As of 10:03 on April 9, 2025, the CSI National Defense Index (399973) rose 4.94% strongly, the constituent stocks Chengchang Technology (001270) rose 10.00%, Triangle Defense (300775) rose 9.69%, 712 (603712) rose 9.40%, Zhongbing Red Arrow (000519), Zhenhua Fengguang (688439) and other stocks followed suit.

As of April 6, according to incomplete statistics, a total of 39 listed companies in the defense industry disclosed their 2024 annual reports, of which 18 listed companies had a year-on-year increase in performance, and 7 listed companies had a year-on-year growth rate of more than 20% in net profit attributable to the parent company.

Northeast Securities believes that the national defense and military industry sector has long-term growth certainty. Since 2023, the fundamentals of the military industry have been affected by factors such as personnel adjustments, orders have been delayed, and the industry's prosperity has declined. At the current point in time, the "14th Five-Year Plan" has entered its final year, the disturbance factors in the military industry have been basically eliminated, and the downstream demand is showing recovery growth. The defense sector is expected to improve substantially, with a high margin of safety and long-term growth certainty.

The

CSI National Defense Index selects the securities of listed companies affiliated to the top 10 military industrial group companies, as well as the securities of relevant listed companies that provide weapons and equipment for the national armed forces, or have actual equipment sales amounts or contracts with the military, as the index sample to reflect the overall performance of the securities of listed companies in the defense industry.

According to the data, as of March 31, 2025, the top ten weighted stocks of the CSI National Defense Index (399973) are AVIC Optoelectronics (002179), Hangfa Power (600893), AVIC Shenfei (600760), AVIC West (000768), AVIC Airborne (600372), Aerospace Electronics (600879), Philip (300395), Higer Communications (002465), Ruichuang Micro-Nano (688002), Western Superconductor ( 688122), the top 10 weighted stocks accounted for 43.42% of the total.