9月以来，阅兵结束、军贸订单等关键事件落地之后，航空航天板块出现了明显回撤。 行情方面，大盘全天冲高回落，科创50、创业板指双双回吐逾2%涨势收跌。截至收盘，上证指数涨0.29%、深证成指跌0.25%，创业板指跌0.44%。板块 方面，电解液消费电子、固态电池概念领涨，培育钻、海南、SPD概念跌幅居前。 令人意外的是，商业航天概念午后迅速走强，天宜新材20cm，超捷股份涨超10%，通宇通讯、沃格光电、电科芯片、中天火箭涨停。 | | Home | | 名称 | 张帽961 | | --- | --- | --- | --- | --- | | 1 | 688033 | 말 | 天官新材 | +20.04% | | 2 | 301005 | 류훈 | 超電股份 | +13.30% | | 3 | 002792 註 陆 | | 通宇通讯 | +10.03% | | র্ব | 603773 | 陸 | 沃格光电 | +10.02% | | റ | 600877 註階 | | 电科技 | +10.01% | | 6 | 003009 | | | +10.00% | | 7 | 300943 | | | +7.36% ...

Group 1 - The aerospace ETF Tianhong (159241) has seen a trading volume of 3.69% and a transaction value of 19.1774 million yuan, while the CN5082 index tracking the aerospace industry has decreased by 0.14% [1] - The ETF has experienced a significant growth of 17.6 million yuan in scale over the past six months, with a recent net inflow of 4.5565 million yuan [1] - The Tianhong aerospace ETF is highly concentrated in military attributes, with 97.86% of its holdings in the military industry, and a substantial 66.8% weight in aerospace equipment [1] Group 2 - The National Space Administration has issued a plan with 22 key measures to promote high-quality and safe development of the commercial aerospace sector from 2025 to 2027 [2] - The action plan aims for a significantly expanded commercial aerospace industry by 2027, with improved resource utilization and enhanced governance capabilities [2] Group 3 - The 2025 Asian General Aviation Exhibition is being held in Zhuhai from November 27 to November 30, featuring a theme focused on low-altitude economic opportunities [3] - The exhibition has doubled in size to 60,000 square meters, attracting nearly 400 companies from 22 countries and regions, showcasing over 170 aircraft [3] Group 4 - Tianhong Fund is hosting a live event titled "Exploring Infinite Possibilities in Low Altitude, Seizing New Trends in Military Investment" during the Asian General Aviation Exhibition [4] Group 5 - The Ministry of Transport has released typical case studies for low-altitude transportation applications, indicating a shift towards commercial applications in the low-altitude economy [5] - As operational regulations improve and pilot scenarios are implemented, the low-altitude economy is transitioning from policy-driven to commercial application [5]

截至2025年11月25日收盘，航空航天ETF天弘(159241)换手18.14%，位居深市同类产品第一，成交9732.01 万元，市场交投活跃。跟踪的国证航天航空行业指数(CN5082)下跌0.46%。成分股方面涨跌互现，航天发 展(000547)领涨3.37%，国博电子(688375)上涨3.16%，上海瀚讯(300762)上涨2.70%。 3、天弘基金直击亚洲通航展！ 拉长时间看，截至11月25日，航空航天ETF天弘(159241)近17个交易日合计"吸金"4402.10万元。 【产品亮点】 航空航天ETF天弘(159241)跟踪的国证航天指数精准覆盖了空天产业链。其中，航空装备与航天装备的权 重合计超过73%，是全市场"含航量"最高的军工指数。其前十大重仓股包括航发动力、中航沈飞、中航成 飞等央企龙头企业，既具备核心资产的稳定性，又拥有中小市值的成长弹性。 【热点事件】 1、国家新兴产业发展示范基地创建工作启动，聚焦低空装备、航空航天等领域 近日，工业和信息化部印发通知，启动国家新兴产业发展示范基地创建工作。示范基地面向2035年和"十 五五"时期国家发展战略，聚焦新一代信息技术、新能源、新材料、生物 ...

