变压器“一台难求”，行业中长期逻辑坚实，电网设备ETF（159326）强势上涨

Group 1 - The A-share market saw all three major indices turn positive, with the Shanghai Composite Index up by 0.17%, the Shenzhen Component Index up by 0.66%, and the ChiNext Index up by 0.67% as of 11:08 AM [1] - The Electric Grid Equipment ETF (159326) increased by 1.44%, with a trading volume reaching 5.97 billion yuan [1] - The Electric Grid Equipment ETF has experienced a significant growth of 12.967 billion yuan in the past month, ranking first among similar products, with a total size of 17.019 billion yuan, making it the largest electric grid-related ETF in the market [1] Group 2 - 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 power transmission and transformation equipment, grid automation equipment, and distribution equipment [2] - The smart grid sector holds a weight of 90% in the index, while the ultra-high voltage sector accounts for 67%, both being the highest in the market [2] - The ETF includes leading companies such as TBEA, China XD Electric, and others, which are prominent in the export market [2] Group 3 - The demand for high-performance transformers has surged due to the explosive growth in power requirements for AI supercomputing clusters and data centers, leading to a situation where such equipment is in high demand and short supply [1] - The export of power transformers has maintained a high growth rate, with a reported export value of 5.5 billion USD from January to November 2025, reflecting a year-on-year increase of 49%, while distribution transformer exports reached 2.5 billion USD, up by 13% [1]