电网ETF（561380）涨超2%，行业景气周期与资本开支共振支撑长期表现

Core Insights - The power equipment sector benefits from sustained prosperity, achieving long-term excess returns with a historical probability greater than other cyclical industries [1] - From 2003 to 2010, the industry experienced net profit growth driven by demand and orders due to peaks in power generation and grid construction; from 2019 to 2023, the domestic dual carbon system leads to continuous equipment procurement cycles, while global reinvestment in power grids and the new energy sector creates a rhythm of market opportunities [1] - The core logic is the "resonance of global grid capital expenditure" [1] Industry Overview - The Electric Grid ETF (561380) tracks the Hang Seng A-share Electric Grid Equipment Index (HSCAUPG), which selects listed companies with at least 40% of their main operating income from the electric grid equipment industry [1] - This index reflects the overall performance of listed companies in the fields of power network infrastructure construction and smart grid technology upgrades, showcasing a strong industry focus and accurately covering the core segments of the power equipment supply chain [1]