Venture(US:VEMLY) Mei Ri Jing Ji Xin Wen·2025-11-04 06:52Group 1 - The A-share market is experiencing a downward trend, with the ChiNext New Energy ETF (159368) falling over 3.72% in the afternoon session, indicating a collective pullback among its holdings, yet the long-term high prosperity logic of the industry remains unchanged, providing low-position layout opportunities [1] - As of the end of September, the cumulative installed capacity of new energy storage exceeded 100 million kilowatts, with peak shaving capacity continuously strengthening, and the maximum cross-regional power transmission reaching 150 million kilowatts, enhancing the regional power supply and demand balance [1] - The total installed power generation capacity in the country reached 3.72 billion kilowatts, a year-on-year increase of 18%, with coal reserves at power plants amounting to 220 million tons, ensuring energy supply during the heating season [1] Group 2 - CITIC Securities believes that the energy storage market is recovering, with a positive outlook on the global resonance trend of energy storage, driven by marketization of new energy and capacity pricing [2] - The domestic energy storage penetration rate is still below 10%, with an upward adjustment of the new installed capacity forecast for next year to 300 GWh, indicating strong investment momentum [2] - The ChiNext New Energy ETF (159368) is the largest ETF tracking the ChiNext New Energy Index, with a scale of 829 million yuan as of October 31, 2025, and a significant focus on energy storage and solid-state battery sectors, aligning with current market trends [2]