Core Viewpoint - The article discusses the upcoming premiere of the Chinese historical drama "731," which addresses the human experiments conducted by Japan's Unit 731 during World War II, emphasizing the resilience of the Chinese people in the face of such atrocities [1][2]. Group 1: Film Overview - "731" is directed by Zhao Linshan and tells the story of Wang Yongzhang, a local vendor, and others who were deceived into participating in health checks that led to brutal medical experiments [2][3]. - The film is set to premiere globally on September 18, 2025, coinciding with the anniversary of the September 18 Incident in 1931, marking the start of Japan's invasion of China [2][6]. Group 2: Historical Context - Unit 731 was a secret biological and chemical warfare research base established in Harbin, China, and was responsible for horrific human experiments, including frostbite testing and vivisection [3]. - Recently declassified documents reveal that Unit 731 conducted continuous human experiments and used pathogen-carrying artillery shells to assess infection rates, indicating a systematic approach to biological warfare [4]. Group 3: Significance and Remembrance - Jin Chengmin, a historical adviser for the film, emphasizes the importance of remembering these atrocities and the unyielding spirit of the Chinese people during this dark period [5]. - The film serves as a reminder to safeguard peace and reflects on the more than 35 million casualties suffered by China during the war, highlighting the universal condemnation of the crimes committed by Japanese troops [5][6].

Core Viewpoint - The articles commemorate the 80th anniversary of the victory in the Chinese People's War of Resistance Against Japanese Aggression and the World Anti-Fascist War, emphasizing the sacrifices and heroism of those who fought during this tumultuous period [1][3]. Group 1 - The micro-video "Mountains and Rivers Will Remember" is launched by Xinhua News Agency, showcasing the national memory through printmaking and visual storytelling [3]. - The video aims to reflect the tragic and glorious aspects of the 14-year war, honoring the enduring spirit of heroes and inspiring the current generation [3]. - The production involves a collaborative effort from various creators and institutions, highlighting the importance of collective memory in shaping national identity [4].

Investment Rating - The report rates the defense and military industry as "Overweight," indicating an expectation for the industry to outperform the overall market [3][29]. Core Insights - The report highlights that geopolitical uncertainties are increasing the valuation of the military industry, with expectations for quarterly performance to gradually materialize, potentially triggering a reversal in stock performance [2][6]. - The military industry is expected to see a gradual increase, particularly in June, driven by external geopolitical factors and the implementation of the 14th Five-Year Plan [6]. - The report emphasizes the importance of the military's fundamental changes, with stable order inflows expected to translate into performance improvements starting in Q2 [6]. - Key investment opportunities are identified in precision-guided weapons, underwater capabilities, AI/robotics, and traditional aircraft supply chains [6]. Market Review - The report notes that the Shenwan Defense and Military Index fell by 2.01%, while the CSI Military Leaders Index dropped by 2.83%, underperforming the Shanghai Composite Index, which fell by 0.51% [3][7]. - The report provides a detailed performance analysis of individual stocks within the military sector, highlighting the top gainers and losers for the week [14][15]. Valuation Changes - The report states that the current PE-TTM for the Shenwan Military Sector is 74.63, placing it in the upper range historically, with significant differentiation among sub-sectors [15][21]. - The report includes a valuation table for key military industry stocks, projecting future earnings and PE ratios [22].

Core Viewpoint - The article highlights the life and experiences of Xia Shuqin, a survivor of the Nanjing Massacre, emphasizing her role as a witness to history and a defender of truth and peace [3][16][37]. Group 1: Historical Context - In 1937, during the Nanjing Massacre, Xia Shuqin lost seven family members and was severely injured, becoming an orphan at a young age [7][8]. - The Nanjing Massacre resulted in the deaths of at least 300,000 civilians over a period of nearly six weeks, with widespread atrocities committed by Japanese soldiers [8][10]. Group 2: Personal Journey - Xia Shuqin has dedicated her life to recounting her traumatic experiences and advocating for justice for the victims of the massacre [13][31]. - In 1994, she became the first survivor to publicly accuse Japan of its wartime atrocities, revealing the ignorance of many Japanese citizens regarding these events [16][28]. Group 3: Legal Battles and Advocacy - Xia Shuqin faced defamation from Japanese right-wing groups but successfully pursued legal action, winning a defamation case in 2006 and achieving a comprehensive victory in Japan in 2009 [20][22]. - She has engaged with Japanese citizens, receiving both support and hostility, and continues to call for acknowledgment of the massacre [24][28]. Group 4: Legacy and Memory - Xia Shuqin's family has grown, symbolizing resilience and the passage of history, with her grandchildren now taking on roles as memory bearers of the Nanjing Massacre [42][46]. - The article concludes with a reflection on the importance of remembering history to ensure a peaceful future, highlighting Xia Shuqin's life as a testament to survival and the enduring impact of historical memory [37][46].