Group 1 - The core viewpoint of the article highlights a significant surge in the photovoltaic sector, with the photovoltaic ETF (159857) index soaring nearly 7% and attracting a subscription of 63 million shares [1] - Elon Musk expressed strong support for space photovoltaics at the Davos Forum, revealing key production capacity plans, with SpaceX and Tesla aiming to achieve an annual solar manufacturing capacity of 100 GW within the next three years [1] - China plans to deploy 13,000 low-orbit satellites between 2026 and 2030, following the submission of over 200,000 satellite constellation applications, marking a new phase in commercial space deployment that will drive long-term demand for space photovoltaics [1] Group 2 - Financial analysts believe that the rise of commercial space will benefit space photovoltaics, with satellite constellations like SpaceX's Starlink and China's Qianfan constellation significantly increasing the demand for space photovoltaic cells [1] - The largest photovoltaic ETF in the Shenzhen market (159857) tracks the photovoltaic industry index, covering the entire industry chain from silicon materials to solar power station operations, reflecting the core competitiveness of China's photovoltaic industry [1] - The top ten constituent stocks of the ETF include industry leaders such as Longi Green Energy, Tongwei Co., and Sungrow Power Supply, indicating a reasonable concentration with both growth and stability [1]

此外，航空航天ETF天弘(159241)昨日成交额近1.6亿元，Wind数据显示，该ETF当日获净申购达500万 份，换手率近19%。 航空航天ETF天弘（159241）紧密跟踪国证航天航空行业指数，该指数覆盖航空装备、航天装备、军工 电子等细分领域，涉及卫星互联网、大飞机、低空经济等前沿科技方向。跟踪指数行业布局在申万一级 行业分类中，国防军工权重占比高达98.7%。 1月22日，市场午后震荡回升，三大指数集体翻红，中证光伏产业指数(931151.CSI)上涨1.33%。 相关 ETF中，光伏ETF（159857）昨日成交额近1.5亿元，居深市同标的首位。成分股中，固德威、钧 达股份涨停。 光伏ETF（159857）是深市中跟踪中证光伏产业指数规模最大的ETF。截至1月21日，该ETF最新流通份 额为22.67亿份，最新流通规模为20.12亿元。该ETF还配备了场外联接基金（C类：011103）。 消息面来看，据中证报，我国商业航天产业近年来在可回收火箭技术突破、大型星座组网加速推进等关 键领域接连取得里程碑式成就，产业蓬勃发展所释放的红利，正在驱动太空光伏这一新兴赛道快速发 展。分析人士认为，作为商业航天 ...

Group 1 - The three major indices experienced fluctuations, with the CSI Photovoltaic Industry Index rising by 1.38%. Notable stocks included Junda Co., which hit the daily limit, and GCL-Poly Energy, which rose nearly 17% [1] - The photovoltaic ETF (159857), which tracks the CSI Photovoltaic Industry Index, saw an increase and a trading volume of 132 million yuan. The net inflow for this ETF on the previous trading day was 61.44 million yuan [1] - Mingyang Smart Energy announced plans to acquire control of Zhongshan Dehua Chip Technology Co., Ltd. through a combination of share issuance and cash payment, indicating a focus on the space solar cell industry [1] Group 2 - Guojin Securities highlighted that space photovoltaics, as a core segment of the commercial aerospace sector, is gaining market recognition due to its significant value, inflation trends, and high barriers to entry. The market is expected to continue expanding, with recommendations for active participation [2] - The cancellation of export tax rebates for photovoltaics is set to take effect on April 1, providing a "window" for companies to adjust before the Q1 domestic demand slowdown, while also facilitating the exit of less competitive capacities and firms [2]

Group 1 - The photovoltaic sector is experiencing significant activity, with the photovoltaic ETF (159857) achieving a trading volume exceeding 170 million yuan, making it the top product in the Shenzhen market for similar assets [1] - As of January 16, the ETF has a circulating share of 2.234 billion shares and a market size of 2.004 billion yuan, with a net subscription of 64 million shares reported [1] - The National Bureau of Statistics reported that the industrial power generation volume in December 2025 reached 858.6 billion kilowatt-hours, showing a year-on-year growth of 0.1% [1] Group 2 - By category, coal power generation in December 2025 decreased by 3.2% year-on-year, while hydropower, nuclear power, wind power, and solar power generation increased by 4.1%, 3.1%, 8.9%, and 18.2% respectively [1] - Zheshang Securities believes that technological breakthroughs are addressing the core contradiction of "efficiency-stability" in flexible tandem solar cells, achieving an efficiency of 33.6% along with excellent bending and light stability [1] - Dongxing Securities suggests that space photovoltaics may become the second growth curve for the photovoltaic industry, driven by the demand explosion from low-orbit satellite networks [1]

②天合光能分布式光伏组件最新报价上调3分/瓦； ③太空光伏作为商业航天板块中的核心分支，其"价值量大、通胀趋势、高壁垒"的逻辑优势正逐步 获得市场认可。 今日光伏板块延续近期涨势，TCL科技、太阳能分别涨7.98%、4.13%，带动光伏ETF（159857）标 的指数上涨3.54%，自去年12月17日以来累计上涨15%。 消息面上： ①今年4月1日起，取消光伏等产品增值税出口退税，预计将引发2026年Q1的抢出口潮。 开源证券指出，取消光伏产品出口退税，倒逼行业摒弃低价竞争策略，加速缺乏竞争力的产能、企 业出清，"反内卷"措施将利好头部企业。东兴证券认为太空光伏或成行业第二成长曲线，利好HJT、钙 钛矿新技术。 （责任编辑：刘静 HZ010） 【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 深市规模最大的光伏ETF（159857）跟踪的是光伏产业指数，该指数从市场中选取涉及硅料、硅 片、电池片、组件等制造 ...

