On May 26th, the power sector experienced a partial rally. Shanghai Electric Power Co.,Ltd. surged to the daily limit-up, while Jingneng Electric Power gained over 7%. Companies including Huaneng Mengdian, Zheneng Electric Power, and Huaneng Hydropower rose by more than 2%. Among popular ETFs, the Huabao Power ETF (159146), which offers a comprehensive "wind, solar, hydro, thermal, and nuclear" energy portfolio, opened lower but moved higher throughout the day, aiming for its third consecutive positive close on the daily chart. The fund has seen continuous capital inflows for four days, with net purchases exceeding 90 million yuan.
EB SECURITIES analysts believe the power sector is leveraging the theme of computing-power synergy while maintaining a balanced defensive allocation. Although electricity prices are expected to face pressure in 2026, potentially impacting the sector's fundamentals, the "computing-power" theme has become a key narrative for the sector's defensive logic. For the computing-power segment itself, continuous policy support across regions and the successive commercialization of specific projects contribute to robust industry sentiment.
The El Niño phenomenon is another significant theme, characterized by an increase in extreme weather events. If it becomes a market focus during June-July, the power stock rally may continue. The National Climate Center predicts El Niño conditions will emerge in May. If El Niño intensifies in June-July, leading to an overall increase in power load, spot market electricity prices are expected to rise both year-on-year and month-on-month, potentially sustaining the power stock rally.
The Huabao Power ETF (159146) and its feeder fund (code: 026949) focus on the power utility sector, providing comprehensive exposure to thermal, hydro, wind, nuclear, and solar power. This strategy allows investors to capture the growth potential from the expansion of new energy installations while relying on the high dividends and stable cash flows of traditional power leaders to mitigate market volatility, achieving a dual fit of "defensive foundation + growth elasticity."
Data Source: Shanghai and Shenzhen Stock Exchanges, etc.
ETF Fee Information: When subscribing for or redeeming fund shares, subscription/redemption agents may charge a commission not exceeding 0.5%. On-exchange trading fees are subject to the actual charges by securities firms. No sales service fee is charged.
Huabao CSI All Share Power Utilities ETF Feeder Fund Fee Information: ① Subscription Fee: Below 2 million yuan, 0.3%; 2 million yuan and above, 1000 yuan per transaction. ② Redemption Fee: Within 7 days, 1.5% for both individual and institutional investors; 7 days and above, no fee for individual investors; 7-30 days, 1% for institutional investors; 30-180 days, 0.5% for institutional investors; 180 days and above, no fee for institutional investors. ③ Sales Service Fee: None.
Risk Disclosure: The Huabao Power ETF passively tracks the CSI All Share Power Utilities Index. The index base date is December 31, 2004, and its release date is July 15, 2013. The index constituents are adjusted according to its compilation rules. Its backtested historical performance does not indicate future results. The index constituents mentioned are for illustrative purposes only; descriptions of individual stocks are not investment advice of any form and do not represent the holdings or trading动向 of any fund managed by the manager. The fund manager assesses this fund's risk level as R3-Medium Risk, suitable for Balanced (C3) and above investors. Please refer to the selling institution for suitability matching opinions. Any information appearing in this article (including but not limited to stocks,评论, forecasts, charts, indicators, theories, and任何形式的表述) is for reference only. Investors are responsible for their own investment decisions. Furthermore, any views, analysis, or forecasts herein do not constitute investment advice of any kind to the reader, nor shall they be liable for any direct or indirect losses arising from the use of this content. Fund investment carries risks. The past performance of a fund does not guarantee its future results. The performance of other funds managed by the manager does not constitute a guarantee of this fund's performance. Invest in funds with caution.