电网ETF（561380）涨超1.6%，电力设备出口数据与行业催化受关注

Core Viewpoint - The export performance of electrical equipment in August 2025 showed stability, with an overall export value increasing by 25.23% year-on-year, and a cumulative growth of 34.60% from January to August [1] Group 1: Export Performance - Transformer exports continued to thrive, with a remarkable year-on-year increase of 138.03% in the European market, while the Asia-Africa markets maintained high growth [1] - Switch exports experienced a rapid growth of 37.55% year-on-year, with notable performance in the African region [1] - Cable exports saw a slight decline year-on-year, but markets in Africa and Latin America grew by 87.40% and 91.60%, respectively [1] - Meter exports decreased by 25.84% year-on-year, yet the Oceania market experienced a significant increase of 150.72% [1] Group 2: Industry Outlook - In the context of energy transition, global investment in power grid construction is steadily increasing, and China's electrical equipment products are expected to continue enhancing their overseas penetration due to technological and cost advantages [1] - Key products such as transformers, meters, switches, and cables are anticipated to benefit from this trend [1] Group 3: Investment Products - The Electric Grid ETF (561380) tracks the Hang Seng A-share Electric Grid Equipment Index (HSCAUPG), which selects listed companies involved in the electric grid equipment sector to reflect the overall performance of the industry [1] - The index constituents cover critical areas such as power network construction and technological upgrades, showcasing distinct industry representation and specialization [1] - Investors without stock accounts may consider the Guotai Hang Seng A-share Electric Grid Equipment ETF Initiator Link A (023638) and Link C (023639) [1]