（文章来源：每日经济新闻） 光伏50ETF（159864）跟踪的是光伏产业指数（931151），该指数从市场中选取涉及硅材料、电池片、 组件、逆变器等太阳能光伏发电产业链上下游业务的上市公司证券作为指数样本，以全面反映中国光伏 行业相关上市公司证券的整体表现和发展趋势。该指数具有显著的成长性和波动性特征。 国信证券指出，电力设备行业受益于全球数据中心建设浪潮，AIDC电力设备需求呈现爆发式增长，变 压器、开关柜等环节龙头企业有望受益。光伏行业在"反内卷"政策推动下，供需格局有望改善，硅料环 节盈利能力或将率先修复；少银化/无银化浆料成为降本突破口，2026年无银化产品或将步入产业化量 产前夕，钙钛矿电池产业化进程持续加速。电网设备方面，2026年国内特高压核准、招标有望加速，智 能电表价格迎来复苏，海外业务保持高增态势。风电行业2026年新增装机有望保持10%-20%增长，海风 装机量有望达10-12GW，海缆和管桩环节企业迎来订单和业绩共振。全球储能需求稳步增长，预计2026 年装机达404GWh，同比增长38%，国内反内卷政策推动行业整合，盈利能力有望见底回升。 ...

Core Viewpoint - The photovoltaic industry is experiencing a recovery, with the midstream manufacturing sector showing strong performance and prices for polysilicon and solar cells rebounding, indicating an improvement in supply-demand dynamics [1]. Group 1: Industry Performance - The photovoltaic 50 ETF (159864) rose over 2% in early trading on November 7 [1]. - The power equipment industry is in a recovery phase, with the photovoltaic industry chain prices stabilizing and sending positive signals [1]. - The current trend shows a marginal improvement in the supply-demand relationship for polysilicon and solar cells, as their spot prices are on the rise [1]. Group 2: Index and ETF Information - The photovoltaic 50 ETF tracks the photovoltaic industry index (931151), which selects listed companies involved in silicon materials, battery cells, modules, and inverters from the Shanghai and Shenzhen markets [1]. - This index focuses on the renewable energy and environmental sectors, effectively tracking the development trends and market dynamics of the photovoltaic industry [1].

Core Insights - The photovoltaic 50 ETF (159864) experienced a 2% increase during trading on October 24, driven by rising electricity demand and investment in power equipment [1] - Huatai Securities forecasts a 4.6% year-on-year increase in national power generation by September 2025, reaching 8,558 billion kWh, with specific changes in generation from various sources [1] - The photovoltaic generation is expected to see a significant year-on-year increase of 76.2%, reaching 570 billion kWh, supported by a notable rise in hydropower output [1] Industry Overview - The photovoltaic 50 ETF tracks the photovoltaic industry index (931151), which includes listed companies involved in the entire photovoltaic supply chain, such as silicon materials, battery components, and power station operations [1] - The photovoltaic industry index is characterized by high growth potential and technological innovation, making it a significant representative index in the renewable energy sector [1]

Core Viewpoint - The company aims to exceed a total scale of 13.6 GW for photovoltaic power stations by 2025, indicating a strong growth trajectory in solar energy investments [1] Summary by Relevant Categories Operational Capacity - As of June 30, 2025, the company has approximately 6.535 GW of operational power stations, 2.365 GW of stations under construction, 2.217 GW of planned projects, and 1.529 GW of signed pre-acquisition agreements, totaling about 12.647 GW [1] Future Plans - The company is committed to actively developing photovoltaic power station construction and accelerating the progress of ongoing and acquisition projects [1]