Group 1 - The A-share market saw a collective rise in the three major indices, with the aerospace ETF (159227) experiencing a significant increase of 1.09% and a trading volume of 23.51 million yuan, leading its category [1] - The aerospace ETF has recorded a net inflow of capital for nine consecutive trading days, totaling 214 million yuan, reaching a new high of 473 million yuan since its listing [1] - The military industry is expected to see accelerated order demand fulfillment as the "14th Five-Year Plan" approaches its conclusion in 2025, providing a clear development blueprint for the next three to five years [1] Group 2 - The aerospace ETF (159227) tracks the Guozheng Aerospace Index, with a high weight of 98.2% in the defense and military sector, making it the purest military ETF in the market [2] - The ETF focuses on aerospace capabilities, with a weight of 66% in the "Aerospace + Aerospace Equipment" sector within the secondary industry [2]

Investment Rating - The report indicates a bullish outlook for the US Aerospace and Defense (A&D) sector following the passage of the "One Big, Beautiful Bill" [3][11]. Core Insights - The "One Big, Beautiful Bill" allocates an additional $150 billion to the US Department of Defense, addressing chronic underinvestment in the Defense Industrial Base (DIB) and military modernization needs [1][8]. - This funding is a strategic, front-loaded capital injection aimed at signaling long-term demand to the defense industry, encouraging private sector investments in production capacity and supply chain resilience [2][9]. - The bill is expected to create a growth super-cycle in the A&D industry, providing unprecedented certainty for defense contractors' planning and capital expenditures over the next 3-5 years [2][10]. Summary by Sections US A&D Sector - The funding will lead to higher order-to-delivery ratios and earnings growth in the coming years, with management commentary on the impact of new orders being closely monitored [3][11]. - Labor shortages and supply chain bottlenecks are identified as potential execution risks despite a positive demand outlook [11]. European A&D Sector - The substantial funding for US A&D firms will increase competitive pressures on European counterparts, particularly in export orders [12]. - This situation may catalyze European governments to enhance their defense spending to support local champions, necessitating a selective investment approach in the European A&D sector [12]. Investment Recommendations - The report recommends focusing on companies such as Howmet Aerospace, BAE Systems, Rolls-Royce, Safran, GE Aerospace, and Boeing for potential investment opportunities [5][13].

Group 1 - A total of 47 universities in Henan plan to recruit 1,652 directed training military personnel this year [1] - The provincial education examination institute has announced the control score lines for political assessment and physical examination [1] - Candidates who meet the control score line must participate in political assessment and physical examination as per the requirements [1] Group 2 - Political assessment for candidates will take place from July 8 to July 10, requiring candidates to bring their household registration book, ID card, and admission ticket [2] - The physical examination will be conducted from July 11 to July 18, organized by the provincial recruitment office according to military physical examination standards [2] - Candidates can check the results of their political assessment and physical examination on the relevant websites after July 26 [2]

Conflict Situation - Russian Defense Ministry reported that in the past day, Russian military targeted energy infrastructure supporting Ukrainian military enterprises, Ukrainian troops, and temporary deployment points of foreign mercenaries [1] - Russian air defense forces intercepted and destroyed 4 Ukrainian aerial bombs, 1 HIMARS rocket, and 202 drones [1] Negotiation Situation - Trump expressed dissatisfaction with Putin and threatened additional sanctions against Russia [2] - Kremlin believes there is significant potential for the resumption of trade and economic relations between Russia and the United States [2] - Medvedev stated that there is no need to respond to Trump's statements regarding Ukraine, and Russia should continue to achieve the goals of the special military operation [2] Other Developments - Trump announced that the U.S. will supply more weapons to Ukraine [3] - U.S. Department of Defense plans to send additional defensive weapons to Ukraine [3] - According to the Financial Times, the EU aims to fill a $19 billion budget gap caused by aid to Ukraine next year [3] - Russian Deputy Foreign Minister stated that Russia will prepare for the worst-case scenario and continue to ensure its defense capabilities amid NATO's increased defense spending [3] - Kremlin commented on Trump's statements regarding more weapons for Ukraine, noting that there are many contradictions [3] - U.S. Treasury extended the general license for certain transactions with the Russian Central Bank and other entities until October 9, 2025 [3] - Ukrainian President Zelensky ordered an expansion of contacts with the U.S. to ensure timely delivery of critical supplies, mainly air defense systems [3]

