没有股票账户的投资者可关注国泰中证基建ETF发起联接C（016837），国泰中证基建ETF发起联接A （016836）。 注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不预示 未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参考，不 构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险等级相 匹配的产品。基金有风险，投资需谨慎。 消息面上，2025年8月6日世界最大跨度斜拉桥完成通车前关键测试，标志着重大桥梁工程取得阶段性进 展。 西部证券指出，建筑建材行业正处于景气底部，随着积极政策加码，行业景气度有望企稳回升，行业龙 头估值有望迎来提升趋势。中共中央政治局会议提出高质量推动"两重"建设，激发民间投资活力，扩大 有效投资，宏观政策将持续发力。当前建筑板块估值处于历史较低水平，市盈率仅8.72倍，建材板块为 19.67倍，随着政策效应释放，行业供需态势有望逐步改善。 基建ETF（159619）跟踪的是中证基建指数（930608），该指数从沪深市场中选取与基础设施建设相关 的上市公司证券作为指数样本，覆盖建筑 ...

Group 1 - The construction and infrastructure sectors are expected to improve in terms of market sentiment, with a notable increase in orders from state-owned construction enterprises in the second quarter [1] - The issuance of new local government special bonds reached 54.29% of the total planned for 2025, representing a year-on-year increase of 13.94 percentage points, with a month-on-month increase of 490.45% in July [1] - The Ministry of Industry and Information Technology is set to release a work plan to stabilize growth in the building materials sector, which is anticipated to alleviate supply-demand conflicts in the cement industry under the anti-involution policy [1] Group 2 - The current price-to-earnings ratio for the construction sector is at a historical low of 8.53 times, while the infrastructure sub-sector has a valuation of 7.58 times, indicating potential for recovery [1] - The China Infrastructure ETF (159619) tracks the CSI Infrastructure Index (930608), which includes listed companies involved in construction, building materials, and engineering machinery, reflecting the overall performance of the infrastructure sector [1] - Investors without stock accounts can consider the Guotai CSI Infrastructure ETF Initiated Link C (016837) and Guotai CSI Infrastructure ETF Initiated Link A (016836) [1]

Core Viewpoint - The infrastructure ETF (159619) has risen over 4.6%, driven by urbanization transformation and stable growth policies that may boost industry expectations [1] Group 1: Urbanization and Infrastructure Development - China's urbanization phase is transitioning from rapid growth to stable development, focusing on enhancing existing urban areas for high-quality development [1] - Key tasks include establishing a new model for real estate development, advancing the renovation of urban villages and dilapidated housing, and emphasizing urban renewal [1] - There is a push to upgrade urban infrastructure, including old pipeline renovations and the networking of urban clusters and metropolitan areas [1] - The focus on green and low-carbon development aims to enhance the safety of urban infrastructure and improve ecological environment management [1] - Future urbanization will emphasize the construction of medium and large cities and metropolitan areas, prioritizing structural optimization, quality enhancement, and governance efficiency [1] Group 2: Infrastructure ETF Overview - The infrastructure ETF (159619) tracks the CSI Infrastructure Index (930608), which selects listed companies in construction, engineering machinery, and other related fields from the A-share market [1] - The index covers multiple infrastructure sectors, including railways, highways, water conservancy, and electricity, reflecting the overall performance of listed companies in infrastructure construction [1] - Investors without stock accounts can consider the Guotai CSI Infrastructure ETF Initiated Link C (016837) and Guotai CSI Infrastructure ETF Initiated Link A (016836) [1]