NewTimeSpace News:As of 14:00 on February 25, 2026, the CSI Photovoltaic Industry Index (931151) surged 1.13%. Among its constituent stocks, Hengdian East Magnetic rose 6.50%, Deye Co., Ltd. climbed 6.25%, GoodWe Technology advanced 5.19%, while Jingcheng Machinery & Electric, Jinko Technology and other stocks followed the upward trend. The Tianhong CSI Photovoltaic Industry ETF (159857) rose 1.38% to a latest price of RMB 0.96 per share. Over a longer period, as of February 24, 2026, the ETF had a cumulative increase of 1.29% since the start of the month. (The stocks listed above are only constituent stocks of the index and do not constitute any investment recommendation.)

In terms of liquidity, the Tianhong CSI Photovoltaic Industry ETF posted an intraday turnover rate of 7.1% with a trading volume of RMB 175 million. Over a longer period, as of February 24, the average daily trading volume of the ETF reached RMB 323 million in the past month, ranking top 2 among comparable funds.

In terms of scale, the Tianhong CSI Photovoltaic Industry ETF has achieved a significant growth of RMB 32.0996 million in the past two weeks, ranking 2nd out of 14 comparable funds in terms of newly added scale. (Data source: Wind)

In terms of shares, the Tianhong CSI Photovoltaic Industry ETF has seen a notable increase of 43 million shares in the past two weeks, ranking 3rd out of 14 comparable funds in terms of newly added shares. (Data source: Wind)

In terms of capital flow, the Tianhong CSI Photovoltaic Industry ETF recorded a net capital outflow of RMB 9.438 million in the latest session. Over a longer period, it has registered net capital inflows on 3 out of the past four trading days, with a total capital inflow of RMB 78.5279 million and a daily average net inflow of RMB 19.632 million. (Data source: Wind)

Data showed that leveraged funds have continued to build positions in the sector. The latest margin purchase amount of the Tianhong CSI Photovoltaic Industry ETF reached RMB 7.6579 million, with the latest margin balance standing at RMB 69.3018 million. (Data source: Wind)

As of February 24, the net asset value of the Tianhong CSI Photovoltaic Industry ETF has risen 1.41% in the past five years, ranking top 2 among comparable funds. In terms of earnings capacity, as of February 24, 2026, since its establishment, the ETF has achieved a maximum monthly return of 24.71%, a longest streak of monthly gains for 5 months with a cumulative increase of 83.59% during the period, and an average monthly return of 9.82% in rising months. As of February 24, 2026, the ETF has an annualized excess return of 1.69% over the benchmark in the past two years, ranking top 3 out of 9 comparable funds.

In terms of drawdown, as of February 24, 2026, the Tianhong CSI Photovoltaic Industry ETF has a maximum drawdown of 6.28% since the start of the year and a relative benchmark drawdown of 0.12%. It only took 2 days to recover from the drawdown, the fastest recovery among comparable funds.

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

In terms of tracking accuracy, as of February 24, 2026, the tracking error of the Tianhong CSI Photovoltaic Industry ETF was 0.012% in the past two months, the highest tracking accuracy among comparable funds.

The Tianhong CSI Photovoltaic Industry ETF closely tracks the CSI Photovoltaic Industry Index. The index selects no more than 50 most representative securities of listed companies whose core businesses cover the upper, middle and lower reaches of the photovoltaic industry chain as index samples, so as to reflect the overall performance of securities of listed companies in the photovoltaic industry.

Data showed that as of January 30, 2026, the top 10 weight stocks of the CSI Photovoltaic Industry Index (931151) were TBEA Co., Ltd., LONGi Green Energy Technology, TCL Technology, Sungrow Power Supply, Maxwave Technology, Tongwei Co., Ltd., Jiejia Weichuang Technology, Roboteck, Chint Electric and Deye Co., Ltd., accounting for a total of 53.49% of the index weight. (The stocks listed above are only constituent stocks of the index and do not constitute any investment recommendation.)

SCS stated that with the accelerated exit of backward production capacity in the photovoltaic industry and the gradual optimization of industry norms and pricing mechanisms, the signal of supply-side structural improvement is clear. It is expected that in 2026, against the backdrop of the release of overseas demand and the completion of domestic market-oriented capacity exit, equipment orders are expected to enter a recovery channel, and the sector has obvious cyclical recovery elasticity.

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