在历史上的大国博弈中，军工从来不是孤立的棋子，它关联着技术、经济与国运。投资军工，有时就是在押注一个国家的未来。 全球军费开支创冷战以来新高，大国博弈叠加技术革命，军工产业迎来发展"黄金期"。在国防现代化提速、军贸升级与新兴领域爆发的三重逻辑共振下，军工 板块正从单一"安全盾牌"蜕变为兼具爆发力与成长性的投资沃土。本文深度剖析军工行业短期（事件催化）、中期（规划落地）、长 期 （国防与军贸）投资 机遇，破解市场认知误区，并解析聚焦航空航天核心赛道的天弘ETF（159241）如何成为 投资者高效布局的理财产品。 军工简史：技术革命与大国崛起 军工行业发展史本质是技术持续重塑战争形态并影响大国兴衰的历程，理解此脉络是把握行业投资逻辑的核心前提。 冷兵器时代，打仗靠人力和手艺，农耕文明跟游牧文明拿着长矛、踩着马镫在陆地上死磕；蒸汽时代，工业革命推动枪炮与战舰革新，战争转向热兵器对抗， 制海权成了香饽饽；电气时代，坦克、航母横空出世，作战扩展至陆海空协同，制空权与工业化战争成主导；到了信息化时代，计算机与信息技术发展带来精 确制导武器、无人机、卫星侦察等应用，战争升级为体系对抗，太空与网络成新战场。如今，军工发展正迈 ...

Core Points - Trump is considering providing Ukraine with an additional "Patriot" air defense system to enhance its ability to resist Russian attacks, marking a significant step as it would be the first time he approves major weapon systems beyond what the Biden administration authorized [2] - The Pentagon has indicated that under Trump's direction, the Department of Defense will send more defensive weapons to Ukraine, although the specific additional weapons have not yet been disclosed by the White House [2][3] - Ukraine is currently seeking more systems to counter escalating Russian military attacks and replenish its depleting interceptors, with each "Patriot" system typically including multiple launchers, a radar system, command control, and intercept missiles [3] Group 1 - Trump’s potential approval of an additional "Patriot" system represents a shift in U.S. military support for Ukraine, reflecting dissatisfaction with Russian President Putin [2] - The U.S. has already provided three "Patriot" systems to Ukraine, with additional systems supplied by Germany and other European nations, although not all systems are operational due to maintenance issues [2] - The U.S. and its allies face challenges in providing sufficient interceptors, as the ongoing conflicts have severely depleted U.S. ammunition stocks, raising concerns about the ability to support Ukraine adequately [3] Group 2 - Trump has expressed increased concern for Ukraine's defense needs amid intensified Russian missile and drone attacks, emphasizing the importance of defensive weapons [4] - He has publicly praised the bravery of Ukrainian forces, indicating a willingness to support further economic pressure on Russia as its wartime economy faces challenges due to international sanctions [4]

白宫考虑向乌克兰提供另一套"爱国者"防空系统。美国可能从盟友那里为基辅寻找更多"爱国者"防空系 统。 （华尔街日报） ...

Core Points - The meeting chaired by Ukrainian President Zelensky focused on the frontline situation and military operations of the Ukrainian armed forces [1] - Zelensky instructed the Defense Minister and the Commander-in-Chief of the Armed Forces to enhance communication with the United States [1] - The urgency is to implement necessary political statements and decisions quickly to protect the Ukrainian people and positions, with a particular emphasis on the deployment of air defense systems [1] - The meeting also highlighted the importance of other supplies promised by the United States [1] - Military and political teams from both Ukraine and the U.S. are actively preparing for a meeting framework [1]

特朗普：韩国应当为其军事开支买单。 ...

特朗普：正与各国洽谈增加军事贡献。 ...