1月12日消息，据深交所数据显示，截至10:37，深证成指上涨0.11%，创业板指下跌0.91%，高装细分50 指数上涨4.79%，个股方面，国博电子涨16.46%，铂力特涨15.63%，中科星图涨14.98%，中国卫星、天 奥电子10%涨停，中国长城、航天电子涨超9%，中国卫通、富士达、海格通信涨超8%。 热门ETF方面，高端装备ETF（159638）涨4.49%，盘中成交额达1.55亿元，换手率达5.85%。天天基金 网数据显示，该基金近6个月涨45.30%，近1年涨67.00%。 消息面上，开年以来多地密集出台政策支持先进制造业发展，1月9日上海市发布《上海市支持先进制造 业转型升级三年行动方案（2026—2028年）》，明确引导企业布局商业航天等新兴领域，加速商业火箭 等创新产品规模化突破；1月8日广州市发布相关规划，将低空经济与航空航天列为战略先导产业，打 造"南方航天城"聚焦可复用火箭与卫星星座。商业航天领域近期动作频频，蓝箭航天科创板IPO过审拟 募资75亿元冲击"商业火箭第一股"，箭元科技国内首个海上回收复用火箭基地开工，2026年1月还将迎 来长征八号甲、长征十二号甲等多场商业发射任务。 高 ...

目前，我国商业火箭发射频次持续加密，千帆星座、GW星座等大型星座加速组网，海南商业航天发射 场进入常态化运行，全产业链呈现多点突破格局，商业航天已迈入规模化、商业化发展新阶段。 有机构分析指出，政府工作报告连续两年均提及商业航天，并将其定位为新兴产业。在产业端技术持续 突破，资本端以蓝箭航天为代表的多家企业IPO在即，持续看好商业航天的长期投资机会，建议重点关 注商业航天核心环节供应商和蓝箭航天产业链标的。 资料显示，高端装备ETF（159638）跟踪中证高端装备细分50指数，该指数选取50只涉及航空航天装备 制造、航空动力及控制系统、微波雷达、卫星导航、光电红外、通信设备、电子元器件、信息安全、航 空航天材料等业务的代表性上市公司证券作为指数样本，以反映航空航天等高端装备细分领域上市公司 证券的整体表现。 A股三大指数早盘走势分化，沪指持续走强涨超1%，突破2025年11月14日的阶段高点，再创十年来新 高。盘面上，卫星、通用航空等高端装备概念股午后强势拉升，北方导航、航天电器、中国卫通、海格 通信等集体涨停。 受盘面影响，跟踪中证高端装备细分50指数的高端装备ETF（159638）昨日迎来2026年开门红 ...

Group 1 - The core viewpoint of the news is that the commercial aerospace industry in China is entering a new phase of rapid development, with significant growth in the number of companies and launch facilities [1] - The high-end equipment ETF (159638) has seen a year-to-date increase of nearly 40%, indicating strong investor interest in this sector [1] - Key stocks in the high-end equipment ETF include major players such as航发动力, 航天电子, and 中国卫星, which collectively account for 44.64% of the fund's weight [1] Group 2 - The high-end equipment ETF (159638) has a management fee rate of 0.50% per year and a custody fee rate of 0.10% per year, providing a cost-effective investment option for investors [2] - Investors without stock accounts can also access the sector through linked funds (018027.OF, 018028.OF), broadening investment opportunities [2]

