Group 1 - The core viewpoint of the news highlights the positive market response to the commencement of the Yarlung Tsangpo River downstream hydropower project, which involves the construction of five cascade power stations with a total investment of approximately 1.2 trillion yuan, primarily focusing on power transmission and consumption [1] - The public utility ETF (560190.SH) has seen an increase of 0.91%, with significant gains in major constituent stocks such as Datang Power (up 6.02%) and Huaneng International (up 1.85%), reflecting market optimism regarding industry policy support and infrastructure investment [1] - The Ministry of Industry and Information Technology is set to issue a work plan to stabilize growth in the power equipment sector, which is expected to enhance the quality of supply capacity, further benefiting the public utility sector, especially hydropower and power operators [1] Group 2 - According to GF Securities, the public utility sector has shown a steady upward trend since 2020, outperforming the CSI 300 index by 32.92 percentage points as of July 18, 2025, with current sample stock PE-TTM at 16.99 times, indicating a historical low valuation level [2] - The industry is characterized by strong dividend capabilities due to stable free cash flow, with the latest dividend yield of the CSI All Index Free Cash Flow Index at 4.37%, suggesting that companies in this sector can provide ample cash flow and perform relatively well in volatile markets [2] Group 3 - Related products include the public utility ETF (560190) [3] - Associated stocks in the sector include Yangtze Power, China Nuclear Power, Three Gorges Energy, Guodian Power, Guotou Power, Yongtai Energy, Huaneng International, Chuanwei Energy, China General Nuclear Power, and Zhejiang Energy [3]

Group 1 - The public utility ETF (560190.SH) increased by 0.71%, with its associated index, the All Public Utility Index (000995.CSI), rising by 0.80% [1] - Key constituent stocks such as Changjiang Electric Power, China Nuclear Power, and Guotou Power saw significant gains, with increases of 1.35%, 1.47%, and 2.97% respectively [1] - The Ministry of Water Resources anticipates continuous rainfall in the central and northern regions of the Pearl River Basin, potentially leading to flood conditions, which has triggered a level IV flood emergency response [1] Group 2 - The increase in rainfall is expected to boost hydropower generation and performance for water electricity companies like Changjiang Electric Power and Guotou Power, contributing to their stock price increases [1] - Guosen Securities highlighted supportive policies such as the Guangdong Document No. 136 and Zhejiang's encouragement for computing centers to participate in long-term electricity trading, which bolster the public utility sector [1] - The public utility index rose by 0.08% this week, with the water electricity sector performing particularly well, increasing by 0.87% [1]