Sungrow Power Supply(SZ:300274) Xin Lang Cai Jing·2025-10-16 06:23Core Viewpoint - The recent policy changes by the National Development and Reform Commission (NDRC) in China are expected to significantly boost the renewable energy sector, particularly in hydrogen and ammonia production, while the carbon-neutral ETF is showing strong performance driven by key stocks in the clean energy space [1][2][4]. Group 1: Policy Changes and Market Impact - The NDRC's new draft policy includes mandatory assessments for renewable energy non-electric consumption, marking a shift towards multi-energy collaborative consumption [2]. - The policy aims to create a structured market space by setting non-electric consumption targets for provinces and key energy-consuming enterprises, enhancing the long-term outlook for the industry [2]. Group 2: Performance of Carbon Neutral ETF - The carbon-neutral ETF, 泰康 (560560), has seen a significant increase in scale, growing by 164.20 million yuan over the past year, ranking first among comparable funds [1]. - The ETF tracks the 中证内地低碳经济主题指数, which reflects the performance of companies involved in clean energy generation, energy conversion and storage, and waste management [4]. Group 3: Key Companies in the Sector - 宁德时代 (CATL) leads globally in energy storage battery shipments and has secured a major order for a 19GWh storage project in the UAE [3][4]. - 阳光电源 (Sungrow) is a leader in the global solar inverter market and is expanding its storage systems into emerging markets [3][4]. - 亿纬锂能 (EVE Energy) is experiencing high demand for its energy storage batteries, indicating a supply shortage [3][4]. - 隆基绿能 (LONGi Green Energy) is the largest manufacturer of monocrystalline silicon wafers and solar components, continuously improving its solar cell efficiency [3][4]. - 通威股份 (Tongwei) is a leading supplier of high-purity silicon and solar cells, with significant cost and technology advantages [3][4]. Group 4: Industry Trends - The wind power industry is showing a recovery trend, with total revenue increasing by 29.35% year-on-year and net profit rising by 16.19% in the first half of 2025 [2]. - The tower segment is benefiting from concentrated offshore project deliveries, with revenue and net profit growth of 59.13% and 43.60% respectively [2].