发改委重磅政策将预期变为政策底。 国家发改委、国家能源局9月12日发布《新型储能规模化建设专项行动方案（2025—2027 年）》，明确 2027年目标全国新型储能装机规模达到1.8亿千瓦，带动直接投资2500亿元，对应未来两年每年新增 140-210GWh。参考2025年新增130-150GWh，政策将保障至少速度不退坡。这项重磅政策的发布有力地 保障了储能景气度，为储能投资再上一层保险。 136号文在今年1月发布后，储能各月招标数据均显著高于去年同期，景气度持续走高，但市场担心是因 为136号文在6月30日实施前产业集中抢装，因而存在"强现实，弱预期"的预期差，叠加取消强制配储的 扰动，行业市场表现承压。 变化：8月储能招标数据出炉再超市场预期，创历史新高，排除抢装影响后，市场开始逐步接受储能长 期逻辑明显改善的实施，配合大量龙头电池厂商订单和排产超预期，形成了强现实与强预期的共振。 储能电池ETF（159566，联接A/C：021033/021034）跟踪国证新能源电池指数，聚焦储能产业链，截至 9月12日，储能电池ETF（159566）规模达到11.43亿元，连续13日资金净流入，是全市场聚焦储能产业 ...

| 今日 | 该指数 该指数自20 | | --- | --- | | 该指数涨跌 | 滚动市销率 发布以来估1 | | 3.2% | 2.3倍 46.39 | 截至收盘，国证新能源电池指数上涨3.4%，中证光伏产业指数上涨3.2%，中证新能源指数上涨2.3%，中证上海环交所碳中和指数上涨1.8%，储能电池ETF （159566）全天获1600万份净申购。截至昨日，该产品近一周持续获资金净流入，合计约7亿元。 国信证券表示，8月国内储能系统招标容量达到47.2GWh，实现同比和环比的快速增长。今年以来国内储能系统保持较高的订单需求，反映国内建设新型电 力系统对储能的高度需求，为未来两年国内储能市场平稳发展奠定基础。 每日经济新闻 ...

Market Performance - The Shanghai Composite Index rose by 1.24%, ending a three-day decline, while the ChiNext Index surged by 6.55%, reaching its highest closing price since January 2022 [1] Sector Highlights - Over 4,800 stocks in the market saw gains, with 105 stocks hitting the daily limit up. The new energy and battery sectors experienced a surge, with related ETFs dominating the top gainers list [2] Demand and Supply Dynamics - Leading companies in the battery sector, such as EVE Energy and CATL, reported a significant increase in orders, with a growth of 80% recently. This surge in downstream demand has led to tight production schedules and a supply-demand imbalance [3] Financial Performance - The battery sector's mid-year performance showed a strong rebound, with the CSI Battery Theme Index reporting a 20% year-on-year increase in net profit and an 11% increase in revenue. The sector is confirming a turning point in its performance [4] Future Projections - By mid-2025, global power battery installations are expected to reach 504.4 GWh, a year-on-year increase of 37.3%. Chinese companies are projected to account for 68.79% of the top 10 global power battery enterprises [4] - The demand for lithium batteries is anticipated to continue growing, with a projected 340 GWh shipment of energy storage lithium batteries in 2024, reflecting a 51.1% year-on-year increase [4] Investment Insights - Zhongyuan Securities forecasts that lithium battery demand will keep rising, with a slowdown in price declines across the industry chain. Overall revenue and net profit for the sector are expected to recover, although performance will vary among different segments [5] - Three investment themes are recommended for the fourth quarter: focusing on industry leaders benefiting from policy support, companies with strong R&D and market share growth, and opportunities related to solid-state batteries [5]