Core Viewpoint - The "14th Five-Year Plan" emphasizes the importance of emerging and future industries, identifying key sectors such as new energy, new materials, aerospace, and low-altitude economy, which are crucial for building a modern industrial system and fostering new productive forces [3][4]. Emerging Industries - The four major emerging industries highlighted are new energy, new materials, aerospace, and low-altitude economy, while six future industries include quantum technology, biomanufacturing, hydrogen and nuclear fusion, brain-computer interfaces, embodied intelligence, and sixth-generation mobile communication [3]. - Emerging industries have established clear industrial forms and development models, transitioning from "quantitative accumulation" to "qualitative leaps," presenting significant growth opportunities [3]. Investment Insights - Investment in emerging industries requires a deep understanding of the entire cycle from technological emergence to commercial realization, focusing on pioneering companies that can define the future and build competitive barriers [3]. - The core themes of advanced manufacturing revolve around "development, safety, and low carbon," indicating a strategic focus for investors [3]. New Energy and New Materials - New energy is essential for economic operation, with the "14th Five-Year Plan" introducing the "Energy Power" strategy to accelerate the construction of a new energy system and expand green electricity applications [6]. - New materials are critical for modern economies and high-end manufacturing, with increasing demand driven by technological advancements and applications in AI and new energy [6]. - The investment landscape includes over 15 actively managed funds focused on new energy and new materials, with notable performance metrics indicating substantial returns [8]. Aerospace and Low-altitude Economy - The aerospace sector is becoming a strategic focal point for national competition, with significant market opportunities emerging from commercial space exploration and advancements in green aviation and smart manufacturing [11]. - The low-altitude economy is recognized as a new growth engine, with a clear market scale and timeline outlined by the government, presenting investment opportunities across various sectors [11]. Fund Performance - Several funds have shown exceptional performance, such as the Jia Shi Environmental Low Carbon Fund, which has achieved a net value growth of 223.4% since its inception, significantly outperforming its benchmark [8]. - The Jia Shi New Energy and New Materials Fund has also demonstrated strong returns, with a net value increase of 173.43% since its establishment [8]. Product Offerings - Jia Shi Fund has systematically laid out a range of products in the new energy and new materials sectors, including ETFs that cover upstream materials, power generation, and energy storage, ensuring comprehensive market coverage [9]. - The high-end equipment ETF tracks a specialized index, providing investors with targeted exposure to the aerospace and high-end manufacturing sectors [12].

周三早盘，A股三大指数震荡分化。军工电子、卫星导航、商业航天等概念反复活跃。 每日经济新闻 消息面上，据证监会网上办事服务平台披露，近日，蓝箭航天IPO辅导工作正式完成，辅导机构为中金 公司。东吴证券指出，本轮行情较以往最大的不同在于"催化密度更高、实际影响更大"。无论是海外AI 巨头对太空数据中心的关注，还是国内可回收火箭密集首飞在即，都使得商业航天不再是空中楼阁，而 是具备真实场景和盈利路径的成长赛道。 资料显示，高端装备ETF（159638）跟踪中证高端装备细分50指数，该指数选取50只涉及航空航天装备 制造、航空动力及控制系统、微波雷达、卫星导航、光电红外、通信设备、电子元器件、信息安全、航 空航天材料等业务的代表性上市公司证券作为指数样本，以反映航空航天等高端装备细分领域上市公司 证券的整体表现。 受行情提振，跟踪中证高端装备细分50指数的高端装备ETF（159638）截至10:25涨超1.3%。成分股 中，中国卫星、航天发展、高德红外、江航装备等领涨。 Wind数据显示，今年以来，截至12月23日，该产品累计净流入资金达到3.54亿元。 ...

Group 1 - The A-share market showed mixed performance after a low opening, with the Shanghai Composite Index briefly turning positive. High-end equipment concept stocks, such as Aerospace Electronics, saw significant gains, with some stocks hitting the daily limit and others rising over 5% [1] - The high-end equipment ETF (159638), which tracks the CSI High-end Equipment Sub-index, has seen a steady increase this year, attracting market attention. Data from Wind indicates that in the past six months (as of December 12), the ETF has experienced a net inflow of nearly 300 million yuan, with its latest scale exceeding 1.7 billion yuan [1] - The high-end equipment manufacturing industry is considered a foundation for strengthening the nation, playing a crucial role in accelerating the development of new productive forces and implementing the manufacturing power strategy. The 14th Five-Year Plan suggests fostering emerging industry clusters like the low-altitude economy and enhancing key core technology breakthroughs in critical fields [1] Group 2 - Some brokerages indicate that China is on the verge of a network formation similar to SpaceX from 2018 to 2020. With the G60 and GW National Grid entering a period of intensive launches, satellite manufacturing is transitioning from laboratory customization to automotive assembly line production [2] - Under the energy security strategy, China is continuously introducing policies to increase energy exploration efforts, which is expected to maintain strong capital expenditure in energy extraction. The deep-sea equipment manufacturing sector is likely to benefit from this trend [2] - The last pain point in industrial production is meeting customer customization needs at low cost, large scale, and timely manner. Humanoid robots, as carriers of artificial intelligence, are expected to integrate traditional production lines into various manufacturing processes, addressing the final mile of consumer personalization [2]

