风电光伏“反内卷”开启新赛道，央企现代能源ETF(561790)红盘上扬，近1月日均成交额居可比基金第一

Core Insights - The China Securities Index for Modern Energy (932037) has shown a 0.46% increase as of July 4, 2025, with notable gains in constituent stocks such as Changyuan Power (2.38%) and China National Coal (1.97%) [1][3] - The Central State-Owned Enterprises Modern Energy ETF (561790) has increased by 0.28%, with a recent price of 1.09 yuan, and has outperformed comparable funds over the past week [1][3] - A meeting held by the National Energy Administration on July 2 focused on wind and solar energy resource surveys, approving technical guidelines and data management notifications [1] Industry Developments - The Ministry of Industry and Information Technology held a meeting on July 3 with 14 photovoltaic companies to discuss production, innovation, market competition, and policy suggestions to combat low-price competition in the solar industry [2] - According to CITIC Securities, coal companies are expected to see a 16% decline in net profit for Q2 2025, with a year-on-year drop of approximately 31% for the first half of the year, indicating a continued downward trend in coal prices [2] ETF Performance Metrics - The Central State-Owned Enterprises Modern Energy ETF has recorded a 0.09% increase over the past six months, with a maximum monthly return of 10.03% since inception and a historical one-year profit probability of 69.33% [3] - The ETF's management fee is 0.50%, and its tracking error over the past month is 0.045%, indicating high tracking precision compared to similar funds [3] Top Holdings - As of June 30, 2025, the top ten weighted stocks in the China Securities Index for Modern Energy account for 49.93% of the index, with Changjiang Electric Power holding the highest weight at 10.48% [4][6]