Venture(US:VEMLY) Mei Ri Jing Ji Xin Wen·2025-11-03 07:33Core Viewpoint - The A-share market shows positive momentum with the growth of the New Energy ETF, driven by recent policy changes in Fujian province aimed at marketizing electricity prices for renewable energy projects [1][2]. Group 1: Market Performance - The A-share indices all turned positive, with the New Energy ETF Huaxia (159368) experiencing a slight increase of 0.32% in the afternoon session [1]. - The ETF's holdings, including Tianhua New Energy, surged over 13%, while Shenghong Co. and Sunshine Power rose more than 6% [1]. - As of 14:20, the New Energy ETF Huaxia (159368) had exceeded 850 million yuan in trading volume, ranking first among similar products [1]. Group 2: Policy Impact - The Fujian Provincial Development and Reform Commission issued a plan to reform the pricing mechanism for renewable energy, effective January 1, 2026, transitioning all on-grid electricity from wind and solar projects to market-based pricing [1]. - A price difference settlement mechanism will be established to compensate projects when market prices fall below the set mechanism price, stabilizing revenue expectations for renewable energy projects [1]. Group 3: Industry Outlook - East Wu Securities highlights that the demand for energy storage continues to exceed expectations, with supply tightening amid the gradual introduction of pricing mechanisms in China [2]. - The U.S. market is experiencing strong demand driven by policy support, while Europe is recovering in energy storage shipments after completing inventory reductions [2]. - The electric vehicle market is seeing a steady recovery in sales, coupled with rising demand for energy storage, leading to a supply-demand imbalance in battery production [2]. - Key materials in the battery supply chain are entering a price increase cycle, indicating potential profitability recovery for the industry [2]. - Next-generation technologies, such as solid-state batteries, are expected to advance rapidly in the coming year [2].