Market Performance - The grid equipment sector increased by 1.12% compared to the previous trading day, with Anke Zhidian leading the gains [1] - The Shanghai Composite Index closed at 4136.16, up 0.33%, while the Shenzhen Component Index closed at 14439.66, up 0.79% [1] Top Gainers in Grid Equipment Sector - Anke Zhidian (300617) closed at 43.99, up 11.20% with a trading volume of 207,700 shares and a transaction value of 906 million [1] - Zhongchao Holdings (002471) closed at 8.56, up 10.03% with a trading volume of 1,191,000 shares and a transaction value of 1.02 billion [1] - Sanbian Technology (002112) closed at 23.96, up 10.01% with a trading volume of 697,500 shares and a transaction value of 1.62 billion [1] Decliners in Grid Equipment Sector - Honglin Power (301439) closed at 17.16, down 3.00% with a trading volume of 210,000 shares and a transaction value of 363 million [2] - Kaifa Electric (300407) closed at 13.42, down 2.89% with a trading volume of 185,700 shares and a transaction value of 249 million [2] - Jiangsu Huachen (603097) closed at 35.20, down 1.95% with a trading volume of 90,600 shares and a transaction value of 326 million [2] Capital Flow Analysis - The grid equipment sector experienced a net outflow of 2.656 billion from institutional investors, while retail investors saw a net inflow of 1.903 billion [2] - The sector's capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Individual Stock Capital Flow - Sanbian Technology (002112) had a net inflow of 296 million from institutional investors, but a net outflow of 118 million from retail investors [3] - Jicheng Electronics (002339) saw a net inflow of 226 million from institutional investors, with a significant net outflow of 103 million from retail investors [3] - Zhongchao Holdings (002471) had a net inflow of 215 million from institutional investors, but also faced a net outflow of 95 million from retail investors [3]

1月23日，A股三大指数小幅收涨，成交再超3万亿。截至收盘，沪指涨0.33%，深成指涨0.79%，创业板 指涨0.63%。北交所个股走强，北证50指数涨超3%。 点评：申万宏源研报称，我国提交超20万颗卫星星座申请，标志着商业航天进入规模化部署新阶段，将 直接带动太空光伏长期需求。太空光伏面临从高效砷化镓到规模化硅基HJT，再到远期钙钛矿叠层的技 术迭代路径。 2、医药商业概念活跃 医药商业概念表现活跃，益丰药房、人民同泰涨停，药易购、华人健康、九州通、老百姓、漱玉平民跟 涨。 点评：消息面上，9部门发布关于促进药品零售行业高质量发展的意见，支持零售药店进行兼并重组。 鼓励药品零售企业依法开展横向并购与重组。中邮证券认为，零售药店行业在2025年逐季加速出清，客 流有望向头部集中。龙头药房凭借其专业化的服务能力、强大的供应链体系等在行业整合阶段强者恒 强。 值得关注的是，数只沪深300ETF盘中多次放量，截至目前，沪深300ETF易方达(510310)成交额达164亿 元创上市来新高，沪深300ETF华泰柏瑞(510300)成交额近190亿元，沪深300ETF华夏(510330)成交额超 115亿元，沪深30 ...

1月23日，电网ETF（561380）盘中涨超2%，资金面看，近10日净流入超14亿元，国家电网四万亿投资 催化。 光大证券指出，国家电网宣布"十五五"期间公司固定资产投资预计达到4万亿元，较"十四五"投资增长 40%，用于新型电力系统建设。电力数字化是新型电力系统重要一环。2025年全社会用电量同比增长 5.0%，其中第三产业用电量同比增长8.2%，城乡居民生活用电量同比增长6.3%。从电价来看，月度代 理购电中运行费用呈现上行趋势，主要原因系容量电价提升及新能源机制电量进入结算周期；代理购电 电量电费全国大范围下行，主要原因系火电年度长协电价大幅下行叠加新能源全面入市，降低代理购电 成本。 （文章来源：每日经济新闻） 电网ETF（561380）跟踪的是恒生A股电网设备指数（HSCAUPG），该指数从中国A股市场中选取主营 涉及电力传输、配电系统及相关服务的上市公司证券作为指数样本，以反映电网设备行业相关上市公司 证券的整体表现。指数成分覆盖电力网络建设、技术升级等多个关键领域，在行业配置上主要集中于制 造业，并包含信息传输、软件和信息技术服务业等。 ...

