Computing Power Development Drives PV Demand Expansion, Tianhong CSI Photovoltaic Industry ETF(159857) Rises 2.94% Intraday

NewTimeSpace News:As of 13:54 on February 4, 2026, the CSI PV Industry Index (931151) surged 2.91%. Among its constituent stocks, JinkoSolar Holding Co., Ltd. rose 20.00%, Jingsheng Mechanical & Electrical Co., Ltd. climbed 19.18%, Risen Energy Co., Ltd. advanced 10.42%, while other stocks such as TCL Zhonghuan and GCL Integration followed suit. TheTianhong CSI Photovoltaic Industry ETF (159857) rose 2.94% to close at RMB 0.98. Over a longer time frame, as of February 3, 2026, the ETF had achieved a cumulative increase of 6.85% in the past two weeks. (The stocks listed above are merely constituent stocks of the index and do not constitute specific investment recommendations.)

In terms of liquidity, theTianhong CSI Photovoltaic Industry ETF recorded an intraday turnover rate of 17.22% and a trading volume of RMB 395 million, with active market transactions. Looking back, as of February 3, the ETF's average daily trading volume in the past week reached RMB 330 million, ranking among the top 2 of comparable funds.

Regarding scale, theTianhong CSI Photovoltaic Industry ETF's size increased by RMB 256 million in the past two weeks, achieving significant growth, with the new scale ranking 2nd out of 14 comparable funds. (Data source: Wind)

In terms of share count, the ETF's shares increased by 118 million units in the past two weeks, realizing remarkable growth, with the new share count ranking 3rd out of 14 comparable funds. (Data source: Wind)

For capital flow, theTianhong CSI Photovoltaic Industry ETF recorded a latest net capital outflow of RMB 34.5826 million. Over the recent 10 trading days, it achieved net capital inflows on 7 days, accumulating a total of RMB 1.79 billion in "capital absorption" and an average daily net inflow of RMB 17.8648 million. (Data source: Wind)

Data shows that leveraged capital has been continuously deploying in the ETF. The net margin purchase amount of theTianhong CSI Photovoltaic Industry ETF on the previous trading day reached RMB 7.8547 million, and the latest margin trading balance stood at RMB 85.5207 million. (Data source: Wind)

As of February 3, theTianhong CSI Photovoltaic Industry ETF had a NAV increase of 57.33% in the past year, ranking among the top 3 of comparable funds and placing 658th out of 3,491 index equity funds (top 18.85%). In terms of profitability, as of February 3, 2026, since its establishment, the ETF has achieved a maximum monthly return of 24.71%, the longest consecutive monthly growth period of 5 months with a cumulative increase of 83.59%, and an average monthly return of 9.82% in upward months. As of February 3, 2026, the ETF's annualized excess return over the benchmark in the past two years was 1.76%, ranking among the top 3 out of 9 comparable funds.

As of January 30, 2026, theTianhong CSI Photovoltaic Industry ETF had a Sharpe ratio of 1.67 in the past year, ranking among the top 3 out of 10 comparable funds, delivering higher returns under the same level of risk.

Regarding drawdown, as of February 3, 2026, the ETF's maximum drawdown since the beginning of the year was 6.28%, with a relative benchmark drawdown of 0.10%.

In terms of fees, theTianhong CSI Photovoltaic Industry ETF has a management fee rate of 0.50% and a custodian fee rate of 0.10%.

For tracking accuracy, as of February 3, 2026, the ETF's tracking error since the beginning of the year was 0.009%, the highest tracking accuracy among comparable funds.

TheTianhong CSI Photovoltaic Industry ETF closely tracks the CSI PV Industry Index. This index selects no more than 50 of the most representative listed company securities from those whose main businesses involve the upstream, midstream, and downstream of the PV industry chain as index samples, aiming to reflect the overall performance of listed company securities in the PV industry.

Data shows that as of January 30, 2026, the top 10 weight stocks of the CSI PV Industry Index (931151) were Tebian Electric Apparatus Stock Co., Ltd., Longi Green Energy Technology Co., Ltd., TCL Technology Group Corporation, Sungrow Power Supply Co., Ltd., Maxwell Technologies Co., Ltd., Tongwei Co., Ltd., Jiejia Weichuang Technology Co., Ltd., Robot Technology Co., Ltd., Chint Electric Co., Ltd., and Deye Home Appliances Co., Ltd., with a combined weight of 53.49%. (The stocks listed above are merely constituent stocks of the index and do not constitute specific investment recommendations.)

EBSCN stated that the PV industry benefits from the implementation of anti-involution policies on the one hand, and is expected to profoundly benefit from the development of space computing power on the other. Recently, SpaceX, owned by Elon Musk, announced on its official website that it will formally merge with xAI. The two giants will accelerate the development of space data centers. As a key energy supply equipment for space data centers, space PV will contribute incremental demand to the recovery and development of the industry.

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