| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 301306 | 西测测试 | 110.65 | -7.06% | 13.20万 | 14.79亿 | | 301517 | 陕西华达 | 68.08 | -4.64% | 19.88万 | 13.91亿 | | 600855 | 航天长峰 | 18.66 | -3.96% | 46.95万 | 8.85 Z | | 002977 | 天箭科技 | 42.18 | -3.61% | . 10.31万 | 4.42亿 | | 688375 | 園博电子 | 77.90 | -3.33% | 6.06万 | 4.78亿 | | 002231 | *ST奥维 | 1.65 | -2.94% | 58.38万 | 9483.98万 | | 002025 | 航天电器 | 46.77 | -2.28% | 25.63万 | 12.12亿 | | 300447 | 全信股份 | 17.26 | -1.65% | 19.07万 | 3.31亿 | | 68801 ...

肌维持"头入" 伴纹,目标价25.00元。 【中航看好四川九洲，维持"买入"评级目标价25元】12月22日，中航指出，四川九洲是国内最大的军、 民用空管系统及装备科研生产基地，智能终端产品市场份额多年居前列。公司凭借军品经验和客户资源 切入低空赛道，此次收购资产优化微波射频业务产业链布局，有望提升利润。投资建议如下：一是公司 优化智能终端产品结构、拓展市场，该业务后续仍是重要增长点；二是公司为空管系统重要供应商，低 空领域前瞻布局，空管业务将同步受益。三是微波射频领域，公司超宽带接收等技术领先，完成资产收 购将完善业务板块布局，有望分享电子对抗及雷达市场红利；四是九洲集团预计2035年资产证券化率超 60%，公司背靠集团或受益。中航维持"买入"评级，目标价25.00元。 本文由 Al 算法生成,仅作参考,不涉投资建议,使用风险自担 本文由 AI算法生成，仅作参考，不涉投资建议，使用风险自担 扫码查看原文 和讯财经 和而不同 迅达天下 ...

Group 1 - The market is entering a critical window for cross-year layout, with expectations for A-shares to resonate upward with global markets by 2026, focusing on "technology + overseas expansion" as a continuing theme [1][2] - Current market conditions are characterized by narrow fluctuations, influenced by external factors such as concerns over the AI bubble in the US and interest rate hikes by the Bank of Japan [2][3] - Investor sentiment has recently dropped below 70, indicating a pessimistic outlook that may lead to a slight recovery in sentiment and upward market fluctuations [2] Group 2 - Industry allocation strategies include focusing on high dividend stocks, cyclical sectors, and thematic hotspots such as Hainan's duty-free shopping and nuclear power [2][4] - The anticipated "cross-year-spring" market rally is supported by early policy implementation and increased institutional investment in broad-based ETFs [4][5] - The potential for a structural outperformance in sectors like brokerage and technology is expected, driven by upcoming monetary policy changes and market liquidity improvements [7][8] Group 3 - The ongoing appreciation of the RMB is expected to influence asset allocation, with approximately 19% of industries likely to see profit margin improvements due to currency appreciation [3] - Key sectors benefiting from policy support include AI, aerospace, and innovative pharmaceuticals, while cyclical sectors like chemicals and energy metals may also see positive impacts [6][9] - The market is expected to experience a "spring rally" driven by favorable valuation levels, liquidity conditions, and catalysts that enhance risk appetite [6][12] Group 4 - The outlook for 2026 suggests a shift from a single narrative to a broader focus on physical demand and domestic policy benefits, with sectors like AI and consumer services poised for recovery [10][13] - Non-bank financials are highlighted as having significant earnings elasticity, while sectors like electric equipment and machinery are expected to benefit from AI investments and export demand [13][14] - The market is currently in a phase of adjustment before the anticipated cross-year rally, with a focus on structural opportunities aligned with policy directions and industry trends [11][14]

Investment Rating - The industry investment rating is maintained at "Overweight" [1] Core Views - The report highlights that President Trump signed an executive order reaffirming the goal of returning to the Moon by 2028, establishing a framework for U.S. leadership in space exploration, security, and commercial activities [3][4] - The new U.S. space strategy includes specific timelines and goals, such as returning to the Moon by 2028 and establishing a permanent outpost by 2030, along with deploying nuclear reactors to support long-term activities [3][4] - The policy aims to boost the U.S. space economy, particularly in commercial aerospace, lunar exploration, nuclear systems, and related security technologies, suggesting investment opportunities in companies with technological reserves or collaboration potential in these areas [4][5] Market Performance - From December 15 to December 19, the defense and military industry index rose by 1.5%, outperforming the CSI 300 index by 1.8 percentage points [7] - Since the beginning of 2025, the defense and military industry index has increased by 22.9%, surpassing the CSI 300 index by 6.9 percentage points [7] - As of December 19, the defense and military industry PE (TTM) was 83.49 times, and the PB (LF) was approximately 3.52 times, indicating a high valuation relative to historical levels [7] Investment Suggestions - SpaceX has solidified its global leadership in commercial aerospace through reusable rocket technology and rapid deployment of low Earth orbit constellations, prompting domestic acceleration in technological breakthroughs and resource allocation [5][17] - Domestic developments include advancements in reusable rocket models and the initiation of large-scale satellite constellation launches, indicating a shift towards commercial operations in the aerospace sector [5][17] - The report recommends focusing on companies in the aerospace electronics sector, as domestic policies, capital, and technology converge to drive the commercial aerospace industry from validation to scale [5][17]

证券日报网讯 12月19日晚间，光启技术发布公告称，公司2025年第六次临时股东会审议通过《关于继 续使用部分闲置募集资金进行现金管理的议案》《关于续聘会计师事务所的议案》。 （文章来源：证券日报） ...

