Group 1 - The A-share market indices continued to decline, with the aerospace ETF (159227) experiencing a drop of 1.23% and a trading volume of 126 million yuan, maintaining the highest market share in the military industry [1] - The military industry showed significant performance growth, achieving a net profit attributable to shareholders of 24.453 billion yuan in the first three quarters, a year-on-year increase of 17.29% compared to 20.849 billion yuan in the same period of 2024 [1] - The third quarter net profit attributable to shareholders reached 8.927 billion yuan, reflecting a substantial year-on-year growth of 73.2% [1] Group 2 - The military industry is characterized by strong planning, with the five-year plan significantly influencing industry operations and market expectations, serving as a key driver for military market trends [1] - The upcoming "14th Five-Year Plan" is expected to clarify development guidance for the military industry over the next three to five years, potentially leading to a recovery in the overall industry chain's prosperity [1] - With the continuous growth of military spending, positive expectations for equipment procurement under the "14th Five-Year Plan" are anticipated to drive order momentum in the fourth quarter [1] Group 3 - The aerospace ETF (159227) tracks the Guozheng Aerospace Index, with a high military industry representation of 98.2%, focusing on the aerospace sector and covering key components such as fighter jets, transport aircraft, helicopters, and missiles [2]

Core Points - The upcoming military parade is the first of its kind to comprehensively promote Chinese-style modernization as it enters a new journey, marking a fresh appearance of the People's Army in its centenary year [3][4] - The parade will consist of two main segments: the ceremonial parade and the review parade, lasting approximately 70 minutes [4] - A total of 45 formations (teams) will participate in the parade, showcasing a blend of historical and modern military forces [4] Summary by Sections - **Parade Structure** - The parade will include an aerial flag-guard team, foot formations, battle flag formations, equipment formations, and an aerial team in a sequential manner [4] - The foot formations will reflect a combination of "old and new," representing veteran units from the War of Resistance and the new structure of military forces [4] - **Equipment and Forces** - The equipment formations will be organized into practical joint groups, including land combat groups, naval combat groups, air defense and missile groups, information warfare groups, unmanned combat groups, logistical support groups, and strategic strike groups [4] - The aerial team will be organized in a modular and systematic manner, featuring advanced early warning command aircraft, fighter jets, bombers, and transport aircraft, covering the main combat aircraft types currently in service, with some making their debut [4] - **Symbolism and Readiness** - The parade will prominently display the party flag, national flag, and military flag, marking the first concentrated showcase of the new structure of military forces during a parade [4] - Preparations for the parade are nearly complete, with all participating personnel ready to present themselves with high spirits for the inspection by the party and the people on September 3, a day of significant historical importance [4]