截至2025年11月25日 10:41，航空航天ETF天弘(159241)盘中换手8.84%，成交4735.63万元。跟踪的国证航 天航空行业指数(CN5082)上涨0.01%，成分股航宇科技(688239)上涨4.22%，上海瀚讯(300762)上涨4.05%， 中国卫星(600118)上涨3.37%，国博电子(688375)上涨3.15%，航天晨光(600501)上涨3.09%。 拉长时间看，截至11月24日，航空航天ETF天弘(159241)最新规模达5.38亿元，创近3月新高。 资金流入方面，航空航天ETF天弘(159241)近20个交易日净流入超7300万。 【产品亮点】 航空航天ETF天弘(159241)紧密跟踪国证航天航空行业指数，该指数覆盖航空装备、航天装备、军工电子 等细分领域，涉及卫星互联网、大飞机、低空经济等前沿科技方向，这些行业具有高技术壁垒和强研发属 性。 【热点事件】 2025亚洲通航展11月珠海启幕，聚焦低空经济全产业链 2025亚洲通用航空展将于11月27—30日在珠海国际航展中心举办，主题为"通航新纪元，探索低空无限可 能"，采用"展览+会议+赛事+活动"四位一体模式，进一步 ...

截至2025年11月24日 11:03，航空航天ETF天弘(159241)盘中换手9.57%，成交5216.26万元。跟踪的国证航 天航空行业指数(CN5082)强势上涨2.97%，成分股中国海防(600764)上涨7.89%，天和防务(300397)上涨 7.25%，航天彩虹(002389)上涨6.29%，航天发展(000547)，光启技术(002625)等个股跟涨。 截至11月21日，航空航天ETF天弘(159241)最新规模达5.34亿元，创近3月新高。航空航天ETF天弘(159241) 最新份额达4.79亿份，创成立以来新高。 据了解，本次展会展览面积约6万平方米，吸引21个国家和地区超300家企业参展，室内外动静态飞机超 150架，国际展商参展比例达25%，国际化水平显著提升，展览规模较首届通航展实现翻倍增长。 值得一提的是，本届通航展紧扣"通用航空与低空经济互促发展"为切入点，精心规划设置了旋翼机展区 （直升机、eVTOL与旋翼机）、无人机及低空经济应用场景展示专区、固定翼展区、航空动力展区、配套 展区五大主题展区，全方位展示全球通用航空及低空经济领域的新产品、新技术、新服务，众多展品 为"首展首 ...

截至2025年11月21日 14:41，航空航天ETF天弘(159241)盘中换手15.62%位居同类产品第一，成交8120.49万 元，市场交投活跃。跟踪的国证航天航空行业指数(CN5082)下跌1.57%。成分股方面涨跌互现，国科军工 (688543)领涨3.42%，中国海防(600764)上涨2.45%，亚光科技(300123)上涨1.59%。 值得一提的是，航空航天ETF天弘(159241)盘中净申购份额已达1500万份。 | | 航空航天ETF天弘 159241 | ਐ | | --- | --- | --- | | | | 0 0 + | | 实时申购赎回信息 | 申购 | 赎回 | | 筆数 | 15 | 0 | | 金额 | 0 | O | | 份额 | 1500万 | O | 截至11月20日，航空航天ETF天弘(159241)最新资金净流入1140.53万元。拉长时间看，近20个交易日内， 合计"吸金"8404万元。 【产品亮点】 配置航空航天ETF天弘(159241)能够高效捕捉主题投资机会。该ETF的样本公司与低空经济、大飞机、卫星 互联网等热门主题高度契合，成分股深度参与商业航天等新 ...

Group 1 - The aerospace ETF Tianhong (159241) has seen significant trading activity, with a transaction volume of 11.75 million yuan and a growth of 32.37 million yuan over the past two weeks [1] - The underlying index, CN5082, increased by 0.67%, with notable gains from constituent stocks such as Yaguang Technology (300123) up 16.47% and Aerospace Development (000547) up 10.01% [1] - The ETF focuses on commercial aerospace investment opportunities, covering sectors like aerospace equipment and satellite internet, which are expected to benefit from both policy and market support [1] Group 2 - The C919 aircraft made its debut at the Dubai Airshow, marking a significant step for China's aviation industry in expanding into overseas markets [2] - The C919 is China's first independently developed jetliner with complete intellectual property rights, having delivered 26 units and operated over 200 million passenger trips [2] - Analysts from Dongfang Securities believe that the military industry is at a turning point, with new equipment construction and military trade expected to drive growth in the sector [2]

