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图6、五年规划落地前后军工行业相对全A超额收益(T年为五年计划正式落地之年)
图6、五年规划落地前后军工行业相对全A超额收益(T年为五年计划正式落地之年)
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所属报告:
宏观策略-A股市场策略:以我为主围绕“十五五”战略性布局-251026(10页).pdf
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相关数据
图21:自2012年以来食品杂货指数相对于纽约(=100)的累计变化(指数点)
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行业数据
2026-07-21
原图定位
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图20:Numbe0食品杂货指数--城市食品杂货成本相对于纽约(=100,阴影部分)
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行业数据
2026-07-21
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全球主要半导体厂商CAPEX同比增速vs五大设备商总市值相对于SOX的超额表现(截至CY26/7/2)
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行业数据
2026-07-08
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相对于2018年的职位发布数量,2018-2025年,民主化与专业化岗位,全球
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行业数据
2026-07-01
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图7:.各国数字投资的直接和溢出影响相对于复苏和韧性基金拨款金额(单位:十亿欧元)
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行业数据
2026-07-01
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相对于美国消费需求,消费品进口明显不足;今年美国消费品进口已在回升
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行业数据
2026-06-02
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中国、日本和韩国相对于美国的全要素生产率
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行业数据
2026-05-25
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行业-地区供应增长预测相对于模型和上一周期(2026-30
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行业数据
2026-04-29
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我们建模三个说明性的adoption 情景,增量相对于今天的计算为:520亿美元*(新份额-3%)。
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竞争格局
2026-04-27
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图12:新增绿色产业补贴数量,与本国能源成本相对于全球每千瓦时成本的差值对比
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行业数据
2026-04-22
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Google PMax表现相对于标准购物广告的比较(2025Q1–2026Q1)
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行业数据
2026-04-22
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2024Q4–2026Q1传统流媒体平台CPM中位数相对于广告平均值的变化(%)
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行业数据
2026-04-22
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图3:波兰各月平均温度相对于1991-2020参考期的分位数范围
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行业数据
2026-04-20
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图表1 - SWX相对于受监管天然气公用事业LDC同行的相对溢价/折扣(财年3市盈率)
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行业数据
2026-04-20
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CO1:2024年供应链面临的最大操作挑战相对于2023
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行业数据
2026-04-08
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最新数据
全球全年龄段奶粉市场规模(亿美元)
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行业数据
2026-07-30
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全球酸奶及发酵乳制品市场规模(亿美元)
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2026-07-30
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全球药用级益生菌市场规模(百万美元)
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2026-07-30
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全球益生菌膳食补充剂市场规模及增速
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2026-07-30
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全球拥有AKK专利菌株的核心企业
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行业数据
2026-07-30
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对内,军工作为强计划性行业,五年规划对于行业景气和市场预期有着重要影响。参考历史经验,从五年规划启动编制,到正式落地的第一年,军工行业的超额收益通常较为明显。“ 十五五”时期作为大国弈、、全球竞争力提升的关键阶段,对 于军工表述的战略性高度显著提升。随着军队建设“十四五”规划执行已进入能 力集成交付关键期、叠加 “ 十五五”规划编制推进、落地,行业未来三到五年的 发展指引将逐渐清晰,前期积压的下游需求有望迎来大幅释放。随着新一轮订单
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宏观策略-A股市场策略:以我为主围绕“十五五”战略性布局-251026(10页).pdf
表1、全球军费支出高增
图7、创新药产业链拥挤度已降至低位
图6、五年规划落地前后军工行业相对全A超额收益(T年为五年计划正式落地之年)
图5、军工产业链拥挤度已降至低位
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