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、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 2026年1月5日，光伏ETF华夏（515370）上涨1.2%，持仓股罗博特科涨超12%，旗滨集团涨超 6%，弘元绿能涨超5%。资金面上，光伏ETF华夏（515370）近二十日净流入超12亿元，最新规模达 15.2亿元。 消息面上，近日，国家知识产权局、工业和信息化部发布《关于进一步加强光伏产业知识产权保护 工作的意见》，明确提出要加强知识产权协同保护，根据对企业核心专利的综合性评议以及行政裁决对 知识产权侵权行为的裁定，加强光伏制造行业规范条件企业名单动态管理；强化知识产权海关保护，依 法禁止侵犯知识产权的光伏产品进出口。 平安证券认为，尽管光伏产业技术迭代速度较快，但当依然面临较严重的同质化竞争问题，其重要 原因之一是知识产权保护有待加强。本次主管部门发布加强光伏知识产权保护相关政策，有助于充分发 挥知识产权保护和激 ...

2025年12月29日，午后光伏概念震荡走强，异质结、钙钛矿电池方向领涨，光伏ETF华夏 （515370）持仓股迈为股份涨超17%，钧达股份涨超5%，晶科能源涨超3%。资金面上，光伏ETF华夏 （515370）近二十日净流入超12亿元，最新规模达15.6亿元，创历史新高。 每日经济新闻 （责任编辑：董萍萍 ） 【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、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 消息面上，中信建投研报称，太空光伏已从试验阶段迈入商业化加速期，P型HJT和钙钛矿叠层有 望成为短中期太空光伏的主流技术路线。 光伏ETF华夏（515370）跟踪中证光伏产业指数，涉及光伏产业链上、中、下游企业，包括硅片、 多晶硅、电池片、电缆、光伏玻璃、电池组件、逆变器、光伏支架和光伏电站等，能够更好的反映光伏 产业整体表现。 ...

2025年12月23日电池板块大涨，核心是碳酸锂期货强势上涨+储能需求超预期+行业盈利改善+机构资金 回流四大利好共振，叠加政策与技术催化，推动板块估值修复与情绪升温。一、供应端：扰动频发，收 缩预期持续升温 1、国内矿端复产与审批节奏不及预期 宁德时代枧下窝锂矿12月中旬进入首次环评公示，市场判断后续审批与复产仍需较长时间，短期新增供 应无望，强化供应偏紧预期。宜春拟注销27宗采矿权（含1宗过期含锂瓷石矿），虽实质影响有限，但 市场解读为区域资源管控收紧，加剧对供应稳定性的担忧。部分高成本锂矿产能在前期价格低谷期退 出，行业供给结构优化，优质产能话语权提升，支撑价格弹性。 2、海外矿端挺价+供给潜在扰动 澳洲锂矿报价维持1200美元/吨以上高位，年度长协价格重心上移，为国内锂价提供成本支撑。尼日利 亚等国拟暂停采矿活动（待审批），引发海外锂资源供应波动担忧，进一步推升市场对全球锂资源供给 紧张的预期。 3、低库存与季节性减产助推惜售 1、机构集体上调锂价预期 机构层面，摩根大通大幅上调锂价预期，将2026年碳酸锂目标价从7万元/吨上修至9万元/吨，并明确判 断2025-2026年全球锂市场将处于供应缺口状态 ...

国金证券表示，7月以来，光伏行业"反内卷"顶层信号密集释放，且政策规格持续提升。价格管控方 面，多晶硅价格逐步覆盖成本，预计后续产业链价格中枢有望逐步覆盖成本；供给侧出清方面，收储动 态推进，多晶硅能耗新标有望加速落后产能出清。预计后续"反内卷"将持续推进，带动行业盈利修复。 光伏ETF华夏（515370）跟踪中证光伏产业指数，涉及光伏产业链上、中、下游企业，包括硅片、多晶 硅、电池片、电缆、光伏玻璃、电池组件、逆变器、光伏支架和光伏电站等，能够更好的反映光伏产业 整体表现。 （文章来源：每日经济新闻） 12月24日，午后光伏ETF华夏（515370）快速拉升，上涨1.67%。资金面上，昨日光伏ETF华夏 （515370）流入1亿元，近二十日净流入超10亿元。 根据IEA日前发布的预测报告，2023~2035年中东和北非地区的发电量将年均增长约50%，太阳能光伏 增速最快，2035年光伏发电量较2023年将大增15倍。 ...

