（文章来源：每日经济新闻） 11月5日，电网设备ETF（159326）强势上涨，截至13点05分，涨幅达5.31%，在全市场ETF中涨幅第 一。成交额达3.14亿元，创上市以来新高。持仓股中能电气、智光电气、宏发股份、神马电力、保变电 气、特变电工等多股涨停。 电网设备ETF近期持续获资金关注，近一个月规模增长超480%，最新规模达7.28亿元，创成立以来新 高。 电网设备ETF（159326）是全市场唯一跟踪中证电网设备主题指数的ETF，从申万三级行业分类上看， 指数成分股的行业分布以输变电设备、电网自动化设备、线缆部件及其他、通信线缆及配套、配电设备 为主，拥有较强的代表性。特高压权重占比高达64%，全市场最高。前十大重仓股中囊括了国电南瑞、 特变电工、思源电气、特锐德等行业龙头。 随着AI技术的快速发展，全球数据中心的电力需求正在爆炸式增长，高盛预计，未来10年，AI推动的 全球数字基础设施+能源体系的投资规模将高达5万亿美元，其中，电网设备将是这场投资浪潮中最直 接的受益者。微软首席执行官纳德拉近期在BG2播客中也表示，当前AI算力扩张的真正瓶颈并非芯片供 应，而在于"电力供给"。 东吴证券认为，20 ...

Group 1 - A-shares opened lower but rose throughout the day, with significant gains in electric power and grid concept stocks, particularly the electric grid equipment ETF which increased by 5.38% and saw a net subscription of 80 million units [1] - The market's growing concern over "AI causing power shortages" has led to increased investment in the electric grid equipment ETF, which has seen net inflows exceeding 300 million yuan over the past seven days [1] - Export data for electrical equipment continues to show high growth, with transformer and isolator exports increasing by 39% and 31% respectively from January to September, driven by demand from Europe and North America [1] Group 2 - The entrepreneurial board new energy ETF Huaxia, which tracks the entrepreneurial board new energy index, rose by 2.99% and includes major stocks such as CATL and Sunshine Power [2] - The entrepreneurial board new energy ETF has over 70% content in energy storage and solid-state batteries, indicating a strong focus on advanced battery technologies [2]

Core Viewpoint - New Asia Cable's stock has shown a slight recovery after a significant decline this year, with recent trading activity indicating a mixed sentiment among investors [1][2]. Company Overview - New Asia Cable, established on July 2, 1999, is located in Qinyuan City, Guangdong Province, and specializes in the research, production, and sales of electrical wires and cables [1]. - The company's main revenue sources are: power cables (39.94%), overhead wires (36.68%), electrical equipment wires and cables (22.94%), cable pipes (0.23%), and others (0.21%) [1]. Financial Performance - For the period from January to September 2025, New Asia Cable reported a revenue of 2.257 billion yuan and a net profit attributable to shareholders of 77.1823 million yuan, reflecting a year-on-year decrease of 14.56% [2]. - The company has distributed a total of 1.03 billion yuan in dividends since its A-share listing [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for New Asia Cable is 25,800, a decrease of 22.76% from the previous period, with an average of 2,407 circulating shares per shareholder, an increase of 33.47% [2]. - The largest circulating shareholder is Hong Kong Central Clearing Limited, holding 713,500 shares, which is an increase of 289,200 shares compared to the previous period [3]. Market Activity - New Asia Cable's stock price has decreased by 25.02% year-to-date, but has seen a slight increase of 2.25% over the last five trading days [1]. - The stock has appeared on the "Dragon and Tiger List" 14 times this year, with the most recent appearance on July 22, where it recorded a net buy of -158.672 million yuan [1].

