Investment Rating - The report maintains a "Strong Buy" rating for several key companies in the military industry, including 中航西飞, 中航光电, 航天彩虹, and others, indicating a strong expectation for their stock price to outperform the benchmark index by over 20% [8]. Core Insights - The military industry is highlighted as a crucial area for investment, particularly in aerospace and defense sectors, with a focus on companies that are positioned to benefit from increased military spending and technological advancements [2][3]. - The report emphasizes the potential of commercial aerospace, particularly low-orbit satellite applications, which are expected to have significant military and civilian applications [3]. - The upcoming Dubai Airshow is anticipated to be a major event, showcasing over 200 aircraft and new technologies, which could serve as a catalyst for the industry [20][22]. Industry Overview - The military industry index has shown a performance of -3.8% over the past month, but a positive trend of 12.1% over six months and 13.2% over twelve months, indicating a recovery and growth potential [5][11]. - As of November 14, 2025, the SW National Defense and Military Industry Index has increased by 13.35% year-to-date, although it has underperformed the Shanghai and Shenzhen 300 Index by 4.27% [11][12]. - The report notes that the industry consists of 119 listed companies with a total market capitalization of approximately 2060.9 billion [3]. Key Events and Catalysts - Significant geopolitical events, such as Japan's escalating rhetoric regarding Taiwan, are noted as influencing factors in the military sector, potentially impacting defense spending and strategic priorities [18][19]. - The successful completion of the first sea trial of the Navy's 四川舰 (Sichuan Ship) is highlighted as a key development, showcasing advancements in naval capabilities [22]. - The report identifies several key companies that are expected to benefit from increased demand in military trade and domestic military needs, including 中航沈飞, 中航西飞, and others [7].

Market Overview - The A-share market saw most major indices decline today, with the Shanghai Composite Index down 0.46% closing at 3972.03 points, the Shenzhen Component down 0.11% at 13202.00 points, the Sci-Tech 50 down 0.53% at 1354.04 points, and the ChiNext Index down 0.20% at 3105.20 points [1][10] - Overall, the number of stocks that rose and fell was nearly balanced, with 2582 stocks rising and 2724 stocks falling, while 138 stocks remained unchanged. The total trading volume in the Shanghai and Shenzhen markets was 19108 billion, a decrease of 473 billion from the previous trading day [1][10] Industry Performance - Among the Shenwan first-level industries, the top gainers included Computer (up 1.67%), National Defense and Military Industry (up 1.59%), Coal (up 1.32%), Telecommunications (up 1.10%), and Real Estate (up 1.00%). Conversely, the sectors that experienced the largest declines were Pharmaceutical and Biological (down 1.73%), Banking (down 1.31%), Non-Bank Financials (down 1.11%), Building Materials (down 0.93%), and Home Appliances (down 0.84%) [1][10] Concept Sector Performance - The concept sectors that performed well today included Lithium Mining, Cross-Strait Integration, Salt Lake Lithium Extraction, Operating Systems, Aquaculture, WEB 3.0, Pinduoduo Partners, Lithium Battery Electrolyte, Lithium Battery Cathode, Multi-Modal Models, AIGC, Cybersecurity, Virtual Humans, Power Batteries, and Baidu Platform [2]

国防军工板块大涨。江龙船艇（300589）等多股20cm涨停，晨曦航空（300581）涨超11%、天和防务（300397）涨幅超10%。长城军工（601606）、航天 发展（000547）等多股涨停。 | 首板 最终涨停 14:12 | | --- | | 中孚信息 | 17.82 +20.00% +15.56% | | --- | --- | | 6 300659 | | | 首板 最终涨停14:52 | | | 北方长龙 | 175.77 +19.57% +22.06% | | 创 301357 融 | | | 晨曦航空 | 17.59 +11.97% +9.19% | | 創 300581 融 | | | 品高股份 | 43.17 +11.61% +24.34% | | 科创 688227 融 | | | 最终涨停10:08 | | | 天和防务 | 13.54 +10.71% +8.93% | | 创 300397 融 | | 军贸 11月17日，A股市场弱势震荡，截至收盘，沪指跌0.46%，深成指跌0.11%，创业板指跌0.2%。市场总成交额1.93万亿，全市场100只个股涨停。 板块方面，能源金属 ...

