2025年8月27日早盘，A股三大指数集体冲高，创业板指半日收涨2.41%，点位突破2800点。受 "人工智 能+"行动意见发布的消息提振，AI产业链全线走强，算力、智能体、GPU概念领涨市场。 截至午间收盘，创业板ETF天弘(159977)上涨2.39%，成交6107.41万元。跟踪指数成分股长川科技 (300604)上涨20.00%，中科创达(300496)上涨16.86%，亿纬锂能(300014)上涨11.64%，新易盛(300502)， 欣旺达(300207)等个股跟涨。 截至8月26日，创业板ETF天弘(159977)近1周规模增长4.92亿元，近1周份额增长1400.00万份，实现显著 增长。 资金流入方面，创业板ETF天弘(159977)最新资金净流入4562.80万元，近5个交易日内有4日资金净流 入，合计"吸金"6165.93万元。 科创综指ETF天弘(589860)上涨2.76%，换手7.08%，成交3056.45万元。跟踪指数成分股乐鑫科技 (688018)上涨20.00%，南新制药(688189)上涨20.00%，开普云(688228)上涨20.00%，翱捷科技(688220)， 艾力 ...

计算机ETF（159998，联接：001630）：紧扣硬科技行业主线，覆盖软件、硬件、云计算等多个细分赛 道，适配数字经济、AI 发展等产业趋势。 生物医药ETF(159859，联接：011041)：聚焦生物医药全产业链，涵盖创新药、医疗器械、医疗服务等 细分领域，成分股兼具研发实力与成长潜力，契合医药产业创新升级趋势 芯片ETF天弘(159310，联接：012553)：覆盖半导体产业链全环节：芯片设计、制造、封装测试等核心 环节，直接受益于半导体产业国产替代与技术突破。 格隆汇8月25日｜A股继续狂欢，成交额半日破2万亿，上证指数放量强势上涨0.83%，午后开盘涨幅扩 大0.94%，全市场5000只个股仅有2800只录得上涨，再次凸显"难跑赢上证指数"的现状。 汇丰研究发表研究报告指，充裕的境内流动性持续推动此次中国股市升浪，上证指数今年底目标由3700 点上调至4000点。 在板块快速轮动的市场环境下，宽基 ETF 的均衡配置与行业ETF的进攻性结合是应对波动、捕捉结构 性机会的核心策略，行业ETF 通过聚焦高景气赛道获取超额收益： 机器人ETF(159770，联接：014881)：是深市规模最大的机器人 ...

格隆汇8月25日｜继上周五尾盘异动大涨，军工今日继续强势，中航沈飞涨近7%，带动航空航天ETF天 弘(159241)冲击两连阳，大涨2.17%，位居同标的第一。 8月20日的新闻发布会表示，"9·3"阅兵各项准备已基本完成，部分陆海空基战略重器、高超精打、无人 和反无人装备，是第一次对外展示，是继2019年国庆大阅兵后新一代武器装备的集中亮相。 风险提示: 观点仅供参考,不构成投资意见。购买前请阅读《基金合同》、《招募说明书》等 法律文件。市场有风险，投资需谨慎。指数基金存在跟踪误差。航空航天ETF天弘(159241 跟踪国证航天指数 (CN5082.SZ) 2020年-2024年近5个完整年度业绩依次为:76.33%、 11.33%、-28.08%、-13.30%、14.49%，数据来源：Wind,截至2025.6.25. 中航证券认为，军工行业的长期逻辑依旧坚实且清晰，进入成长与价值并重、景气度持续提升的发展新 阶段。军工行业的上中下游基本面修复有望同步发力，下半年整体将好于上半年，业绩有望逐季度环比 提升。 航空航天ETF天弘(159241)紧密跟踪国证航天指数，聚焦空天国防、会"飞"的军工，是全市场军 ...

