Core Viewpoint - The deepening of state-owned enterprise reform provides a natural advantage for sectors with a high proportion of state-owned enterprises, particularly in the coal industry, where state-owned assets account for 85.4% of the A-share coal sector [1] Group 1: Industry Dynamics - The coal industry is experiencing measures to curb overproduction and stabilize coal and electricity prices, which lays a financial foundation for restructuring and integration [1] - The National Energy Administration has initiated checks on coal production to promote stable and orderly coal supply, starting from July 10, 2025 [1] - The State-owned Assets Supervision and Administration Commission (SASAC) has emphasized "stabilizing electricity prices" and "stabilizing coal prices" as core topics in recent economic operation meetings [1] Group 2: Investment Opportunities - The coal ETF (515220), which tracks the China Securities Coal Index (399998), has a scale exceeding 13 billion yuan, and the coal sector offers a high dividend yield of over 5.3% in the past 12 months as of September 30 [1] - The declining risk-free interest rate enhances the investment value of the coal ETF, suggesting a strategy of gradually accumulating positions in the coal ETF to seize investment opportunities in the coal sector [1]
全市场唯一煤炭ETF（515220）回调超1%，规模超130亿元，国企改革深化提速，回调或可布局
Sou Hu Cai Jing·2025-10-28 06:18