Market Overview - The A-share market saw a collective rise, with the Shanghai Composite Index increasing by 1.24%, the Shenzhen Component Index by 3.89%, the ChiNext Index by 6.55%, and the North Star 50 Index by 5.15%. The total market turnover reached 2.35 trillion yuan [1]. New Energy Sector Performance - The new energy sector is experiencing significant growth, with notable increases in various ETFs: the ChiNext New Energy ETF (159387) rose by 10.98%, the New Energy Vehicle ETF (159806) by 8.64%, the Photovoltaic 50 ETF (159864) by 7.86%, and the Carbon Neutrality 50 ETF (159861) by 7.54% [1][2]. Driving Factors for Growth - **Capital Shift**: The new energy sector had previously limited gains, with the current position still about 15% below the 2015 peak and approximately 40% below the 2021 peak. This has led to a significant capital shift from artificial intelligence to the new energy sector [3]. - **Lithium Battery Demand**: The lithium battery sector is entering a peak season, with strong production in September. The demand for energy storage remains robust, and the upcoming reduction in domestic purchase tax is expected to further stimulate demand [4]. - **Energy Storage Market**: In the domestic market, energy storage tenders are increasing, with supportive policies emerging. Internationally, the U.S. market is seeing a favorable environment due to delayed tariffs and subsidies, while Europe and emerging markets are also experiencing growth in energy storage demand [5]. - **Photovoltaic Sector**: Policies are being implemented to eliminate "involution" in the photovoltaic industry, with expectations for a clearer capacity reduction plan. Prices for key materials in the photovoltaic supply chain are rising, although transaction volumes remain low [6]. - **Wind Power Performance**: The wind power sector has seen a significant increase in installed capacity, with a 99% year-on-year growth in new grid-connected capacity in the first half of 2025. The sector is benefiting from improved pricing and robust demand [7]. Future Outlook - In the short term, lithium batteries and energy storage are expected to be the preferred sectors due to the upcoming peak season and favorable demand dynamics. Wind power is also worth monitoring for continued performance, while the photovoltaic sector's price stabilization and policy developments should be tracked [9].

Core Viewpoint - The New Materials 50 ETF has shown strong performance, with significant increases in both its index and constituent stocks, indicating a positive trend in the new materials sector [3][4]. Performance Summary - As of August 22, 2025, the CSI New Materials Theme Index (H30597) rose by 2.41%, with key stocks such as China National Materials Technology up by 10.01% and Huayou Cobalt up by 6.63% [3]. - The New Materials 50 ETF (516710) increased by 2.36%, with a latest price of 0.56 yuan, and has accumulated a 3.77% increase over the past week [3]. - The ETF's trading volume showed a turnover rate of 5.84%, with a total transaction value of 2.23 million yuan [3]. - Over the past year, the New Materials 50 ETF has achieved a net value increase of 40.51%, ranking in the top two among comparable funds [3]. - The ETF's highest monthly return since inception was 25.40%, with an average monthly return of 7.07% during rising months [3]. Risk and Recovery Metrics - The New Materials 50 ETF has a relative drawdown of 0.19% year-to-date, the lowest among comparable funds, with a recovery period of 106 days [4]. - The ETF's management fee is 0.50% and the custody fee is 0.10%, both of which are the lowest in its category [4]. - The tracking error for the ETF over the past year is 0.025%, indicating high tracking precision compared to its benchmark [4]. Top Holdings Performance - The top ten holdings of the New Materials 50 ETF include: - North Huachuang: up 5.19%, weight 9.89% - CATL: up 2.06%, weight 9.86% - Wanhua Chemical: up 2.21%, weight 7.17% - Jiangxi Green Energy: up 1.73%, weight 6.38% - Huayou Cobalt: up 6.63%, weight 3.54% [6].

中邮证券指出，基础化工行业盈利持续处于底部区间，主要受成本端供需偏紧与商品端供需宽松的双重 影响。近期草酸、甲酸等产品因出口需求增加及供应收缩价格显著上涨。行业整体估值处于历史低位 （PB为1.94倍），叠加美国制造业库存回升及国内房地产政策刺激预期，内外需有望改善。新材料领域 关注国产替代主线，包括特种气体、电子化学品等方向。 新材料50ETF（159761）跟踪的是新材料指数（H30597），该指数从市场中选取涉及先进基础材料、关 键战略材料以及前沿新材料等领域的上市公司证券作为指数样本，以反映新材料产业相关上市公司证券 的整体表现。成分股通常具备较高的科技含量和成长性，代表了中国新材料产业的发展水平与未来方 向。 没有股票账户的投资者可关注国泰中证新材料主题ETF发起联接A（014908），国泰中证新材料主题 ETF发起联接C（014909）。 8月11日午后，新材料50ETF（159761）涨超2.2%。 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 ...

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。 新材料50ETF（159761）跟踪的是新材料指数（H30597），该指数聚焦于新材料产业，从市场中选 取涉及先进基础材料、关键战略材料及前沿新材料等领域的上市公司证券作为指数样本，涵盖金属、化 工、建材等行业中具有技术创新和高成长性的企业，以反映新材料相关上市公司证券的整体表现和市场 趋势。 没有股票账户的投资者可关注国泰中证新材料主题ETF发起联接A（014908），国泰中证新材料主 题ETF发起联接C（014909）。 天风证券指出，新材料行业面临下游需求高景气和国产替代机遇，龙头公司凭借高技术壁垒有望迎 来快速成长期。当前光伏玻璃市场成交良好，库存持续下降，组件企业备货积极，8月订单价格预计小 幅上调；电子纱市场刚需支撑稳定，高端产品货源趋紧，需求表现相对良好。玻纤价格处于相对低位， 后续风电 ...

Group 1 - The core viewpoint highlights significant breakthroughs in the field of thermal radiation metamaterials, aided by AI technology for mass production of material design, providing new solutions for efficient thermal management applications [1] - The global nylon 66 industry is accelerating its expansion, with BASF announcing expansion plans and Pingmei Shenma Group achieving domestic breakthroughs in key raw material adiponitrile technology [1] - The lightweight material PEEK (polyether ether ketone) for humanoid robots continues to attract market attention, driving technological upgrades in the industry chain [1] Group 2 - Guohai Securities emphasizes that new materials are a crucial direction for the future development of the chemical industry, currently experiencing rapid growth in downstream demand, with domestic new materials expected to enter a phase of accelerated growth due to policy support and technological breakthroughs [1] - The new materials industry is considered a foundational industry that supports the development of important fields such as electronic information, new energy, biotechnology, and energy conservation and environmental protection [1] - Analysts are focusing on new material companies with strong core supply chains, robust R&D capabilities, and excellent management, as the new materials industry is catalyzed by downstream application sectors, gradually entering a prosperous cycle [1] Group 3 - The New Materials 50 ETF tracks the new materials index, which is compiled by China Securities Index Co., Ltd., selecting listed companies from the Shanghai and Shenzhen markets involved in advanced structural materials and functional materials [1] - The index covers multiple sub-industries, including chemicals and non-metallic metals, reflecting the overall performance of listed companies in the new materials industry [1] - Component stocks within the index exhibit high growth potential and innovation capabilities [1]

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