第三曲线军用技术民用化（新边界）：尖端军工技术向民用领域溢出，催生商业航天、低空经济、未来能源等万亿级新产业，形成"军技民 用，反哺军工"的良性循环。 【八一军工，大展宏图】代码含"八一"的军工ETF华宝（512810）（原国防军工ETF）：兼顾传统主战力量+新域新质力量，覆盖『商业航天 +深海科技+军用AI+低空经济+大飞机』等诸多热门题材，同时是融资融券标的+互联互通标的，是一键布局国防军工板块的高效投资工具。 中信建投证券表示，中国军工产业已从过去依赖国内单一需求的模式，演进为三轮驱动的新发展格局，增长动能更加多元和可持续。"内需筑 基、外贸扩张、民用反哺"的格局正在深刻重塑我国军工产业的面貌和边界。行业从"周期成长"转向"全面成长"。 第一曲线国内军工需求（基本盘）：聚焦"备战打仗"和装备现代化，需求来自国防预算稳定增长及装备升级换代。 第二曲线军贸出海（新引擎）：凭借性价比优势、体系化作战能力和地缘战略合作，中国军贸份额持续提升，成为全球重要供应方。 12月22日早盘，军工板块表现活跃，商业航天概念股再度领涨，高德红外、北斗星通双双涨停，中国卫星涨近8%。热门ETF方面，高人气军工 ETF华宝（51 ...

12月19日，商业航天概念继续躁，军工板块再度领市上涨！ 高人气军工核心标的——军工ETF华宝（512810）快速冲上2%，价格创近3个月新高！ 商业航天相关成份股领涨，航天智装一度暴拉逾10%，中国卫星涨超8%，铂力特、中科星图、臻镭科技3股股价续创历史新高！ 就配置工具而言，认准代码有"八一"的军工ETF华宝（512810）（原国防军工ETF）。该ETF覆盖『商业航天 +可控核聚变+ 低空经济+ 大飞机 + 深海科技 + 军用AI』等诸多热门主题，同时是融资融券+互联互通标的，是一键投资军工核心资产的高效工具。 数据来源：沪深交易所等。 风险提示：军工ETF华宝被动跟踪中证军工指数，该指数基日为2004.12.31，发布于2013.12.26。文中提及个股仅为指数成份股客观展示列举， 不作为任何个股推荐，不代表基金管理人和基金投资方向。任何在本文出现的信息（包括但不限于个股、评论、预测、图表、指标、理论、任 何形式的表述等）均只作为参考，投资人须对任何自主决定的投资行为负责。另，本文中的任何观点、分析及预测不构成对阅读者任何形式的 投资建议，本公司亦不对因使用本文内容所引发的直接或间接损失负任何责任。投资 ...

12月19日，商业航天概念继续躁，军工板块再度领市上涨！ | 代码 | 名称 | 现价 | 涨跌幅 | 主力净流入额 | | --- | --- | --- | --- | --- | | 801740 | 国防军工(申万) | 1823.19 | 1.98% | 36.82 Z | | 801770 | 通信(申万) | 5408.02 | 1.53% | 5.50 7, | | 801880 | 汽车(申万) | 7635.68 | 1.23% | 36.50亿 | 高人气军工核心标的——军工ETF华宝（512810）快速冲上2%，价格创近3个月新高！ 商业航天相关成份股领涨，航天智装一度暴拉逾10%，中国卫星涨超8%，铂力特、中科星图、臻镭科 技3股股价续创历史新高！ | | | 分时 多日 1分 5分 15分 30分 60分 · | | | | | F9 盘前盘后 强加 九转 画线 工具 3 2 > | | 军工ETF华宣 ① | | 512810 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | ...

