关注光伏50ETF（159864）投资机会，全年光伏装机有望达300GW

Core Insights - The photovoltaic (PV) industry in China is expected to see a cumulative new installed capacity of 240.3 GW from January to September 2025, representing a year-on-year increase of 49.3% with a consumption rate of 95% [1] - There was a significant increase in installations during April and May due to a policy-driven rush, but September saw a year-on-year decline of 53.8%, dropping to 9.7 GW [1] - With the optimization of electricity pricing mechanisms, the total PV installations for the year are projected to reach 300 GW, with the share of wind and solar power generation potentially exceeding 20% [1] - The industry faces a discrepancy in supply and demand expectations, with ongoing "anti-involution" policies on the supply side, alongside China's submission of its 2035 Nationally Determined Contributions (NDC 3.0), which will accelerate energy transition and improve demand [1] - The Photovoltaic 50 ETF (159864) tracks the photovoltaic industry index (931151), which selects listed companies involved in silicon materials, battery cells, modules, and PV power systems to reflect the overall performance of the PV industry chain [1] - The photovoltaic industry index is characterized by high growth potential and significant policy influence, effectively reflecting the overall development trends of the PV industry [1]