光伏ETF华夏（515370）跟踪中证光伏产业指数，涉及光伏产业链上、中、下游企业，包括硅片、多晶 硅、电池片、电缆、光伏玻璃、电池组件、逆变器、光伏支架和光伏电站等，能够更好的反映光伏产业 整体表现。 （文章来源：每日经济新闻） 目前，光伏行业基本面已经初步改善。中国光伏行业协会监测的数据显示，多晶硅现货价格从3.54万 元/吨升至5.36万元/吨，组件招标均价稳步回升。与此同时，2025年第三季度，不少企业现金流环比改 善，个别企业已实现扭亏。 中原证券认为，2026年光伏行业进入持续的产能出清周期，后续围绕"反内卷"的产品价格销售措施、企 业间并购整合、行业准入门槛的提高以及产品质量标准提高的影响将会逐步显现。光伏行业竞争格局和 产业链生态有望优化，存量光伏企业业绩将呈逐步改善趋势。公募基金对光伏板块配置处于低位，低估 值和供需格局改善有望吸引跟多资金配置。 12月23日，光伏ETF华夏（515370）上涨0.22%，持仓股阿特斯涨超6%，微导纳米涨超5%，捷佳伟创 涨超3%。资金面上，光伏ETF华夏（515370）近二十日流入超9亿元。 ...

2025年12月15日，A股三大指数集体低开，光伏ETF华夏（515370）低开0.11%。资金面上，光伏ETF华 夏（515370）近期持续获资金布局，近10个交易日净流入超2.9亿元。 经济金融层面，该平台承接数百亿元级潜在债务，可帮助化解银行与供应商危机，推动价格回归合理区 间，恢复全产业链"造血"功能；产业战略层面，扭转亏本出口、"内卷外化"困局，企业盈利后可持续投 入研发，巩固全球核心竞争力；制度创新层面，作为"有效市场+有为政府"结合下的治理探索，若成功 可为其他深陷内卷式恶性竞争行业提供可复制范本。 华泰证券认为，平台将与能耗管控政策形成协同效应——此前工信部已开展41家硅料企业专项节能监 察，后续存量产能能耗标准修订落地后，平台可优先整合高能耗落后产能，实现"政策筛选+市场收 购"的精准出清。 消息面，2025年12月12日中国光伏协会发文：北京光和谦成科技有限责任公司完成注册，标志着光伏行 业酝酿已久的"多晶硅产能整合收购平台"正式落地。这一由相关主管部门联合指导、多家龙头骨干企业 共同发起的产业治理创新，被业内视为破解光伏"内卷式"恶性竞争的关键之一。 该平台拟采取"两条腿走路"的创新模式 ...

【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、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 估值方面，中证光伏产业指数最新PB为2.46倍，处在历史48.53%分位，仍具备一定的估值安全边 际，当前处在历史中枢附近，位置不高。交易拥挤度方面，截至2025年三季度末，主动权益基金在电力 设备行业的重仓持股比例为12.3%，环比有所提升，但相比此前最高21%，仍然属于偏低位置。 每日经济新闻 （责任编辑：张晓波 ） 2025年12月12日，A股三大指数涨跌不一，光伏ETF华夏（515370）上涨0.22%。资金面上，光伏 ETF华夏（515370）近期持续获资金布局，近10个交易日净流入超2.9亿元。 光伏ETF华夏（515370）跟踪中证光伏产业指数，涉及光伏产业链上、中、下游企业，包括硅片、 多晶硅、电池片、电缆、光伏玻璃、电池组件、逆变器、光伏支架和光伏电站等，能够更好的反映光伏 产业整体表现。 ...

