The aerospace sector remained active on August 5th, with the Hua Bao Fund General Aviation ETF (159231), which offers a single-stop investment in commercial aerospace, satellite navigation, the low-altitude economy, and large aircraft, seeing its intraday price rise by 1.21% and heading for a fourth consecutive day of gains.
On the news front, August 5th saw SpaceX disclose its second-quarter results for the period ending June 30, 2026. The company reported revenue of $78.14 billion, a year-on-year increase of 92%, and an adjusted EBITDA of $35.38 billion, up 191% from the prior year. All three core metrics exceeded expectations.
By business segment, the networking business, which includes Starlink, generated $42.91 billion in revenue, up 66% year-on-year. Its subscriber base surpassed 12 million, and it became the company's only segment to achieve operating profitability, posting a quarterly operating profit of $16.6 billion, an increase of nearly 80% year-on-year.
The market has long been concerned that commercial aerospace only burns cash without generating profits. Starlink now provides an overseas reference for the commercial closure of domestic satellite internet. Guolian Minsheng Securities noted that the domestic space computing power industry has clear downstream plans and strong competitiveness, making the current aerospace sector an attractive allocation opportunity.
There are numerous participants in the domestic space computing power track, and the launch cadence is fast, with substantial progress expected this year. The commercial aerospace industry has seen fruitful results this year, including the launches and recoveries of the Long March 10 and Long March 10B, with no substantive negative factors for the industry itself. The recent weakness in the aerospace sector has been primarily driven by capital and external capital market factors, not the industry's fundamentals. After a deep correction, the sector now offers significant allocation value.
The Hua Bao Fund General Aviation ETF (159231) and its linked funds (Class A: 024766; Class C: 024767) track an underlying index that comprehensively covers 50 aerospace and aviation constituent stocks. This includes popular areas such as the low-altitude economy, commercial aerospace, satellite navigation, large aircraft, drones, and military aircraft. The index has a weight of over 90% in the low-altitude economy concept, over 60% in commercial aerospace, and over 45% in satellite navigation, making it a powerful tool for single-stop allocation to the Chinese aerospace industry chain.
Market volatility may be significant in the near term, and short-term gains or losses do not predict future performance. Fund investments may incur losses. Investors must make rational decisions based on their own financial situation and risk tolerance, with close attention to position sizing and risk management.
Data sources: Shanghai and Shenzhen Stock Exchanges, iFind. The related concepts are 886067.TI (Low-altitude Economy), 886078.TI (Commercial Aerospace), and 885574.TI (Satellite Navigation). The concept content is the total weight of the common constituent stocks between the General Aviation Index and the aforementioned concept indices, as of June 30, 2026.
Fee explanation: The General Aviation ETF does not charge subscription fees, and subscription/redemption agents may charge a commission of up to 0.5%. On-exchange trading fees are subject to the actual fees charged by the securities company. The subscription fee for the Hua Bao Fund General Aviation ETF Linked Fund Class A is 1,000 RMB per transaction for amounts over 2 million RMB, 0.6% for amounts between 1-2 million RMB, and 1% for amounts under 1 million RMB. The redemption fee is 1.5% for holdings under 7 days and 0% for holdings over 7 days. It does not charge a sales service fee. The redemption fee for the Hua Bao Fund General Aviation ETF Linked Fund Class C is 1.5% for holdings under 7 days and 0% for holdings over 7 days. The annual sales service fee is 0.25%.
Institutional reference source: Guolian Minsheng Aerospace Team, July 26, 2026, "Commercial Aerospace Series Conference Call, 26th Edition: Star Ship 13th Flight, Multiple Chinese Space Computing Power Satellites Enter Orbit, How to View Commercial Aerospace Now"
Risk disclosure: The Hua Bao Fund General Aviation ETF passively tracks the CSRC General Aviation Industry Index. The base date of this index is June 29, 2012, and its release date is December 28, 2012. The composition of index constituents is adjusted according to the index's compilation rules. Its back-tested historical performance does not predict the index's future performance. The index constituent stocks shown in this article are for demonstration purposes only. Descriptions of individual stocks do not constitute any form of investment advice and do not represent the holdings or trading intentions of any fund managed by the fund manager. The fund manager assesses the risk level of this fund as R3-Medium Risk, suitable for balanced (C3) and above investors. Please refer to the sales institution for the appropriate suitability opinion. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, any form of expression, etc.) is for reference only. Investors must be responsible for their own investment decisions. Furthermore, any views, analyses, or forecasts in this article do not constitute any form of investment advice to the reader, nor are they responsible for any direct or indirect losses arising from the use of this content. Fund investment carries risks. The past performance of a fund does not represent its future performance. The performance of other funds managed by the fund manager does not constitute a guarantee of the fund's performance. Fund investment should be approached with caution.