中信建投:军工板块业绩持续回升

格隆汇
Yesterday
中信建投研报指出,国防军工板块业绩自25年触底以来持续回升,需求恢复已连续多个季度体现至报表端,26H1板块利润增速显著上台阶,复苏正从结构性走向全面性。在2027年建军百年背景下,2025至2027年行业向好趋势确定性强,当前正处于“十四五”收官与“十五五”规划交替的关键窗口。上半年军队客户人事调整影响进一步消化,“十四五”延迟订单加速交付。随着“十五五”规划装备目录逐步明确,规模化订单下达渐行渐近,板块已进入基本面全面复苏新周期。

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