整体看，市场处于消化压力、寻找新平衡的阶段。资金在高股息防御品种、区域性政策主题和超跌的科技龙头之间进行再配置。 11月17日，A股震荡调整，沪指跌0.43%，深成指跌0.35%，创业板跌0.8%。福建本地股、军工、锂矿、AI应用等板块领涨；贵金属、医药、光伏 设备、培育钻石等板块领跌。 具体来看，福建本地股持续走强，三木集团、平潭发展等近20股涨停，资金对区域经济主题的追捧正进入白热化阶段。 锂电板块反复活跃，盛新锂能、融捷股份等封板，延续了上周的强势。尽管龙头宁德时代因股东减持低开，但板块整体依然强势，消息面上，锂 电材料涨价潮持续传导，氯化亚砜迎来价格猛涨。 军工股盘中拉升，长城军工、航天发展等涨停。消息面上，外交部、文旅部、教育部等多部门重要提醒，近期避免前往日本，日本公然发表挑衅 言论，严重恶化中日人员交流氛围。中泰证券表示，日方挑衅使得地缘局势不确定性加剧，可能成为"推动祖国统一"的一大隐患，在我国核心利 益受到外部威胁的情况下，国防建设投入有望持续加大，规划目标有望加速实现，将推动我国军工产业进一步高质量发展。 AI应用概念走强，三六零、宣亚国际等多股涨停。在经历调整后，资金再度回流至具备想象空 ...

Group 1: Market Overview - The Hong Kong stock market experienced a decline this morning, with the Hang Seng Index dropping over 0.8% at one point [1][7] - In contrast, the A-share market saw a surge in multiple sectors, particularly in defense and military, which rose over 2.5% [2] - The lithium mining concept also saw significant gains, with related stocks experiencing a surge [5][6] Group 2: Notable Stocks - Jiangyang Group in the Hong Kong market saw a dramatic increase, with its stock price rising over 80% during trading [9] - In the A-share market, Jianglong Shipbuilding hit the "20cm" limit up, while several other stocks in the defense sector also saw gains exceeding 10% [2] - The computer sector also witnessed a surge, with stocks like Borui Data hitting the "20cm" limit up [2] Group 3: Company Announcements - Jiangyang Group announced plans for privatization, proposing to cancel all planned shares at a price of HKD 0.245 per share, which represents an approximately 87% premium over the last trading price of HKD 0.131 [11] - The company has 1 billion shares issued and intends to use internal cash resources to cover the maximum cash consideration of HKD 245 million for the plan [11]

消息面上，今天上午碳酸锂期货暴涨，国内碳酸锂期货主力合约盘中涨超8%，创出年内新高，盘中突破90000元/吨关口。 A股市场今天（11月17日）上午整体窄幅震荡。包括国防军工、计算机板块、锂矿概念等在内的多个板块掀起涨停潮，表现较好。 港股市场今天上午整体走低，恒生指数盘中跌幅一度超过0.8%。港股靖洋集团盘中一度大涨超过80%。 A股多个板块掀起涨停潮 A股市场今天上午整体窄幅震荡，主要指数不同程度走低。 主要行业板块和赛道方面，若按照申万一级行业划分，国防军工板块大涨，板块盘中涨幅一度超过2.5%。江龙船艇（300589）盘中触及"20cm"涨停，晨 曦航空（300581）、天和防务（300397）盘中涨幅超过10%。长城军工（601606）、航天发展（000547）盘中触及涨停。 计算机板块也掀起涨停潮，板块盘中涨幅一度接近2%。博睿数据盘中"20cm"涨停，海峡创新（300300）、东方国信（300166）、高伟达（300465）等多 股盘中涨幅超过10%。达华智能（002512）、华胜天成（600410）、三六零（601360）、直真科技（003007）、格尔软件（603232）、浪潮软件 （600 ...

A股市场今天上午整体窄幅震荡，主要指数不同程度走低。 主要行业板块和赛道方面，若按照申万一级行业划分，国防军工板块大涨，板块盘中涨幅一度超过2.5%。江龙船艇盘中触及"20cm"涨停，晨曦航空、天和防务盘中 涨幅超过10%。长城军工、航天发展盘中触及涨停。 A股市场今天（11月17日）上午整体窄幅震荡。包括国防军工、计算机板块、锂矿概念等在内的多个板块掀起涨停潮，表现较好。 港股市场今天上午整体走低，恒生指数盘中跌幅一度超过0.8%。港股靖洋集团盘中一度大涨超过80%。 A股多个板块掀起涨停潮 计算机板块也掀起涨停潮，板块盘中涨幅一度接近2%。博睿数据盘中"20cm"涨停，海峡创新、东方国信、高伟达等多股盘中涨幅超过10%。达华智能、华胜天成、 三六零、直真科技、格尔软件、浪潮软件、榕基软件等多股盘中触及涨停。 石油石化、煤炭、房地产等板块盘中涨幅也居于前列。 医药生物、电力设备、银行、非银金融等板块跌幅居前。 概念板块方面，锂矿概念大涨，相关概念也掀起涨停潮。天华新能大涨15.06%，盛新锂能、融捷股份、大中矿业、金圆股份等多股涨停。 消息面上，今天上午碳酸锂期货暴涨，国内碳酸锂期货主力合约盘中涨超8%，创 ...

