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全球数据中心“用电荒”持续，电网设备ETF（159326）大幅回调迎布局窗口
Mei Ri Jing Ji Xin Wen·2025-11-21 07:22

Core Viewpoint - The A-share market is experiencing a significant adjustment, with major indices declining, while the electric grid equipment ETF shows a mixed performance but has seen consistent net inflows, indicating strong investor interest in this sector [1][2]. Group 1: Market Performance - As of November 21, 2025, the three major A-share indices have all declined, with the Shanghai Composite Index down 2.43%, the Shenzhen Component Index down 3.37%, and the ChiNext Index down 3.91% [1]. - The electric grid equipment ETF (159326) has decreased by 4.91%, with a latest price of 1.355 yuan and a trading volume reaching 305 million yuan, resulting in a turnover rate of 16.52% [1]. Group 2: Fund Flows and ETF Performance - The electric grid equipment ETF has seen net inflows for six consecutive trading days, with a maximum single-day net inflow of 148 million yuan, totaling 308 million yuan in net inflows, averaging 51 million yuan per day [1]. - As of November 20, 2025, the latest share count for the electric grid equipment ETF reached 1.33 billion, marking a new high since its listing [1]. Group 3: Industry Outlook - The largest U.S. grid operator, PJM, is facing a significant increase in electricity demand from data centers, which is expected to account for nearly all of the 32 gigawatts of new demand anticipated by 2030 [1]. - Citic Securities projects that global investment in electric grids will exceed 400 billion USD, with high growth potential continuing, driven by AI's strong impact on global electricity demand and a significant increase in the demand for electrical equipment [1]. Group 4: ETF Composition - The electric grid equipment ETF is the only ETF tracking the China Securities Electric Grid Equipment Theme Index, with a strong representation in sectors such as transmission and transformation equipment, grid automation equipment, cable components, and distribution equipment [2]. - The ultra-high voltage sector holds a weight of 64% in the ETF, the highest in the market [2].