Geopolitical conflicts intensify, reshaping the energy landscape; expectations for both oil shipping and coal prices move higher. State-owned enterprise dividend ETF Pengyang rises 0.34%.

Ask AI · How does the escalation of the U.S.-Iran conflict catalyze a reshaping of the energy transportation landscape?

On the morning of April 7, 2026, as of 11:02, the CSI State-Owned Enterprises Dividend Index rose 0.37%. Among constituent stocks, Sinotrans & Shipping (Guangzhou) International rose 4.44%, Huayang Co. rose 4.33%, China Coal Energy rose 4.31%, Lanhua Kechuang rose 4.17%, and Shenhuo Co. rose 3.67%. The state-owned enterprise dividend ETF Pengyang (159515) rose 0.34%, with the latest price at 1.17 yuan. (The stocks listed in this article are index constituent stocks only for illustrative purposes and do not constitute a recommendation for individual stocks. Past holdings do not represent the fund’s future investment direction, nor do they represent any specific investment advice; the investment direction and the fund’s specific holdings may change. Investing involves risk—proceed with caution.)

Regarding news: Recently, the U.S.-Iran conflict has escalated in an all-around way. The Iranian Parliament has formally enacted legislation to levy transit fees on merchant vessels transiting the Strait of Hormuz. The bill prohibits passage for vessels associated with the U.S., and also for vessels associated with countries that had previously imposed unilateral sanctions on Iran. The fees must be paid in Iranian rials and also require coordination with Oman. Meanwhile, Trump announced that the “core strategic objectives” of the U.S. war with Iran are “near completion,” and said that the U.S. “almost doesn’t need the Strait of Hormuz,” encouraging other countries to maintain the route on their own or switch to buying oil from the U.S. Huayuan Securities believes that this geopolitical upheaval has substantively reshaped the global energy transportation logic and will continue to catalyze an upward momentum in sectors such as oil shipping, ports, and shipbuilding.

In addition, the settlement price of Brent crude oil futures has reached $109.03 per barrel, up 0.94% month over month. Risks to international oil and gas supply have risen significantly. According to research from Shenwan Hongyuan, under the dual drivers of the resource endowment of “rich in coal, poor in oil, and lack of gas” and the energy security strategy, coal’s role as the cornerstone of domestic energy has been further strengthened. If the U.S.-Iran conflict causes the strait to be obstructed on a normalized basis, it will directly drive the release of demand for coal substitution. Combined with supply constraints such as the implementation of Indonesia’s B50 plan and the extension of spring inspections on the Daqin line, the expected coal price midpoint has shifted from a stepwise 700–750 yuan/ton to 800–850 yuan/ton, and the high end has the potential to break through 1,000 yuan/ton. (The industries listed in this article are for reference only; they do not indicate this fund’s future performance, do not constitute a guarantee of investment returns, and do not constitute any investment advice regarding specific industries.)

Pengyang state-owned enterprise dividend ETF closely tracks the CSI State-Owned Enterprises Dividend Index. From state-owned enterprises, it selects 100 listed companies as index samples that have high cash dividend yields, relatively stable dividends, and a certain scale and liquidity, reflecting the overall performance of securities with high dividend yields among state-owned enterprises.

According to Wind data, as of March 31, 2026, the top ten weightings of the CSI State-Owned Enterprises Dividend Index are Cosco Shipping Holdings, Yankuang Energy, HENGYUAN Coal Power, Lu’an Environmental Energy, Shaanxi Coal Industry, Shanmei Guoji, China Shenhua, Pingmei Co., Shanxi Coking Coal, and Huaibei Mining. The combined weight of the top ten is 16.9%. (The stocks listed above are index constituent stocks only for illustrative purposes and do not constitute a recommendation for individual stocks. Past holdings do not represent the fund’s future investment direction, nor do they represent any specific investment advice; the investment direction and the fund’s specific holdings may change. The market is risky; invest cautiously.)

Pengyang state-owned enterprise dividend ETF (159515), off-exchange fund connection (Pengyang CSI State-Owned Enterprises Dividend ETF Connection A: 020115; Pengyang CSI State-Owned Enterprises Dividend ETF Connection C: 020116).

Risk disclosure: “The CSI State-Owned Enterprises Dividend Index (000824) is compiled and calculated by CSI Indices Co., Ltd. (‘CSI’). Ownership belongs to CSI and/or its designated third parties. CSI provides no express or implied guarantees regarding the timeliness, accuracy, completeness, and suitability for any special purpose of the underlying index. No responsibility is assumed by CSI for any delays, omissions, or errors of the underlying index (regardless of whether there is negligence). CSI makes no guarantees, endorsements, sales, or promotional activities for products that track the underlying index, and CSI shall not bear any responsibility related to this.” This fund is a passive investment exchange-traded open-ended index fund. It mainly adopts a full replication strategy to track the market performance of the underlying index and has risk-return characteristics similar to those represented by the market for the index. Investors in this fund face potential risks such as deviation between the returns of the underlying index and the corresponding market average returns, fluctuations of the underlying index, failure of tracking error control to meet the agreed target, changes to the underlying index, the index compilation institution stopping services, suspension or delisting of constituent stocks, and other potential risks. This product is issued and managed by Pengyang Fund Management Co., Ltd.; sales institutions do not assume responsibility for the product’s investment or redemption. The fund manager undertakes to manage and use fund assets in accordance with the principles of honesty and credibility and due diligence, but does not guarantee that the fund will definitely be profitable, nor does it guarantee a minimum return. The fund’s past performance does not predict its future performance. The performance of other funds managed by this company does not constitute any prediction or guarantee of this fund’s performance. Before investing in the fund, investors should carefully read fund legal documents such as the fund contract, the prospectus, and the fund product information summary, fully understand the risk-return characteristics of the fund product, and make independent decisions regarding fund investment based on their own risk tolerance, investment horizon, and investment objectives, after understanding the product situation and the sales institution’s suitability opinions. Funds involve risk—invest with caution.

The foregoing information does not predict this fund’s future performance, does not constitute a guarantee of investment returns, and does not constitute any investment advice.