Core Viewpoint - The stock of Guodian NARI has shown a slight increase of 0.08% year-to-date, with recent fluctuations indicating a 1.08% decline over the past five trading days, while experiencing a 7.40% increase over the last 20 days and a 13.25% increase over the last 60 days [1] Company Overview - Guodian NARI Technology Co., Ltd. is located in Nanjing, Jiangsu Province, and was established on February 28, 2001, with its listing date on October 16, 2003. The company specializes in power grid automation, industrial control (including rail transit), power generation and renewable energy, and energy-saving and environmental protection [1] - The main business revenue composition includes: Smart Grid 50.43%, Low Carbon Energy 26.98%, Digital Energy Integration 16.09%, Industrial Interconnection 5.13%, Integration and Others 1.24%, and Other (Supplementary) 0.13% [1] Financial Performance - For the period from January to September 2025, Guodian NARI achieved operating revenue of 38.577 billion yuan, representing a year-on-year growth of 19.38%. The net profit attributable to the parent company was 4.855 billion yuan, reflecting a year-on-year increase of 8.55% [2] - Since its A-share listing, Guodian NARI has distributed a total of 24.308 billion yuan in dividends, with 12.674 billion yuan distributed over the past three years [3] Shareholder Structure - As of September 30, 2025, the number of shareholders of Guodian NARI reached 150,100, an increase of 49.47% compared to the previous period. The average circulating shares per person decreased by 33.09% to 53,271 shares [2] - The top circulating shareholders include Hong Kong Central Clearing Limited, holding 772 million shares (a decrease of 318 million shares), and China Securities Finance Corporation, holding 237 million shares (unchanged) [3]

Company Overview - Jinhui Electric is located in Jinhua City, Zhejiang Province, and was established on April 15, 2003, with its listing date on April 21, 2010 [1] - The company specializes in the research, production, and sales of insulators, as well as related technical services, drama investment, production, and performance, and film investment and related cultural services [1] - The main revenue composition includes glass insulators (82.19%), drama performances (15.92%), and other services (1.90%) [1] Financial Performance - For the period from January to September 2025, Jinhui Electric reported operating revenue of 141 million yuan, a year-on-year decrease of 13.63% [2] - The net profit attributable to the parent company was 7.25 million yuan, reflecting a year-on-year decline of 54.94% [2] - Since its A-share listing, the company has distributed a total of 45.15 million yuan in dividends, with no dividends paid in the last three years [3] Stock Market Activity - As of November 5, Jinhui Electric's stock price increased by 2.06%, reaching 20.31 yuan per share, with a total market capitalization of 2.376 billion yuan [1] - The stock has seen a year-to-date increase of 54.21%, with a 6.78% rise over the last five trading days and a 6.45% increase over the last 20 days, although it has decreased by 20.79% over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" six times this year, with the most recent appearance on August 13 [1] Shareholder Information - As of October 31, the number of shareholders for Jinhui Electric was 16,500, a decrease of 4.86% from the previous period [2] - The average number of tradable shares per shareholder increased by 5.11% to 7,094 shares [2]

Core Insights - The only ETF tracking power grid equipment (159326) has seen a net inflow of funds for seven consecutive days, with a growth of over 480% in size over the past month, and a single-day trading volume exceeding 238 million yuan, setting a historical record [1] Group 1: Market Trends - Microsoft CEO Nadella stated that despite the high demand for AI chips, the real bottleneck is not chip supply but rather the power supply and physical space in data centers, leading to many AI chips remaining in inventory and unable to operate [1] - CITIC Securities noted that in the short to medium term, the demand for transmission and transformation equipment is expected to resonate positively, with structural demand continuing to emerge, particularly in ultra-high voltage and smart grid sectors, which are likely to see a turnaround in market conditions [1] Group 2: ETF Characteristics - The power grid equipment ETF (159326) is the only ETF tracking the CSI Power Grid Equipment Theme Index, with a strong representation in sectors such as transmission and transformation equipment, grid automation equipment, cable components, communication cables and accessories, and distribution equipment [1] - The ultra-high voltage segment has a weight of 64%, the highest in the market, and the top ten holdings include industry leaders such as State Grid NARI, TBEA, Siyuan Electric, and Trina Solar [1]

Core Viewpoint - Ming Tai Aluminum's stock price has experienced fluctuations, with a year-to-date increase of 23.26% but a recent decline of 2.01% in a single trading session, indicating volatility in the market [1]. Group 1: Financial Performance - For the period from January to September 2025, Ming Tai Aluminum achieved a revenue of 25.874 billion yuan, reflecting a year-on-year growth of 9.38% [2]. - The company's net profit attributable to shareholders was 1.404 billion yuan, showing a slight decrease of 0.49% compared to the previous year [2]. - Cumulatively, the company has distributed 1.364 billion yuan in dividends since its A-share listing, with 533 million yuan distributed over the last three years [3]. Group 2: Shareholder and Market Activity - As of September 30, 2025, the number of shareholders for Ming Tai Aluminum increased to 57,200, up by 2.37% from the previous period [2]. - The average number of circulating shares per shareholder decreased by 2.32% to 21,309 shares [2]. - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 82.9587 million shares, an increase of 59.1481 million shares from the previous period [3]. Group 3: Stock Performance and Trading Activity - On November 5, Ming Tai Aluminum's stock price was reported at 14.62 yuan per share, with a trading volume of 190 million yuan and a turnover rate of 1.06% [1]. - The stock has seen a decline of 2.40% over the last five trading days, but a gain of 1.46% over the last 20 days and 15.12% over the last 60 days [1]. - The net inflow of main funds was 3.0914 million yuan, with significant buying and selling activity observed in large orders [1].

