全球缺电带来新一轮投资机遇 机构建议关注四大方向

Group 1 - The global electricity supply is facing increasing tension, driven by surging electricity demand from AI data centers in the US, energy transition challenges in Europe, and accelerated industrialization in emerging markets, indicating a new cycle of electricity shortages [1] - China is emerging as a key player in global electricity construction due to its robust power system and manufacturing advantages, presenting significant growth opportunities for domestic industry chain enterprises [1] - Investment focus areas include: 1) Equipment demand growth from power system construction, including energy storage, power equipment, and photovoltaics; 2) Upstream resource products benefiting from power system construction, such as copper and aluminum; 3) Scarce raw materials due to rising demand for new energy; 4) Companies actively transforming due to rising electricity prices, such as cryptocurrency mining operations [1] Group 2 - ETFs related to electricity system construction are attracting significant capital, with notable funds including the photovoltaic ETF tracking the top 30 photovoltaic leaders and the energy storage battery ETF focusing on the energy storage industry chain [2] - The largest battery ETF in the market has seen over 900 million yuan in net inflows over three consecutive trading days, reaching a total scale of 15.886 billion yuan, making it the only battery-themed index fund exceeding 10 billion yuan [2] - The rare metals ETF, which tracks the rare metals theme index, has also attracted substantial investment, with over 800 million yuan in net inflows, indicating strong market interest in upstream resource products related to electricity system construction [2] Group 3 - The electric equipment and new energy industry is at the beginning of a new cycle, with global new energy installed capacity expected to increase significantly during the 14th Five-Year Plan period, leading to revolutionary changes in the power system [3] - High proportions of wind and solar energy integration will create massive demand for energy storage and capacity, while global investments in electricity grids, especially in Europe and the US, will continue to rise to meet carbon neutrality goals [3] - The fundamental changes in electricity demand driven by AI are expected to manifest gradually by 2026, indicating a long-term growth trajectory for the industry [3]