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光伏板块盘中迎净流入!“反内卷”积极推进,光伏50ETF(159864)盘中涨超2.2%
Mei Ri Jing Ji Xin Wen· 2025-08-15 07:49
甬兴证券表示,8月多晶硅产量预计增加至约12.5万吨,9月产量预计增至14万吨左右,多晶硅库存 预计将提升。根据硅业分会数据,8月份国内多晶硅产量预计在12.5万吨,环比7月10.78万吨预计 +15.96%;9月份部分复产产线继续放量,国内产量或将继续增至14万吨左右,而同期硅片产出基本持 稳,多晶硅库存将在高位基础上累增超过5万吨。为缓解供需压力,部分硅料企业正计划协同限产。若 限产落实到位,9月份产出有望环比持平,供需压力暂缓。 近期反内卷的顶层信号密集释放,价格法修订也表明了政策连贯性以及对反内卷的重视;目前价格 下行业大多处于亏损状态,后续不排除光伏玻璃价格上调至成本价左右,带动环节盈利修复。建议关注 光伏玻璃动态供需变化下库存去化周期的投资机会。 没有股票账户的投资者可以通过光伏50ETF的联接基金(013602)把握光伏板块投资机会。 注:如提及个股仅供参考,不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考,不 预示未来表现。市场观点随市场环境变化而变动,不构成任何投资建议或承诺。文中提及指数仅供参 考,不构成任何投资建议,也不构成对基金业绩的预测和保证。如需购买相关基金产品,请选择与 ...
工信部组织召开光伏企业座谈会,光伏50ETF(159864)大涨3.3%
Mei Ri Jing Ji Xin Wen· 2025-08-15 06:36
前期,工业和信息化部办公厅印发《2025年度多晶硅行业专项节能监察任务清单的通知》,对41家多晶 硅企业开展节能监察。前期中国光伏行业协会引导企业签署自愿控产自律公约,国内头部光伏玻璃企业 宣布自7月起集体减产30%。光伏作为我国整治内卷式竞争的重要行业之一,政策方向已经较为明确, 产能淘汰有望加速。 光伏50ETF(159864)跟踪中证光伏产业指数,包括硅料硅片+组件+设备+电站,集齐光伏全产业链。 消息面,工业和信息化部电子信息司发布关于召开光伏企业座谈会的预通知。按照有关工作部署,工业 和信息化部拟定于8月19日上午9:00在工业和信息化部组织召开光伏企业座谈会。 反内卷政策持续推进背景下,光伏50ETF(159864)大涨3.3%。 没有股票账户的投资者可以通过光伏ETF的联接基金(013602)把握光伏板块投资机会。 风险提示:不构成个股投资建议,指数涨跌不代表未来。观点随市场环境变化,不构成投资建议。提及 基金风险收益水平各不相同,请选择与自身风险偏好匹配的产品,谨慎投资。基金收益分配原则详见基 金法律文件。 (文章来源:每日经济新闻) ...
“反内卷”效果初显!该增配周期行业了?
Mei Ri Jing Ji Xin Wen· 2025-08-12 02:53
Group 1 - The revised Anti-Unfair Competition Law will take effect on October 15, 2025, aiming to regulate low-price disorderly competition among enterprises [1] - The Central Financial Committee emphasized the need to govern low-price competition and promote the orderly exit of backward production capacity [1] - The Ministry of Industry and Information Technology announced plans to implement growth stabilization work for ten key industries, including steel and non-ferrous metals, to eliminate backward production capacity [1] Group 2 - The "anti-involution" policy is gaining momentum, leading to a renewed outlook for cyclical industries, with July's PPI showing a month-on-month decline of 0.2%, the smallest drop since March [2] - The current supply-demand imbalance is more complex, with traditional industries facing "demand insufficiency" and emerging industries experiencing "supply expansion" issues [2] - The stock market has reacted strongly to the "anti-involution" policy, with industry valuations undergoing fundamental changes, indicating potential buying opportunities [3] Group 3 - Coal ETF (515220) is the only coal ETF in the market with a scale exceeding 8.1 billion, tracking the China Securities Coal Index [4] - Steel ETF (515210) is the only steel ETF in the market with a scale exceeding 3.2 billion, tracking the China Securities Steel Index [4] - The photovoltaic 50 ETF (159864) has seen over 80% growth in share this year, tracking the China Securities Photovoltaic Industry Index [4]
光伏板块“反内卷”积极,光伏50ETF(159864)盘中领涨超3%,近10日净流入超3亿元
Mei Ri Jing Ji Xin Wen· 2025-08-01 21:43
没有股票账户的投资者可以通过光伏50ETF的联接基金(013602)把握光伏板块投资机会。 光伏50ETF(159864)盘中领涨超3%,近10日净流入超3亿元。长江证券表示,光伏作为供需失衡 最严重、盈利压力最大的行业之一,近期政治高度不断提升,有望最先受益反内卷主线。目前光伏本轮 反内卷在产能、价格两条主线上已经取得阶段性进展和成果:1)价格方面,硅料价格显著上涨,带动 下游价格亦有望持续修复,后续价格有望修复至合理水平。2)产能方面,硅料收并购方案正在持续推 进,7月底之前或达成初步意向。继续看好本轮行情的持续性,同时强调本轮贝塔型修复属性。 注:如提及个股仅供参考,不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考,不 预示未来表现。市场观点随市场环境变化而变动,不构成任何投资建议或承诺。文中提及指数仅供参 考,不构成任何投资建议,也不构成对基金业绩的预测和保证。如需购买相关基金产品,请选择与风险 等级相匹配的产品。基金有风险,投资需谨慎。 每日经济新闻 (责任编辑:张晓波 ) 【免责声明】本文仅代表作者本人观点,与和讯网无关。和讯网站对文中陈述、观点判断保持中立,不对所包含内容 的准确性、可 ...