Core Viewpoint - The aerospace ETF Tianhong (159241) is experiencing significant market activity, with substantial net subscriptions and a strong performance in the context of the growing military and aerospace sectors. Group 1: ETF Performance - As of August 12, 2025, the aerospace ETF Tianhong (159241) recorded a turnover of 13.12% with a transaction volume of 65.54 million yuan, indicating active market trading [3] - The fund has seen a net subscription of 15 million shares, ranking first among similar products [3] - Over the past week, the ETF has increased by 3.25%, leading in performance among comparable funds [3] - In the last three days, the ETF attracted a total net inflow of 35.52 million yuan [3] - The latest fund size reached 506 million yuan, marking a new high since its inception [3] - The total shares outstanding have reached 410 million, also a record high, with a year-to-date increase of 115% [3] Group 2: Industry Insights - The domestic and international unmanned/anti-unmanned sectors are showing continued improvement, with details of military drone training and deployment being disclosed [4] - The first export order for a 100-kilowatt high-energy laser weapon has been secured, indicating the practical deployment of laser anti-drone equipment [4] - The defense and military industry is benefiting from military trade orders and the upcoming military parade, which is expected to showcase new generation weaponry [4] - The missile and military electronics sectors are experiencing a surge in orders, while the aerospace engine supply chain is seeing fundamental improvements [4] - The pace of domestic satellite constellation deployment is accelerating, with 2025 projected as a key year for large-scale deployment of domestic satellites [4] Group 3: ETF Composition and Focus - The aerospace ETF Tianhong closely tracks the National Aerospace and Aviation Industry Index, focusing on key areas such as fighter jets and satellite supply chains [5] - The index has a high "military content," with 98.2% of its constituent stocks belonging to the defense and military industry, surpassing traditional military indices [6] - The index has the highest "drone content" in the market, with significant participation from companies involved in drone technology [7] - It covers the aerospace industry chain comprehensively, with over 69% weight in aerospace, aviation, and naval equipment [9] - The index constituents exhibit stronger technological attributes and clearer valuation logic, aligning with the trend of high-end development in the military and aerospace sectors [10] - The expected revenue growth rate for the index in 2025 is projected to exceed that of traditional military indices [11]

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].

Core Viewpoint - The aerospace ETF Tianhong (159241) has shown strong performance, with significant inflows and a notable procurement agreement in the eVTOL sector, indicating a bullish outlook for the aerospace industry [2][3]. Group 1: ETF Performance - As of July 17, 2025, the aerospace ETF Tianhong (159241) increased by 3.19%, with a trading volume of 83.39 million yuan and a turnover rate of 20.71% [2]. - The latest scale of the aerospace ETF Tianhong reached 395 million yuan, with a total of 360 million shares, both hitting record highs since inception [2]. - The ETF has seen a net inflow of 24.46 million yuan over the past four days, indicating strong investor interest [2]. Group 2: Industry Developments - On July 16, a procurement agreement worth 1 billion USD was signed between UAE's Autocraft and China's Shide Technology for 350 units of E20eVTOL, marking the largest single eVTOL order in China to date [2]. - The agreement is expected to deliver the first batch of orders after obtaining the airworthiness certificate from the Civil Aviation Administration of China [2]. Group 3: Military Trade Insights - China Aviation Industry Corporation (AVIC) has emphasized military trade as a core business, establishing a dedicated committee to streamline decision-making processes [3]. - Analysts predict that geopolitical conflicts will enhance the valuation of Chinese military enterprises, with a focus on military trade and new defense industry opportunities [3]. - The military industry is expected to see a gradual recovery in performance in Q2 2025, with an optimistic outlook for industry prosperity [3]. Group 4: ETF Investment Strategy - The aerospace ETF Tianhong closely tracks the National Aerospace and Aviation Industry Index, focusing on key sectors such as fighter jets and satellite industries [4]. - The ETF's constituent companies are well-positioned to benefit from emerging themes like commercial aerospace and low-altitude economy [4]. Group 5: Index Highlights - The index has a high "military content," with 96.24% of its constituents belonging to the defense and military industry, surpassing other military indices [5]. - It also leads in "drone content," featuring companies deeply involved in drone technology, making it the highest in the market [6]. - The index covers the aerospace industry chain comprehensively, with over 73% weight in aviation and aerospace equipment [7]. - The index constituents exhibit stronger technological attributes, aligning with the trend of high-end development in the military and aerospace sectors, achieving a return of 31.68% over the past year [8]. - The forecasted revenue growth for the index in 2025 is projected at 42.73%, exceeding traditional military indices [9].

