碳中和50ETF（159861）收涨超过1.6%，行业供需格局改善预期升温

Group 1 - The electric equipment and photovoltaic equipment industries are currently in a phase of supply contraction and increased concentration [1] - The supply contraction of wind power and photovoltaic equipment is similar, while the supply of grid equipment is low but showing signs of marginal recovery [1] - From a capital cycle perspective, these industries have experienced long periods of low profitability and lack of expansion motivation, now entering a recovery phase for profitability [1] Group 2 - Under the "anti-involution" logic, industry supply expansion has peaked, and capital expenditure is declining, while demand remains relatively stable, improving the supply-demand balance and driving a rebound in profitability [1] - The thermal power sector within the electric equipment industry shows significant cyclical profit characteristics, and the industry structure is expected to improve further due to self-discipline and price constraints from distributors [1] Group 3 - The Carbon Neutrality 50 ETF (159861) tracks the Environmental Protection 50 Index (930614), which selects outstanding listed companies in environmental protection, pollution control, and clean energy sectors from the Shanghai and Shenzhen markets [1] - This index covers multiple sub-industries, including new energy and energy-saving technologies, demonstrating strong industry representation and growth potential [1] - Investors without stock accounts can consider the Guotai CSI Environmental Industry 50 ETF Connect C (012504) and Connect A (012503) [1]