Establishments described in this report are primarily participating in the train lighting market. Train lighting is one of the important passenger amenities which influence the image of Railways. ... Power supply system for trains is designed and developed to suit the requirement of AC and non-AC working in the trains. Few factors considered for development of such systems are as under.

Establishments described in this report are primarily participating in the smart railways market.

Establishments described in this report are primarily participating in the space robotics market. Space robots are considered to be more capable devices that can facilitate manipulation, assembling, or servicing functions in orbit as assistants to astronauts, or to extend the areas and abilities of exploration on remote planets as surrogates for human explorers.

国航、东航、南航分别公告各自与空客签订96、100 架、 96 架A320NEO 系列飞机采购协议，总计292 架飞机采购协议；上 述飞机计划于2023 年至2027 年分批交付于各公司，主要起到存量 机型置换、补充运力作用。

1H22，军工板块市场表现与基本面出现较大背离，经历了深“V”反弹。前 期下跌原因主要是市场因素和部分事件的过度反应。展望2022 下半年，我们看 好后续机会，主要原因有：1）在宏观经济波动、局部疫情影响下，军工行业需求 确定增长有韧性，具有比较优势；2）规模效应叠加结构优化，可较好消化通胀压 力；3）“国企改革”持续推进，发展潜力较大；4)国产大飞机/无人机/商业航天 等新兴领域孕育机会，注册制下更多企业登陆资本市场，投资者关注度提升；5） 当前估值低于近3/5/10 年估值中枢，下半年估值切换逻辑下，配置性价比高。