Core Viewpoint - The aerospace ETF Tianhong (159241) is experiencing significant growth, with a notable increase in net inflows and a shift in China's military trade strategy towards a more integrated and supportive model [3][4]. Group 1: ETF Performance - As of July 10, 2025, the aerospace ETF Tianhong (159241) has seen a turnover of 8.13% and a half-day trading volume of 30.03 million yuan [3]. - The latest scale of the aerospace ETF Tianhong reached 374 million yuan, marking a new high since its inception [3]. - The fund has recorded a single-day net inflow of 42.13 million yuan, leading among similar products, with a total net inflow of 201 million yuan over the past 10 days [3]. Group 2: Military Trade Trends - Global military spending is on the rise, providing an opportunity for China's military trade to evolve into a more systematic export model [3]. - Chinese military equipment has shed its "low-end cheap" label, with products like the J-10CE fighter jet and PL-15E missile demonstrating competitive performance against international standards [3]. - The shift from transactional exports to full lifecycle support, including technology transfer and local production, is lowering barriers for users [3]. Group 3: ETF Composition and Focus - The ETF tracks an index where 96.24% of its constituent stocks belong to the defense and military industry, surpassing other military indices [5]. - The index has the highest drone content in the market, with companies like Aerospace Rainbow and North Navigation deeply involved in drone technology [6]. - The index covers over 73% of aerospace and aviation equipment, making it the highest in "aerospace content" among military indices [7]. Group 4: Performance and Growth Expectations - The index constituents exhibit stronger technological attributes and clearer valuation logic, aligning with the trend of high-end development in military and aerospace sectors [8]. - The expected revenue growth rate for the index in 2025 is projected to be 42.73%, outpacing traditional military indices [9].

Core Viewpoint - The aerospace ETF Tianhong (159241) has shown strong market performance with significant inflows and a focus on the military and aerospace sectors, indicating a positive outlook for the industry. Group 1: Market Performance - As of July 8, 2025, the aerospace ETF Tianhong (159241) closed up 0.54% with a turnover rate of 18.37%, leading its category, and had a total transaction volume of 605.219 million yuan, reflecting active market trading [3] - The ETF has seen a net subscription of 2.7 million shares today, with its latest scale reaching 329 million yuan and total shares at 298 million, both hitting a one-month high as of July 7, 2025 [3] Group 2: Fund Inflows and Events - The aerospace ETF Tianhong (159241) has experienced continuous net inflows over the past eight days, totaling 155 million yuan [4] - The first National Defense Science and Technology Industry Cultural and Creative Industry Expo will be held from September 29 to October 4 in Wuhan, showcasing significant military technology innovations [4] - The "Liqian No. 2" rocket is set for its maiden flight in September 2025, with a payload capacity of 12 tons to low Earth orbit, indicating advancements in commercial space capabilities [4] Group 3: Industry Outlook - According to Shenwan Hongyuan Securities, the military industry is expected to experience a dual boost in fundamentals and valuations, with military trade reshaping the global landscape and opening up significant growth opportunities [4] - Zhongyou Securities anticipates a turning point in military orders as the "Centenary of the Army Building" goals progress, highlighting new market directions driven by technological advancements [5] 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 low-altitude economy and commercial space [5] - The index has a "military content" of 96.24%, surpassing other military indices, indicating a strong focus on defense [6] - The index also leads in "drone content," featuring companies deeply involved in drone technology, making it the highest in the market [7] - The index covers over 73% of aerospace and aviation equipment, marking it as the highest in "aerospace content" among military indices [8] - The index's technology attributes are stronger, with a one-year performance return of 31.68%, outperforming traditional military indices [9] - Revenue growth for the National Aerospace and Aviation Industry Index is projected at 42.73% for 2025, exceeding traditional military indices [10]