On Friday (November 7), the power equipment sector saw a net inflow of 16.776 billion yuan in main capital, ranking second among the 31 Shenwan primary industries. The Green Energy ETF (562010), the only ETF tracking the green energy index, surged 2.22% intraday and closed 1.64% higher, breaking through all moving averages to secure a three-day winning streak.
Among constituent stocks, battery chemical leaders led the gains: Tianhua New Energy soared over 15%, Hunan Yuneng and Guangzhou Tinci Materials Technology Co.,Ltd. (Tinci Materials) rose more than 9%, while Shenzhen Capchem Technology and Yunnan Energy New Material followed with strong gains. Polysilicon and wafer leaders Daqo New Energy and Tongwei Co. climbed over 6%, with lithium industry leaders Yongxing Materials and Tianqi Lithium also posting notable performances.
Key catalysts behind the electrolyte sector's strength include: 1. **Tinci Materials secures 1.595 million-ton order**: On November 6, the electrolyte leader announced long-term supply agreements with CALB and Guoxuan High-Tech, with total contracted volume reaching 1.595 million tons. 2. **Electrolyte prices jump nearly 20%**: Since August, electrolyte and lithium hexafluorophosphate (LiPF6) prices have rebounded from lows, signaling improved industry sentiment. As a key electrolyte raw material, LiPF6's price surge has directly driven electrolyte cost increases.
Zhongyuan Securities attributes the price hikes to: (1) shutdowns of high-cost LiPF6 capacity after prolonged low prices reducing supply, and (2) stronger-than-expected year-end demand from energy storage and commercial vehicles creating temporary supply-demand mismatches. The firm expects further near-term price increases for both LiPF6 and electrolytes.
The sector's "anti-involution" trend also warrants attention. In solar, a much-anticipated polysilicon consortium platform is being planned, with a proposed 70 billion yuan fund under discussion.
Looking ahead, the 8th China International Photovoltaic and Energy Storage Summit (November 17-20, Chengdu) may provide catalysts. Zheshang Securities highlights three drivers for green energy valuation recovery: (1) booming domestic/global energy storage demand, (2) photovoltaic efficiency gains and cost reductions through tech innovation, and (3) expanding overseas market opportunities.
**Green Energy ETF (562010) Spotlight**: The ETF tracks an index with >75% combined weighting in batteries, PV equipment, and power generation (per Shenwan classifications). Top holdings include CATL, Sungrow Power, China Yangtze Power, BYD, LONGi Green Energy, Eve Energy, Huayou Cobalt, Ganfeng Lithium, Tongwei, and Lead Intelligent.
**Risk Disclosure**: The Green Energy ETF passively tracks its underlying index (base date: December 31, 2013; launch date: August 19, 2021). Index composition may change per rules, and past performance doesn't guarantee future results. Constituent stock mentions aren't investment advice nor reflect fund holdings. The fund carries R3 (moderate risk) rating, suitable for balanced (C3) or higher risk-profile investors. Investment decisions require independent judgment.
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