11月5日，A股三大指数低开后盘中跌幅持续收窄。光伏板块逆市走强。 热门ETF中，光伏ETF（159857）截至发稿上涨2.12%，涨幅暂居全市场ETF前五，成交额超1.9亿元， 换手率超8%，交投活跃。 Wind数据显示，该ETF盘中获申购达6300万份。值得注意得的是，该ETF昨日"吸金"3865万元。 | 序号 代码 | | 类型 名称 | 现价 | 涨跌 | 涨跌幅 ▼ | | --- | --- | --- | --- | --- | --- | | 1 | 159326 | 主 电网设备ETF | 1.504 | 0.054 | 3.72% | | 2 | 560980 | 主 光伏ETF龙头 | 0.734 | 0.018 | 2.51% | | 3 | 561380 | 行 电网ETF | 1.612 | 0.037 | 2.35% | | 4 | 562970 | 主 光伏ETF易方达 | 1.160 | 0.026 | 2.29% | | 5 | 159857 | 主 光伏ETF | 0.866 | 0.018 | 2.12% | 成分股中，特变电工涨停，阿特斯涨超5%，博威合金、天合光能 ...

Market Performance - On November 3, the market rebounded with all three major indices closing in the green, with the Shanghai Composite Index up by 0.55%, the Shenzhen Component Index up by 0.19%, and the ChiNext Index up by 0.29% [2] - Sectors such as Hainan, gaming, and film exhibition saw significant gains, while sectors like batteries, non-ferrous metals, and rare earth permanent magnets experienced declines [2] ETF Performance - The Silverhua CSI Photovoltaic Industry ETF (516880) rose by 3.7%, with notable performances from component stocks such as Arctech (688472.SH) up by 12.19%, TBEA (600089.SH) hitting the daily limit, and Hongyuan Green Energy (603185.SH) up by 8.89% [2] Photovoltaic Industry Developments - A new record for the photoelectric conversion efficiency of perovskite photovoltaic devices was reported, achieving 25.19% efficiency while maintaining over 95% performance after more than 1000 hours of continuous operation [2] - As of September 2025, wind power installed capacity is projected to reach approximately 580 million kilowatts, a year-on-year increase of 21.3%, while photovoltaic installed capacity is expected to reach 1.13 billion kilowatts, a year-on-year increase of 45.7% [3] - From January to September, domestic wind power added 61.09 GW of new capacity, a 56% year-on-year increase, although September saw a decline in new installations [3] Policy and Market Trends - The Chinese government has implemented "anti-involution" policies since June 2025, aiming to regulate competition in the photovoltaic industry and promote sustainable development, which is expected to bring substantial benefits to the sector [3] - The photovoltaic industry is undergoing significant transformation, with the market share of N-type monocrystalline silicon technology expected to exceed 96.9% by 2025, alongside advancements in TOPCon, HJT, and BC technologies [3] - The industry is anticipated to see a nearly 45% year-on-year increase in new installed capacity in 2024, marking a nearly 20-fold growth since 2015, indicating that photovoltaic energy has transitioned from a supplementary source to a primary energy source [3]

【产品亮点】 当前光伏行业正在迎来基本面修复，板块情绪正在迎来右侧拐点，看好困境反转信号明显的光伏板块， 认准直接受益反内卷的光伏ETF(159857)。 【相关产品】 光伏ETF(159857)，对应场外指数基金（A：011102；C：011103）。 【热点事件】 国家能源局发布光伏发电建设和运行情况：截至2025年9月底，全国光伏发电装机容量达到11.25亿千 瓦，同比增长45.7%。今年前三季度，全国光伏累计发电量9163亿千瓦时，同比增长44.1%，全国光伏 发电利用率94.7%。 截至2025年11月3日 14:13，光伏ETF(159857)一度涨超3.5%，现涨3.44%，盘中换手11.4%，成交2.74亿 元，市场交投活跃。跟踪指数中证光伏产业指数(931151)强势上涨3.28%，成分股阿特斯(688472)上涨 10.84%，特变电工(600089)上涨10.01%，弘元绿能(603185)上涨10.01%，德业股份(605117)，天合光能 (688599)等个股跟涨。 弘元绿能Q3单季利润爆发式增长：2025年第三季度实现归母净利润5.32亿元，远超前三季度累计的2.35 亿元，显示 ...

中泰证券研报认为，自2025年6月底以来，国家层面密集出台"反内卷"政策，六部门联合召开光伏产业 座谈会，部署规范竞争秩序，推动行业从低价无序竞争转向健康可持续发展，供需两侧的优化为行业带 来实质性利好。技术层面，光伏产业正经历深刻变革。2025年中国正式告别P型时代，N型单晶硅技术 市场份额预计超过96.9%，TOPCon、HJT、BC三大技术路线并驾齐驱，持续推动电池效率提升与度电 成本下降。中国光伏装机规模实现跨越式增长。2024年全国新增装机容量同比提升约45%，较2015年增 长近20倍，标志着光伏已从补充能源跃升为增量主力。行业基本面在经历调整后呈现拐头向上趋 势，"反内卷"政策有望推动竞争格局优化，助力盈利修复。 消息面上，新型钙钛矿光伏器件光电转换率再创新高。据科技日报，11月2日消息，从南京工业大学获 悉，该校科研团队采用"全真空热蒸发"技术，制备出0.066平方厘米的钙钛矿光伏器件，光电转换效率 高达25.19%，且该器件在持续工作超过1000小时后，性能依然保持在95%以上。 光伏50ETF（516880）紧密跟踪中证光伏产业指数，据Wind金融终端，光伏50ETF（516880）最新重 ...