Group 1 - The core viewpoint is that the new equipment showcased in military parades, such as unmanned clusters and hypersonic weapons, represents a revolution in "algorithm-defined equipment" that disrupts traditional warfare rules [1] - The explosive growth of intelligent and unmanned equipment is fundamentally a result of the integration of data, algorithms, and computing power, which significantly impacts mechanical warfare [1] - The technological turning point is reflected in three aspects: the leap from assisted decision-making to autonomous decision-making in AI algorithms, breakthroughs in new materials and power systems leading to hypersonic platforms, and the widespread availability of low-cost sensors and communication modules enabling distributed operations [1] Group 2 - The military ETF (512660) covers the entire defense industry chain, providing good elasticity and defensive attributes, making it an important tool for capturing industry allocation opportunities [2] - The ETF tracks the CSI Military Index, which selects representative listed companies in the defense industry from the Shanghai and Shenzhen markets, reflecting the overall performance of related securities [2] - As of September 1, 2025, the military ETF has a scale of 15.864 billion, ranking first among 12 similar products, indicating a high concentration and distinct characteristics of the military industry [2]