冲击4连涨！央企创新驱动ETF(515900)最新规模创近3月新高，雅江电站概念股继续大涨

Core Viewpoint - The recent developments in the central state-owned enterprises (SOEs) innovation-driven index and related ETFs indicate a positive trend in the market, driven by significant infrastructure projects and favorable policies in the defense and low-altitude economy sectors [3][4][5]. Group 1: Market Performance - As of July 22, 2025, the Central SOE Innovation-Driven Index (000861) increased by 0.85%, with notable gains from companies such as China Railway Construction Heavy Industry (688425) up by 20.04% and China Energy Engineering (601868) up by 10.20% [3]. - The Central SOE Innovation-Driven ETF (515900) rose by 0.78%, marking its fourth consecutive increase, with a latest price of 1.55 yuan [3]. - Over the past week, the ETF has accumulated a rise of 3.77% [3]. Group 2: Infrastructure Projects - The commencement of the Yarlung Tsangpo River downstream hydropower project, with a total investment of approximately 1.2 trillion yuan, is expected to significantly boost infrastructure development in the western region and promote clean energy initiatives [4]. - This project represents six times the annual investment amount in Tibet and is projected to account for 88.7% of China's total water conservancy investment in 2024 [4]. Group 3: Fund Performance and Metrics - The Central SOE Innovation-Driven ETF has reached a new high in scale at 3.486 billion yuan, ranking in the top quarter among comparable funds [4]. - The ETF has shown a net value increase of 10.42% over the past two years, with a maximum monthly return of 15.05% since inception [4][5]. - The ETF's management fee is 0.15% and the custody fee is 0.05%, both of which are the lowest among comparable funds [5]. Group 4: Industry Outlook - The defense and military industry is experiencing a dual boost from policy and market conditions, with the low-altitude economy meeting injecting new momentum into the sector [4]. - The hydropower project is expected to benefit various sectors, including civil explosives, tunneling, and power equipment, enhancing the overall industry outlook [4].