数据中心建设催化电力需求，电网设备ETF（159326）连续7日净流入，规模创历史新高

Core Insights - The A-share market saw all three major indices rise, with the Electric Grid Equipment ETF (159326) experiencing a slight pullback, down 0.14% as of 9:58 AM, with a trading volume of 70.63 million yuan. Key stocks such as Tongda Co. and Terui De surged, with the former hitting the daily limit and the latter rising over 9% [1] - The Electric Grid Equipment ETF has attracted significant capital, with a net inflow of 199 million yuan over the past seven trading days, reaching a new high of 305 million yuan since its inception [1] - The rapid development of AI technology is driving an explosive increase in global data center electricity demand, necessitating upgrades to the electric grid. The largest U.S. grid operator, PJM, has warned that AI-driven demand has exhausted grid capacity in the most densely populated data center regions, leaving new projects without available electricity [1] Industry Summary - According to Caixin Securities, electric grid investment is expected to remain strong. The elasticity coefficient of electricity consumption in China has been increasing, with new energy consumption demands emerging. The marketization of new energy power trading is fully implemented, leading to a rise in peak electricity loads and widening price differences between peak and valley periods [1] - On the supply side, the penetration rate of new energy in electricity supply is continuously increasing. Major projects such as the Yashan Hydropower Project and ultra-high voltage projects are expected to boost the demand for grid equipment. Both the State Grid and Southern Grid have provided high-level guidance for grid investment construction through 2025, indicating sustained growth in annual grid investment [1] - The Electric Grid Equipment ETF is the only ETF tracking the CSI Electric Grid Equipment Theme Index, with a strong representation in sectors such as power transmission and transformation equipment, grid automation equipment, cable components, and distribution equipment. The ultra-high voltage sector holds a significant weight of 62%, the highest in the market [2]