Group 1 - The aerospace and defense sector is experiencing active trading, with the aerospace ETF (159227) showing a turnover of 17.83% and a transaction volume of 150 million yuan, indicating a vibrant market activity [1] - The latest scale of the aerospace ETF has reached 852 million yuan, marking a new high since its establishment [1] - Companies such as Great Wall Military Industry (601606) and Aerospace Development (000547) have shown significant stock price increases of 8.46% and 4.11% respectively, while Huazhong Technology (300045) has led the decline [1] Group 2 - The aerospace ETF (159227) tracks the National Aerospace Index, with a high concentration of 97.91% in the military industry, focusing on the aerospace sector and covering key components such as fighter jets, transport aircraft, helicopters, and missiles [2] - From July 29, 2024, to July 28, 2025, the National Aerospace Index has achieved a return of 38.85%, outperforming other military indices such as the China Securities National Defense Index (34.37%) and the China Securities Military Industry Index (32.84%) [2]

Group 1 - The aerospace ETF Tianhong (159241) has seen a recent increase of 2.33%, rebounding after two touches of the 20-day moving average, with a trading volume of 240.35 million yuan [2] - The ETF has accumulated a 4.41% increase over the past month, ranking first among comparable funds [2] - In terms of net inflow, the ETF has attracted a total of 60.56 million yuan over the past five days, also leading among similar products [2] Group 2 - Shenzhen has released a plan to build a high-quality low-altitude infrastructure, aiming to establish itself as the "global low-altitude economy capital" by 2026, with an expected economic output of over 130 billion yuan [3] - The commercial aerospace sector is expected to continue being driven by satellite constellation construction and commercial launches, with a positive outlook for mid-term performance in satellite manufacturing [3] - The aerospace ETF is seen as an efficient way for ordinary investors to participate in the military industry investment [3] Group 3 - The aerospace ETF Tianhong (159241) closely tracks the National Aerospace and Aviation Industry Index, focusing on key areas such as aircraft and satellite industries [4] - The index has a high concentration of defense and military stocks, with 98.2% of its constituents belonging to the defense industry [5] - The index also has the highest exposure to drone-related companies in the market, making it a leader in this segment [6] Group 4 - The index covers the aerospace industry chain comprehensively, with over 69% weight in aerospace, aviation, and naval equipment [7] - The technology attributes of the index constituents are stronger, aligning with the trend of high-end development in the military and aerospace sectors [8] - Revenue growth expectations for the index in 2025 are projected to exceed those of traditional military indices [9]

Core Viewpoint - The aerospace ETF Tianhong (159241) has shown strong performance, with a notable increase in trading volume and significant growth in fund size, driven by key catalysts in the military industry and increasing market interest [3][4][5]. Group 1: ETF Performance - As of July 18, 2025, the aerospace ETF Tianhong (159241) rose by 1.76%, with a turnover rate of 19.89% and a transaction volume of 783.29 million yuan, indicating active market trading [3]. - The fund's size reached 391 million yuan, with a total of 344 million shares, reflecting an 80% increase in shares year-to-date, the highest among similar products [3][4]. Group 2: Key Catalysts in Military Sector - The upcoming grand military parade is expected to showcase the latest achievements in military equipment, highlighting China's capabilities in joint command and operational support [4]. - The anticipated commissioning of the Fujian aircraft carrier, China's first fully domestically designed and built catapult aircraft carrier, is generating significant market interest due to expected demand for carrier-based aircraft [4]. - Successful military trade collaborations, including a $1 billion deal with the UAE for 350 low-altitude aircraft, are expanding order volumes and enhancing China's military export prospects [4]. Group 3: Industry Outlook - The defense and military industry is entering an upward cycle, with domestic demand expected to rise due to military modernization efforts transitioning from mechanization and informatization to intelligent and unmanned systems [4]. - The global geopolitical landscape is increasing military trade demand, with China's products gaining recognition for performance and supply capabilities, potentially reshaping the global military trade landscape [4]. Group 4: ETF Characteristics - The aerospace ETF Tianhong (159241) closely tracks the National Aerospace and Aviation Industry Index, focusing on key sectors such as aircraft and satellite industries, aligning with emerging themes like commercial space [5]. - The index has the highest "military content," with 98.2% of its constituent stocks belonging to the defense and military industry, surpassing traditional military indices [6]. - It also leads in "drone content," with significant participation from companies involved in drone technology, making it the index with the highest drone exposure in the market [7]. - The index covers the aerospace industry chain comprehensively, with over 69% weight in aerospace, aviation, and naval equipment, marking it as the highest in "aerospace content" among military indices [8]. - The index constituents exhibit stronger technological attributes, aligning with the trend of high-end development in the military sector, and have outperformed traditional military indices in terms of returns over the past year [9].