Group 1 - The military industry sector is experiencing a rise, with the Aerospace ETF (159227) increasing by 0.64% and achieving a trading volume of 73.66 million yuan, leading its category [1] - The Aerospace ETF has seen a continuous inflow of funds for 11 trading days, totaling 293 million yuan, with a current scale of 546 million yuan, making it the largest in its category [1] - The visit of the Shandong aircraft carrier group to Hong Kong, coinciding with significant anniversaries, has boosted public interest and showcased national defense achievements, providing momentum for the military industry [1] Group 2 - According to Shenwan Hongyuan Securities, the military industry's fundamentals are entering an upward cycle, driven by domestic demand from military construction [2] - The current phase of military development focuses on "mechanization + informatization," with expectations to transition into the next cycle characterized by "intelligent + unmanned" systems, enhancing domestic demand and ensuring growth in the military sector [2]

东方证券表示，6月下旬军工板块止跌企稳，多数细分方向处于低位，伴随积极的变化逐步出现，板块 配置价值凸显。"十四五"收官之年景气度持续恢复，军贸有望成为第二增长极。 （文章来源：每日经济新闻） 7月10日午后，A股三大指数集体上涨，军工板块触底反弹，截至14点27分，航空航天ETF（159227）跌 幅收窄至0.73%，成交额达8990万元，居同类第一。持仓股航宇科技、迈信林、中国海防上涨，长城军 工、中兵红箭、北方导航、国睿科技等股跌幅靠前。航空航天ETF连续10日获资金净流入，累计达2.43 亿元，最新规模4.99亿元，稳居同类ETF规模榜首。 消息面上，7月9日下午，中国航天员科研训练中心在北京航天城举行神舟十九号乘组与记者见面会，航 天员蔡旭哲、宋令东、王浩泽太空归来后首次公开亮相，并分享183天"太空出差"的经历与感悟。乘组 在轨期间参与实施了88个实（试）验项目，覆盖空间生命科学、微重力基础物理、航天医学等领域，成 功制备10余种102个试验样品。此次亮相不仅展现了我国载人航天工程的成果，也从侧面反映出我国航 天产业链各环节的协同发展与技术实力。 航空航天ETF（159227）紧密跟踪国证航天指数 ...

中邮证券表示，展望2025年，建军一百年奋斗目标任务进入下半场，军工行业订单有望迎来拐点，在服 务于提升装备性能或降低装备成本的新技术、以新域新质作战力量为代表的新产品、军贸和军用技术转 化带来的新市场方向或蕴含更大弹性，建议关注航空航天主线。 （本文机构观点来自持牌证券机构，不构成任何投资建议，亦不代表平台观点，请投资人独立判断和决 策。） 7月8日，近期回调的军工板块企稳反弹，截至收盘，航空航天ETF（159227）涨幅0.64%，成交额收于 7052万元，最新规模达4.73亿元，居同类第一。近期资金逢跌布局明显，航空航天ETF已连续9个交易 日获资金净流入，合计"吸金"达2.14亿元，近一个月规模增长率高达168%。 航空航天ETF（159227） 紧密跟踪国证航天指数，深度聚焦军工空天核心领域。该指数高度集中，申 万一级军工行业占比高达98.2%，堪称全市场"军工纯度"最高的指数；其成分股中，航空航天装备权重 占比达66.5%，显著超越中证军工与中证国防指数。作为投资"战斗机龙头股"的高效工具，该ETF亦是 目前跟踪国证航天指数规模最大的产品。 消息面上，据中国载人航天工程办公室消息，天舟八号货运飞船 ...

Group 1 - The A-share market saw a collective rise in the three major indices, with the aerospace ETF (159227) experiencing a significant increase of 1.09% and a trading volume of 23.51 million yuan, leading its category [1] - The aerospace ETF has recorded a net inflow of capital for nine consecutive trading days, totaling 214 million yuan, reaching a new high of 473 million yuan since its listing [1] - The military industry is expected to see accelerated order demand fulfillment as the "14th Five-Year Plan" approaches its conclusion in 2025, providing a clear development blueprint for the next three to five years [1] Group 2 - The aerospace ETF (159227) tracks the Guozheng Aerospace Index, with a high weight of 98.2% in the defense and military sector, making it the purest military ETF in the market [2] - The ETF focuses on aerospace capabilities, with a weight of 66% in the "Aerospace + Aerospace Equipment" sector within the secondary industry [2]

