截至2025年7月22日 13:18，国证绿色电力指数上涨0.84%，成分股大唐发电上涨9.89%，南网储能上涨3.28%，节能风电上涨2.62%，国投电力上涨2.57%，华 能水电上涨2.20%。绿色电力ETF(159625)上涨0.68%， 冲击4连涨。 流动性方面，绿色电力ETF盘中换手3.03%，成交951.28万元。拉长时间看，截至7月21日，绿色电力ETF近1周日均成交2238.34万元。 规模方面，绿色电力ETF近1周规模增长1361.77万元，实现显著增长，新增规模位居可比基金第一。份额方面，绿色电力ETF近1周份额增长840.00万份，新 增份额位居可比基金第一。 场外投资者可通过对应的绿色电力ETF联接基金（017057）把握投资机会。 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 从估值层面来看，绿色电力ETF跟踪的国证绿色电力指数最新市盈率（PE-TTM）仅18.77倍，处于近3年18.64%的分位，即估值低于近3年81.36%以上的时 间，处于历史低位。 数据显示，截至2025年6月30日，国证绿色电力指数前十大权重股分别为长江电力、三峡能源、中国核电、国投 ...

截至2025年6月6日 13:58，国证绿色电力指数上涨0.31%，成分股湖南发展涨停，三峡水利上涨1.32%，大唐发电上涨1.26%，华能国际上涨1.25%，国电电力 上涨1.09%。绿色电力ETF(159625)红盘震荡。 流动性方面，绿色电力ETF盘中换手3.17%，成交1083.31万元。拉长时间看，截至6月5日，绿色电力ETF近1月日均成交1932.35万元。 规模方面，绿色电力ETF近3月规模增长6555.78万元，实现显著增长，新增规模位居可比基金第一。份额方面，绿色电力ETF近1周份额增长200.00万份，实 现显著增长，新增份额位居可比基金第一。 据国家能源局披露，截至今年4月底，我国可再生能源发电装机达到20.17亿千瓦，同比增长58%；风电、光伏、核电装机达到15.3亿千瓦，历史性超过火电 装机。 中信证券研报指出，《关于有序推动绿电直连发展有关事项的通知》为国家层面首个涉及绿电直连的政策许可及规范；推出绿电直连政策，有助于新能源就 近消纳、满足用户实际绿电需求以及实现终端用户降本等多重目的；政策兼顾公平及效率，直连项目需要承担输配电费及系统运行费用等，但也可通过减少 并网容量需求等方式 ...

Group 1 - The core viewpoint highlights the significant growth of the green power ETF, with a trading volume of 6.1863 million yuan and a 1.81% turnover rate, indicating strong market interest [1] - Over the past three months, the green power ETF has seen an increase in scale by 68.9715 million yuan, ranking first among comparable funds [1] - The ETF's share count has grown by 49.2 million shares in the last three months, also leading among comparable funds [1] Group 2 - The current price-to-earnings ratio (PE-TTM) of the index tracked by the green power ETF is 18.67, which is below 85.57% of the historical data over the past three years, indicating a low valuation [1] - The top ten weighted stocks in the index account for 58.12% of the total, with major companies including Changjiang Electric Power and China Nuclear Power [1] - Recent government initiatives aim to enhance the electricity service environment, promoting energy efficiency and the use of green electricity, which may benefit companies in the sector [1] Group 3 - In 2024, multiple policies are expected to create a stable market environment for renewable energy operators, leading to a stabilization in the industry [2] - The upcoming national energy work conference in 2025 is anticipated to further integrate renewable energy into the electricity market [2] - The market has likely priced in expectations for electricity volume and pricing in the renewable energy sector, with potential positive changes from green certificates and subsidies [2]

