arcadejoystickforpc| Is the industry turning point here? Photovoltaic ETF rose more than 6%

TodayArcadejoystickforpcThe photovoltaic plate continued to rise, King Kong Photovoltaic rose back to the limit, Oriental Sunrise and Trina Solar Energy rose by more than 10%, Jingao Technology reached the limit, TCL Central rose by more than 8%, Tongwei shares rose by the intraday limit, and Longji Green Energy rose by more than 8%.

From today's capital flow, we can also see that the main funds have strongly bought photovoltaic dragon stocks, as of press time, 14Arcadejoystickforpc72 million yuan went to Longji Green Energy and 953 million yuan to Tongwei shares.

In terms of ETF, Guangfa Fund Photovoltaic 30ETF, Tianhong Fund Photovoltaic ETF and Huatai Berry Fund Photovoltaic ETF all rose by more than 6%.

On the news side, the China Photovoltaic Industry Association recently organized a "Symposium on the High-quality Development of the Photovoltaic Industry" in Beijing. The meeting pointed out that the photovoltaic industry is an industry with a very high degree of marketization, and it is more appropriate to solve the current difficulties of the industry through market-oriented means, but it should also give full play to the role of the government as a visible hand, including optimizing the guiding role of photovoltaic manufacturing industry management policies on industry capacity construction and improving key technical indicators. The meeting mentioned the need to strengthen the crackdown on vicious competition in sales below cost prices, encourage mergers and restructuring of the industry, and smooth the market exit mechanism.

In fact, the market has been paying attention to when the lithium power and photovoltaic industry will be cleared. On May 20, Liu Hanyuan, chairman of Tongwei Group, said that photovoltaic market demand is growing and should not be pessimistic about its future. Although the industrial cycle will fluctuate in a short time, it will also usher in rebalancing in the future. There is a lot of room for the growth of photovoltaic in China, and the market price will certainly fall, and the foundation will be consolidated again. The most pessimistic, (photovoltaic industry) will improve in the second half of next year, the most optimistic is to improve in the second half of this year.

Guolian Securities pointed out that the current profit pressure of the main industrial chain companies leads to a lack of willingness to expand production in the short term, but photovoltaic technology iterations are still going on, such as low-oxygen silicon wafers, HJT batteries, perovskite batteries, 0BB modules and other new technologies. We believe that after this painful period, the advanced production capacity in the market is still insufficient, the new technology catalytic equipment is updated rapidly and iteratively, and the equipment is expected to have a longer industry prosperity.

The research report of CITIC Construction Investment on May 14 said that photovoltaic production capacity and capital expenditure were relatively strong in the first two quarters, focusing on the demand elasticity at the bottom of the price of the industrial chain. the selection of targets in this direction needs to closely track the industry pattern combined with valuation for selection, but also needs to have a strong timing ability.

Therefore, if you are optimistic about the follow-up investment in the photovoltaic industry, investing in photovoltaic ETF is more robust than selecting individual stocks, and the risk is dispersed.

At present, A shares have 10 photovoltaic theme ETF, tracking photovoltaic industry index and photovoltaic leading 30 index respectively. The largest is Huatai Berry Fund Photovoltaic ETF, the latest scale is 9.206 billion yuan, tracking the index is the photovoltaic industry index. Tracking photovoltaic leading 30 index of ETF products is only one, Guangfa Fund Photovoltaic 30ETF, the latest scale is 158 million yuan.

According to the official website of the CSI, the CSI selects no more than 50 most representative securities of listed companies as index samples from the securities of listed companies whose main business involves the upper, middle and lower reaches of the photovoltaic industry chain. to reflect the overall performance of the securities of listed companies in the photovoltaic industry.

The CSI Photovoltaic leading 30 Index selects 30 large-scale and profitable securities of listed companies involved in the photovoltaic industry in the Shanghai and Shenzhen markets as index samples to reflect the overall performance of the securities of the leading listed companies in the photovoltaic industry.

According to the list of the top ten heavyweights in the past, there is only one stock difference between the photovoltaic industry index and the photovoltaic leader 30, and the rest of the constituent stocks are the same, but the proportion is different. TCL Technology is the third largest heavyweight of the former, with a weighting of 9.28 per cent, while Jijiawei Chuang is the tenth largest with 2.71 per cent.

As can be seen from the proportion of the top ten heavyweights, the concentration of the photovoltaic leading 30 index is 68.88%, which is significantly higher than the 57.96% of the photovoltaic industry index. In terms of the daily limit of Tongwei shares, it accounts for 6.36% of the photovoltaic industry index and 8.43% of the photovoltaic leading 30 index.

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