B[Military industry sector fluctuated higher, Hangfa Technology hit its daily limit] On September 21, the military industry sector fluctuated higher during the session, and Hangfa Technology hit its daily limit. Guanxiang Technology, Alda, Huasoft Technology, Hongdu Aviation, Aviation Power, Dali Technology, etc. quickly followed suit. In terms of news, many securities companies have judged in research reports that there is a strong certainty of a positive trend in the industry from 2025 to 2027. As the "15th Five-Year Plan" equipment catalog is gradually clarified, large-scale orders are gradually being issued. B[The U.S.’s delivery of key weapons to allies may be delayed for 5 years] September 20th, it is reported that the United States has warned its allies that due to the depletion of some of its weapons and ammunition stocks, the delivery of some key weapons may be delayed by up to five years. According to reports, Germany has asked the United States to speed up the delivery of Tomahawk cruise missiles and Typhon missile systems, but the manufacturer is unlikely to complete related orders within the next five years. According to the report, it is estimated that the United States used more than half of the "Patriot" missiles, one-third of the "Tomahawk" missiles, and nearly half of the "THAAD" anti-missile system interceptors in the war in Iran. The U.S. Congressional Budget Office released a report this month stating that since June 2025, the U.S. interceptor inventory has been consumed by one-half to two-thirds, and that even with increased production, it will take at least five years to rebuild the U.S. interceptor inventory. (CCTV International News) B[CITIC Construction Investment: The profit recovery of the military industry sector is accelerating Waiting for the issuance of large-scale orders during the "15th Five-Year Plan"] On September 13, CITIC Construction Investment's research report pointed out that with the full disclosure of the 2026 semi-annual reports of listed companies in the military industry sector, the trend of accelerated recovery of sector profits is clear: the 26H1 sector achieved operating income of 4,159.95 billion (+7.93%), net profit attributable to the parent company was 25.326 billion yuan (+20.98%); gross profit margin rebounded by 0.92 percentage points to 18.85%, net profit margin rebounded by 0.66 percentage points to 6.09%, and operating net cash flow turned from negative to positive. The accelerated recovery of segment profits in 26H1 showed significant structural characteristics: growth was mainly contributed by shipping, ground military equipment and military trade-related directions, while profits from traditional core tracks such as aerospace still declined year-on-year. The "comprehensive recovery" of the overall segment profits has yet to be further verified after the implementation of large-scale orders during the "15th Five-Year Plan". The agency judged that China's military industry has evolved from relying on domestic single demand to a new three-wheel drive pattern of "domestic demand foundation, foreign trade expansion, and civilian feedback", with growth momentum becoming more diverse and sustainable. B[Military industry sector bucked the trend and rose, Inner Mongolia Yiji Machinery rose by the daily limit] On September 11th, the military industry sector bucked the trend and rose by the intraday limit, Inner Mongolia Yiji Machinery hit the daily limit, with Northern Changlong, Great Wall Military Industry, Boyun New Materials, Jieqiang Equipment, Shengnan Technology, etc. leading the gains. On the news side, the agency research report pointed out that fundamentally, the military industry's 2026 mid-term report showed that the operating cash flow of the main engine plant has improved significantly, and it is expected to usher in structural performance realization due to the advancement of concentrated delivery in the second half of the year. B[Military industry sector rebounded in shock, Jieqiang Equipment rose more than 10%] On September 4th, the military industry sector fluctuated and rebounded during the session, with Jieqiang Equipment rising more than 10%. Previously, Hunan Tianyan had hit its daily limit, and Morningside Airlines, Jianglong Shipbuilding, China Shipbuilding, Northern Changlong, and aviation materials stocks all rose more than 5%. On the news, the revenue of 80 companies covered by the CSI Military Industry Index increased by 18.89% in the first half of the year, and their net profits increased by 32.92% year-on-year, confirming that the industry is booming. B[Military industry sector's gains expanded, Shengnan Technology's 30cm daily limit] On September 2, the military industry sector's intraday gains expanded, and Shengnan Technology's 30cm daily limit was reached. Previously, Inner Mongolia No. 1 Machinery, Construction Industry, Great Wall Military Industry, and Boyun New Materials had reached daily limit, while Northern Changlong, Tongyi Aerospace, and Tianqin Equipment all rose by more than 10%. B[Military industry sector repeatedly active, construction industry rising by daily limit] September 2nd, the military industry sector was active again in early trading, and the construction industry rose by the daily limit, with Inner Mongolia No. 1 Machinery, Northern Changlong, Great Wall Military Industry, Shengnan Technology, Tianqin Equipment, Huaqiang Technology, and China Optics leading the gains. On the news, according to statistics, the total revenue of the 80 companies covered by the CSI Military Industry Index in the first half of the year was 377.494 billion yuan, a year-on-year increase of 18.89%, and the net profit attributable to the parent company was 24.772 billion yuan, a year-on-year increase of 32.92%. The overall performance of core listed companies in the military industry is improving, confirming that the industry is booming.
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