光伏板块“反内卷”积极,光伏板块盘中领涨!光伏50ETF(159864)涨超1.5%,近10日净流入超3亿元
Mei Ri Jing Ji Xin Wen· 2025-08-01 01:53
(文章来源:每日经济新闻) 8月1日早盘,光伏50ETF(159864)涨超1.5%,近10日净流入超3亿元。 长江证券表示,光伏作为供需失衡最严重、盈利压力最大的行业之一,近期政治高度不断提升,有望最 先受益反内卷主线。目前光伏本轮反内卷在产能、价格两条主线上已经取得阶段性进展和成果:1)价 格方面,硅料价格显著上涨,带动下游价格亦有望持续修复,后续价格有望修复至合理水平。2)产能 方面,硅料收并购方案正在持续推进,7月底之前或达成初步意向。继续看好本轮行情的持续性,同时 强调本轮贝塔型修复属性。 ...
“反内卷”概念股盘中回落,行情结束了吗?
Sou Hu Cai Jing· 2025-07-28 01:59
Core Viewpoint - The "anti-involution" concept is experiencing a temporary pullback, but this does not fundamentally change the valuation logic driven by policies aimed at regulating industry competition and promoting technological upgrades [1][3]. Market Performance - Coal ETF (515220) fell over 3%, Steel ETF (515210) dropped over 2%, while Building Materials ETF (159745) and Photovoltaic 50 ETF (159864) decreased nearly 1.5% [1]. - The market's pullback is seen as a release of high market sentiment rather than a reversal of underlying valuation logic [1]. Policy Implications - The core of the "anti-involution" policy focuses on standardizing industry competition, eliminating inefficient capacity, and reshaping the profit model of cyclical industries [1]. - Historical data shows that during the last supply-side reform from February 2016 to the end of 2017, the building materials industry rose by 45.75%, steel by 41.61%, and coal by 31.55% [1]. Investment Opportunities - Coal ETF (515220) has a market size exceeding 7 billion, tracking the China Coal Index [4]. - Steel ETF (515210) has surpassed 3 billion in size, tracking the China Steel Index [4]. - Building Materials ETF (159745) is the largest in its category with a size of 1.49 billion, tracking the China Building Materials Index [4]. - Photovoltaic 50 ETF (159864) has seen a net inflow exceeding 200 million for five consecutive days, tracking the China Photovoltaic Industry Index [4]. Economic Outlook - Citic Securities indicates that "anti-involution" may help stabilize the decline in PPI, and with demand-side expansion policies, a low-price state may be overcome [3]. - Huatai Securities suggests maintaining flexibility in trading strategies due to various events in August, while focusing on the effectiveness of "anti-involution" policies in the medium term [3].
光伏50ETF(159864)涨超1.2%,硅产业链价格传导或加速产能出清
Mei Ri Jing Ji Xin Wen· 2025-07-24 03:23
光伏50ETF(159864)涨超1.2%,硅产业链价格传导或加速产能出清。 江海证券指出,国家部委与协会正通过"反内卷"行动、产能并购、绩效标准等措施多维度干预,加 快过剩产能出清。硅料报价上涨推动硅片价格集体上行,多晶硅n型复投料成交均价周环比上涨 12.4%,n型颗粒硅成交均价周环比上涨15.2%,硅片价格最高涨幅达22.09%。组件价格亦小幅上涨,分 布式项目均价上调0.72%~2.92%。当前多晶硅产业正处于深刻调整、结构重塑的关键阶段,光伏行业防 内卷加速推进,产业链价格上涨有望向下游传导。 光伏50ETF(159864)跟踪的是光伏产业指数(931151),该指数由中证指数有限公司编制,从沪 深市场中选取涉及光伏产业链上下游的上市公司证券作为指数样本,覆盖硅料、硅片、电池片、组件等 核心环节,以反映中国光伏行业相关上市公司证券的整体表现。该指数具有较高的行业集中度和显著的 成长性特征。 没有股票账户的投资者可关注国泰中证光伏产业ETF发起联接A(013601),国泰中证光伏产业 ETF发起联接C(013602)。 注:如提及个股仅供参考,不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考 ...
