Institution: Construction of New Energy System Accelerates, Power ETF (561560) Rises 1.03% Intraday

NewTimeSpace News: As of 15:00 on January 20, 2026, the CSI All-Shares Power Utilities Index (H30199) surged 1.11%. Its constituent stocks included Shanghai Power (up 8.13%), Leshan Power (up 4.61%), Datang Power Generation (up 4.19%), as well as Mingxing Power and Huayin Power, which followed the upward trend. The Power ETF (561560) rose 1.03%, aiming for a three-day consecutive gain, with the latest price at RMB1.28. Over a longer period, as of January 19, 2026, the ETF had gained 0.80% cumulatively in the past week, ranking 3rd out of 6 comparable funds. (The stocks listed above are only index constituents and do not constitute specific recommendations.)

In terms of liquidity, the intraday turnover rate of the Power ETF was 13.99% with a trading volume of RMB112 million, indicating active market participation. Over a longer period, as of January 19, the average daily trading volume of the ETF in the past week was RMB75.9836 million, ranking top 2 among comparable funds.

In terms of scale, the latest size of the Power ETF reached RMB790 million, a new high in nearly one month, ranking 2nd out of 6 comparable funds. (Data source: Wind)

In terms of shares, the latest share count of the Power ETF hit 626 million, a new high in nearly one month, ranking 3rd out of 6 comparable funds. (Data source: Wind)

In terms of capital inflows, the latest net capital inflow of the Power ETF was RMB49.2123 million. Over a longer period, there were net capital inflows on 3 out of the past 5 trading days, with a total "capital absorption" of RMB90.155 million and an average daily net inflow of RMB18.031 million. (Data source: Wind)

Data shows that leveraged funds continue to deploy. The Power ETF has achieved net purchases by leveraged funds for 3 consecutive days, with a maximum single-day net purchase of RMB4.636 million, and the latest financing balance was RMB22.4964 million. (Data source: Wind)

As of January 19, the net value of the Power ETF had risen 22.85% over the past three years, ranking first among comparable funds. In terms of profitability, as of January 19, 2026, since its establishment, the ETF has achieved a maximum monthly return of 7.79%, the longest consecutive monthly gain period of 7 months with a cumulative increase of 20.15%, a ratio of rising to falling months of 25:19, an average monthly return of 2.89% in rising months, an annual profit percentage of 100.00%, and a 100.00% profit probability for a 3-year holding period. As of January 19, 2026, the ETF's annualized excess return over the benchmark in the past year was 2.88%, ranking 1st out of 5 comparable funds.

As of January 16, 2026, the Sharpe ratio of the Power ETF in the past year was 1.16, ranking 1st out of 5 comparable funds, with the highest return under the same risk level.

In terms of drawdown, as of January 19, 2026, the ETF's maximum drawdown since the beginning of the year was 0.54%, with a relative benchmark drawdown of 0.03%. The number of days to recover after the drawdown was 4 days, the fastest recovery among comparable funds.

In terms of fees, the ETF's management fee rate is 0.50% and the custodian fee rate is 0.10%, the lowest among comparable funds.

In terms of tracking accuracy, as of January 19, 2026, the ETF's tracking error over the past two months was 0.013%, showing high tracking accuracy among comparable funds.

The Power ETF closely tracks the CSI All-Shares Power Utilities Index. To reflect the overall performance of listed company securities in different industries within the CSI All-Shares Index sample and provide analysis tools for investors, the CSI All-Shares Index sample is classified into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries based on the CSI Industry Classification. Indices are then compiled using all securities in each primary, secondary, tertiary, and quaternary industry as samples, forming the CSI All-Shares Industry Indices.

Data shows that as of December 31, 2025, the top 10 constituent stocks by weight of the CSI All-Shares Power Utilities Index (H30199) were Yangtze Power, China National Nuclear Power, Three Gorges Energy, Guodian Power Development, Yongtai Energy, Huaneng International Power Development, State Development & Investment Corp. Power, China General Nuclear Power Group, Shanghai Power, and Chuanneng Energy, accounting for a total of 52.07% of the index weight. (The stocks listed above are only index constituents and do not constitute specific recommendations.)

China Securities (Hong Kong) stated that during the "14th Five-Year Plan" period, the annual average new installed capacity of wind and solar new energy in the operating area of State Grid is expected to be about 200 million kilowatts. This will drive the proportion of non-fossil energy consumption to 25% and the proportion of electricity in terminal energy consumption to 35%, helping to initially build a new energy system and achieve the goal of carbon peaking across society as scheduled.

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