In early trading on the 4th, the power sector continued its upward trend. Henan Yuneng Holdings Co.,Ltd. recorded 8 limit-up gains in 10 trading days, while Jinkai New Energy hit the daily upside limit. Shares such as SDIC Green Energy, Ganergy Power, Jiaze New Energy, Jinkong Power, and GCL Energy Technology rose more than 4%. Among popular ETFs, the "HALO" core asset—the电力ETF (159146)—rebounded intraday with a gain exceeding 1%, approaching yesterday's high.
China Merchants Securities pointed out that the overseas expansion of token-related activities is driving the expansion of computing power scale, thereby fueling a surge in electricity demand. The institution estimates that by 2030, electricity consumption by data centers could account for approximately 4% of China's total societal electricity usage. At the same time, capital-heavy, low-elimination (HALO) utility companies are experiencing a value resurgence as they navigate economic cycles.
The institution stated that in the AI era, technological disruptions at the software level are emerging continuously, while HALO assets are "tangible and stable," featuring high entry barriers, stable business models, predictable cash flows, and resilience to AI disruption, offering defensive value. Utilities are typical HALO industries and, amid AI disruption and geopolitical volatility, are expected to become a reliable choice for capital allocation.
On the earnings front, several power stocks are projected to achieve high net profit growth in 2025. According to DataBox statistics, as of February 27, 46 power stocks had released performance-related announcements for 2025. Based on preliminary reports or median forecasts, 24 of these stocks reported net profits exceeding 1 billion yuan. China Yangtze Power led with a net profit of 341.67 billion yuan, while Datang Power, Jingneng Power, Shanghai Electric Power, and Gansu Energy recorded net profits ranging between 20 billion and 80 billion yuan.
To capture opportunities in the power energy sector amid the AI boom, investors may consider the电力ETF (159146). The underlying index focuses on the power utilities sector, with comprehensive exposure to thermal, hydro, wind, nuclear, and solar power. The sector combines dividend and growth characteristics, with a high concentration of leading power stocks. It is poised to benefit continuously from AI-driven computing power growth and power sector reform policies, offering a convenient way to capture development opportunities in the power industry.
ETF fee note: When subscribing for or redeeming fund units, subscription and redemption agents may charge a commission of up to 0.5%. Intraday trading fees are subject to the rates set by securities firms, with no sales service fees applied.
Risk disclosure: The电力ETF passively tracks the CSI All Share Power Utilities Index, which has a base date of December 31, 2004, and was published on July 15, 2013. The index components are adjusted according to its compilation rules, and its historical performance does not indicate future results. The index constituents mentioned are for illustrative purposes only; individual stock descriptions are not investment advice and do not represent the holdings or trading activities of any fund managed by the asset manager. The fund manager has rated this fund as R3-medium risk, suitable for aggressive (C3) and higher risk-tolerance investors. Suitability assessments are subject to the selling institution’s evaluation. All information provided (including but not limited to stocks, commentary, forecasts, charts, indicators, theories, and any form of expression) is for reference only, and investors are solely responsible for their investment decisions. Furthermore, no views, analyses, or forecasts herein constitute investment advice of any kind, and no liability is accepted for direct or indirect losses resulting from the use of this content. Fund investments carry risks; past performance does not guarantee future results, and the performance of other funds managed by the fund manager does not assure this fund’s performance. Invest with caution.
A MACD golden cross signal has formed, indicating favorable momentum for several stocks.