Venture(US:VEMLY) Mei Ri Jing Ji Xin Wen·2025-11-04 12:41Core Viewpoint - The A-share market opened lower on November 4, with the ChiNext New Energy ETF (Hua Xia, 159368) experiencing fluctuations and a maximum decline of 1.86%. However, it later showed a slight recovery, indicating resilience in the sector despite broader market challenges [1]. Group 1: Market Performance - The ChiNext New Energy ETF (Hua Xia, 159368) recorded a trading volume exceeding 21.97 million, making it the top performer among similar products [1]. - Key holdings such as Di'er Laser, Yonggui Electric, and Yingjie Electric saw gains of over 1% [1]. Group 2: Technological Breakthroughs - A significant milestone was achieved with the successful operation of a 2 MW liquid fuel thorium-based molten salt experimental reactor, marking the first instance of thorium fuel conversion in an international context. This reactor is currently the only one in the world to have achieved thorium fuel utilization, demonstrating the technical feasibility of using thorium resources in molten salt reactor systems [1]. - This breakthrough is expected to bolster China's nuclear technology and support the development of a low-carbon composite energy system, aiding in the acceleration of the "dual carbon" goals [1]. Group 3: Industry Outlook - Huafu Securities highlighted multiple favorable factors in the new energy sector, closely linked to core assets. The photovoltaic sector is benefiting from the "14th Five-Year Plan," which outlines a strategic framework for high-quality industry development, pushing for a transition from manufacturing to technological innovation [2]. - The breakthrough in thorium-based molten salt reactor technology adds long-term momentum, with its unique features allowing for waterless cooling and inland deployment, which can complement solar and wind energy to stabilize the grid [2]. - The ChiNext New Energy ETF (Hua Xia, 159368) is the largest ETF tracking the ChiNext New Energy Index, with a scale of 829 million as of October 31, 2025, and a daily average trading volume of 90.05 million over the past month. It has a storage capacity of 51% and solid-state battery content of 30%, aligning with current market trends [2].