Group 1 - The National Green Power Index decreased by 0.32% as of May 27, 2025, with mixed performance among constituent stocks [1] - Jiangsu New Energy hit the daily limit up, while Leshan Power and Zhejiang New Energy rose by 6.03% and 4.42% respectively [1] - The Green Power ETF (159625) underwent a downward adjustment [1] Group 2 - The Green Power ETF had a turnover rate of 3.19% during the trading session, with a transaction volume of 10.9867 million yuan [3] - Over the past week, the average daily transaction volume of the Green Power ETF was 21.4205 million yuan [3] - The Green Power ETF's scale increased by 80.0735 million yuan over the past three months, ranking first among comparable funds [3] Group 3 - As of April 30, 2025, the top ten weighted stocks in the National Green Power Index accounted for 58.04% of the index, including major companies like China Yangtze Power and China Nuclear Power [3] - The State Council approved the "Manufacturing Industry Green Low-Carbon Development Action Plan (2025-2027)" on May 23, emphasizing the need for green technology innovation and application [3] Group 4 - According to Guojin Securities, the investment value of the power industry is highlighted by market reforms, defensive value, and a tight supply-demand balance [4] - The clean energy generation market has significant growth potential in the context of carbon neutrality, with increasing electricity consumption and a rising share of wind and solar power [4] - The transition to renewable energy generation and deepening market reforms are transforming cost and revenue structures for power plants, enhancing the long-term investment and allocation value of the green power sector [4] Group 5 - Investors can seize opportunities through the corresponding Green Power ETF linked fund (017057) [5]

Group 1 - The core viewpoint highlights the significant growth and investment potential in the green power sector, particularly through the green power ETF, which has seen substantial increases in both trading volume and scale [2][3] - The green power ETF has recorded a trading turnover of 2.21% and a transaction volume of 7.5783 million yuan, with an average daily transaction volume of 21.192 million yuan over the past month [2] - The ETF's scale has increased by 76.5056 million yuan over the past three months, ranking first among comparable funds, with a share increase of 58 million units during the same period [2] Group 2 - The current price-to-earnings ratio (PE-TTM) of the index tracked by the green power ETF is 18.88, which is below the historical average, indicating a low valuation compared to the past three years [2] - The top ten weighted stocks in the National Green Power Index account for 58.04% of the index, including major companies like China Yangtze Power and China Nuclear Power [2] - The recent approval of five nuclear power projects by the State Council, featuring ten new units, is expected to boost the nuclear power sector, which is anticipated to benefit from the demand for AI and self-controlled technology [2]

截至2025年5月19日 10:33，国证绿色电力指数上涨0.71%，成分股湖南发展涨停，电投产融上涨4.99%，乐山电力上涨1.98%，华能水电上涨1.65%，广西能 源上涨1.64%。绿色电力ETF(159625)上涨0.70%。拉长时间看，截至2025年5月16日，绿色电力ETF近2周累计涨幅排名可比基金第一。 数据显示，截至2025年4月30日，国证绿色电力指数前十大权重股分别为长江电力、中国核电、三峡能源、国投电力、川投能源、中国广核、华能国际、华 能水电、国电电力、申能股份，前十大权重股合计占比58.04%。 2025年3月，发改委发布《关于促进可再生能源绿色电力证书市场高质量发展的意见》，首次全面提出行业绿电消费比例要求，加快提升钢铁、有色、建 材、石化、化工等行业企业和数据中心，以及其他重点用能单位和行业的绿色电力消费比例，到2030年原则上不低于全国可再生能源电力总量消纳责任权重 平均水平；国家枢纽节点新建数据中心绿色电力消费比例在80%基础上进一步提升。 开源证券认为，近期政策端持续加码，2024年发改委提出电解铝行业绿色电力消费目标，并要求使用绿证核算，2025年开始考核。据中国信通院预 ...

截至2025年5月15日 10:59，国证绿色电力指数上涨0.01%，成分股京运通上涨7.58%，华能国际上涨1.21%，湖南发展上涨1.09%，明星电力上涨1.05%，国电 电力上涨0.88%。绿色电力ETF(159625)冲击3连涨。 从估值层面来看，绿色电力ETF跟踪的国证绿色电力指数最新市盈率（PE-TTM）仅18.81倍，处于近3年15.99%的分位，即估值低于近3年84.01%以上的时 间，处于历史低位。 数据显示，截至2025年4月30日，国证绿色电力指数前十大权重股分别为长江电力、中国核电、三峡能源、国投电力、川投能源、中国广核、华能国际、华 能水电、国电电力、申能股份，前十大权重股合计占比58.04%。 消息面方面，在近日举办的"中国绿证：畅行中国 走向世界——绿证走进粤港澳大湾区"活动上，全球绿色电力消费倡议（RE100）宣布全面认可中国绿证， 意味着我国和倡议伙伴都可以放心采用绿证，更便捷地核证其采购的可再生能源电力，我国可再生能源转型取得重要进展。 中邮证券表示，绿电和储能的价值有望先后得到重估，新能源作为绿色的波动性电源，其内在价值量应减去"波动"的负外部性，并加上"绿色"的正外部性 ...