代码有"八一"的国防军工ETF（512810）同时是融资融券+互联互通标的，是一键投资国防军工核 心资产的高效工具，覆盖商业航天 + 低空经济 + 可控核聚变 + 大飞机 + 深海科技 + 军用AI 等诸多热门 主题。 每日经济新闻 （责任编辑：董萍萍 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 地缘局势骤然趋紧，11月17日，国防军工板块跳空高开，场内热门国防军工ETF（512810）急速冲 涨逾2%。成份股方面，天海防务飙升逾11%，长城军工、航天发展开盘一字涨停。值得关注的是，早 有资金提前部署。截至11月14日，国防军工ETF（512810）近10个交易日内有9日资金净流入，金额合 计近9000万元。 消息面上，日本首相日前公然发表挑衅言论，地缘局势不确定性加剧。中泰证券指出，在我国核心 利益受到外部威胁的情况下，国防建设投入有望持续加大，"百年建军目标"和推动"国防和军队现代 化"等规划 ...

Market Overview - The Shanghai Composite Index decreased by 0.50% as of 10:29 AM, with a trading volume of 672.89 million shares and a turnover of 951.88 billion yuan, representing a 2.13% decrease from the previous trading day [1] Industry Performance - The top-performing sectors included: - Defense and Military Industry: Increased by 2.21% with a transaction amount of 404.44 billion yuan, led by Jianglong Shipbuilding which rose by 20.01% [1] - Computer: Increased by 0.83% with a transaction amount of 597.57 billion yuan, led by Haixia Innovation which rose by 15.13% [1] - Oil and Petrochemicals: Increased by 0.57% with a transaction amount of 76.18 billion yuan, led by Unified Shares which rose by 10.00% [1] - The sectors with the largest declines included: - Pharmaceutical and Biological: Decreased by 1.69% with a transaction amount of 680.11 billion yuan, led by Yao Yigou which fell by 7.34% [2] - Electric Power Equipment: Decreased by 1.39% with a transaction amount of 1,442.13 billion yuan, led by Xidian New Energy which fell by 9.98% [2] - Non-Bank Financial: Decreased by 1.26% with a transaction amount of 182.80 billion yuan, led by Northeast Securities which fell by 2.97% [2]

Group 1 - The A-share military industry sector experienced a significant surge, with companies like Great Wall Military and Jianglong Shipbuilding seeing substantial gains, indicating strong market interest and potential growth in the sector [1] - The military industry is benefiting from the "14th Five-Year Plan" completion and preparations for the "15th Five-Year Plan," with key drivers including high-end military trade, state-owned enterprise reforms, and large-scale AI deployment [1] - The upcoming launch of China's reusable rocket "Zhuque-3" is expected to lower launch costs and accelerate the development of domestic satellite internet constellations, marking a milestone for commercial aerospace [1][2] Group 2 - The military sector reported a notable increase in performance, with net profit reaching 24.453 billion yuan in the first three quarters of 2025, a 17.29% increase year-on-year [2] - The third quarter alone saw a net profit of 8.927 billion yuan, reflecting a significant 73.2% year-on-year growth, indicating a positive trend in quarterly performance [2] - The military ETF index showed strong performance, with a 2.10% increase on November 17, 2025, and a 12.88% rise over the past six months, highlighting investor confidence in the sector [2][3] Group 3 - The leading military ETF reached a scale of 7.571 billion yuan as of November 14, 2025, with a substantial increase in shares by 70.4 million over the past two weeks [3] - The ETF has seen continuous net inflows, with a peak single-day inflow of 41.8467 million yuan, totaling 1.25 billion yuan in net inflows recently, indicating strong investor interest [3] Group 4 - Investors can access military ETF opportunities through various off-market connection classes, providing additional avenues for investment in the military sector [4]