行业需求上行周期与供给偏紧格局并存，电网ETF（561380）盘中涨超1%

Group 1 - The National Energy Administration of China announced on June 5 the initiation of pilot projects for the construction of a new power system, focusing on seven areas including grid technology and smart microgrids [1] - According to CITIC Securities, global demand for power equipment has entered an upward cycle, driven by strong demand from renewable energy installations, grid upgrades, and data centers [1] - The International Energy Agency predicts that global electricity consumption will continue to grow at an annual rate of nearly 4% until 2027 [1] Group 2 - On the supply side, the global supply-demand balance remains tight, with the average delivery time for large power transformers nearly doubling since 2021, and transformer prices increasing by approximately 75% since 2019 [1] - China, as a major power equipment manufacturing country, has seen a favorable export environment, with power transformer exports exceeding 13 billion yuan from January to April 2025, marking a year-on-year increase of around 50% [1] - Large-capacity transformers are identified as the core source of this growth in exports [1]