On April 9, 2025, at 14:24, the China Securities Photovoltaic Industry Index (931151) rose by 0.48%. Notable component stocks included Quartz Co. (603688), which increased by 10.02%, Micro導 Nano (688147) with a 7.13% rise, KeHua Data (002335) up by 5.00%, KeShida (002518) gaining 3.77%, and Southern Power Grid Energy (003035) with a 3.41% increase. The Photovoltaic ETF Fund (516180) also saw a 0.77% rise, reaching a latest price of 0.52 yuan.
In terms of liquidity, the Photovoltaic ETF Fund experienced a turnover rate of 7.13% during the trading session, with total transactions amounting to 4.0563 million yuan. Over the past year, as of April 8, the fund recorded an average daily transaction volume of 4.7738 million yuan.
Recently, the National Development and Reform Commission and the National Energy Administration jointly issued the “Guiding Opinions on Accelerating the Development of Virtual Power Plants” (Development and Reform Energy [2025] No. 357). The document highlights that:
- A virtual power plant integrates distributed energy sources, adjustable loads, and energy storage, serving as a new operational entity that collaborates in the optimization of the power system and participates in electricity market transactions. Virtual power plants play a crucial role in enhancing power supply reliability, promoting renewable energy absorption, and improving the electricity market framework. They can provide various adjustment services such as peak regulation, frequency regulation, and reserves. In market transactions, they can aggregate dispersed resources to participate in market activities.
- The development of virtual power plants as resource aggregation entities should be accelerated to participate fully in both the medium and long-term markets as well as spot market transactions, with clear principles established for electricity quantity and pricing calculations.
It is noteworthy that the valuation of the index tracked by this fund is currently at a historical low, with a latest price-to-book ratio (PB) of 1.62 times, which is below the index for over 85.93% of the past year, indicating a favorable valuation.
Investors can seize opportunities in related industries through the Photovoltaic ETF Fund (516180) and the New Materials ETF Index Fund (516890).
The Photovoltaic ETF Fund closely tracks the China Securities Photovoltaic Industry Index, which selects up to 50 representative listed companies involved in various segments of the photovoltaic industry chain to reflect the overall performance of photovoltaic-related securities.
As of March 31, 2025, the top ten weighted stocks in the China Securities Photovoltaic Industry Index (931151) were LONGi Green Energy (601012), SunPower (300274), TCL Technology (000100), Transformer Electric (600089), Tongwei Co. (600438), TCL Zhonghuan (002129), JinkoSolar (688223), Zhengtai Electric (601877), DeYe Co. (605117), and JA Solar (002459), together accounting for 55.78% of the total weight.
Similarly, the New Materials ETF Index Fund closely tracks the China Securities New Materials Theme Index, which includes 50 listed companies involved in advanced steel, non-ferrous metals, chemicals, inorganic non-metals, and other key strategic materials, reflecting the overall performance of these new material companies.
As of March 31, 2025, the top ten weighted stocks in the China Securities New Materials Theme Index (H30597) were CATL (300750), North Huachuang (002371), Wanhua Chemical (600309), LONGi Green Energy (601012), Sanhuan Group (300408), Tongwei Co. (600438), Huayou Cobalt (603799), San’an Optoelectronics (600703), Greenmead (002340), and Baofeng Energy (600989), with these ten stocks representing 52.75% of the total weight.
Relevant products include: Photovoltaic ETF Fund (516180), Ping An Photovoltaic Index Fund (Class A: 012722; Class C: 012723); and New Materials ETF Index Fund (516890).
