The photovoltaic industry is expected to accelerate its development. In the context of "carbon neutralization", countries have launched renewable energy alternatives accordingly. Geopolitics and rising traditional energy prices have accelerated the energy transformation plan, and global demand is expected to grow faster than expected. At the same time, after years of technical iteration and cost reduction and efficiency improvement in the domestic market, the kilowatt-hour cost of photovoltaic power generation has dropped significantly, and the industry has officially ushered in the era of parity.
As the world's largest supplier of photovoltaic products, China has a supply chain leading advantage and competitive advantage. Since the development of photovoltaic industry in 2005, China has basically realized the localization of the whole photovoltaic industry chain, and has the core technology of the whole industry chain. At the same time, China's shipments of silicon materials, wafers, battery wafers and components on the main industrial chain are the largest in the world, and occupy the vast majority of market share. In 2021, the output of polysilicon, silicon wafers, battery wafers and components in China was 50.5,226.6, 197.9 and 182.0GW respectively, accounting for 78.80,97.30,88.40 and 82.30 per cent of the total global output, respectively.
The permeability of new energy vehicles continues to increase, and the shipments of power batteries are growing rapidly. Electric vehicles have always been regarded as the key to overtaking in the corner of the automobile industry in China. with the reduction of cost, efficiency and speed of the industrial chain and the strengthening of supply-side products, the development of new energy vehicles in China has realized kinetic energy conversion, from the original policy-driven to market-driven. In 2021, the output of new energy vehicles in China increased by 169.7% over the same period last year, and sales increased by 165.1% over the same period last year. With the rapid growth of production and sales of new energy vehicles and the gradual increase in the proportion of power lithium battery shipments, the power battery market has become the largest engine for the rapid growth of the global lithium battery market.
The power battery link will usher in profit repair. As the market demand of downstream new energy vehicles continues to be strong, the competition among power battery manufacturers is becoming more and more fierce, and the international market share of Chinese power battery manufacturers is increasing. From 2017 to 2020, thanks to technological progress and economies of scale, the cost of power batteries dropped sharply, and the shortage of supply and demand in the past 21 years led to a rise in the price of raw materials to compress the profit space of power batteries. With the relaxation of the relationship between supply and demand of raw materials in the future, the price increases of current battery manufacturers, the battery link ushered in profit repair.
The CSI mainland New Energy theme Index (000941.CSI) selects 50 samples of large-scale and profitable new energy business as index samples from the securities of listed companies involved in new energy production, new energy storage and new energy vehicles in the Shanghai and Shenzhen stock markets to provide diversified investment targets for the market. The index is based on December 31, 2008, based on 1000 points, and released on October 28, 2009.
The index income is better than the similar index and the CSI 300 index: the index has performed well since the base date, with an annualized return of 11.57% and a cumulative return of 320.48%. The overall performance is better than that of the CSI 300 index and the CSI 500 index. Over the past five years, the index has not only outperformed the market's main wide-base index, but also achieved relatively better performance in similar indices, with an annualized income of 22.88%, better than the annualized return of 14.68% of the new energy index.
Index trading activity: index Q2 trading activity is higher than Q1 this year.
Focus on photovoltaic, lithium industry chain quality leader: according to CITIC III industry classification, solar energy industry weight and quantity accounted for the largest, weight and quantity accounted for 29.87%, 16% respectively, followed by lithium battery, lithium electrochemicals industry, weight accounted for 22.79%, 11.68%.
Shen Wanling letter Securities Investment Fund (trading code: 159752.SZ, hereinafter referred to as "new energy leader ETF") was listed on July 28, 2021. New energy leader ETF adopts passive investment strategy, closely tracks the target index, and pursues the minimization of tracking deviation and tracking error. This fund is a stock fund, and its expected return and expected risk level are higher than those of mixed funds, bond funds and money market funds. The fund management fee is 0.50% and the escrow rate is 0.10%.
Fund Manager: Mr. Wang Xiejie has been engaged in financial related work since 2011. he has worked in Haifu Fund, CSC FINANCIAL CO.,LTD and other institutions. He joined Shenwan Lingxin Fund Management Co., Ltd. in March 2020 and is now working in the Index Investment Department. Since February 2022, Shen Wanling has been appointed as the manager of the mainland new energy-themed open-index securities investment fund. There are 10 funds under management. As of July 1, 2022, the total size of the fund under management has exceeded 3.6 billion yuan.
Risk factors: macroeconomic decline; COVID-19 epidemic intensified; stock market volatility increased; financial supervision rose more than expected. The fund is a stock fund with a high level of expected risk and return; historical performance does not represent the future.
