军工行业周报：2025半年报回顾及展望

1 ① ② ③ “ ① ② ③ ① ② ③ ④ ⑤ ·“” 9.42%9.41%1.26%8.43%0%2%4%6%8%10%02000400060008000100002022202320242025H1-4.07%-4.49%-48.93%5.11%-60%-50%-40%-30%-20%-10%0%10%01002003004005006002022202320242025H110.67%8.78%5.83%-14.17%-20%-15%-10%-5%0%5%10%15%02004006008001000120014001600180020002022202320242025H13.40%16.72%-4.63%-30.11%-40%-30%-20%-10%0%10%20%0102030405060702022202320242025H1-14.65%-2.99%-16%-14%-12%-10%-8%-6%-4%-2%0%0501001502002503003504002022202320242025H1-36.12%-35.00%-36%-36%-36%-36%-36%-35%-35%-35%-35%-35%-34%051015202530352022202320242025H117.20%6.47%1.07%12.22%0%2%4%6%8%10%12%14%16%18%20%01002003004005006007008002022202320242025H1-2.49%4.72%-77.17%4.04%-90%-80%-70%-60%-50%-40%-30%-20%-10%0%10%051015202530354045502022202320242025H13.84%-1.41%-17.54%5.30%-20%-15%-10%-5%0%5%10%0501001502002503003504004505002022202320242025H1-13.54%-21.34%-151.00%-60.79%-160%-140%-120%-100%-80%-60%-40%-20%0%-20-100102030402022202320242025H111.70%23.55%7.84%20.98%0%5%10%15%20%25%050010001500200025002022202320242025H1106.23%122.02%95%100%105%110%115%120%125%-10010203040506070802022202320242025H112.82%-17.42%-7.81%24.46%-20%-10%0%10%20%30%0501001502002503002022202320242025H122.88%5.12%-69.47%56.69%-80%-60%-40%-20%0%20%40%60%80%0246810121416182022202320242025H115.37%10.16%12.36%16.75%0%2%4%6%8%10%12%14%16%18%020040060080010001200140016002022202320242025H11.77%-0.07%-15.43%-8.55%-18%-16%-14%-12%-10%-8%-6%-4%-2%0%2%4%0204060801001202022202320242025H14.10%-1.68%-6.79%7.02%-8%-6%-4%-2%0%2%4%6%8%050010001500200025002022202320242025H13.74%-33.89%-101.81%0.34%-120%-100%-80%-60%-40%-20%0%20%-500501001502002502022202320242025H1 ++++++++++++++-++++++++++++++++++++-+++ +++ +++ +++++++++++++++++++++++++++++++++++++++++-++++++++++++++++++++++-+++++++++++