NewTimeSpace News:As of 14:08 on March 12, 2026, the CSI PV Industry Index (931151) rose 0.59%. Its component stocks posted notable gains, with SOI New Energy up 14.93%, Jinkai New Energy up 10.02%, China Southern Network Energy up 5.85%, Jinko Technology up 5.76% and JA Solar Technology up 5.32%. TheTianhong CSI Photovoltaic Industry ETF(159857) rose 0.40%, moving towards a seventh consecutive daily gain, with a latest price of RMB 1.01. In the longer term, as of March 11, 2026, theTianhong CSI Photovoltaic Industry ETFhad a cumulative increase of 6.26% in the past week. (The stocks listed above are only index components and do not constitute any specific investment recommendation.)

In terms of liquidity, theTianhong CSI Photovoltaic Industry ETFrecorded an intraday turnover rate of 8.81% with a trading volume of RMB 211 million. As of March 11, it had an average daily trading volume of RMB 256 million in the past week, ranking top 2 among comparable funds.

In terms of scale, the PV ETF's scale increased by RMB 186 million in the past week, achieving significant growth, with the newly added scale ranking 2nd out of 15 comparable funds. (Data source: Wind)

In terms of capital flows, theTianhong CSI Photovoltaic Industry ETFsaw a net capital outflow of RMB 81.2756 million in the latest trading session. In the longer term, it attracted a total of RMB 36.8523 million in capital over the past 5 trading days. (Data source: Wind)

Data showed that leveraged funds have continued to build positions in the ETF. The latest margin purchase volume of theTianhong CSI Photovoltaic Industry ETFreached RMB 22.0308 million, with the latest margin balance standing at RMB 61.6489 million. (Data source: Wind)

As of March 11, the net asset value (NAV) of theTianhong CSI Photovoltaic Industry ETFhad risen 19.77% in the past five years, ranking top 2 among comparable funds. In terms of earnings capacity, as of March 11, 2026, since its inception, the ETF has achieved a maximum monthly return of 24.71%, a longest streak of rising months of 5 months with a cumulative gain of 83.59% during the streak, and an average monthly return of 9.68% in rising months. As of March 11, 2026, the ETF had an annualized excess return of 1.64% over the benchmark in the past two years, ranking top 3 out of 9 comparable funds.

As of March 6, 2026, theTianhong CSI Photovoltaic Industry ETFhad a Sharpe Ratio of 1.72 in the past year, ranking top 3 out of 10 comparable funds, delivering higher returns at the same risk level.

In terms of drawdown, as of March 11, 2026, the ETF's maximum drawdown year-to-date was 6.26%, with a drawdown of 0.17% relative to the benchmark. It took only 2 days to recover from the drawdown, the fastest recovery speed among comparable funds.

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

In terms of tracking accuracy, as of March 11, 2026, the ETF had a tracking error of 0.012% year-to-date, boasting the highest tracking accuracy among comparable funds.

TheTianhong CSI Photovoltaic Industry ETFclosely tracks the CSI PV Industry Index, which selects no more than 50 most representative listed company securities from those whose core businesses cover the upstream, midstream and downstream of the PV industry chain, so as to reflect the overall performance of listed company securities in the PV industry.

Data showed that as of February 27, 2026, the top 10 weight stocks of the CSI PV Industry Index (931151) were TBEA Co., Ltd., LONGi Green Energy Technology, TCL Technology, Sungrow Power Supply, Tongwei Co., Ltd., Maxwave Technology, Robotec Technology, Deye Co., Ltd., JingSheng Mechanical & Electrical Co., Ltd. and Chint Electric Co., Ltd., accounting for a total of 52.32% of the index weight. (The stocks listed above are only index components and do not constitute any specific investment recommendation.)

EBSCN stated that the 2026 Government Work Report proposed to strengthen the regulation against monopolies and unfair competition, consolidate the rigid constraints of fair competition review, and thoroughly rectify cutthroat competition by comprehensively using measures such as production capacity regulation, standard guidance, price law enforcement and quality supervision, so as to foster a sound market ecosystem. Against this backdrop, the PV industry will benefit from the anti-cutthroat competition policies, and the supply-demand imbalance is expected to see a crucial turnaround.

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