嘉实基金：“源网荷储”全链深耕 助力绿色低碳发展

Group 1: Industry Overview - China's solar cell production capacity exceeds 10,000 pieces per minute, and over 80% of global photovoltaic components and 70% of wind power equipment are manufactured in China [1] - China has maintained the world's largest production and sales of new energy vehicles for 10 consecutive years [1] - By the end of 2024, non-fossil energy installed capacity in China is expected to reach 58.2%, with wind and solar power accounting for 42% of total installed capacity, marking a tenfold increase over the past decade [4] Group 2: Energy Transition - The global energy transition towards low-carbon, green, and sustainable sources is an inevitable direction due to the limited nature of resource-based energy [3] - The energy revolution is characterized by a shift from resource dependence to technology-driven solutions, which can help break the inflationary cycle associated with resource constraints [4] - The integration of the energy supply chain, referred to as "source-network-load-storage," is seen as a significant opportunity for investment [5][6] Group 3: Investment Strategies - Public funds are playing a crucial role in guiding resource allocation and value discovery in the green transition [1] - The investment focus includes sectors such as new energy vehicles, lithium batteries, and photovoltaic products, which are gaining global recognition [4] - The company has developed a comprehensive product line covering the entire green low-carbon industry chain, including both active and passive funds tailored to various investor needs [8][9] Group 4: Technological Advancements - The energy transition is driven by technological advancements, with clean energy generation being the first to mature, followed by energy storage and electric vehicles [10] - The automotive industry is experiencing a significant transformation, with a focus on electrification, intelligence, and internationalization [8] - The integration of AI technology in the automotive sector is expected to accelerate the adoption of smart driving solutions [11] Group 5: Future Outlook - The company believes that the green low-carbon and clean energy sectors will continue to present abundant opportunities in the future [12] - The ongoing evolution of the energy system requires a shift towards a more integrated and intelligent approach, enhancing collaboration across the energy supply chain [11]