), which saw a 0.44% increase and a trading volume of 45.7 million yuan, indicating strong market interest in military stocks [1]. Group 1: Market Performance - The aerospace ETF (159227) is the largest in the market, tracking the National Aerospace Index, with a high concentration of military-related stocks, achieving a 97.96% allocation in the primary military industry sector [1]. - Key stocks within the ETF, such as Aerospace Technology, surged over 5%, with other companies like Aero Engine Corporation of China and AVIC Aircraft also showing positive movement [1]. Group 2: Industry Insights - According to Galaxy Securities, during the 14th Five-Year Plan period, the production of main battle equipment and the construction of new combat capabilities are advancing simultaneously [1]. - In the air force sector, the new generation of fighter jets is entering the deployment phase, with major manufacturers like AVIC Shenyang Aircraft Corporation and AVIC Chengdu Aircraft Industry Group collaborating on domestic upgrades [1]. - The ETF focuses on the military sub-sector of aerospace, covering a full industry chain that includes fighter jets, transport aircraft, helicopters, aircraft engines, missiles, satellites, and radar, aligning perfectly with the "aerospace integration" strategic direction [1].

Core Viewpoint - The aerospace and defense sector in the A-share market shows strong performance, particularly in the aerospace ETF, which is the largest in the market and has seen significant trading volume and positive stock performance [1][2]. Group 1: Market Performance - As of September 25, the three major A-share indices showed mixed results, with the technology sector continuing to rise strongly and the military industry experiencing slight upward fluctuations [1]. - The aerospace ETF (159227) turned positive with a trading volume of 90.37 million yuan, leading its category [1]. Group 2: Industry Financials - In Q2 2025, the military industry reported revenues of 164.48 billion yuan, a year-on-year increase of 17.18%, and a net profit attributable to shareholders of 9.93 billion yuan, up 5.21%, marking the first positive growth in seven quarters [1]. Group 3: Future Outlook - Short-term expectations indicate that the military sector is likely to stabilize as the post-"September 3" fund adjustments near completion, and upcoming equipment procurement orders are anticipated to increase [1]. - Mid-term projections suggest a positive outlook for the "14th Five-Year Plan" equipment procurement, with potential order growth expected in Q4, alongside increased military spending from NATO countries [1]. - Long-term perspectives highlight the potential for military trade growth due to regional conflicts and the upcoming centennial of the military establishment in 2027, which may sustain high demand for military equipment [1]. Group 4: ETF Characteristics - The aerospace ETF (159227) tracks the National Aerospace Index and has a high military industry representation of 97.96%, focusing on the aerospace sector and covering a wide range of key components in the military supply chain [2].

Group 1 - The A-share market experienced a collective pullback on September 23, with the aerospace ETF (159227) declining by 2.21% and achieving a trading volume of 93.9 million yuan, making it the largest in its category [1] - The aerospace ETF has reached a new high in size at 1.35 billion yuan, indicating strong market interest and positioning as the largest aerospace ETF [1] - The aerospace sector is increasingly critical in modern warfare, with high technical barriers and significant value within the military industrial chain, particularly in areas like drones, fighter jets, and missiles [1] Group 2 - The aerospace ETF tracks the Guozheng Aerospace Index, with a high concentration of 97.96% in the military industry, focusing on the aerospace segment and covering key components such as fighter jets, transport aircraft, helicopters, and missiles [2] - The sector is expected to benefit from ongoing geopolitical tensions and increasing military expenditures globally, with domestic military enterprises showcasing technological advantages [1][2] - Analysts suggest that the military sector has stabilized recently, with upcoming equipment construction phases and a focus on domestic demand and military trade developments [1]

Group 1 - The A-share market showed mixed performance on September 23, with semiconductor, energy storage, and power battery sectors leading the gains, while the military industry sector opened high but closed lower [1] - The Aerospace ETF (159227) reached a new high of 1.35 billion yuan in total assets, making it the largest aerospace and defense ETF in the market [1] - Recent successful training exercises of China's naval aircraft, including the J-15T, J-35, and KJ-600, on the Fujian aircraft carrier mark a significant breakthrough in the country's aircraft carrier development, potentially boosting short-term sentiment in the military sector [1] Group 2 - China Aviation Securities indicates that the military sector is currently in a state with significant upward potential and a solid bottom, expecting better performance in the second half of the year compared to the first half [1] - The "14th Five-Year Plan" demand is clear under the "big military" new track, with international market developments expanding opportunities [1] - Themes such as low-altitude economy, commercial aerospace, deep-sea technology, large aircraft, and military intelligence are expected to remain active [1][2]

Core Viewpoint - The military industry sector experienced a strong opening on September 19, with the aerospace ETF (159227) leading the market with a 2.06% increase and a trading volume of 55.67 million yuan, indicating robust investor interest in defense-related stocks [1] Group 1: Market Performance - The aerospace ETF (159227) is the largest in the market with a total size of 317 million yuan, reflecting its dominance in the aerospace and defense category [1] - Key stocks such as Guorui Technology and AVIC Shenyang Aircraft Corporation saw significant gains, with Guorui Technology hitting the daily limit and AVIC Shenyang Aircraft rising over 6% [1] Group 2: Industry Developments - The Changchun Airshow opened today, featuring 16 types of aircraft, including the Airborne Early Warning and Control Aircraft (KJ-500) and the H-6 bomber, marking their first display at this event [1] - The increasing importance of air power in modern warfare has made aerospace equipment a focal point for military development, highlighting the high technical barriers and complex processes involved in the industry [1] Group 3: ETF Composition and Strategy - The aerospace ETF (159227) tracks the Guozheng Aerospace Index, with a high concentration of 97.96% in the first-level military industry, making it the ETF with the highest military content in the market [1] - The ETF focuses on the aerospace segment of the military industry, covering leading companies across the entire supply chain, including fighter jets, transport aircraft, helicopters, and missile systems, aligning with the strategic direction of "integrated aerospace" [1]