Group 1 - The electric grid equipment industry in China is experiencing dual opportunities driven by technological upgrades and policy support, particularly in the context of ultra-high voltage (UHV) as a necessity for energy transition [1] - The demand for Gas Insulated Transmission Lines (GIL) is expected to expand during the 14th Five-Year Plan period, indicating a robust development outlook for the sector [1] - New technologies such as AI and blockchain are increasingly empowering the operation of renewable energy, facilitating a shift from a construction-heavy focus to an operation-centric phase in the industry [1] Group 2 - The RWA (Real World Asset) platform has launched in Hong Kong, with renewable energy RWA becoming a representative of "Chinese characteristics" due to its stability and green finance attributes, enhancing the integration of electric grid assets with financial innovation [1] - The Electric Grid ETF (561380) tracks the Hang Seng A-share Electric Grid Equipment Index (HSCAUPG), which reflects the overall performance of listed companies in the electric grid and power equipment sector in China [1] - Investors without stock accounts can consider the Guotai Hang Seng A-share Electric Grid Equipment ETF Initiated Link A (023638) and Link C (023639) for exposure to this sector [1]

消息面上，2025年8月8日中美斯德哥尔摩经贸会谈联合声明发布，涉及电网设备等领域的合作议 题；相关数据显示6月变压器出口总额创历史新高，单月出口金额达56.5亿元，同比增长47.8%，显示海 外电网设备需求持续增长。 电网ETF（561380）跟踪的是恒生A股电网设备指数（HSCAUPG），该指数从市场选取主营业务 涉及电力传输、配电系统及相关设备制造的上市公司证券作为指数样本，旨在反映电网设备行业上市公 司的整体表现。指数成分股覆盖能源基础设施的关键领域，重点关注电力网络建设与技术升级产业链， 具有鲜明的行业代表性和专业聚焦特征。 没有股票账户的投资者可关注国泰恒生A股电网设备ETF发起联接A（023638），国泰恒生A股电网 设备ETF发起联接C（023639）。 每日经济新闻 （责任编辑：董萍萍 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 注：如提及个股仅供参考，不代表投资建议。指数/基金 ...

Group 1 - The Ganjian-Gannan UHV AC project has been officially included in the national power development plan, marking a significant step in upgrading the backbone network in the Central China region [1] - UHV technology is essential for China's energy transition, with both AC and DC technologies expected to form a synergistic ecosystem, maintaining steady development during the 14th Five-Year Plan period [1] - The ongoing construction of the main grid will drive demand for related equipment, indicating positive changes in the industry fundamentals [1] Group 2 - The Electric Power ETF (561380) tracks the Hang Seng A-Share Electric Power Equipment Index (HSCAUPG), which is compiled by Hang Seng Index Company and reflects the overall performance of listed companies involved in power grid construction and operation [1] - The index focuses on the electric equipment sector, selecting representative companies in the industry to provide investors with an important benchmark for measuring the development of the electric power equipment industry [1] - Investors without stock accounts can consider the Guotai Hang Seng A-Share Electric Power Equipment ETF Initiated Link A (023638) and Link C (023639) [1]

Group 1 - The photovoltaic industry is undergoing supply-side reforms, with the National Development and Reform Commission focusing on "anti-involution," leading silicon material companies to raise prices to cover comprehensive costs due to long-term losses [1] - The wind power sector is benefiting from marine power policies, with a significant increase in offshore wind project bids and a year-on-year increase of 801% in new onshore wind installations in May [1] - In the power equipment sector, stablecoin-related RWA is expanding financing models for renewable energy assets, alleviating cash flow pressures for companies, while AI and blockchain technologies are increasingly empowering renewable energy operations [1] Group 2 - The ultra-high voltage sector is entering a catalytic phase, with expected increased demand for main network equipment [1] - Overall, the power equipment industry is experiencing positive fundamental changes and potential catalysts across various sectors [1] - The Electric Power Equipment ETF tracks the Hang Seng A-share Electric Power Equipment Index, which reflects the overall performance of listed companies in the electric power equipment manufacturing and transmission sectors [1]

Group 1 - The core viewpoint is that the new power system is experiencing steady demand growth, with significant investment increases from State Grid and Southern Grid [1] - In the first quarter, State Grid's investment in the grid surged by 27.7% year-on-year, reaching a historical high, with accelerated equipment upgrades and renovations [1] - By 2025, State Grid and Southern Grid are projected to exceed investment scales of 650 billion yuan and 175 billion yuan respectively, totaling over 825 billion yuan, indicating a rapid advancement in grid construction [1] Group 2 - The dual carbon strategy is deepening, leading both major grids to continue enhancing the construction of the new power system, which will boost the capacity for renewable energy consumption and inject strong momentum into energy transition [1] - The Electric Grid ETF (code: 561380) tracks the Hang Seng A-share Electric Grid Equipment Index (code: HSCAUPG), which includes listed companies involved in electric grid equipment manufacturing and services [1] - Investors without stock accounts can consider the Guotai Hang Seng A-share Electric Grid Equipment ETF Initiated Link A (023638) and Link C (023639) [1]

Group 1 - The National Energy Administration of China announced on June 5 the initiation of pilot projects for the construction of a new power system, focusing on seven areas including grid technology and smart microgrids [1] - According to CITIC Securities, global demand for power equipment has entered an upward cycle, driven by strong demand from renewable energy installations, grid upgrades, and data centers [1] - The International Energy Agency predicts that global electricity consumption will continue to grow at an annual rate of nearly 4% until 2027 [1] Group 2 - On the supply side, the global supply-demand balance remains tight, with the average delivery time for large power transformers nearly doubling since 2021, and transformer prices increasing by approximately 75% since 2019 [1] - China, as a major power equipment manufacturing country, has seen a favorable export environment, with power transformer exports exceeding 13 billion yuan from January to April 2025, marking a year-on-year increase of around 50% [1] - Large-capacity transformers are identified as the core source of this growth in exports [1]