光伏50ETF(159864)涨超1.0%,产业链价格回暖或促行业企稳
Mei Ri Jing Ji Xin Wen· 2025-07-21 05:46
Group 1 - The core viewpoint is that the recent increase in silicon material prices has solidified, with significant growth in transaction volume and around six companies securing new orders, indicating an overall increase in activity in the market [1] - The rise in prices and transaction volume in the silicon material sector is primarily influenced by top-level guidance aimed at reducing internal competition, suggesting that the profitability of the photovoltaic industry is expected to improve continuously, marking a turning point for the industry [1] - In the power equipment sector, the export value of transformers reached 5.65 billion yuan in June, representing a year-on-year increase of 47.8%, setting a historical record; the export value from January to June increased by 37.6% year-on-year [1] Group 2 - The State Grid's third equipment bidding for ultra-high voltage projects in 2025 includes 22 segments, with major demand coming from the Yanwei and Gan-Zhe projects, amounting to approximately 1 billion yuan [1] - The photovoltaic 50 ETF (159864) tracks the photovoltaic industry index (931151), which selects listed companies involved in various segments of the photovoltaic industry chain, including silicon materials, silicon wafers, battery cells, and modules, to reflect the overall performance and market dynamics of related listed companies [1] - Investors without stock accounts can consider the Guotai Zhongzheng Photovoltaic Industry ETF Initiated Link A (013601) and Guotai Zhongzheng Photovoltaic Industry ETF Initiated Link C (013602) [1]
反内卷行情继续演绎,关注钢铁ETF(515210)、建材ETF(159745)
Sou Hu Cai Jing· 2025-07-21 01:05
Core Viewpoint - The ongoing "anti-involution" trend shows a mixed market response, indicating a tug-of-war between bullish and bearish sentiments regarding the effectiveness of related policies [1] Group 1: Market Dynamics - The "anti-involution" policy is expected to have a significant impact, but its effects on overall inflation levels remain uncertain and require time to observe [1] - The recent groundbreaking ceremony for the Yarlung Tsangpo River downstream hydropower project, with a total investment of approximately 1.2 trillion yuan, is anticipated to boost demand in construction-related sectors such as cement and steel [1] Group 2: Sector Opportunities - The steel industry is projected to experience marginal improvement by 2025 due to reduced demand drag and declining costs, coupled with favorable "anti-involution" policies [2] - The cement sector is facing urgent "anti-involution" demand, with a relatively high market concentration, making it easier to implement related policies [2] - The coal industry is at a profitability bottom, with potential turning points emerging, and it offers strong allocation value in a low-interest-rate environment due to high dividends [2] - The photovoltaic sector, characterized by intense competition, is expected to respond significantly to "anti-involution" policies, with considerable potential for supply-demand improvements [2] Group 3: Investment Opportunities - Investors are encouraged to consider gradual investments in sectors benefiting from the "anti-involution" policies, particularly in steel, construction materials, coal, and photovoltaic industries [1][2]
“反内卷”催化建材筑底反弹,关注全市场最大的建材ETF(159745)
Sou Hu Cai Jing· 2025-07-18 07:36
Group 1 - The current "anti-involution" movement differs from the previous supply-side reform, as it encompasses a broader range of industries beyond traditional manufacturing [1] - Recent policies and initiatives from the Central Financial Committee have elevated market awareness of "anti-involution," impacting sectors like steel, building materials, coal, and photovoltaics [1] - The cement sector has been in a downward cycle, with companies attempting production limits to self-rescue, but price increases have not been very effective [1] Group 2 - The cement industry has shown a narrowing decline in demand compared to last year, with some marginal improvements due to infrastructure investment [2] - Despite expectations for a traditional peak season, the cement industry did not meet demand in the second quarter, leading to calls for better implementation of production capacity policies [2] - The cement industry's high concentration allows major companies to coordinate production limits, making the implementation of "anti-involution" policies relatively easier [2] Group 3 - Investment opportunities in the cement sector can be explored through the Building Materials ETF (159749), which tracks the construction materials index [3] - The ETF includes stocks related to cement and glass, both of which are involved in the "anti-involution" movement [3]