A股马年首个交易日（2月24日），军工板块盘初短线下探后快速回升，而后持续飘红，高人气军工ETF 华宝（512810）摸高1.98%，收涨1.16%日线三连阳，全天频现溢价，收盘溢价率仍有0.29%，显示买盘 资金活跃。 成份股57涨23跌，中航重机、菲利华涨超8%居前，中国动力大涨6.17%，权重股中国船舶、航发动力、 光启技术齐涨超2%。臻镭科技、航天发展等多只商业航天人气股逆市下跌。 消息面上，春节前后军工各领域催化不断。国内，春运期间，14架国产大飞机C919日均执飞近50班航 班，同比增长52.6%，2026国产化进度加速可期。商业航天方面，业内人士表示，3至6月有望迎来可回 收火箭试验的密集验证。 国际上，美伊关系高度紧张。日前美国军工巨头雷神技术表示，美国海军批准其"风暴破坏者"智能武器 在"超级大黄蜂"机队上使用。伴随国际地缘政治风险加剧，我国国防建设紧迫性提升。 东方证券最新研报建议"加大军工板块配置，核心看好大飞机和军贸"。该机构认为，大飞机瓶颈环节提 速超预期、军贸在中东等新市场份额提升的预期有望随近期地缘事件强化，应重点加大这两个方向的配 置，并等待商业航天、内需方向的机会。* 【投军 ...

Core Viewpoint - The military industry sector in A-shares shows strong performance on the first trading day of the Year of the Horse, with significant interest in military ETFs, particularly the Huabao ETF, which has seen a price increase and active buying [1][3]. Group 1: Market Performance - The military sector experienced a quick recovery after a brief dip, with the Huabao ETF reaching a high of 1.98% and closing up 1.16%, marking three consecutive days of gains [1]. - Among the constituent stocks, 57 increased while 23 decreased, with notable gains from Zhonghang Heavy Machinery and Feiliwa, both rising over 8%, and China Power increasing by 6.17% [1]. - Major stocks such as China Shipbuilding, Aero Engine Corporation of China, and Guangqi Technology all rose by over 2% [1]. Group 2: Industry Catalysts - The military industry is experiencing multiple catalysts, including a significant increase in domestic flight operations of the C919 aircraft, which averaged nearly 50 flights per day during the Spring Festival, representing a year-on-year growth of 52.6% [3]. - The commercial aerospace sector is expected to see intensive testing of recoverable rocket experiments from March to June [3]. - Internationally, heightened tensions between the U.S. and Iran have led to increased urgency in China's defense construction, as evidenced by the U.S. Navy's approval of Raytheon Technologies' smart weapon for use on the Super Hornet fleet [3]. Group 3: Investment Recommendations - Dongfang Securities recommends increasing allocation to the military sector, particularly focusing on large aircraft and military trade, anticipating accelerated progress in large aircraft production and increased market share in military trade in new markets like the Middle East [3]. - The Huabao ETF, which covers various popular themes such as large aircraft, commercial aerospace, low-altitude economy, satellite navigation, military informationization, and controllable nuclear fusion, is highlighted as an efficient tool for investing in core military assets [3].

Group 1 - Boeing has secured a $930 million contract from the U.S. Navy for the "Super Hornet" [1]

Group 1 - The deployment of the USS Gerald R. Ford aircraft carrier in the Caribbean, under the pretext of combating drug trafficking, raises questions about the underlying geopolitical motives of the U.S. government [1][2] - Historical context shows that the U.S. has a long history of military interventions in Latin America, with nearly 400 interventions globally since 1776, 34% of which targeted Latin America and the Caribbean [2] - The USS Ford's presence is perceived as a demonstration of U.S. military power, signaling that the U.S. can still enforce its will in its "backyard" [2][3] Group 2 - The U.S. military buildup in the Caribbean is viewed as a significant threat to peace and stability in the Western Hemisphere, suggesting that non-compliant regimes may face military consequences [3] - The narrative of "fighting drugs" is seen as a facade for U.S. interventionism, with the real intent being the protection of U.S. interests and hegemony in the region [2][3] - The changing dynamics in Latin America, characterized by greater sovereignty and diverse development, challenge the effectiveness of traditional U.S. interventionist strategies [3]