有效破解“内卷式”竞争！光伏ETF(159857)盘中申购已近3000万份，跟踪指数强势涨超2.5%！

Core Insights - The photovoltaic ETF (159857) has seen significant interest, with 26 million subscriptions and a turnover rate of 9.43%, indicating strong market engagement [1] - The underlying index, the CSI Photovoltaic Industry Index (931151), rose by 2.53%, with notable increases in constituent stocks such as Shangneng Electric (+11.43%) and GoodWe (+11.11%) [1] Product Highlights - The photovoltaic ETF (159857) offers a comprehensive investment opportunity across the entire photovoltaic industry chain, including silicon materials, wafers, components, equipment, and power plants [1] Relevant Events - Two government departments have issued a joint opinion to enhance intellectual property protection in the photovoltaic industry, aiming to mitigate "involution" competition and promote healthy industry development. The goal is to achieve significant results in intellectual property promotion by 2027 [1] - Multiple photovoltaic and energy storage companies are initiating plans for Hong Kong stock listings, with Zhejiang Chint Electric announcing its intention to issue overseas shares (H-shares) to support its international strategy and enhance competitiveness [2] Institutional Perspectives - Zheshang Securities notes that the photovoltaic equipment industry is entering a bottoming phase, with expectations for "anti-involution" policies to accelerate. Short-term focus is on technological advancements in N-type crystal growth and other innovations, while long-term attention is on perovskite battery developments that could open new growth avenues [2] - The electrical equipment sector is seeing increased demand in overseas markets, particularly optimistic about exports to the U.S. amid easing trade disputes, which is expected to boost demand for electrical and renewable energy equipment [2]