Core Viewpoint - The article highlights the strong performance of the military industry in the A-share market, driven by various favorable events and long-term investment logic, particularly in the context of international conflicts and upcoming military exhibitions [2][4]. Group 1: Military Industry Insights - The military sector is experiencing a surge in interest due to significant international events and upcoming exhibitions, indicating a shift towards long-term investment strategies [2]. - The current valuation of the Chinese military sector is approximately 50 times, suggesting potential for growth compared to overseas defense technology giants [4]. - The military industry is expected to benefit from a "double hit" in performance and valuation as orders and results from the "14th Five-Year Plan" and the upcoming "15th Five-Year Plan" materialize [5]. Group 2: Key Investment Directions - Five main investment directions in the military sector are identified: military trade, military electronics, consumable ammunition, new quality combat capabilities, and military white horse stocks [6][29]. - Military trade is characterized by an increase in equipment completeness and self-sufficiency, leading to growth in export quantity and value [8]. - Military electronics are seen as a barometer for industry health, benefiting from accelerated "14th Five-Year Plan" completion and new product layouts for the "15th Five-Year Plan" [11]. Group 3: Specific Company Opportunities - Key companies in military trade include AVIC Chengfei, AVIC Shenyang, and others in radar detection and missile consumables [10]. - The consumable ammunition supply chain includes raw materials and components, with companies like Fushun Special Steel and China Weapon Industry Group playing significant roles [16]. - New quality combat capabilities are expected to emerge from policies promoting information technology and AI, with companies like AVIC and Huatai Technology leading in advanced platforms and materials [18][20]. Group 4: Long-term Growth Potential - Military white horse stocks are identified as having long cycles, high barriers, and irreplaceable advantages, with companies like AVIC Optical-Electrical showing consistent growth in both market value and performance [29][30]. - The article emphasizes that leading companies in the military sector are expected to outperform the overall industry growth rate, indicating strong investment potential [30].