（责任编辑：董萍萍 ） 1月16日，创业板新能源ETF国泰（159387）涨1.7%，机构关注锂电与设备出海机遇。 东吴证券指出，海外锂电需求高速增长，中国电池厂加速全球建厂带动整线设备出口进入兑现期。 设备厂商凭借"客户绑定+整线复制"模式，技术+成本+交付一体化优势显著，锂电设备迎来持续性出海 良机。储能电池已成为锂电池行业增长最快的细分领域，全球出货量快速增长。欧美市场动力电池出货 量进入高增长通道，远高于中国本土。中国设备厂商技术成熟、交付能力强，已形成全球竞争优势，相 比海外同行具备成本与效率优势，可一体化输出"设备+工艺+工程"，快速适配客户海外新建产线。 每日经济新闻 创业板新能源ETF国泰（159387）跟踪的是创新能源指数（399266），单日涨跌幅限制达20%，该 指数从市场中选取涉及清洁能源生产、存储及应用等业务的上市公司证券作为指数样本，以反映新能源 行业相关上市公司证券的整体表现。创新能源指数聚焦于新能源及相关产业链，成分股具备高成长性和 创新能力，行业配置上侧重于太阳能、风能、电动汽车及相关配套服务等领域，能够较好地体现新能源 行业的技术进步和市场发展趋势。 风险提示：提及个股仅用 ...

（文章来源：每日经济新闻） 国信证券指出，我国动力和储能电池产业在全球范围内取得阶段性竞争优势，但行业内存在盲目建设情 况，出现低价竞争等非理性竞争行为，需加强价格执法检查和生产一致性监管，防范风险。中长期看， 中国锂电池与材料企业具备全球议价能力，出口退税政策调整（2026年退税率降至6%，2027年取消） 的影响可通过涨价传导，并加速行业整合。固态电池产业化加速推进，首个车用固态电池国家标准征求 意见，欣界能源2GWh项目投产，红旗全固态电池包实现试制下线。 创业板新能源ETF国泰（159387）跟踪的是创新能源指数（399266），单日涨跌幅限制达20%，该指数 从市场中选取涉及清洁能源生产、存储及应用等业务的上市公司证券作为指数样本，以反映新能源行业 相关上市公司证券的整体表现。创新能源指数聚焦于新能源及相关产业链，成分股具备高成长性和创新 能力，行业配置上侧重于太阳能、风能、电动汽车及相关配套服务等领域，能够较好地体现新能源行业 的技术进步和市场发展趋势。 ...

国信证券指出，多家磷酸铁锂企业近期公告进行产线检修，包括湖南裕能、万润新能、德方纳米、 安达科技等，预计减产规模在0.3-3.5万吨，检修时间约一个月。碳酸锂价格持续走高，本周末价格为 11.19万元/吨，较两周前上涨1.74万元/吨。同时，三元正极、磷酸铁锂正极、湿法隔膜报价均上涨，电 芯价格也有所上行。固态电池产业化加速推进，欣旺达动力与中伟股份签署固态电池战略合作框架协 议，美国Quantum Scape与全球前十汽车制造商签署联合开发协议。锂电产业链大单不断，宁德时代与 岚图签署十年深化合作协议，并与思源电气签署3年50GWh储能合作备忘录。欧洲新能源车销量保持较 好增长，11月欧洲九国新能源车销量同比+41%，渗透率达34.6%。国内新能源车销量同比+21%，渗透 率53.2%。 创业板新能源ETF国泰（159387）跟踪的是创新能源指数（399266），日涨跌幅限制达20%，该指 数从市场中选取涉及可再生能源、清洁能源技术及设备制造等领域的创新企业证券作为指数样本，以反 映新能源领域内具有技术优势和可持续发展潜力企业的整体表现。 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 ...