航空航天ETF（159227）紧密跟踪国证航天指数，该指数以超98.2%的军工行业权重形成显著特征，航 空装备与航天装备两大核心板块占据66.5%权重，深度聚焦航空航天装备产业链关键领域。 （文章来源：每日经济新闻） 从资金流入看，航空航天ETF（159227）已连续8个交易日获资金净流入，呈现越跌越买趋势，近一个 月规模增长率高达154%。 现代战争中，空中力量的作用日益凸显，使得航空装备成为各国军队建设的重点，行业技术门槛极高， 涉及众多高端技术和复杂工艺，在军工产业链中的价值量占比较高。当前地缘政治冲突持续升级，世界 军费开支持续增长，我国军工企业在无人机、战机、导弹等领域的技术优势凸显，成军贸主要增量，航 空航天板块是核心受益方向。 申万宏源表示，随着市场对军工行业关注度持续提升，以及十五五规划逐渐推进，结合军队换装大周期 和军贸新格局，军工有望实现基本面和行业估值双击，建议持续加大军工关注度。 7月8日，A股市场迎来反弹，wind全A收5388点，收涨1.08%，成交额涨至1.47万亿元，个股大部分收 涨，涨跌比为4282：979，申万一级行业中，通信、电力设备、电子、建筑材料等行业涨幅居前，公用 ...

消息面上，近期，商业火箭领域频频传来好消息。5月29日，北京箭元科技有限责任公司的"元行者一 号"验证型火箭在海阳东方航天港成功进行了首次飞行回收试验；6月20日，由蓝箭航天空间科技股份有 限公司研制的朱雀三号可重复使用运载火箭成功完成一级动力系统试车；据东方空间（山东）科技有限 公司消息，其"引力二号"运载火箭目前已进入产品齐套和各项大型地面试验阶段。7月2日，据报道，由 中科宇航技术股份有限公司（以下简称"中科宇航"）研发的"力箭二号"运载火箭将于今年9月份首飞。 7月8日午后，A股三大指数继续上行，通信、电子、电力设备等行业涨幅居前，国防军工板块低开高 走，午后持续拉升，截至14:21，航空航天ETF（159227）翻红，现涨0.27%，成交额达5669万元，居同 标的ETF第一，持仓股上海瀚讯涨超3%，华秦科技、中国海防、迈信林、华力创通、天和防务等跟 涨。 资金流向方面，航空航天ETF（159227）7月7日净流入额为1642.83万元，截至上个交易日，已连续8个 交易日获资金净流入，累计净流入额为1.91亿元。该ETF最新流通份额为4.09亿份，最新流通规模为 4.48亿元，创上市以来新高。 航空 ...

航空航天ETF（159227） 跟踪国证航天指数，该指数军工属性极强，申万一级军工行业占比98.2%，是 全市场军工含量最高的指数！更聚焦的是，其航空航天装备权重占比高达66.5%，远超中证军工和中证 国防指数。作为跟踪该指数的最大规模ETF，为投资者提供了高效把握核心军工空天机遇的途径。 （文章来源：每日经济新闻） 从资金净流入方面来看，航空航天ETF（159227）已连续7个交易日获资金净流入，最高单日获得 3752.28万元净流入，合计"吸金"1.75亿元，日均净流入达2498.79万元。 兴业证券表示，7月胜率较高的方向主要集中在军工等制造板块。对内，"五年计划"交界节点叠加对外 全球竞争力提升，军工行业新一轮订单释放的预期正在增强。对外，随着我国武器在世界持续展现强大 竞争力，中国在国际军贸中的市场空间有望进一步打开。 截至2025年7月7日 10点25 分，A股三大指数全线调整，上证指数跌0.09%，深证成指跌0.53%，创业板 指跌1.01%，航空航天ETF（159227.SZ）上涨0.37%，最新报价1.098元，盘中成交额已达0.28亿元，换 手率6.99%。成分股方面涨跌互现，中航沈飞领涨 ...

