Military workers ETF (512660) continued to rise in the market, closing up by 4.19%

On Wednesday (July 20), the Shanghai and Shenzhen cities flocked and shocked. Circuit stocks were relatively rare in the industry from new energy to military industry and medical beauty. As of the close, the Shanghai Stock Exchange Index rose 0.77%to 3304.72 points; CSI 300 rose 0.34%, and the GEM index rose 0.52%. The market for two consecutive days was lower than trillion, and the amount of volume continued to shrink. Northbound funds made up some positions after the position was reduced by nearly 10 billion yesterday, and bought 3.678 billion yuan in daily nets.

Military workers ETF (512660) continued to rise in the market, closing up by 4.19%

The Eastern theater said today that on July 19, the US "Benford" missile destroyer passed the Taiwan Strait and publicly speculated. The Eastern theater of the Chinese People's Liberation Army organized a police officer for the entire process. The United States frequently provoked and showed its potential, fully showing that the United States is a peaceful and stable destroyer in the Taiwan Strait and a manufacturer of security risks of the Taiwan Strait. The theater troops maintain a high degree of alert at any time and resolutely defend the national sovereignty and territorial integrity.

At present, the CSI military index has 20 component stocks released the 2022 interim performance preview, and the overall performance performance is bright. Twenty listed companies are expected to have a net profit of the year -on -year growth rate of over 40%, and the estimated net profit is expected to be over 65%in the upper limit of the year -on -year limit.

Outlook on the market:

Due to the rigid delivery needs of the military industry, the annual order tasks must be completed. In the first half of the year, due to the influence of some factors, the performance of more industries in the market is under pressure, and the military industry has benefited from its unique planning and high certainty characteristics. Many listed companies in the industry have stable performance, and the prosperity of the industry chain continues to improve The relative advantages of other industries are prominent. In the first half of the year, the military products comparison, bidding, review, acceptance delivery and other links were gradually returning to normal. The post -bidding and delivery orders in the first half of the year are entering the conventional process. Chase progress and complete the annual indicators.

Looking forward to the second half of the year, in the macroeconomic fluctuations, the "strong planning" of the military industry will make it have strong performance and certainty, and the growth attributes of the sector will be prominent. Different from the past, only upstream companies have fulfilled their performance. Since 2020, the performance of the middle and lower reaches has also improved significantly. With the improvement of corporate management level and the reform of pricing mechanisms, the performance capacity of midstream and lower reaches is expected to continue to improve.

Pre -collection and affiliated transactions have increased significantly, and the industry has been clear for a long time. According to the first quarter report of the military industry sector in 2022, the industrial chain contract liabilities increased by 139.60%year -on -year, of which aviation parts (+455.58%), OEM (+147.35%), new materials (+119.95%), sub -system (+93.69%) ) And military electronics (+7853%) five major sections of contract liabilities have increased significantly. At the same time, the affiliated transactions of downstream OEMs have increased significantly, or it indicates that the company's orders are fully orders and the business remains high. AVIC Shenfei announced that daily affiliated transactions in 2022 were 59.978 billion yuan, of which the purchase of goods received 26.346 billion yuan, from the actual actual amount in 2021 Increase 42.00%. The significant increase in the core OEMs and sub -system companies has ensured the continuous growth of the military industry sector in the next few years, and its valuation system has a basis for switching to long -term.

In the year of the three years of the reform of the state -owned enterprise reform in 2022, it is expected that the reform of state -owned enterprises will be accelerated. In terms of equity incentives, the current fundamentals of the industry continue to rise, and under the promotion of policy encouragement, the situation of military industry enterprises has increased significantly. According to statistics, in the first half of 2022, a total of 10 military -listed companies have implemented equity incentives. Four companies have issued equity incentive plans, and the pace of military industry listed companies has accelerated significantly. Electronic Technology Group's capital operation accelerates, such as China Porcelain Electronics, etc. At the same time, Aviation Industry Group, as the capital operation of the military group, has been promoted since 2021, and has been promoted to the Flying UAV IPO, AVIC Electronics Mergenal AVIC Mechanical and Electrical. Promote the "combination boxing" of capital operation to further boost the emotions of the sector.

At present, the CSI military index is 59 times PE valuation, which is located at 20.78%of the historical section, and the plate configuration value is high.

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