ETF Industry News - Multiple ETFs in the power equipment sector saw significant increases, with the storage battery ETFs from Guangfa (159305.SZ) and (159566.SZ) rising by 4.55% and 4.45% respectively, while the battery ETF (561910.SH) increased by 4.01% [1][10] - Foreign investment giants, including Barclays and UBS, have increased their holdings in ETFs significantly compared to the end of last year, indicating a growing confidence in the A-share market driven by the internationalization of the RMB and improving corporate earnings [2] Market Overview - The three major indices showed mixed results, with the Shanghai Composite Index down 1.16% to 3813.56 points, the Shenzhen Component Index down 0.65% to 12472.0 points, and the ChiNext Index up 0.95% to 2899.37 points [3] - Over the past five trading days, the ChiNext Index has performed the best with a gain of 6.47%, followed by the Sci-Tech Innovation 50 Index with 2.67% [3] Sector Performance - In today's sector performance, the comprehensive, communication, and power equipment sectors ranked highest with daily increases of 1.64%, 1.61%, and 1.44% respectively, while the defense, non-bank financials, and computer sectors lagged behind with declines of -5.83%, -3.05%, and -2.71% [5] - Over the past five days, the comprehensive, communication, and non-ferrous metals sectors have shown the best performance, with gains of 11.12%, 7.12%, and 5.35% respectively [5] ETF Market Performance - The overall performance of ETFs showed that commodity ETFs had the best average daily increase of 1.11%, while stock industry index ETFs had the worst performance with an average decline of -1.55% [7] - The top-performing ETFs today included the storage battery ETFs from Guangfa (159305.SZ) and (159566.SZ), and the battery ETF (561910.SH), with daily returns of 4.55%, 4.45%, and 4.01% respectively [10][11] Trading Volume of Different ETF Categories - The top three ETFs by trading volume today were the ChiNext ETF (159915.SZ) with a trading volume of 8.368 billion, the Sci-Tech Innovation 50 ETF (588000.SH) with 5.667 billion, and the Securities ETF (512880.SH) with 4.585 billion [13][14]

Group 1 - The ETF market showed mixed performance on the 3rd, with the energy storage battery ETF (159566) leading gains at 2.99% and the aerospace ETF (159208) experiencing the largest decline at 5.92% [2] - The total trading volume of ETFs reached 260.836 billion yuan, with stock ETFs accounting for 112.819 billion yuan, bond ETFs for 93.707 billion yuan, money market ETFs for 17.852 billion yuan, commodity ETFs for 4.369 billion yuan, and QDII ETFs for 32.090 billion yuan [2] - The highest trading volumes among non-money market ETFs were recorded for the GF CSI Hong Kong Innovative Medicine QDII ETF (513120) at 7.298 billion yuan, E Fund CSI Hong Kong Securities Investment Theme ETF (513090) at 6.854 billion yuan, and E Fund ChiNext ETF (159915) at 4.644 billion yuan [2]

Group 1 - The ETF market showed mixed performance on September 3, with the energy storage battery ETFs experiencing gains while aerospace ETFs faced declines [1] - The energy storage battery ETF (159566) increased by 2.99%, and the S&P Biotechnology ETF (159502) rose by 2.84% [1] - The energy storage battery ETF from GF (159305) saw a rise of 2.50%, indicating strong interest in this sector [1] Group 2 - Aerospace ETFs had a negative performance, with the aerospace ETF (159208) dropping by 5.92%, and Tianhong's aerospace ETF (159241) declining by 5.36% [1] - The aerospace ETF (159267) also fell by 5.21%, reflecting a broader trend of weakness in the aerospace sector [1]

Market Overview - The market experienced fluctuations with mixed performance across the three major indices, where digital currency stocks surged collectively, oil and gas stocks showed active performance, and bank stocks strengthened against the trend [1] - High-priced stocks underwent collective adjustments, while ETFs related to chemicals and agriculture rose nearly 2% [1] ETF Performance - Chemical industry ETF rose by 1.99% to 0.82 [2] - Agricultural 50 ETF increased by 1.78% to 0.799 [2] - Other notable ETFs include the Petrochemical ETF at 1.74% and the Agricultural ETF at 1.69% [2] Livestock Industry Insights - Most listed livestock companies are currently at historical low market values per head, with significant potential for growth towards historical averages, indicating long-term investment value [3] - The demand for high-end magnetic materials is rapidly increasing due to policies promoting "carbon neutrality," alongside a recovery in traditional manufacturing and the acceleration of humanoid robots, which injects growth momentum into rare earth demand [5] Declining Sectors - New energy and rare earth-related ETFs experienced a decline of approximately 2% [3] - Specific ETFs such as the New Energy ETF and Rare Earth ETFs saw decreases of 2.08% and 1.97% respectively [4]