Group 1 - The three major indices collectively declined on July 2, with the Shanghai Composite Index down 0.09%, the Shenzhen Component Index down 0.61%, and the ChiNext Index down 1.13% [1] - The aerospace sector experienced a pullback, continuing the downward trend from the previous trading day, with the National Aerospace Index down 2.32% and only 2 out of 50 constituent stocks rising [1] - The Aerospace ETF (159227) also fell by 2.32%, closing at 1.097 yuan, with a trading volume of 88.81 million yuan and a total scale of 342 million yuan, ranking first among its peers [1] Group 2 - The first National Defense Science and Technology Industry Cultural and Creative Industry Expo will be held from September 29 to October 4 in Wuhan, with a focus on military and supply chain systems [2] - In 2024, the aerospace and high-tech industries are projected to see a year-on-year revenue growth of 10.5% and profit growth of 26.3%, indicating significant advancements in high-end manufacturing [2] - The Ukrainian Ministry of Defense has communicated with the U.S. regarding defense supply details, clarifying that they have not received any official information about a halt in military aid from the U.S. [2] Group 3 - According to Zhonghang Securities, the military industry sector is currently in a state with broad upward potential and a solid bottom, although there may be volatility risks in sub-sectors and individual stocks in the short term [3] Group 4 - The Aerospace ETF (159227) tracks the National Aerospace Index, focusing on aerospace capabilities, with the military industry accounting for 98.2% of the index, indicating a higher concentration compared to other indices [4] - The weight of aerospace equipment in the National Aerospace Index is as high as 66%, significantly exceeding the weights in the CSI Military Industry Index (40%) and the CSI National Defense Index (53%) [4]

太平洋证券表示，2025年是"十四五"规划收官之年，军工行业有望摆脱近两年的低迷期，迎来全面复苏 的景气拐点。随着订单恢复正常并陆续释放，军工板块或将进入业绩改善与估值提升的"戴维斯双击"阶 段。 （本文机构观点来自持牌证券机构，不构成任何投资建议，亦不代表平台观点，请投资人独立判断和决 策。） （文章来源：21世纪经济报道） 7月1日，连续多日上涨的军工板块迎来回调，截至14:02，聚焦空天国防的航空航天ETF（159227）跌 0.44%，成交额达8352万元，暂居同标的第一，持仓股中船应急20CM涨停，长城军工涨停，中国海 防、中兵红箭、海兰信、亚光科技、航材股份、中航西飞等股跟涨。 航空航天ETF（159227） 跟踪国证航天指数，该指数军工属性极强，申万一级军工行业占比98.2%，是 全市场军工含量最高的指数，更聚焦的是，其航空航天装备权重占比高达66%，远超中证军工和中证国 防指数。值得一提的是，Wind金融终端数据显示，截至6月30日，航空航天ETF（159227）最新规模 3.22亿元，为跟踪该指数的最大规模ETF。 消息面上，据央视新闻报道，记者当地时间6月29日获悉，俄罗斯于夜间对乌克兰全 ...

Core Viewpoint - The aerospace industry is experiencing significant growth driven by advancements in core technologies, increased domestic production capabilities, and a growing demand for maintenance and commercial aviation engines [2][3]. Group 1: Market Performance - As of July 1, 2025, the CN5082 aerospace industry index showed mixed performance among its constituent stocks, with China Ship Emergency leading with a 20.04% increase [1]. - The Aerospace ETF (159227) reached a new high of 3.22 billion yuan, reflecting an 11.08% increase over the past week [1]. Group 2: Leadership Changes - Zhang Yujin has been appointed as the chairman and party secretary of the Aviation Industry Corporation of China, indicating a new leadership direction that may lead to renewed growth in the aerospace sector [1]. Group 3: Technological Advancements - The aerospace engine industry has made significant progress over the past five years, achieving independence from imported engines for military applications and advancing domestic commercial engine development [2]. - Breakthroughs in core technologies related to engine materials, design, and manufacturing processes have been realized, enhancing the industry's capabilities [2]. Group 4: Growth Opportunities - The maintenance sector for aerospace engines is poised for explosive growth as domestic engines are increasingly deployed, with maintenance costs accounting for up to 50% of the total lifecycle cost [3]. - The C919 passenger aircraft has surpassed 1,000 total orders, marking a significant milestone for domestic commercial aviation and indicating a shift towards self-sufficiency in the supply chain [3]. - The gas turbine market is experiencing rapid growth due to global infrastructure recovery and increased demand for AI computing power, with domestic products gradually replacing imports [3]. Group 5: Index Composition - As of June 30, 2025, the top ten weighted stocks in the CN5082 aerospace industry index accounted for 49.42% of the index, highlighting the concentration of key players in the market [4].