The fixed asset investment of the two networks surged in the first quarter, focusing on the investment value of the power grid equipment ETF E Fund (560390)

As of the market close, the Hang Seng China A Power Grid Equipment Index fell by 0.5%. The State Grid and the Southern Power Grid saw significant growth in fixed asset investment in the first quarter, with the State Grid completing nearly 130 billion yuan, a year-on-year increase of 37%; the Southern Power Grid completed 38.45 billion yuan, a year-on-year increase of 49.5%. The investment growth rate far exceeded market expectations, marking the start of a strong investment cycle for the "14th Five-Year Plan" in the power grid sector, with intensive commencement of ultra-high voltage projects, increased order visibility for power grid equipment companies, and an upward trend in the economic cycle