Group 1 - The core viewpoint of the news highlights the strong performance and growth potential of the photovoltaic (PV) and energy storage industry, particularly in light of recent events and market trends [1][2] - The PV ETF (159857) experienced significant trading activity with a turnover exceeding 100 million yuan and a net inflow of over 21 million yuan, indicating robust investor interest [1] - The 2025 China International Photovoltaic and Energy Storage Industry Conference announced the "Chengdu Declaration" and the "2025 China and Global New Energy Development White Paper," aimed at promoting healthy industry development [1] Group 2 - Dongguan Securities emphasizes that the "PV + Energy Storage" integration is a necessary direction for technological innovation and product iteration, with the global market showing strong growth momentum [2] - The conference gathered 5,000 industry chain enterprises and numerous overseas buyers, promoting the collaborative development of "source-network-load-storage" and aiding domestic companies in expanding into international markets [2] - The report from CITIC Securities indicates an increase in the proportion of high-efficiency products like heterojunction and BC components in overseas orders, reflecting a scaling demand for efficient PV products globally [1][2]

Group 1 - The A-share market indices continued to decline, with the photovoltaic sector showing weakness, as evidenced by the China Securities Photovoltaic Industry Index dropping by 2.62% and retreating over 7% from its recent high on November 11 [1] - Key stocks in the photovoltaic sector experienced mixed performance, with companies like Micro导纳米 rising over 5%, while major stocks such as Sunshine Power, Longi Green Energy, and TBEA saw declines [1] - The photovoltaic ETF (159857) recorded a trading volume exceeding 180 million yuan, with a turnover rate of over 7% and a premium/discount rate of 0.02%. It also saw a net inflow of 109 million yuan over the past five trading days [1] Group 2 - The 8th China International Photovoltaic and Energy Storage Industry Conference is being held in Chengdu, focusing on enhancing the international competitiveness of China's photovoltaic and energy storage industry through five key areas [2] - According to Guangfa Securities, for medium to long-term institutional investors, it is advisable to focus on core sectors like computing power and electric new energy, as these sectors are expected to maintain momentum and lead to potential rebounds [2] - Zhongyou Securities anticipates that improvements in industry demand may arrive sooner than expected due to ongoing supply-side adjustments and the upcoming release of supportive measures related to China's energy transition goals [2]

Group 1 - A-shares experienced a decline with the CSI Photovoltaic Industry Index dropping by 2.01%, while stocks like Lianhong New Energy, Weidao Nano, and Deye Co. showed gains [1] - The Photovoltaic ETF (159857) had a turnover rate exceeding 9% and a transaction volume over 250 million yuan, ranking first among similar products in the Shenzhen market [1] - The Photovoltaic ETF (159857) is the largest and most liquid ETF tracking the CSI Photovoltaic Industry Index in the Shenzhen market, with a latest scale of 2.766 billion yuan and 3.096 billion shares outstanding [1] Group 2 - The 8th China International Photovoltaic and Energy Storage Industry Conference will be held from November 17 to 20, 2025, in Chengdu, focusing on themes like "integrating energy storage and photovoltaic technology" [1] - The conference aims to attract around 5,000 enterprises from various segments of the industry, including major players like Sungrow Power Supply, Meike Co., and Jingyuntong [1] - Over 100 overseas buyers have confirmed attendance at the conference to procure high-quality renewable energy products [1] Group 3 - Guojin Securities indicates that the global demand for clean energy and carbon reduction will drive significant investment opportunities in clean power and new grid construction over the next 3-5 years [2] - Key growth areas identified include energy storage, green hydrogen, and ammonia, alongside continued high investment in wind, solar, and grid infrastructure [2]

Group 1 - A-shares opened lower but rebounded strongly in the morning session, with significant gains in the new energy sector, including a 20% increase in Shangneng Electric and over 17% in Xinzoubang and Tianhua New Energy [1] - The National Energy Administration recently issued guidelines promoting the integrated development of new energy, aiming for enhanced reliability and competitiveness in the sector by 2030 [1] - The guidelines emphasize the importance of reducing reliance on the power system through comprehensive integration and expanding non-electric utilization of new energy [1] Group 2 - The photovoltaic ETF (159857) tracks the CSI Photovoltaic Industry Index, which selects up to 50 representative listed companies involved in the photovoltaic industry chain [2] - The new materials ETF (159703) follows the CSI New Materials Theme Index, selecting 50 companies in advanced steel, non-ferrous metals, chemicals, and other key strategic materials [2]

Group 1 - The three major indices collectively declined, with the photovoltaic equipment sector leading the market downturn, as the CSI Photovoltaic Industry Index fell by 4.95% [1] - Among the index constituents, GCL-Poly Energy rose over 5%, JinkoSolar increased by over 4%, and Jilin Electric Power gained over 2% [1] - The photovoltaic ETF (159857) dropped by 5.03%, with a trading volume of 284 million yuan and a real-time premium rate of 0.17% [1] Group 2 - The ETF saw a net inflow of 54.487 million yuan on the previous trading day (November 11), marking three consecutive days of net inflows, totaling 228 million yuan [1] - The latest circulating share of the ETF is 3.02 billion shares, with a total market size of 2.754 billion yuan [1] - A research team led by researcher You Jingbi from the Chinese Academy of Sciences has developed a perovskite solar cell prototype with a photoelectric conversion efficiency of 27.2% [1] Group 3 - Zhongyou Securities believes there is a discrepancy in supply and demand expectations in the photovoltaic industry, with ongoing "anti-involution" actions in supply [2] - The demand improvement is expected to arrive earlier, as China officially submitted its 2035 national contributions on November 3, 2025, positioning itself as an active participant in energy transition [2]