2017 年行业表现疲软，2018 有望彻扫阴霾：2017 年军工股的表现较为弱势，市场对高风险高收益的行业与板块，具备较低的配置意愿，行业投资景气度较为平淡，指数下跌板块分化，细分板块投资的弱军工属性较为明显。

环保方面，环保税法正式实施，树立中国环保里程碑。《环境保护税法》2018 年1 月1 日起施行，是落实税收法定原则后的第一部税法，将取代排污费实现“费改税”。

环保板块观点 2：河南大气攻坚战打响 提标激发改造二次爆发。为了应对大气污染，河南 政府现先后建立污染天气信息平台、提请修改《河南省大气污染防治条例(草案)》、召开全 省大气污染防治攻坚冲刺 30 天电视电话会议。 《草案》审议修改稿提请省人大常委会会议 审议，针对大气污染防治的重点难点问题出台新规。其中提出清洁供暖与 7 大重点工业企 业提标改造将成重要工作方向，时间节点明确。本次河南超预期开展大气攻坚，结合先前 京津冀大气污染攻坚举措，预计新一轮环保投资将被激发，我们认为当前政府对大气污染 治理决心大，千亿非电市场超预期释放。行业整体景气度好，我们继续推荐大气治理龙头 清新环境，同时监管趋严下，监测行业聚光科技等龙头有望受益

Communication in strategic situations refers to the transmission of the right information to the concerned person at the appropriate time and ensures the reliability of processes. Mobile broadband is a commonly used medium of communication that is used extensively by enterprises and public safety agencies. The limitations in the bandwidth of the traditional voice-centric land mobile radio (LMR) networks have forced the public safety agencies to leverage commercial cellular network technology and support the increasing need for broadband applications. LTE (long-term evolution) is the leading entrant for public safety mobile broadband networks as it has high spectrum flexibility and performance metrics

Russian defence budget growth will - compared to the double-digit levels seen in recent years - slow down over the coming decade, amid sluggish real GDP expansion and efforts to limit government spending. It will nevertheless remain above 4% annually beyond 2017, reflecting Moscow's persistent efforts to play a prominent role on the global and regional stage, to modernise its military, and to protect against a broad range of security threats - the most notable of which stems from NATO. Russia's defence trade balance, meanwhile, will remain firmly in surplus over the years ahead, as the country works to increase exports (to make up for slowing domestic demand) and limit imports (amid Moscow's continued efforts to ensure sector self-sufficiency).

军事装备保障是军队为使所编配的各项军事装备顺利遂行各种任务而采取的各项保障措施及相应组织指挥活动的统称。军事装备保障的一个主要内容是军事装备维修。按照维修目的，可分为预防性维修、修复性维修、改进型维修、战场抢修四大类。装备维修一般分级实施，分基层级、中继级、后方基地维修三个级别。