"军技民用"开启万亿赛道，商业航天今日（12月18日）再爆发，带动军工板块领市上涨，相关核心 ETF"512810" 午后涨幅一度冲上2%，价格触及近3个月高点！场内最终收涨0.98%成功连阳，全天振幅 超3%，放量成交8017万元。 商业航天相关成份股强势领涨，奥普光电一字板！铂力特涨13.67%，中科星图涨10.79%，两股齐创历 史新高。此外，国博电子、臻镭科技、上海瀚讯、航天电子盘中股价集体创历史新高。 技术面上看，"512810"多头信号强烈！MACD金叉已现，DIF、DEA由下向上穿越零轴，显示市场可能 由空转多，同期红柱逐日伸长，意味着趋势动能增强。 资金面上，主力热情高涨，大举"扫货"！国防军工行业主力净流入95.6亿元，在31个申万一级行业中高 居断层首位，领先第二位银行近40亿元！近5日维度，国防军工主力净流入额超200亿元。 风险提示：国防军工ETF被动跟踪中证军工指数，该指数基日为2004.12.31，发布于2013.12.26。文中提 及个股仅为指数成份股客观展示列举，不作为任何个股推荐，不代表基金管理人和基金投资方向。任何 在本文出现的信息（包括但不限于个股、评论、预测、图表、指标 ...

军工ETF（512660）跟踪的是中证军工指数（399967），该指数从沪深市场中选取涉及航空、航天、船 舶等军工领域的上市公司证券作为指数样本，主要涵盖十大军工集团控股的上市公司，以反映中国军工 行业相关上市公司证券的整体表现。行业配置以航空装备和军工电子为主，充分体现军工行业的成长性 和景气度。 （文章来源：每日经济新闻） 东方财富证券指出，新质战斗力与生产力正成为大军工板块极具弹性的增长极，重点关注商业航天、无 人装备、军用AI等细分领域。"加快先进战斗力建设"位列推进"十五五"时期国防和军队现代化重点任务 之首，军用AI、无人装备等新兴技术对国防军事领域变革将是颠覆性的，商业航天、低空经济、核聚 变等大军工板块产业进入快速发展期，其规模化应用和资本化加速，带动相关产业链公司业务快速增 长。 ...

Group 1: Market Overview - The defense and military industry sector experienced fluctuations, with commercial aerospace stocks showing mixed performance, as Aerospace Intelligence and Aerospace Technology both fell over 5%, while Aerospace Electronics reached a new historical high [1] - The high-profile defense and military ETF (512810) briefly dipped below the 10-day moving average, but the market premium rose against the trend, indicating strong buying interest [1] Group 2: Company Developments - AVIC Chengfei, a subsidiary of AVIC, plans to acquire over 200 acres of industrial land near Wenjiang Airport for project development, with a total investment of approximately 1 billion yuan [1] - The company also intends to implement a space equipment assembly base construction project, with an estimated investment of around 422 million yuan [1] Group 3: ETF Adjustments - The defense military ETF (512810) underwent its second rebalancing for the index tracking the China Securities Military Industry Index, effective December 15, 2025, with 5 stocks added and 4 stocks removed, resulting in a total of 80 constituent stocks [3][4] - The newly added stocks have a combined market capitalization exceeding 72.4 billion yuan, enhancing the index's leading attributes [4] Group 4: Stock Performance - AVIC Chengfei led the market with a rise of over 5%, reaching a market capitalization of 206.3 billion yuan [2] - The removed stocks from the ETF had a combined weight of 1.23%, suggesting a minimal impact on the overall index [4]

Core Viewpoint - The defense and aerospace sector is experiencing fluctuations, with mixed performance among commercial aerospace stocks, while the defense ETF shows signs of strong buying interest despite some declines in individual stocks [1][8]. Group 1: Market Performance - The defense and aerospace sector saw underwater fluctuations, with stocks like Aerospace Intelligence and Aerospace Technology dropping over 5%, while Aerospace Electronics reached a historical high [1][8]. - The market capitalization leader, AVIC Chengfei, led the gains with an increase of over 5% [1][8]. - The high-profile defense ETF (512810) briefly fell below its 10-day moving average but showed a reverse increase in market premium, indicating strong buying interest [1][8]. Group 2: Company Developments - AVIC Chengfei's wholly-owned subsidiary plans to acquire over 200 acres of industrial land near Wenjiang Airport for project development, with a total planned investment of approximately 1 billion yuan [1][8]. - The company also intends to implement a space equipment assembly base project with an estimated investment of about 422 million yuan [1][8]. Group 3: ETF Adjustments - The defense ETF (512810) underwent its second adjustment for the index tracking the China Securities Military Industry Index, effective December 15, 2025, with 5 new stocks added and 4 removed, resulting in a total of 80 constituent stocks [3][10]. - Newly included stocks have a combined market capitalization exceeding 72.4 billion yuan, enhancing the index's leading attributes [4][10]. - The removed stocks had a combined weight of 1.23%, suggesting minimal impact on the overall index [4][10].

