CITIC Securities: Domestic military trade products are expected to further increase their global market share.

According to the research report of Citic Securities, on September 17th, Saudi Arabia and Pakistan signed a defense agreement, which stipulates that any attack on one country will be considered an attack on both sides. The outstanding performance of a variety of exported equipment from our country in the India-Pakistan conflict has helped our products to be recognized by foreign military. China's arms trade is gradually transitioning from low-end and cheap exports in the past to high-end weapons exports, especially against the background of large-scale updates and replacements of domestically produced equipment in recent years, some military products have strong competitiveness internationally. In the future, with the gradual rise of China's international political status, domestically produced military trade products are expected to further increase their global market share.