Group 1 - The core viewpoint of the article highlights the strong demand for lithium battery downstream energy storage since 2025, leading to a mismatch in supply and demand, which is expected to drive price increases in the industry [1] - Lithium battery materials have been at low prices for an extended period, resulting in the clearance of substantial production capacity, and the current industry concentration is high, making effective capacity insufficient to meet explosive demand growth [1] - The price of lithium iron phosphate has increased by over 30% this year, with strong demand for high-end products; negative electrode materials are operating at full capacity, and the diaphragm industry is entering a second round of price increases [1] Group 2 - In terms of energy storage, domestic policy changes (Document 136) and capacity electricity pricing have altered revenue models, increasing project IRR to between 6% and 12%, significantly enhancing installation willingness [1] - In the overseas market, the U.S. is driven by IRA policy incentives and AIDC storage, while Europe is shifting from household storage to large-scale storage dominance, and emerging markets are propelled by energy transition goals [1] - The ChiNext New Energy ETF (159387) tracks the Innovation Energy Index (399266), which has a daily fluctuation of 20%, selecting technology innovation companies in clean energy, new energy vehicles, and energy storage sectors to reflect the overall performance of cutting-edge technology enterprises in the new energy field [1]

Core Viewpoint - Hubei Province is focusing on building a "51020" modern industrial system, with key development directions including the new energy and intelligent connected vehicles, as well as other trillion-level characteristic industrial clusters [1] Group 1: Automotive Industry - Hubei Province's automotive manufacturing and service industry is expected to exceed 1 trillion yuan by 2024, supported by the "Implementation Plan for the Transformation and Development of the Automotive Industry in Hubei Province (2023-2025)" [1] - The plan emphasizes the development of the entire value chain of power batteries and supports companies like Zhongxin Innovation and Yiwei Lithium Energy to enhance their technological capabilities and strengthen the power battery industry [1] Group 2: New Energy Infrastructure - Hubei Province is actively developing new energy charging and swapping facilities, ensuring that 100% of fixed parking spaces in new residential areas are equipped with charging piles or reserved for installation conditions [1] - The province is also advancing the construction of a hydrogen supply network and is researching the establishment of management measures for hydrogen refueling stations [1] Group 3: Investment Opportunities - The Guotai New Energy ETF (159387) tracks the Innovation Energy Index (399266), which has a daily fluctuation of 20%, focusing on the new energy sector and selecting listed companies involved in clean energy, energy-saving technologies, and related industrial chains [1] - The index aims to reflect the overall performance of high-growth and innovative enterprises in the new energy industry, covering areas such as renewable energy development, energy storage technology, and smart grids [1]

华金证券指出，电力设备及新能源行业在经历产能扩张、供需失衡后已逐步走出困境，实现供需再平 衡。电池行业呈现利润触底反弹，库存显著回升，资本开支触底反弹且固态电池等新投资方向支撑融资 意愿回升。锂电材料价格企稳回升，动力与储能市场需求旺盛，预计2025-2035年中游材料出货量仍有3 倍以上增长空间；固态电池技术迭代加速，政策推动下有望2027年量产，人形机器人等新兴场景将带动 需求。储能领域市场化交易推进，新型储能装机规模突破100GW，海外AI用电高增进一步刺激需求。 风电行业招标规模景气，风机价格企稳回升，海上风电向深远海发展，漂浮式技术加速落地，预计"十 五五"年均装机增长超80%。行业整体处于盈利修复阶段，细分领域复苏与科技突破（核聚变、固态电 池、AIDC）形成投资主线。 创业板新能源ETF国泰（159387）跟踪的是创新能源指数（399266），单日涨跌幅达20%，该指数从市 场中选取涉及清洁能源生产、储存及应用等业务的上市公司证券作为指数样本，聚焦可再生能源、电动 汽车、储能技术等前沿领域，以反映具备高成长性和技术创新能力的新能源相关上市公司证券的整体表 现。 （文章来源：每日经济新闻） ...

