End of "Tax Rebate Benefit" to Accelerate Outdated Capacity Elimination,Huatai-PB CSI Photovoltaic Industry ETF(515790) Surges Over 3% in Morning Trading

NewTimeSpace News – As of 10:37 on January 14, 2026, Photovoltaic ETF (515790) rose 3.29%, with the latest price at RMB 1.07. Looking at a longer timeframe, as of January 13, 2026, Photovoltaic ETF has accumulated a 2.79% gain over the past week. (The stocks listed above are index constituents only and do not constitute specific investment recommendations.)

In terms of liquidity, Photovoltaic ETF recorded an intraday turnover ratio of 5.28% with trading volume of RMB 587 million. Looking at the broader period, as of January 13, the ETF's average daily trading volume over the past week reached RMB 759 million, ranking 1st among comparable funds.

Regarding scale, Photovoltaic ETF's assets under management increased by RMB 2.396 billion over the past year, achieving significant growth and ranking 1st among 12 comparable funds. (Data source: Wind)

Data shows leveraged funds continue to build positions. Photovoltaic ETF's latest margin purchase reached RMB 64.038 million, with the latest financing balance at RMB 394 million. (Data source: Wind)

As of January 13, Photovoltaic ETF's NAV has increased 16.96% over the past two years. In terms of return capability, as of January 13, 2026, since its inception, Photovoltaic ETF's highest monthly return reached 24.61%, the longest consecutive gain period lasted 5 months with a total gain of 79.02%, and the average return during positive months was 9.52%. As of January 13, 2026, Photovoltaic ETF's 2-year annualized excess return over benchmark stood at 1.07%.

As of January 9, 2026, Photovoltaic ETF's Sharpe ratio over the past year stands at 1.41.

Regarding drawdown, as of January 13, 2026, Photovoltaic ETF's maximum year-to-date drawdown was 0.54%, with a relative benchmark drawdown of 0.05%.

In terms of fees, Photovoltaic ETF's management fee rate is 0.50% and custody fee rate is 0.10%, placing it at a relatively low level among comparable funds.

In tracking accuracy, as of January 13, 2026, Photovoltaic ETF's half-year tracking error was 0.022%, representing the highest tracking precision among comparable funds.

Photovoltaic ETF closely tracks the CSI Photovoltaic Industry Index, which selects up to 50 most representative listed company securities from those whose main business involves the upstream, midstream, and downstream of the photovoltaic industry chain as index constituents to reflect the overall performance of photovoltaic industry listed companies.

HuaFu Securities stated that the end of the "tax rebate benefit" era for the photovoltaic industry, while causing direct impact on export costs in the short term, is expected to bring a rush installation boom and order surge during the "window period" before the policy takes effect. In the long term, this move will effectively curb low-price internal competition, accelerate the elimination of outdated capacity, force enterprises to transform toward technological innovation and brand building, and push Chinese photovoltaic companies to accelerate their global production capacity layout.

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