Venture(US:VEMLY) Sou Hu Cai Jing·2025-09-12 06:25Core Viewpoint - The recent performance of the ChiNext ETF Tianhong (159977) and the Photovoltaic ETF (159857) indicates significant growth and investor interest in these sectors, driven by market dynamics and policy support [5][6][11]. Group 1: ETF Performance - As of September 12, 2025, the ChiNext ETF Tianhong (159977) recorded a transaction volume of 115 million yuan, with constituent stocks like Beijing Junzheng (300223) rising by 16.60% [3]. - The Photovoltaic ETF (159857) saw a turnover of 215 million yuan with a turnover rate of 8.19%, featuring stocks such as Kehua Data (002335) leading with a 10.01% increase [4]. - Over the past week, the ChiNext ETF Tianhong (159977) experienced a scale increase of 13.8 million yuan, indicating notable growth [5]. Group 2: Fund Size and Share Split - The Photovoltaic ETF (159857) achieved a cumulative increase of 7.29% over the past week, ranking first among comparable funds, with a scale increase of 15.4 million yuan and a share increase of 22.5 million shares [6]. - The ChiNext ETF Tianhong (159977) is set to implement a share split on September 12, 2025, with a ratio of 1:2, aimed at addressing investor concerns regarding high net asset values and lowering the purchase threshold for retail investors [7][8]. Group 3: Sector Focus and Highlights - The ChiNext ETF Tianhong (159977) focuses on new productivity sectors, with significant weights in electric equipment (27.4%), communications (17.4%), and electronics (14.3%), featuring leading tech stocks like CATL and Dongfang Wealth [9]. - The Photovoltaic ETF (159857) closely tracks the CSI Photovoltaic Industry Index, selecting up to 50 representative companies across the photovoltaic industry chain to reflect overall performance [9]. Group 4: Market and Policy Insights - The National Development and Reform Commission and the National Energy Administration have issued a plan for large-scale construction of new energy storage from 2025 to 2027, aiming for a total installed capacity of over 180 million kilowatts and direct investment of approximately 250 billion yuan [11]. - Analysts express optimism for the technology sector, citing factors such as lower-than-expected overseas policy impacts and strong quarterly outlooks, while the photovoltaic industry faces challenges from rapid capacity expansion and competitive pressures [12].