证券日报网讯12月19日，陕西华达（301517）在互动平台回答投资者提问时表示，公司生产的军品级电 连接器及互连产品，应用在各类防务领域中，包括导弹、预警机、舰艇、无人机等各类电子装备系统， 尤其是在各类雷达系统中大量应用。 ...

证券日报网讯12月19日，新光光电在互动平台回答投资者提问时表示，截至2025年6月30日、2025年9月 30日，公司普通股股东总数分别为7237户、6819户，股东数量显现进一步集中的趋势。敬请关注公司后 续披露的定期报告，公司始终严格按照监管规定履行信息披露义务。 ...

Group 1 - The military electronics sector increased by 1.16% on December 19, with Sichuan Chuang Electronics leading the gains [1] - The Shanghai Composite Index closed at 3890.45, up 0.36%, while the Shenzhen Component Index closed at 13140.22, up 0.66% [1] - Key stocks in the military electronics sector showed significant price increases, with Sichuan Chuang Electronics rising by 10.02% to a closing price of 31.19 [1] Group 2 - The military electronics sector experienced a net inflow of 232 million yuan from institutional investors, while retail investors contributed a net inflow of 307 million yuan [2] - Major stocks like Aerospace Development saw a net inflow of 286.6 million yuan from institutional investors, indicating strong interest [3] - Retail investors showed a mixed response, with significant outflows from stocks like Sichuan Chuang Electronics, which had a net outflow of 86.5 million yuan from retail investors [3]

Core Viewpoint - The A-share market is experiencing a rebound, particularly in the aerospace sector, driven by strong performance in commercial space concepts, with over 4,400 stocks rising [1] Group 1: Aerospace ETF Fund Performance - The Aerospace ETF Fund (159257) saw an increase of 0.87%, briefly surpassing 1.5% during trading, indicating a strong upward trend [1] - Major component stocks of the Aerospace ETF Fund showed significant gains, with Guanglian Aviation rising over 9%, China Satellite up over 4%, and Western Superconducting increasing by over 3% [3] Group 2: Component Stock Insights - Guanglian Aviation has established a full-chain capability for key components of launch vehicles and satellites, currently executing commercial space orders [5] - The successful launch of the "Zhuque-3" rocket marks a significant milestone for China's commercial space sector, being the first reusable liquid oxygen-methane rocket to achieve orbit [5][7] Group 3: Commercial Space Development - 2025 is projected to be a milestone year for China's commercial space development, with increased launch frequencies and successful satellite deployments [6] - The global surge in satellite internet construction is leading to a projected deployment of approximately 57,000 low Earth orbit satellites by 2029, indicating a competitive landscape for satellite resources [8] Group 4: Market Potential and Growth - The satellite industry is expected to experience significant growth, with a market potential targeting trillions, driven by the competition for low Earth orbit resources [9][10] - The Aerospace ETF Fund's focus on low-altitude economy and military industry positions it well to benefit from the anticipated growth in these sectors [10][15]

朋友们，中午好，我是帮主郑重。今天上午的盘面，是不是有点"拧巴"？看指数，沪指微涨，深成指和 创业板都是跌的；但看个股，超过3600家公司在上涨，红彤彤一片。这种"指数分化、个股普涨"的格 局，比单纯的指数大涨或大跌，其实包含了更丰富的市场语言。它告诉我们：当前市场的结构性特征已 经压倒了整体性趋势，资金正在抛弃"大盘"的旧思维，用"显微镜"寻找各自心仪的标的。 第三，操作上要"断舍离"。对于像今天这样高开低走、明显走弱的板块（如券商），以及纯粹消息刺激 后"见光死"的题材（如部分海南股），要果断放弃短线博弈的念头。在存量资金博弈下，资金只会向阻 力最小的方向（也就是有持续逻辑的方向）流动，我们没必要在弱势板块中消耗时间和资金。 总的来说，朋友们，当指数"拧巴"、个股活跃时，往往是检验我们选股能力和节奏感的最佳时机。把注 意力从指数的涨跌，切换到对板块轮动和个股强度的观察上来。我是帮主郑重，市场从不缺少机会，缺 少的是发现机会的眼睛和抓住机会的定力。下午，我们继续在结构分化中寻找属于自己的那份收获。 所以，我的核心观点是：市场正处在一个"轻指数、重结构"的黄金窗口期。 大盘指数的震荡，为活跃 资金提供了"干活 ...