（文章来源：每日经济新闻） 创业板新能源ETF国泰（159387）跟踪的是创新能源指数（399266），单日涨跌幅达20%，该指数从市 场中选取涉及清洁能源、新能源汽车、储能技术等领域的科技创新企业作为指数样本，重点关注具有高 成长性和技术创新能力的公司，以反映新能源领域前沿科技企业的整体表现。 天风证券指出，锂行业经历3年调整期，供需基本面加速改善，价格已从年内低点6万元/吨回升至13万 元以上。供给端受宜春锂云母矿证问题扰动，粗放式开采模式逐步退出；需求侧动力电池构成基本盘， 储能因经济性成为新增长极。钴方面，刚果金实施出口配额制（2025年配额仅9.66万吨，同比减少 56%），叠加印尼增量有限，中长期供需或转向紧平衡，钴价中枢有望提升。稀土永磁领域，供给端通 过《稀土管理条例》及南北集团整合持续优化，需求侧新能源汽车占比提升至42%，人形机器人、节能 电机等新应用打开长期空间，稀土价格中枢或持续上行。储能电池成为锂电需求新引擎，2025年前三季 度国内出货同比增67%，政策驱动下经济性逐步显现。 ...

Core Viewpoint - China is the largest country in the world in terms of rare earth resources, mining, production, and consumption, possessing a complete rare earth industry chain advantage [1] Group 1: Rare Earth Resources - According to USGS data, China's rare earth resource reserves account for approximately 40% of global totals, with a geographical distribution that is rich in medium and heavy rare earth resources, which have higher strategic value [1] Group 2: Market Demand - Rare earth permanent magnets are the largest consumption area for rare earths, experiencing rapid growth [1] - The demand for high-performance neodymium-iron-boron materials is most significantly driven by the electric vehicle sector, which is expected to account for about 50% of future demand [1] - Due to the rapid growth in sectors such as electric vehicles, energy-saving motors, and wind power generation, it is projected that the demand for high-performance neodymium-iron-boron magnetic materials will reach 212,000 tons by 2027, with a compound annual growth rate of 13% [1]