Core Viewpoint - Foshan Plastics Technology Co., Ltd. has shown significant stock performance with a year-to-date increase of 53.09% and a recent surge in trading activity, indicating strong investor interest and potential growth in the polymer film industry [1][2]. Financial Performance - For the period from January to September 2025, Foshan Plastics achieved a revenue of 1.662 billion yuan, representing a year-on-year growth of 1.57%. The net profit attributable to shareholders was 83.92 million yuan, reflecting a growth of 0.83% compared to the previous year [2]. - Cumulative cash dividends since the company's A-share listing amount to 798 million yuan, with 140 million yuan distributed over the past three years [3]. Stock Market Activity - As of November 5, the stock price of Foshan Plastics was 9.04 yuan per share, with a trading volume of 335 million yuan and a turnover rate of 3.92%. The total market capitalization reached 8.746 billion yuan [1]. - The stock has seen a net inflow of 9.38 million yuan from main funds, with significant buying activity from large orders, indicating robust market interest [1]. Shareholder Structure - As of October 20, the number of shareholders decreased by 7.48% to 77,300, while the average number of circulating shares per person increased by 8.08% to 12,522 shares [2]. - Hong Kong Central Clearing Limited emerged as the third-largest circulating shareholder, holding 11.7494 million shares as a new investor [3]. Business Overview - Foshan Plastics specializes in the production and sales of advanced polymer functional films, with its main revenue sources being: biaxially oriented films (36.69%), protective materials (19.68%), barrier materials (15.66%), and optical films (9.13%) [1]. - The company operates within the basic chemical industry, specifically in the plastic film materials sector, and is involved in various concept sectors including energy conservation and environmental protection, ultra-high voltage, solar energy, and state-owned enterprise reform [1].

Core Insights - The company held its Q3 2025 earnings briefing on November 4, 2025, with full participation from management and investors, achieving a 100% response rate to questions [1] Group 1: Business Operations - The company is actively involved in the construction of national UHV (Ultra High Voltage) AC and DC transmission lines, providing a range of capacitor assemblies and capacitive voltage transformers, with advantages in product variety, technological leadership, and reliable quality [1] - The company plans to deepen its business in the UHV sector, focusing on the development of dry oil-free capacitors and enhancing technological advantages, particularly in domestic replacements for DC support capacitors used in flexible DC transmission [1] Group 2: Market Demand and Product Applications - The company has seen significant demand for its products in the data center sector, particularly due to the national "East Data West Computing" initiative, which has led to increased electricity demand in the thousands of megawatts [1] - The company provides transformers, medium-voltage cabinets, low-voltage cabinets, bus ducts, and distribution boxes for various data center projects, including those for major telecom operators and internet giants [1] Group 3: International Expansion - The company is accelerating its international strategy and has developed transformers that meet U.S. standards, accumulating project experience overseas [1] - The company has signed multiple overseas projects in countries such as Congo, Thailand, Peru, and Malaysia, with successful delivery of the U.S. Bit Deer 110kV project [1]

Group 1 - The company held a Q3 2025 performance briefing on November 4, 2025, with key executives participating to discuss operational results and financial metrics [1] - The company is involved in the construction of national UHV AC and DC transmission lines, providing a range of capacitor assemblies and capacitive voltage transformers, with plans to enhance its offerings in dry oil-free capacitors and support for domestic alternatives in flexible DC transmission [1] - The company has been actively supplying equipment for data centers, contributing to the growing power demand driven by national initiatives like the "East Data West Computing" project, with products used in various significant data center projects [1] Group 2 - The company is advancing its international strategy, having developed transformers that meet U.S. standards and secured projects in countries such as Congo, Thailand, Peru, and Malaysia, with successful delivery of the U.S. Bit Deer 110kV project [1]