12月15日，大市缩量调整，国防军工热度不减，商业航天、卫星互联网、大飞机、军工信息化等题材反 复活跃。高人气国防军工ETF（512810）盘中上探1.54%创2个月新高，场内放量收涨0.98%，成交8028 万元，12月以来日K呈显著向上趋势。 国防军工ETF（512810）覆盖海陆空天军工核心资产，热门概念股逆市爆发，新进成份股臻镭科技飙升 12.07%创历史新高，航天电子涨停再创新高，抚顺特钢涨停，此外，上海瀚讯、应流股份盘中均创历 史新高。 主力资金火速行动，集中追捧军工核心资产，今日国防军工行业主力净流入61.81亿元，在31个申万一 级行业中高居首位，近5日累计吸金197.78亿元，同样高居第一。 新纳入成份股：臻镭科技、旭光电子、海兰信、利君股份、航天南湖。 剔除成份股：西部材料、江航装备、北摩高科、国科天成。 从权重占比来看，剔除的4只成份股权重占比合计1.23%，对指数整体影响可能较小。市值维度，新成 员均为百亿以上市值，总市值合计超724亿元，增量逾300亿元，有望进一步增强指数龙头属性。 | | | | | | 国防军工ETF (512810) 标的指数2025年第二次调仓 (12月15 ...

国防军工热度居高不下！12月12日，商业航天、可控核聚变、超导等多题材联袂带动，高人气国防军工 ETF（512810）收盘价再创逾1个月新高，相关成份股表现尤为亮眼，西部材料6天4板再创新高，应流 股份、航天发展亦创历史新高，四川九洲尾盘封板。 | 序号 | 什么样 | 名称 | 估算权重 | 现价 | 涨跌幅 ▼ | 成交额 | | --- | --- | --- | --- | --- | --- | --- | | 1 | 002149 | 西部材料 | 0.56% | 28.93 | 10.00% | 45.43 Z | | 2 | 000801 | 四川九洲 | 0.69% | 17.85 | 9.98% | 22.58亿 | | 3 | 688122 | 西部超导 | 2.00% | 75.51 | 7.18% | 32.95亿 | | 4 | 600363 | 联创光电 | 1.59% | 60.06 | 7.06% | 13.44亿 | | ਦੇ | 688375 | 国博电子 | 0.00% | 76.80 | 6.09% | 11.74亿 | | 6 | 603308 | 应流股份 | 1 ...

Core Viewpoint - The defense and military industry is experiencing a significant surge, driven by themes such as commercial aerospace, controllable nuclear fusion, and superconductivity, leading to a new high for the popular defense military ETF (512810) [1][7]. Group 1: ETF Performance - The defense military ETF (512810) closed at a new high, marking a 2.59% increase over the week, significantly outperforming the Shanghai Composite Index (-0.34%) and the CSI 300 Index (-0.08%) [2][8]. - The ETF has achieved three consecutive weeks of gains, with a total trading volume of 409 million yuan for the week, indicating a substantial increase in trading activity compared to the previous week [2][8]. Group 2: Stock Performance - Notable stocks within the ETF include: - Western Materials (002149) with a 10.00% increase, closing at 28.93 yuan and a trading volume of 454.3 million yuan [2][8]. - Sichuan Jiuzhou (000801) rose by 9.98%, closing at 17.85 yuan with a trading volume of 2.258 billion yuan [2][8]. - Aerospace Development (000547) increased by 5.23%, closing at 21.31 yuan with a trading volume of 10.752 billion yuan [2][8]. Group 3: Industry Trends - The defense and military sector is witnessing a rebound from previous lows, primarily driven by the accelerated development of new domains and technologies, including commercial aerospace and future energy [4][10]. - The industry is evolving from a reliance on domestic demand to a new development model characterized by three driving forces: domestic demand foundation, foreign trade expansion, and civilian-military integration [4][10]. - Analysts predict that the military industry will stabilize and improve, with a potential resurgence in demand expected in 2025, coinciding with the start of the new five-year plan in 2026 [4][10]. Group 4: Investment Opportunities - The defense military ETF (512810) serves as an efficient investment tool, covering various hot themes such as commercial aerospace, controllable nuclear fusion, and military AI, making it a one-click investment option for core assets in the defense sector [5][11].