New Energy Vehicle ETF Leads in Annualized Returns, While Solar ETF Valuation Hits Historical Low Amid Growing Industry Optimism

As of April 18, 2025, the New Energy Vehicle ETF (515700) has outperformed its benchmark with the highest annualized return over the past year. Meanwhile, the Photovoltaic ETF Fund (516180) is currently valued at a historical low, indicating that the new energy vehicle sector is poised for sustained growth, according to institutional insights.

On April 18, 2025, at 11:21 AM, the China Securities New Energy Vehicle Industry Index (930997) experienced a slight decline of 0.16%. Among its component stocks, there were mixed results: Keda Li (002850) led with a rise of 6.97%, followed by Rongbai Technology (688005) at 2.58% and Tengyuan Cobalt (301219) at 2.52%. Conversely, Weimaisi (688612) dropped by 1.95%, GAC Group (601238) fell by 1.60%, and Yihua Tong (688339) decreased by 1.32%.

The New Energy Vehicle ETF (515700) saw a minor decrease of 0.13%, with a latest price of 1.52 yuan. Looking at a broader timeframe, as of April 17, 2025, the ETF has accumulated a weekly increase of 0.53%, ranking it in the upper half of comparable funds.

In terms of liquidity, the New Energy Vehicle ETF recorded a turnover of 0.49% during the session, with a trading volume of 10.42 million yuan. Over the past year, the average daily trading volume for this ETF reached 70.38 million yuan.

Currently, the New Energy Vehicle ETF has a total asset size of 2.129 billion yuan, placing it in the top half of similar funds. Data indicates that leveraged funds are continually investing, with the latest financing purchase amounting to 3.4151 million yuan and a financing balance of 56.8665 million yuan.

As of April 18, 2025, at 11:21 AM, the China Securities Photovoltaic Industry Index (931151) saw a decline of 0.71%. Component stocks exhibited varied performance: Robotech (300757) increased by 2.22%, Lin Yang Energy (601222) rose by 0.49%, and Xiexin Integration (002506) gained 0.46%. On the other hand, Quartz Co. (603688) led the decline at 5.34%, followed by Zhejiang New Energy (600032) at 2.64%, and Aiko Solar (600732) at 2.13%.

The Photovoltaic ETF Fund (516180) fell by 0.94%, with a latest price of 0.53 yuan. It recorded a turnover of 2.13% during the session, with a trading volume of 1.2266 million yuan. Over the past year, the average daily trading volume of the Photovoltaic ETF Fund was 4.6895 million yuan.

Regarding yield performance, as of April 17, 2025, the Photovoltaic ETF Fund achieved a maximum single-month return of 24.05% since its inception, with the longest period of consecutive monthly gains being 5 months, totaling an increase of 81.96%. The average return during gaining months was 10.62%. Furthermore, the fund surpassed its benchmark with an annualized return of 1.14% over the last two years.

On April 18, 2025, at 11:21 AM, the China Securities New Materials Theme Index (H30597) fell by 0.67%. Among the component stocks, Puxin Technology (603659) led with a rise of 2.30%, followed by Huayou Cobalt (603799) at 1.97%, and Jiuli Special Materials (002318) at 1.47%. However, Northern Huachuang (002371) experienced the largest decline at 2.90%, followed by Yake Technology (002409) at 2.79% and Sankeshu (603737) at 2.76%. The New Materials ETF Index Fund (516890) declined by 0.62%, with a latest price of 0.48 yuan.

The New Materials ETF Index Fund had a turnover of 0.51% during the session, with a trading volume of 118,200 yuan. Over the past week, the average daily trading volume was 1.0646 million yuan.

Recent developments indicate that Sichuan is experiencing a positive green transition, with steady growth in its green industries. The added value in the power battery, new energy vehicle, and vanadium-titanium industries increased by 45.7%, 11.5%, and 15.4%, respectively. Production in new energy vehicles, photovoltaic cells, and lithium-ion power batteries grew by 2.9 times, 2.3 times, and 19.6% respectively.

According to a report from Goldman Sachs on April 16, 2025, the penetration rate of new energy vehicles increased by 2.8 percentage points to 53% in the 15th week of 2025. The weekly insurance volume for passenger vehicles reached 351,000 units, reflecting a growth of 4.2% compared to the previous week.

Some brokerage firms suggest that given the current policy environment, fluctuations in raw material prices, performance metrics, market valuations, and industry growth expectations, investors should moderately explore investment opportunities in the electric vehicle battery sector in the short term. Looking at the medium to long term, there is an optimistic outlook for the new energy vehicle industry, indicating continued growth in both domestic and international markets.

Investors can consider the Photovoltaic ETF Fund (516180), the New Materials ETF Index Fund (516890), and the New Energy Vehicle ETF (515700) to seize investment opportunities in related sectors.

The New Energy Vehicle ETF closely tracks the China Securities New Energy Vehicle Industry Index, which selects 50 publicly listed companies involved in new energy vehicles, electric motors, lithium battery equipment, battery cells, and materials. This index reflects the overall performance of leading listed companies in the new energy vehicle sector.

As of March 31, 2025, the top ten weighted stocks in the China Securities New Energy Vehicle Industry Index (930997) are BYD (002594), Inovance Technology (300124), CATL (300750), Sanhua Intelligent Controls (002050), EVE Energy (300014), Huayou Cobalt (603799), Ganfeng Lithium (002460), GEM Co. (002340), Tianqi Lithium (002466), and Hongfa Technology (600885), collectively accounting for 57.98% of the index.

The Photovoltaic ETF Fund closely tracks the China Securities Photovoltaic Industry Index, which selects a maximum of 50 representative publicly listed companies involved in various stages of the photovoltaic industry. This index provides insights into the overall performance of companies within the photovoltaic sector.

As of March 31, 2025, the top ten weighted stocks in the China Securities Photovoltaic Industry Index (931151) include LONGi Green Energy (601012), Sungrow Power (300274), TCL Technology (000100), TBEA (600089), Tongwei Co. (600438), TCL Zhonghuan (002129), JinkoSolar (688223), Chint Electric (601877), DeYuan Co. (605117), and JA Solar (002459), with a total weight of 55.78%.

The New Materials ETF Index Fund closely tracks the China Securities New Materials Theme Index, which selects 50 publicly listed companies involved in advanced steel, nonferrous metals, chemicals, inorganic nonmetals, and other strategic materials. This index reflects the overall performance of companies in the new materials sector.

As of March 31, 2025, the top ten weighted stocks in the China Securities New Materials Theme Index (H30597) are CATL (300750), Northern Huachuang (002371), Wanhua Chemical (600309), LONGi Green Energy (601012), Sanhua Group (300408), Tongwei Co. (600438), Huayou Cobalt (603799), Sanan Optoelectronics (600703), GEM Co. (002340), and Baofeng Energy (600989), with a total weight of 52.75%.

Related products include:

• New Energy Vehicle ETF (515700), with off-market links: Ping An China Securities New Energy Vehicle ETF Link A: 012698; Ping An China Securities New Energy Vehicle ETF Link C: 012699.
• Photovoltaic ETF Fund (516180), with Ping An Photovoltaic Index Fund (Class A: 012722; Class C: 012723).
• New Materials ETF Index Fund (516890).