Core Viewpoint - The renewable energy sector is experiencing positive momentum, with various indices reflecting significant gains in the market, indicating a growing interest and investment in clean energy technologies. Group 1: Index Performance - The Guozheng New Energy Battery Index rose by 2.5% as of midday close [1] - The Zhongzheng New Energy Index increased by 2.2% [1] - The Zhongzheng Photovoltaic Industry Index saw a rise of 1.6% [1] - The Zhongzheng Shanghai Carbon Neutrality Index grew by 1.0% [1] Group 2: ETF Tracking Indices - The New Energy ETF managed by E Fund tracks the Zhongzheng New Energy Index, which covers the entire renewable energy industry chain, including lithium batteries, photovoltaics, wind power, hydropower, and nuclear power [2] - The Energy Storage Battery ETF also managed by E Fund tracks the Guozheng New Energy Battery Index, focusing on companies involved in battery manufacturing and energy storage systems [2] - The Photovoltaic ETF managed by E Fund tracks the Zhongzheng Photovoltaic Industry Index, which includes 50 representative companies across the photovoltaic industry chain [2] - The Carbon Neutrality ETF managed by E Fund tracks the Zhongzheng Shanghai Carbon Neutrality Index, comprising 100 stocks with significant potential for carbon reduction in high-emission sectors [2] Group 3: Valuation Metrics - The Zhongzheng New Energy Index has a valuation of 40.5 times earnings, with a 56.2% increase since its inception in 2015 [2] - The Guozheng New Energy Battery Index has a valuation of 23.2 times earnings, with a 62.1% increase since its inception in 2015 [2] - The Zhongzheng Photovoltaic Industry Index has a valuation of 1.9 times sales, with a 25.0% increase since its inception in 2019 [2] - The Zhongzheng Shanghai Carbon Neutrality Index has a rolling valuation of 21.2 times earnings, with a 56.6% increase since its inception in 2021 [2]

Group 1 - The core viewpoint of the articles indicates a significant rise in photovoltaic stocks, with notable increases in companies such as Sungrow Power (over 10% rise) and Jinlang Technology (over 4% rise) [1] - Related ETFs in the photovoltaic and new energy sectors have also seen an approximate increase of 2% [1] - Institutions suggest that the photovoltaic industry is at a cyclical bottom and may require accelerated supply-side clearance, with stricter energy consumption regulations from the Ministry of Industry and Information Technology [2] Group 2 - The Ministry of Industry and Information Technology is expected to implement stricter regulations on energy and water consumption for new production capacity, aiming to control energy consumption as a means to curb existing output [2] - The industry is reaching a preliminary self-discipline agreement, gradually reducing production to near two-year lows, which is anticipated to lead to a recovery in profitability as supply-side adjustments take place [2]

Core Insights - By the end of 2024, China's installed capacity of renewable energy, primarily wind and solar, is expected to reach 1.45 billion kilowatts, surpassing thermal power for the first time [1] - The retail penetration rate of new energy passenger vehicles in China is projected to reach 57.6% in 2024 [1] - The energy sector is anticipated to undergo significant transformations, with key catalysts expected in 2025 [1] Group 1: Future Energy Landscape - Wind and solar energy will continue to be the mainstay of clean energy, with steady growth expected due to mature technology and economic viability [2] - Energy storage is set to become a crucial regulator for renewable energy, addressing issues like grid absorption and the intermittency of renewable generation [2] - Controlled nuclear fusion is emerging as an ideal future energy source, with advancements in technology accelerating its commercialization timeline to potentially 2030-2035 [2][6] Group 2: 2025 Significance - The year 2025 marks a pivotal transition for renewable energy, where it is expected to officially surpass traditional energy sources in installed capacity [4] - The penetration rate of new energy vehicles is projected to exceed 50% in 2025, indicating a shift towards mainstream adoption [4] - 2025 will also see the full market entry of renewable energy, with energy prices determined by supply and demand, enhancing the role of energy storage in profitability [5] Group 3: China's Leadership in Energy Revolution - China's energy transformation is supported by robust policy frameworks, with a comprehensive "1+N" policy system guiding carbon neutrality efforts [8] - The country is a global leader in solar energy, accounting for approximately 40% of global installed capacity and 90% of production capacity [8] - The manufacturing capabilities of China are crucial for the energy revolution, showcasing the integration of high-end manufacturing and technological innovation [10] Group 4: Investment Opportunities in Future Energy - Future energy-related ETFs can be categorized into three levels: carbon neutrality, the entire renewable energy supply chain, and specific segments [10] - ETFs such as E Fund (562990) cover deep decarbonization fields, while others like E Fund (516090) encompass a broad range of renewable sectors including lithium batteries, solar, wind, and nuclear power [10][11] - Investors can select suitable ETFs based on personal circumstances to engage in future energy investments [11]