Core Viewpoint - The A-share market experienced a collective decline on December 10, with the photovoltaic ETF Huaxia (515370) retreating by 1.84%. However, there has been a significant inflow of over 290 million yuan into the ETF over the past four trading days, indicating strong investor interest in the photovoltaic sector [1]. Group 1: Market Performance - The A-share market's three major indices weakened collectively, with the photovoltaic ETF Huaxia (515370) showing a decline of 1.84% [1]. - Despite the decline, the Huaxia photovoltaic ETF saw a substantial inflow of over 290 million yuan over four consecutive trading days [1]. Group 2: Company Holdings - According to the equity penetration chart of Beijing Guanghe Qiancheng Technology Co., Ltd., Tongwei Co., Ltd.'s subsidiary, Tongwei Photovoltaic Technology (Emei Mountain) Co., Ltd., holds a 30.35% stake with a subscribed registered capital of 91.05 million yuan [1]. - Other significant shareholders include GCL-Poly Energy Holdings' subsidiary, which holds 16.79%, and other companies such as Dongfang Hope, Daqo New Energy, New Special Energy, and Asia Silicon with holdings of 11.3%, 11.13%, 10.12%, and 7.79% respectively [1]. Group 3: Industry Insights - Wanlian Securities views the establishment of the platform as an effective measure against "involution" in the photovoltaic industry. They believe that the high asset and energy-intensive nature of polysilicon production should avoid low-price competition [1]. - The platform aims to reduce supply-demand mismatches by enabling leading companies to jointly store resources, which is expected to stabilize polysilicon market prices and support the overall healthy operation of the global photovoltaic industry [1]. Group 4: ETF Overview - The Huaxia photovoltaic ETF (515370) tracks the CSI Photovoltaic Industry Index, encompassing upstream, midstream, and downstream companies in the photovoltaic supply chain, including silicon wafers, polysilicon, battery cells, cables, photovoltaic glass, battery modules, inverters, photovoltaic brackets, and power stations [1].

Core Viewpoint - The A-share market saw a collective rise in its three major indices, with the photovoltaic ETF Huaxia (515370) increasing by 0.77%, driven by significant inflows and positive industry developments [1] Group 1: Market Performance - The photovoltaic ETF Huaxia (515370) experienced a substantial inflow of over 110 million yuan in the past two trading days [1] - Key holdings such as Maiwei Co. surged over 11%, while Jiejiawei and Juhua Materials rose by more than 5% and 1% respectively [1] Group 2: Industry Developments - The China Photovoltaic Industry Association will hold the 2025 Photovoltaic Industry Annual Conference in Xi'an, Shaanxi Province, from December 17 to 18, 2025, to discuss key industry issues [1] - The conference aims to address the challenges of the photovoltaic industry, including the "involution" dilemma, and promote high-quality and sustainable development [1] Group 3: Future Outlook - Zhongyuan Securities predicts that the photovoltaic industry will enter a sustained capacity clearance cycle by 2026, driven by "anti-involution" policies, mergers and acquisitions, and increased entry barriers [1] - The performance of existing enterprises is expected to gradually improve as the competitive landscape optimizes [1] Group 4: ETF Composition - The photovoltaic ETF Huaxia (515370) tracks the CSI Photovoltaic Industry Index, encompassing upstream, midstream, and downstream companies in the photovoltaic supply chain, including silicon wafers, polysilicon, battery cells, cables, photovoltaic glass, battery modules, inverters, photovoltaic brackets, and power stations [1]

Core Viewpoint - The A-share market experienced fluctuations with the photovoltaic ETF Huaxia (515370) declining by 0.56% after a significant inflow of over 100 million yuan on December 4. The production of various components in the photovoltaic industry has decreased in December, indicating potential challenges ahead for the sector [1]. Industry Summary - In December, domestic production of polysilicon decreased by 0.96% month-on-month, while silicon wafer production fell by 15.95%, battery cell production by 12.61%, and module production by 13.58%. This decline is attributed to factors such as industry self-discipline [1]. - CITIC Construction Investment anticipates that the "price control" measures have led to price increases in the main industry chain since July, with polysilicon turning profitable in Q3. The "volume control" measures are also progressing smoothly due to the dry season [1]. - Current inventory levels for polysilicon across the industry are approximately 460,000 tons, indicating significant pressure. If demand remains flat or slightly decreases next year, a further reduction of about 30% in polysilicon production will be necessary to normalize inventory levels by 2026 [1]. - Overall, the "anti-involution" policy is expected to help restore profitability across various segments of the photovoltaic industry [1]. Company Summary - The photovoltaic ETF Huaxia (515370) tracks the CSI Photovoltaic Industry Index, which includes companies across the upstream, midstream, and downstream segments of the photovoltaic industry, such as silicon wafers, polysilicon, battery cells, cables, photovoltaic glass, battery modules, inverters, photovoltaic brackets, and power stations. This ETF provides a comprehensive reflection of the overall performance of the photovoltaic industry [1].