Currently, the profound changes in the geopolitical landscape have elevated energy security to a national strategic level. The escalation of geopolitical risks in the Middle East has substantially led to damage to numerous oil and gas facilities and a significant depletion of strategic reserves in multiple countries. Whether it is the subsequent demand for replenishment or the recovery of supply, the repair time required will undoubtedly exacerbate the global energy tension in the future and significantly accelerate the energy substitution process in various countries.
The issues that need to be addressed regarding energy security include sufficient energy supply and a comprehensive energy system. Achieving these goals requires stronger power generation capacity, more comprehensive transmission facilities, higher quality energy storage systems, and so on.
How can investors efficiently grasp this main line? They can directly choose ETF products that focus on various core links for efficient allocation. For example:
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[Power Generation Side] Focus on the power generation segment with the CSI Green Power Index;
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[Power Transmission Side] Focus on the power grid industry chain with the Hang Seng A-Share Power Grid Equipment Thematic Index;
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[Power Storage Side] Focus on the core segment of energy storage with the Guozheng New Energy Battery Index.
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The three indices focus on the three core segments of electricity, helping investors seize investment opportunities in the main line of energy security.
What are the differences between these indices?
A table to understand the core differences among the three indices
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Data source: Wind, iFind, data as of April 1, 2026, valuation levels use rolling price-to-earnings ratio indicators.
All three indices are &#34;special forces&#34; focusing on their respective industry chains.
[Low Valuation, Large Space] Green Power ETF E Fund (562960, 019058/019059)
The CSI Green Power Index selects 50 leading companies involved in green power generation from wind, solar, and hydroelectric sources, as well as thermal and nuclear power companies that are transitioning to these fields.
Feature 1: Low Valuation. As of April 1, 2026, the rolling price-to-earnings ratio of the CSI Green Power Index is only 18.6x, which is at the 43rd percentile over the past five years, making it relatively lower in valuation among energy security themes. The last peak in valuation also occurred during the 2022 European geopolitical conflict that brought energy issues, and the impact of the current Middle Eastern geopolitical conflict is far greater than the last one. Therefore, in the context of global turmoil and a sharp rise in energy crisis risks, the low valuation attribute becomes a significant highlight of this index.
Feature 2: Representing &#34;Electricity and Computing Synergy.&#34; For the power industry, electricity and computing synergy transforms China's advantages in the electricity sector into advantages in the AI field, converting electrical energy into computational power for overseas expansion. In other words, in the era of AI, electricity not only becomes an important cornerstone but further evolves into a high-quality asset that can be monetized overseas. The assets that benefit the most from this grand narrative are the leading power generation companies, which is the core direction that the Green Power ETF E Fund focuses on
High Prosperity, New &#34;HALO&#34; Energy Storage Battery ETF E Fund (159566, 021033/021034)
The Energy Storage Battery ETF E Fund tracks the CNI New Energy Battery Index, selecting 50 leading stocks within the energy storage battery theme to represent the prosperity of the energy storage industry.
Feature One: High Prosperity. Following the introduction of supportive policies for energy storage in some provinces in 2025, which triggered a wave of installation enthusiasm, the national government issued supportive policies at the beginning of this year, further igniting the construction enthusiasm of the energy storage industry. Coupled with the global energy issues exacerbated by war, several countries, including those in Europe and Australia, have also introduced incremental policies for household energy storage, significantly boosting the export of related industrial chains in China, often exceeding expectations. Feedback from the front line of the industrial chain indicates that the industry's production in April has further increased month-on-month based on the high prosperity in March.
Feature Two: A New &#34;HALO&#34; Asset of Great Interest. Compared to more familiar HALO assets such as materials, railways, and heavy equipment (heavy assets, low elimination), energy storage batteries are gradually becoming the new standard in the power industry as the &#34;stabilizer&#34; of electricity in the new energy era. As a long-term asset with heavy investment and low elimination (requiring operation for 10-20 years), energy storage is becoming a new &#34;HALO&#34; asset widely focused on by capital.
[High Elasticity New Variety] Power Grid Equipment ETF E Fund (560390)
The Power Grid Equipment ETF E Fund tracks the Hang Seng China A Power Grid Equipment Index, selecting 50 core stocks with over 40% of their revenue from sub-industries related to the power grid, to represent the beta of the power grid equipment industry.
Feature One: New Variety Going Abroad. As a key area concerning electricity safety and national livelihood, companies in the related industrial chain of power grid equipment have traditionally focused on the domestic market, making it difficult to expand overseas. However, currently, due to global electricity shortages and aging power grid equipment in Western countries, there is an urgent need for updates. After a shortage of relevant foreign production capacity, Chinese power grid equipment products, with their strong technical capabilities and higher cost-performance ratio, have gained favor and begun to enter the global market. This change implies a significant expansion of market space for the industry. As China's share of power grid equipment in the global market continues to rise, the industry's ceiling will also rise rapidly, and future growth potential is limitless.
Feature Two: High Elasticity. The power grid equipment industry chain is experiencing a significant expansion of market space, and correspondingly, the industry valuation has also received a collective uplift. Moreover, since there has been almost no narrative of going abroad previously, the historical valuation of the industry no longer holds reference value. In this context of high industry growth, opened long-term space, and no historical valuation for reference, the investment elasticity of the sector will also significantly increase.
In summary, when laying out the energy security industrial chain, one can focus on various segments of this narrative to find &#34;special forces&#34; products in each sub-field.
For those inclined to seek low valuations and large spaces, the Green Power ETF E Fund (562960, 019058/019059) can be chosen to package the leading &#34;power generation&#34; stocks; for those inclined to seek high prosperity, the Energy Storage Battery ETF E Fund (159566, 021033/021034) can be selected to layout the new &#34;HALO&#34; asset resonating with both domestic and foreign demand
For those inclined to seek high elasticity, consider the E Fund (560390) Power Grid Equipment ETF, seizing another opportunity for high-quality Chinese assets to go global.
Top ten constituent stocks and their weights

Note: Data source Wind, iFind, data as of March 31, 2026

159566

562010

159840

Currently, changes in the geopolitical landscape have made energy security a national strategy. The escalation of the situation in the Middle East has led to damage to oil and gas facilities, exacerbating global energy tensions and driving the energy substitution process in various countries. Investors can seize investment opportunities by focusing on ETF products related to power generation, power transmission, and energy storage, such as the CSI Green Power Index, Hang Seng China A Power Grid Equipment Thematic Index, and Guozheng New Energy Battery Index. These indices focus on the core segments of the power industry chain, characterized by low valuations and significant potential, especially in the context of the current global energy crisis, where the low valuation attribute is particularly prominent

Energy security is prioritized, what are the indices related to "electricity"?