风险提示：提及个股仅用于行业事件分析，不构成任何个股推荐或投资建议。指数等短期涨跌仅供参 考，不代表其未来表现，亦不构成对基金业绩的承诺或保证。观点可能随市场环境变化而调整，不构成 投资建议或承诺。提及基金风险收益特征各不相同，敬请投资者仔细阅读基金法律文件，充分了解产品 要素、风险等级及收益分配原则，选择与自身风险承受能力匹配的产品，谨慎投资。 （文章来源：每日经济新闻） 1月23日，电网ETF（561380）涨超1.5%，机构解读投资增长与行业趋势。 华福证券指出，"十五五"期间，国家电网固定资产投资预计达4万亿元，较"十四五"投资增长40%，以 扩大有效投资带动新型电力系统产业高质量发展。国家电网将初步建成主配微协同的新型电网平 台，"西电东送、北电南供"能源输送网络进一步巩固，加快特高压直流外送通道建设，跨区跨省输电能 力较"十四五"末提升超过30%，支撑国家"沙戈荒"和西南大型水电清洁基地开发外送。同时，南方电网 广西电网公司初步计划一季度固定资产投资36亿元，同比增长20%，后续将加快电网投资建设，优化主 网架结构，为经济发展提供坚强电力保障。 电网ETF（561380）跟踪的是恒生A股电网设备指 ...

1月23日，A股早盘窄幅震荡，截至午间收盘，沪指涨0.27%，深成指涨0.24%，创业板指下跌0.17%。 值得注意的是，商业航天带火太空光伏概念，华西证券指出，太空光伏是太空算力数据中心的唯一主能 源与系统级成本拐点，高日照效率与近乎零边际电价让轨道数据中心十年总成本较地面下降一个数量 级。它已成为商业航天和高端应用（如太空算力、数据中心、未来月球基地等）的战略性前沿解决方 案，太空光伏正在迎来其拐点时刻。 此外，值得关注的是，10点后多只宽基ETF集中放量，沪深300ETF华泰柏瑞成交超50亿，南方中证 1000ETF成交超44亿，华夏中证1000ETF成交超35亿，嘉实沪深300ETF、沪深300ETF华夏成交额均超 30亿。 盘面上，商业航天引爆太空光伏涨停潮，钧达股份等超10多股涨停，与此同时，商业航天产业链延续强 势，巨力索具3连板；有色、贵金属概念再度走强，白银有色4连板；医药商业、创新药等医药股概念强 势，益丰药房涨停；传媒等AI应用概端持续反弹，浙文互联4天2板；电网设备概念拉升，三变科技涨 停。下跌方面，燃气、煤炭等周期资源回调，保险、半导体等板块跌幅居前。 展望后市，德邦证券认为，近日市 ...

Group 1 - The core viewpoint of the news is that the power grid equipment sector is experiencing a significant boost due to increased investment and demand, with the State Grid's fixed asset investment expected to reach 4 trillion yuan during the 14th Five-Year Plan, marking a 40% increase from the previous plan [1] - The electricity consumption in China is projected to reach 10,368.2 billion kilowatt-hours by 2025, reflecting a year-on-year growth of 5%, with December's consumption at 908 billion kilowatt-hours, up 2.77% year-on-year [1] - The demand side is seeing steady growth in electricity consumption driven by new demands such as electric vehicles and AI computing, while the supply side is facing challenges due to the rapid increase in renewable energy installations, leading to a mismatch with existing grid capacity [2] Group 2 - The construction of external transmission channels (such as ultra-high voltage and main networks) and the enhancement of regulation capabilities (including energy storage and distribution networks) are identified as key solutions to the challenges faced by the power grid [2] - Policies are further solidifying long-term opportunities in areas such as ultra-high voltage, flexible direct current transmission, and smart grid development, indicating a potential market rebound in these sectors [2] - The Tianhong CSI Power Grid Equipment Theme Index closely tracks the performance of 80 listed companies involved in ultra-high voltage and smart grid construction, reflecting the overall performance of the power grid equipment sector [2]

根据喜娜AI异动分析，新联电子涨停原因可能如下，治理优化+资产盘活+虚拟电厂： 1、公司近期治理 结构优化动作显著，取消监事会、修订多项管理制度，提升了决策效率，符合现代公司治理趋势。同时 转让闲置房产及参股公司股权，盘活资产回笼资金超1.6亿元，优化了资产结构。这些举措增强了市场 对公司的信心。 2、公司在智能用电和虚拟电厂数据服务领域具备技术积累，契合当前电力行业智能 化、数字化的发展趋势。随着虚拟电厂概念的逐渐升温，市场对相关企业的关注度提升，公司的业务布 局带来了一定的想象空间。 3、从资金流向看，2026年1月19日龙虎榜显示游资、机构净买、外资净 买，1月22日龙虎榜显示机构净买，资金的流入对股价上涨起到推动作用。且公司所属电网设备板块， 板块的整体表现也会对其股价产生影响。 2026年1月23日，新联电子（sz002546）触及涨停，涨停价9.87元，涨幅8.25%，总市值80.99亿元，流通 市值77.80亿元，截止发稿，总成交额9.04亿元。 声明：市场有风险，投资需谨慎。本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形 ...

