特高压关键枢纽工程取得重要进展，电网设备ETF（159326）板块高景气有望延续

Group 1 - The electric grid equipment sector has shown strong performance, with the largest electric grid equipment ETF (159326) rising by 4.37% to 1.910 yuan, with a trading volume of 1.536 billion yuan, indicating high trading activity and notable performance from constituent stocks like Han Cable and Baiyun Electric, among others [1] - Significant progress has been made in key projects of the national "14th Five-Year" electricity planning, particularly the Datong-Huailai-Tianjin South 1000 kV ultra-high voltage AC project, which has entered the electrical equipment installation phase [1] - JPMorgan noted that the Chinese power equipment sector has performed well since the beginning of 2026, driven by unexpected capital expenditures in the grid and strong export demand, indicating a new golden development cycle for the power equipment industry [1] Group 2 - The electric grid equipment ETF (159326) is the only ETF tracking the CSI Electric Grid Equipment Theme Index, with a 90% weight in smart grid and a 67% weight in ultra-high voltage, making it the largest in the market with a total size of 19.287 billion yuan [2] - This ETF allows investors to gain exposure to leading companies across the entire industry chain, such as TBEA and Guodian NARI, and is positioned to capitalize on three core opportunities: AI electricity usage, domestic investment, and overseas exports [2]