Sungrow Power Supply(SZ:300274) Sou Hu Cai Jing·2025-10-29 04:13Core Insights - The photovoltaic ETF (159857) has seen a significant increase of 4.56% as of October 29, 2025, with a trading volume of 253 million yuan, indicating active market participation [2] - The ETF has experienced a weekly growth of 25.5 million yuan, reflecting strong investor interest [2] - Major stocks within the ETF, such as LONGi Green Energy and Sungrow Power Supply, have also shown substantial gains, with increases of 12.45% and 7.90% respectively [2] Product Highlights - The photovoltaic ETF (159857) is the largest in the Shenzhen market, providing a comprehensive investment option across the entire photovoltaic industry chain, including silicon materials, wafers, components, equipment, and power stations [2] - Related products include the corresponding off-market index funds (A: 011102; C: 011103) [2] Company Performance - Sungrow Power Supply, a leading player in the energy storage sector, reported a revenue of 66.402 billion yuan for the first three quarters of 2025, marking a year-on-year increase of 32.95% [3] - The net profit attributable to shareholders for the same period was 11.881 billion yuan, reflecting a growth of 56.34% [3] - In Q3 2025 alone, the company achieved a revenue of 22.869 billion yuan, up 20.83% year-on-year, with a net profit of 4.147 billion yuan, increasing by 57.04% [3] Industry Trends - According to CITIC Construction Investment Securities, the photovoltaic industry is currently facing a supply-demand imbalance, with ongoing efforts to address "involution" in the sector [3] - Key measures include the regulation of sales below cost, capacity consolidation, and the elimination of outdated production capacity, which have shown positive results in increasing prices for silicon materials, wafers, and cells [3] - The tightening of energy consumption standards for polysilicon is expected to be a significant factor in future capacity reductions [3]