CATL(SZ:300750) Xin Lang Cai Jing·2025-07-21 02:23Core Viewpoint - The launch of the Yarlung Tsangpo River downstream hydropower project, with an investment exceeding 1.2 trillion yuan, marks a significant step towards carbon neutrality and green economic investment in China [1][2]. Group 1: Project Overview - The Yarlung Tsangpo River downstream hydropower project has a capacity of 70 to 81 million kilowatts, equivalent to five Three Gorges projects, and is expected to generate nearly 300 billion kilowatt-hours of zero-carbon electricity annually, meeting the electricity needs of approximately 300 million households [1]. - The project is seen as a "super aircraft carrier" in the energy sector, significantly contributing to energy structure transformation and the achievement of carbon neutrality goals [1]. Group 2: Market Impact - Huatai Securities estimates that the total value of turbine and generator business related to the project is between 53.5 billion and 95.4 billion yuan, which could become a new growth point for hydropower equipment after 2030 [2]. - The national carbon market is set to expand significantly in 2025, with major industries like steel, cement, and aluminum smelting joining, increasing the covered emissions to approximately 8 billion tons [2]. Group 3: Carbon Neutrality ETF - The Taikang Carbon Neutrality ETF (560560) closely tracks the CSI Mainland Low Carbon Economy Theme Index, which includes companies in clean energy generation, energy conversion and storage, and waste treatment [3]. - The index comprises 50 core enterprises in the low-carbon economy, with leading companies like Yangtze Power and CATL, indicating strong industry representation [3]. - The ETF serves as a bridge for ordinary investors to participate in the carbon neutrality market, allowing them to contribute to climate change efforts while potentially benefiting from the growth of the green economy [3][4]. Group 4: Investment Strategy - In the face of market volatility, investing in the carbon neutrality sector is increasingly seen as a key strategy due to its policy certainty, technological innovation, and market potential [4]. - The Taikang Carbon Neutrality ETF is positioned as an effective investment tool, offering a diversified portfolio that mitigates individual stock risks while capturing leading companies' returns [4].