Core Viewpoint - The green power sector is experiencing significant growth, driven by increasing demand for renewable energy and supportive government policies, with the National Green Power Index showing positive performance and the Green Power ETF gaining traction in the market [1][3][4]. Group 1: Market Performance - As of May 9, 2025, the National Green Power Index increased by 0.49%, with key stocks such as Jingyuntong up by 4.58% and Jiazhe New Energy up by 4.55% [1]. - The Green Power ETF (159625) has seen a 0.44% increase, marking its fourth consecutive rise [1]. - The trading volume for the Green Power ETF was 3.5%, with a total transaction value of 13.7257 million yuan [3]. Group 2: Fund Growth - Over the past two weeks, the Green Power ETF's scale has grown by 6.029 million yuan, leading among comparable funds [3]. - The ETF's shares increased by 6.8 million units in the same period, also ranking first among comparable funds [3]. - In the last 19 trading days, the Green Power ETF attracted a total of 22.647 million yuan in inflows [3]. Group 3: Valuation Metrics - The latest price-to-earnings ratio (PE-TTM) for the Green Power ETF is 18.55, which is in the 13.64% percentile over the past three years, indicating a valuation lower than 86.36% of the time in the same period [3]. Group 4: Industry Trends - As of April 30, 2025, the top ten weighted stocks in the National Green Power Index accounted for 58.04% of the index, including major players like Changjiang Electric and China Nuclear Power [3]. - With the summer peak electricity demand approaching, the power industry is entering a traditional high season, coupled with an accelerated energy revolution and strong demand for green electricity [3]. - In the first quarter of 2025, the total installed capacity of wind and solar power in China reached 1.482 billion kilowatts, surpassing traditional thermal power capacity of 1.451 billion kilowatts for the first time [3]. Group 5: Government Policy - The 2025 government work report maintains a strong commitment to "green transformation," with a focus on the power sector and expectations for increased green electricity demand due to improved supply pressures and policy direction [4].

截至2025年5月6日 13:10，国证绿色电力指数上涨0.75%，成分股京运通、华银电力10cm涨停，晓程科技上涨5.83%，乐山电力上涨5.26%，西昌电力上涨 4.10%。绿色电力ETF(159625)上涨0.81%。 从估值层面来看，绿色电力ETF跟踪的国证绿色电力指数最新市盈率（PE-TTM）仅18.37倍，处于近3年12.08%的分位，即估值低于近3年87.92%以上的时 间，处于历史低位。 数据显示，截至2025年4月30日，国证绿色电力指数前十大权重股分别为长江电力、中国核电、三峡能源、国投电力、川投能源、中国广核、华能国际、华 能水电、国电电力、申能股份，前十大权重股合计占比58.04%。 东方证券指出，招中标延续增长趋势，行业景气度有望继续提升。、2025Q1国内公开招标市场新增招标量28.6GW，同比增长22.7%。由于24年国内招标数 据亮眼，市场普遍对于25年国内风电景气度抱有积极预期，但同时也会担忧景气度的持续性，随着25Q1招标数据展现较为稳健的同比增长，一定程度对风 电后续景气度给到支撑。 据国内海关数据统计，我国风机3月出口1.46亿美元，环比+86.81%，同比+50.54 ...

Group 1 - The National Green Power Index has decreased by 0.61% as of April 30, 2025, with mixed performance among constituent stocks, where Shenzhen Energy led with a rise of 3.21% [1] - The Green Power ETF (159625) has seen a significant increase in scale, growing by 23.4 million yuan this month, and its shares have increased by 21.2 million [3] - The latest price-to-earnings ratio (PE-TTM) for the Green Power ETF is 18.26, indicating it is at a historical low, being below 88.82% of the time over the past three years [3] Group 2 - The National Energy Administration reported a rapid growth in non-fossil energy generation capacity in the first quarter, with wind and solar power capacity increasing by 17.2% and 43.4% year-on-year, respectively [3] - Coal prices have dropped to around 665 yuan per ton, which is expected to improve profitability for thermal power generation [4] - Companies are advised to focus on investment opportunities in the power sector, particularly in undervalued green energy stocks and thermal power [4]