Core Viewpoint - The aerospace and defense sectors are entering a golden development period in 2025, with strong performance in related thematic indices and ETFs, particularly the high-end equipment ETF (159638) which has shown significant gains recently [1][2]. Group 1: ETF Performance - The high-end equipment ETF (159638) achieved a five-day consecutive increase with a weekly growth rate of 6.19%, and a further rise of 4.13% on June 30, totaling a six-day increase of 10.58% [1]. - On June 30, the trading volume for the high-end equipment ETF reached 90.88 million yuan, significantly higher than the average daily trading volume of 50.93 million yuan over the past year [1]. - The ETF tracks the CSI High-end Equipment Sub-index 50, which includes leading stocks in various sub-sectors such as aerospace equipment manufacturing and radar systems, with a high concentration in the aerospace sector [1]. Group 2: Profit Expectations - The continuous rise of the high-end equipment ETF is supported by strong profit expectations, with projected year-on-year net profit growth of 85.81% and 36.49% for 2025 and 2026, respectively [2]. - The dividend payout ratios for the CSI High-end Equipment Sub-index 50 are expected to increase from 29.25% in 2022 to 54.49% in 2024, indicating a positive trend [2]. Group 3: Company Initiatives - As one of the earliest fund companies to engage in passive investment, the company has been a leader in broad-based and thematic ETFs, launching the first domestic CSI 300 index fund in August 2005 [3]. - The company has continuously innovated in the thematic ETF space, introducing several first-of-their-kind products, including the aerospace high-end equipment ETF (159638) and others focused on green energy and technology sectors [3].

Group 1 - The A-share market opened high on May 21, with coal and power equipment sectors leading the gains, while the defense and military industry experienced a slight pullback [1] - The high-end equipment ETF (159638) saw a net inflow of nearly 7 million yuan on May 20, with a current premium rate of 0.08% [1] - Key stocks in the high-end equipment ETF include major military companies such as AVIC Optoelectronics and AVIC Shenyang Aircraft, indicating a strong focus on the defense sector [1] Group 2 - According to Zhongyou Securities, the military industry is expected to see a turning point in orders by 2025, driven by new technologies and products aimed at enhancing equipment performance or reducing costs [2] - Investment recommendations include focusing on the aerospace sector and new technologies/products that offer greater market flexibility [2] - The military industry is viewed as a crucial area for development, with significant potential for growth in global competitiveness, particularly in shipbuilding, aerospace, and satellite navigation [1][2]

Group 1 - The A-share market experienced a collective decline on May 15, with major technology sectors undergoing a pullback. The high-end equipment ETF (159638) fell by 1.1% but still saw a net inflow of over 14 million yuan despite the drop [1] - The high-end equipment ETF closely tracks the CSI High-end Equipment Sub-index, which includes leading military companies such as AVIC Optoelectronics and AVIC Shenfei. The ETF also offers off-market connection funds [1] - Notably, among the ETF's constituent stocks, Zhongfu Shenying rose over 4%, while Hangjin Technology and Guangwei Composites increased by over 2% [1] Group 2 - According to Zhonghang Securities, the military industry is expected to benefit from improved asset quality, new growth trajectories, larger business scales, and higher market ceilings, leading to a revaluation of the industry [2] - The military sector is anticipated to see a recovery in fundamentals and sentiment as annual and quarterly reports are disclosed, with a better performance expected in the second half of the year compared to the first half [2] - The ongoing geopolitical conflicts are likely to increase attention on China's military trade, with the industry poised for rapid growth, particularly benefiting companies related to consumable weapons [2]

Group 1 - The core viewpoint of the articles highlights a positive trend in the military industry, with military stocks showing signs of recovery and potential growth due to increasing demand and favorable market conditions [1][2] - The high-end equipment ETF (159638) has performed well, with a weekly increase of 5.7%, indicating strong investor interest in military-related assets [1] - Active equity funds have reduced their allocation to military stocks, reaching a historical low, which may suggest a potential undervaluation in the sector as the current price-to-book ratio is around 3.12, placing it in the lower range compared to the past five years [1][2] Group 2 - There are indications of improving fundamentals in the military sector, with some upstream companies reporting significant order growth, suggesting a recovery in demand [2] - Long-term perspectives suggest that military spending may increase as the "14th Five-Year Plan" approaches its conclusion, with potential growth in sectors like low-altitude economy, deep-sea technology, and commercial aerospace [2] - The military industry is expected to see a resurgence in market activity, driven by improved fundamentals and heightened investor interest in themes such as military trade and commercial aerospace, which could lead to a sustained rally in military stocks [2]