Group 1 - The core viewpoint indicates that the allocation of active funds in the military industry sector has increased, with a 0.92 percentage point overweight in Q2 2025, up by 0.35 percentage points from Q1 2025, suggesting potential for further expansion in the context of domestic demand and foreign trade resonance [1] - The current complex international situation has led to a rising demand for advanced defense equipment, which is expected to open up the market for China's integrated combat system [1] - Key areas such as unmanned, intelligent, underwater, and information technology are anticipated to become focal points in the 14th Five-Year Plan, highlighting the investment value in the military sector [1] Group 2 - The military ETF (512660) tracks the CSI Military Index (399967), which selects listed companies in the defense and military industry from the Chinese A-share market, reflecting the overall performance of these securities [1] - The CSI Military Index focuses on the defense sector, comprising highly representative and liquid securities, showcasing distinct industry characteristics and style allocation [1]