Core Viewpoint - The A-share market is experiencing a collective rise, with over 3,500 stocks increasing in value, driven by recent government initiatives aimed at regulating the photovoltaic industry and improving market conditions [1] Industry Summary - A recent meeting involving six government departments emphasized the need for stronger regulation in the photovoltaic industry, focusing on managing investment processes and eliminating outdated production capacity through market-oriented and legal measures [1] - The meeting also highlighted the importance of curbing chaotic low-price competition and establishing a robust price monitoring system and product pricing mechanisms, while strictly prohibiting sales below cost and false marketing practices [1] - Huachuang Securities noted a growing call for self-discipline within the photovoltaic sector, suggesting that improvements in supply and demand dynamics, along with the implementation of supply-side policies, could lead to price recovery and enhanced profitability across the industry [1] Company Summary - The Huaxia New Energy ETF (159368) is the first ETF in the market to track the New Energy Index of the ChiNext board, which encompasses various sectors within the new energy and electric vehicle industries, including batteries and photovoltaics, indicating strong growth potential and alignment with self-discipline policies [1] - The management fee for the Huaxia New Energy ETF is set at 0.15%, with a custody fee of 0.05%, totaling a competitive rate of 0.2%, making it an attractive option for investors looking to capitalize on new energy opportunities [1]

Group 1 - The A-share market showed mixed performance with the Shanghai Composite Index leading the gains, returning to 3600 points during trading [1] - The retail penetration rate of new energy vehicles reached 53.3% in June 2025, an increase of 4.8 percentage points year-on-year, with domestic brands achieving a penetration rate of 75.4% compared to only 5.3% for mainstream joint venture brands [1] - July's retail sales of new energy vehicles are expected to reach 1.01 million units, with penetration rate projected to rise to 54.6% [1] Group 2 - The photovoltaic industry is undergoing a "anti-involution" movement, with various measures being implemented from policy to market to enhance operational capabilities [1] - Fuyao Glass, as a leading company in the industry, is responding to the Ministry of Industry and Information Technology's call by reducing photovoltaic glass production capacity to improve efficiency and address current industry challenges [1] Group 3 - The Huaxia New Energy ETF (159368) is the first ETF in the market tracking the New Energy Index, covering sectors such as batteries, photovoltaics, and semiconductors, which aligns well with the anti-involution policy [2] - The management fee for the Huaxia New Energy ETF is 0.15% and the custody fee is 0.05%, totaling 0.2%, making it the lowest fee among similar products [2] - The ETF provides an opportunity for investors to quickly capitalize on the growth potential in the new energy sector [2]