E Fund's Power Grid Equipment ETF (560390) "attracted" over 600 million in the past 10 days
As of 10:17, the Hang Seng A-Share Grid Equipment Index (HSCAUPG.HI) fell 0.71%. Among the constituent stocks, Siyuan Electric rose 0.26%, TBEA rose 0.71%, NARI Technology fell 1.42%, Hengtong Optic-Electric fell 0.45%, Zhongtian Technology rose 0.6%, Hongfa Group fell 0.9%, China XD Electric fell 2.47%, Jingda Shares fell 0.13%, Jinpan Technology rose 0.2%, and Orient Cable rose 3.23%. As of March 12, the Hang Seng A-Share Grid Equipment Index has risen 133.22% over the past year.
Since its listing, the E Fund Grid Equipment ETF (560390) has been favored by capital, with net inflows for two consecutive days. It has "attracted" over 370 million yuan in the past 5 days and over 610 million yuan in the past 10 days.
Currently, the global power grid is facing the dual pressures of "aging urgency + surging demand." Major investment plans in core economies like Europe and the US are being implemented intensively, becoming a solid "engine" for overseas demand. Chinese companies, leveraging their comprehensive advantages in "technology + capacity + delivery + cost-effectiveness," have directly become the "preferred choice" for the spillover of global demand. The delivery cycle for transformers from Chinese manufacturers is only 1/4 to 1/5 of that overseas. While the US takes 2.5 years, we only need 6-9 months, easily meeting the urgent expansion needs of the global power grid.
Huafu Securities points out that a new cycle of power grid investment in the "15th Five-Year Plan" is beginning: the acceleration of UHV project approvals combined with the explosion of supporting energy storage demand. As the opening year of the "15th Five-Year Plan," 2026 sees UHV projects in multiple regions like Shanxi, Inner Mongolia, Chongqing, and Shandong intensively entering the "proposed for approval" list, marking that power grid investment across four major dimensions—cross-provincial power transmission, regional mutual support, supporting desert/gobi/barren land projects, and strengthening the main grid—is about to enter a new round of prosperity. Inner Mongolia is sprinting towards the second Beijing-Tianjin-Hebei UHV channel, marking the intensive implementation phase of transmission channels for large-scale "desert/gobi/barren land" new energy bases, alongside a surge in regional energy storage support demand. Order visibility for leading UHV core equipment and tower/cable suppliers has significantly improved, and energy storage system integrators will also directly benefit from the rigid demand for absorbing power from the large-scale new energy bases in Northwest China.
The E Fund Grid Equipment ETF (560390) closely tracks the Hang Seng A-Share Grid Equipment Index. The top three industry distributions are: power transmission and transformation equipment (47.1%), power electronics and automation (23.6%), and cables (11.1%). The top five constituent stocks—TBEA, Siyuan Electric, NARI Technology, Zhongtian Technology, and Hengtong Optic-Electric—account for 40.7% combined. The leading advantages in the power grid industry are very obvious, giving the index prominent strengths.
With multiple factors converging, the grid equipment sector is ushering in a historic opportunity. The E Fund Grid Equipment ETF (560390) provides an efficient tool to capture the trend dividends of this high-growth grid equipment sector and is worthy of medium- to long-term attention.
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