Domestic demand "renewal" + external demand "Belt and Road" dual-driven! Engineering machinery ETF Penghua(159177) is now on sale, sharing the dividends of the high-end manufacturing industry

Driven by the dual forces of high-end manufacturing and international expansion, and with internal and external resonance, the construction machinery industry is entering a new cycle of high-quality development. Seizing this opportunity, Penghua Fund announced that its Construction Machinery ETF Penghua (Subscription Code: 159177) will be officially launched on March 2, providing investors with a one-click index investment tool to easily capture industry growth opportunities.

On the domestic demand side, efforts focus on boosting consumption through targeted actions, continuing policies such as “old for new” subsidies, expanding service consumption, and investing in human capital; on the supply side, policies promote the development of a unified large market, deepen the rectification of “involution” competition, and advance dual control systems for carbon emissions, while also deepening the “Artificial Intelligence+” initiatives to lead the development of “new quality productivity” and modern industrial systems.

Regarding external demand, after 2022, the ratio of exports to ASEAN countries for representative products in production line deployment, operation, and infrastructure construction has continued to rise. This indicates an improvement in local manufacturing capabilities and increased capacity deployment in “Belt and Road” countries.

Data shows that one upward cycle lasts 12 months, a downward cycle lasts 28 months, and the total cycle is 40 months. The current cycle began in October 2023. The upward phase has lasted 23 months, and as of December 2025, the downward phase has lasted 3 months, suggesting the industry may have accumulated sufficient momentum.

Construction Machinery ETF Penghua (159177) tracks the CSI Construction Machinery Theme Index, which accurately reflects the industry’s core competitiveness. The index selects 50 high-quality targets from the Shanghai and Shenzhen markets, covering complete construction machinery manufacturing, core components, and supporting services, forming a high-purity industry leader portfolio.

Wind data shows that as of January 31, 2026, the index components exhibit a significant “top-heavy” concentration: the top ten stocks account for over 73% of the total, with the construction machinery secondary industry weight reaching 49.16%. This highly concentrated structure is due to leading companies leveraging scale advantages and stable performance to establish significant market share and revenue barriers, thereby providing the index with stronger profitability certainty and cyclical resilience.