Group 1 - The energy sector is experiencing a significant rally, with the photovoltaic sector leading the gains, as evidenced by the 5.57% increase in the Huaxia Photovoltaic ETF and a 3.53% rise in the Huaxia New Energy ETF [1] - NVIDIA's founder Jensen Huang presented the "five-layer cake" theory of AI at the Davos World Economic Forum, emphasizing that energy is the "fuel" for AI, and that substantial investments in infrastructure, amounting to trillions of dollars, are necessary to support AI development [2] - Elon Musk announced at the Davos Forum that Tesla and SpaceX plan to build a total of 200GW of photovoltaic capacity in the U.S. over the next three years, significantly exceeding market expectations of 10-20GW annually, marking a strategic shift in the photovoltaic industry towards "AI computing power + energy infrastructure" [2] Group 2 - The Electric Grid Equipment ETF (159326) has over 60% weight in ultra-high voltage, 55% in smart grid, and 14% in controllable nuclear fusion, with key stocks including State Grid NARI, TBEA, and Sifang Electric. This ETF has seen a net inflow of 11.7 billion yuan since the beginning of the year, ranking first in its category [3] - The Huaxia Photovoltaic ETF (515370) covers high-purity photovoltaic industries, with key stocks such as TBEA, LONGi Green Energy, and Sungrow Power Supply [3] - The Huaxia New Energy ETF (159368) has over 70% weight in energy storage and solid-state batteries, featuring key stocks like CATL, Inovance Technology, and EVE Energy [3] - The Green Power ETF (562550) focuses on the entire electricity transition chain, with core stocks including Yangtze Power and Three Gorges Energy, which are major players in hydropower and renewable energy operations in China [3]

Market Overview - The power equipment sector experienced a decline of 1.08% on the previous trading day, with Xinlian Electronics leading the drop [1] - The Shanghai Composite Index closed at 4122.58, up 0.14%, while the Shenzhen Component Index closed at 14327.05, up 0.5% [1] Stock Performance - Notable gainers in the power equipment sector included: - Honglin Electric (301439) with a closing price of 17.69, up 10.15% and a trading volume of 302,300 shares, totaling 530 million yuan [1] - Zhongchao Holdings (002471) at 7.78, up 10.04% with a volume of 619,600 shares, totaling 482 million yuan [1] - Great Wall Electric (600192) at 11.22, up 10.00% with a volume of 436,400 shares, totaling 487 million yuan [1] - Conversely, significant decliners included: - Xinlian Electronics (002546) at 8.97, down 7.33% with a trading volume of 1,625,200 shares, totaling 1.479 billion yuan [2] - Benming Equipment (002270) at 31.93, down 4.52% with a volume of 254,800 shares, totaling 821 million yuan [2] - Haixing Electric (603556) at 39.76, down 4.51% with a volume of 75,600 shares, totaling 305 million yuan [2] Capital Flow - The power equipment sector saw a net outflow of 3.817 billion yuan from institutional investors, while retail investors contributed a net inflow of 4.092 billion yuan [2] - Key stocks with significant capital flow included: - Zhongchao Holdings (002471) with a net inflow of 2.43 billion yuan from institutional investors, but a net outflow of 969.17 million yuan from speculative funds [3] - Great Wall Electric (600192) with a net inflow of 2.11 billion yuan from institutional investors, but a net outflow of 1.13 billion yuan from speculative funds [3] - Honglin Electric (301439) with a net inflow of 691.17 million yuan from institutional investors, but a net outflow of 270.86 million yuan from speculative funds [3]

智通财经APP获悉，国盛证券发布研报称，展望2026年，AIDC和缺电为核心投资主线。随着互联网巨 头AICAPEX持续加码，有望推动HVDC需求进一步增长。看好在全球电网建设背景下，叠加美国电力 紧张，中国变压器出海。当前燃机三巨头订单排至2028年，看好燃机三巨头涡轮叶片、压气机叶片、燃 烧室以及涡轮轮盘热端部件供应商。海外柴发头部企业扩产趋于保守，国内厂商迎来了替代机遇。 国盛证券主要观点如下： 展望2026年，AIDC和缺电为核心投资主线 截至2025年12月31日，电网设备板块2025年累计上涨33.6%，同期沪深300指数上涨17.7%，电网设备板 块显著跑赢大盘。展望2026年，该行认为核心把握AIDC主线和缺电。 AIDC：UPS市场规模稳步增长，HVDC高压直流方案为确定性产业趋势，SST适配800VHVDC有望加 速落地。 美国电力告急，据国际能源署数据显示，到2035年，美国数据中心用电需求会从现在的每年200太瓦 时，猛增到640太瓦时，相当于德国全国一年的用电量。SemiAnalysis跟踪数据显示，目前在得克萨斯 州，每月都有几十GW的数据中心用电申请，但电网能批下来的只有1GW出 ...