Group 1 - The current competition in the power and energy storage battery industry is leading to widespread pressure on profit margins due to excessive competition. However, through governance of irrational competition and strengthening of intellectual property protection, the competitive environment is expected to become fairer and more orderly, shifting the focus from price wars to technology and quality wars, which may gradually improve profit margins [1] - Under policy guidance, leading companies with technological advantages, scale effects, and brand influence are expected to gain more resources, leading to an increase in industry concentration and an improvement in supply-demand dynamics. The overseas market is anticipated to become an important growth driver, with domestic companies focusing on the quality and sustainability of international development under the "reasonable and orderly going abroad" policy [1] - The Ministry of Industry and Information Technology will scientifically formulate the "14th Five-Year" industrial development plan, strengthening standard support and technological innovation to promote high-quality industrial development. Overall, the synergy of policies and markets is expected to help the industry break through development bottlenecks and cultivate global competitiveness [1] Group 2 - The Guotai Innovation Energy ETF (159387) tracks the Innovation Energy Index (399266), which experienced a daily fluctuation of 20%. This index selects listed company securities involved in clean energy and environmental protection, focusing on companies with technological innovation capabilities and growth potential. The industry allocation covers emerging fields such as solar energy, wind energy, electric vehicles, and energy storage technologies, reflecting the overall performance of listed companies in the new energy and related industrial chains [1]

中原证券指出，2025年锂电池行业迎来需求反转，带动锂电设备需求回暖，行业有望迎来明显业绩反 转。2025年前三季度我国储能锂电池出货430GWh，同比增长99.07%，预计全年增速超75%。固态电池 商业化落地关键节点逐步清晰，2027年将成为小规模装车启动年，2030年被视为规模化量产分水岭。固 态电池设备正加速向整线集成化、高压化与无尘化方向演进，干法辊压、等静压设备、高压化成三类设 备成为最具确定性的增量环节。2025年以来，主要锂电设备企业陆续收获批量固态电池设备订单。 （文章来源：每日经济新闻） 创业板新能源ETF国泰（159387）跟踪的是创新能源指数（399266），单日涨跌幅达20%，该指数从市 场中选取涉及可再生能源、新能源汽车、储能技术等领域的上市公司证券作为指数样本，以反映新能源 产业链相关上市公司证券的整体表现。成分股具有显著的高成长性和技术创新特征，能够有效体现行业 前沿发展趋势与市场动态。 ...

Group 1 - The core viewpoint is that the global demand for power batteries will remain high in 2024, primarily driven by electric vehicles, with continuous growth in demand from China and the United States, and an acceleration in structural differentiation [1] - China's power battery production capacity continues to expand, with an increase in concentration among leading enterprises, and both LFP and energy storage batteries are experiencing high growth, leading to further optimization of the industry structure [1] - In the context of stricter regulations and enhanced industry self-discipline, capacity expansion is becoming more rational, shifting the competitive logic from scale competition to quality improvement and technological upgrades [1] Group 2 - The Guotai New Energy ETF (159387) tracks the Innovation Energy Index (399266), which has a daily fluctuation of 20%, selecting listed companies in renewable energy, electric vehicles, and energy storage technologies to reflect the overall performance of the new energy industry chain [1] - The constituent stocks of the index exhibit significant high growth potential and technological innovation characteristics, effectively reflecting the cutting-edge development trends and market dynamics of the industry [1]

Core Insights - China's new energy sector plays a crucial role in the global energy transition, with leading technologies and significant production capacity in photovoltaic, wind power, and battery storage [1] - The surge in electricity demand driven by AI makes new energy the only option to fill the short-term "electricity gap," creating structural growth opportunities in the power equipment and storage industries [1] - A severe price war has emerged in certain segments of the new energy sector, prompting policies aimed at optimizing competition in photovoltaic, battery, and storage sectors to enhance China's bargaining power in the global supply chain [1] - The rapid deployment of AI data centers necessitates upgrades in the power grid and storage systems, particularly benefiting equipment manufacturers that provide integrated solutions for self-generation and storage [1] - The Guotai New Energy ETF (159387) tracks the Innovation Energy Index (399266), which saw a daily fluctuation of 20%, focusing on companies involved in clean energy production, storage technology, and smart grids [1] Industry Summary - The new energy sector is experiencing significant technological advancements and maintaining a leading position globally [1] - Structural growth opportunities are emerging in the power equipment and storage sectors due to increased electricity demand from AI [1] - Policies are being implemented to address competition issues and improve the market landscape for photovoltaic and storage technologies [1] - The integration of self-generation and storage solutions is becoming increasingly important for equipment manufacturers [1] - The performance of the Guotai New Energy ETF reflects the overall market dynamics and innovation within the new energy sector [1]