“反内卷”力度不断加强，新能源车ETF（515030）困境反转，回调迎布局机会

Core Viewpoint - The A-share market experienced a collective decline on July 30, with the electric equipment sector leading the drop, particularly impacting the largest new energy vehicle ETF (515030) which fell by 2% [1] Industry Summary - A meeting held on July 18 by multiple departments focused on regulating the competitive order within the new energy vehicle industry, aiming to establish a long-term mechanism and enhance policy measures to promote the quality upgrade of the automotive industry [1] - The automotive industry is expected to benefit from "anti-involution" policies, which may lead to an improvement in the passenger vehicle market ecosystem. The policies will likely focus on price promotion pre-reporting, dealer inventory checks, control of new domestic production capacity, and strict monitoring of supplier payment terms [1] - The competitive landscape in the passenger vehicle market, which has seen frequent price wars over the past three years, is anticipated to ease, benefiting companies with product advantages and flexible small to medium suppliers [1] Company Summary - The new energy vehicle ETF (515030) is currently the largest themed ETF in the market, tracking the CSI New Energy Vehicle Index (399976) and selecting stocks from companies involved in lithium batteries, charging piles, and new energy vehicles [1] - Battery concept stocks constitute a significant portion of the ETF, accounting for 47.6% of the total holdings in the Shenwan secondary industry classification [1]