Venture(US:VEMLY) Sou Hu Cai Jing·2025-12-31 09:45Market Overview - The Shanghai Composite Index achieved an "11 consecutive days of gains" milestone, marking the longest streak of the year, while the Shenzhen Component Index and ChiNext Index fell by 0.58% and 1.23% respectively [1] - The A-share market's total trading volume reached 42.021 trillion yuan in 2025, setting a historical record [3] Industry Performance Non-ferrous Metals - The non-ferrous metals sector topped the annual industry performance chart, with the non-ferrous ETF (Huabao 159876) index rising by 91.67%, significantly outperforming major indices like the Shanghai Composite Index (18.41%) and CSI 300 (17.66%) [5][17] - Key stocks in the sector saw substantial gains, with Zijin Mining up 133.09%, Luoyang Molybdenum up 210.27%, and Jiangxi Copper up 176.92% [5] - The sector's strong performance is attributed to a combination of global capital expenditure cycles, manufacturing recovery, and improved domestic macroeconomic expectations [7] Military Industry - The military industry, particularly the commercial aerospace segment, saw significant gains, with the military ETF (Huabao 512810) rising over 32% in 2025 [10] - The sector experienced a surge in trading volume, with net purchases reaching 16.088 billion yuan, the highest in the industry [10] - Key stocks in the military ETF included Guobang Electronics and China Aerospace, both of which saw gains exceeding 10% [10] Chemical Industry - The chemical sector, represented by the chemical ETF (Huabao 516020), recorded a 41.09% increase in 2025, outperforming major indices [17] - The lithium battery supply chain showed a significant increase in both volume and price, with industrial-grade lithium carbonate prices rising to 116,000 yuan per ton [19] - The sector is expected to benefit from macroeconomic recovery and supply-side policy advancements, leading to improved profitability [19] Investment Opportunities - The non-ferrous ETF (Huabao 159876) is recommended for investors looking to gain exposure to the non-ferrous metals sector, as it covers a wide range of metals including copper, aluminum, and lithium [8] - The military ETF (Huabao 512810) is positioned as an efficient tool for investing in core military assets, covering various themes such as commercial aerospace and military AI [13] - The chemical ETF (Huabao 516020) offers a diversified investment approach across different segments of the chemical industry, including leading companies in lithium battery materials and agricultural chemicals [20]