Group 1 - The aerospace sector showed strong performance on November 17, with the aerospace index rising by 1.76%, driven by key events and market sentiment [1] - Notable stock performances included Tianhe Defense up 10.71%, Great Wall Military Industry up 10.00%, and Aerospace Development up 9.99% [1] - The Tianhong Aerospace ETF (159241) saw significant capital inflow, with a total of 17.91 million yuan over four out of the last five trading days [1] Group 2 - China's defense spending is projected to reach 1,784.7 billion yuan in 2025, marking a 7.2% year-on-year increase, which is expected to drive growth in military orders [2] - The military industry is transitioning from event-driven to fundamental-driven growth, with a clear improvement in performance indicators [2] - In Q1 2025, military enterprises reported a more than 40% year-on-year increase in advance payments, indicating strong downstream order demand [2] Group 3 - The aerospace industry is expected to maintain a favorable outlook in 2026, benefiting from both domestic and international demand [3] - The Tianhong Aerospace ETF (159241) focuses on commercial aerospace investment opportunities, covering sectors such as satellite internet and low-altitude economy [3] - The ETF's component stocks include leading state-owned enterprises in the aerospace sector, aligning with key themes in defense and aerospace technology [2][3]

份额方面，航空航天ETF天弘(159241)最新份额达4.62亿份，创成立以来新高。 截至2025年11月13日收盘，航空航天ETF天弘(159241)换手10.78%，成交5637.37万元，市场交投活跃。跟 踪的国证航天航空行业指数(CN5082)上涨0.42%，成分股天奥电子(002935)上涨10.01%，迈信林(688685)上 涨4.28%，航新科技(300424)上涨2.89%，振华风光(688439)上涨2.50%，振芯科技(300101)上涨2.22%。 截至11月13日，航空航天ETF天弘(159241)最新规模达5.24亿元，创近1月新高。 业内人士表示，C919产业化进程的成功推进意味着我国在航空制造链条、系统工程能力、适航认证能力方 面迈出了关键步伐，充分带动了从整机设计制造、发动机到数字化制造、适航认证等一系列环节的提升。 未来，C919国产化和商业化路径的逐渐稳固，将为我国企业在全球航空制造中争取更多话语权。 【机构观点】 中信证券此前在构建现代化产业体系方面指出，需关注"十五五"规划建议要求保持制造业合理比重，以 及"反内卷"是重塑制造业利润增长的必要之举。此外，国内和海外主要 ...

Core Insights - The aerospace ETF Tianhong (159241) has seen significant trading activity, with a turnover of 8.93% and a transaction volume of 46.70 million yuan as of November 13, 2025 [1] - The ETF's latest scale reached 521 million yuan, marking a one-month high, and its share count hit 461 million, the highest since inception [1] - Recent inflows into the ETF totaled 15.70 million yuan, with a cumulative "capital absorption" of 41.19 million yuan over the past five trading days [1] Product Highlights - The aerospace ETF Tianhong (159241) effectively captures thematic investment opportunities, aligning with popular themes such as low-altitude economy, large aircraft, and satellite internet [1] - The constituent stocks are deeply involved in emerging fields like commercial aerospace, benefiting from both policy and market support [1] Hot Events - There has been a surge in global developments in the space computing sector, with domestic and international companies advancing key layouts, indicating a clear timeline of progress [2] - Notable advancements include NVIDIA's collaboration with Starcloud to deploy H100 GPUs on satellites, achieving a 100-fold increase in computing power for complex tasks [2] - Elon Musk's plans for a 100GW space data center deployment via Starship and Google's "Sun Catcher Project" to explore solar energy for orbital AI data centers highlight the accelerating commercialization of space computing [2] - Domestic advancements include the successful selection of Guoxing Aerospace's "Zero Carbon Space Computing Center" at the World Internet Conference, showcasing significant computing capabilities [2] Institutional Perspectives - Guosheng Securities notes that space computing has transitioned from conceptual validation to engineering implementation, presenting a strategic solution to ground-based computing challenges [2] - The involvement of major AI players like NVIDIA and Amazon indicates a growing trend, with potential acceleration in development due to policy support and investment [2]