--- title: "The Tianhong Photovoltaic ETF (159857) received subscriptions for 42 million units last Friday, ranking first among the same category in the Shenzhen market, as companies flock to enter the photovoltaic recycling sector" type: "News" locale: "en" url: "https://longbridge.com/en/news/281813927.md" description: "The Tianhong CSI Photovoltaic Industry ETF (159857) was subscribed for 42 million units last Friday, with a transaction amount of 148 million yuan, ranking first among the same category in the Shenzhen market. The photovoltaic industry index fell by 2.39%, but related stocks such as RoboTechnik and Jinko Power rose. The photovoltaic industry is facing a large-scale retirement wave, with a critical phase expected in 2026, prompting companies to accelerate their layout in photovoltaic recycling. Everbright Securities pointed out that future new demand and energy storage business will become profit growth points, and market-oriented mergers and acquisitions are expected to optimize the supply side" datetime: "2026-04-07T01:19:10.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281813927.md) - [en](https://longbridge.com/en/news/281813927.md) - [zh-HK](https://longbridge.com/zh-HK/news/281813927.md) --- # The Tianhong Photovoltaic ETF (159857) received subscriptions for 42 million units last Friday, ranking first among the same category in the Shenzhen market, as companies flock to enter the photovoltaic recycling sector Last Friday (April 3), the three major indices collectively closed lower, with the photovoltaic industry index down 2.39% at the close. Among the constituent stocks of this index, RoboTechnik rose over 11%, and Jinko Power rose over 3%. In related ETFs, **the Photovoltaic ETF Tianhong (159857) had a trading volume of 148 million yuan on that day, ranking first among the same category in the Shenzhen market**; Wind financial terminal data shows that **the Photovoltaic ETF Tianhong (159857) received subscriptions for 42 million shares on that day, also ranking first among the same category in the Shenzhen market**. In terms of capital flow, as of April 2, the Photovoltaic ETF Tianhong (159857) has seen net inflows for two consecutive trading days, with a cumulative net inflow of 177 million yuan; the latest circulating share count for this ETF is 2.893 billion shares, with a latest circulating scale of 2.475 billion yuan. The Photovoltaic ETF Tianhong (159857) closely tracks the photovoltaic industry index, with its industry allocation mainly including photovoltaic equipment, grid equipment, and electricity, with the top five constituent stocks being TBEA, LONGi Green Energy, TCL Technology, Sungrow Power Supply, and Tongwei Co., Ltd. On the news front, according to CCTV Finance, China's photovoltaic installed capacity has ranked first in the world for many consecutive years. As early photovoltaic modules reach their service life, a large-scale retirement wave is approaching. Reporters learned that the photovoltaic panels currently being dismantled mainly come from production defects of photovoltaic companies and panels damaged due to natural disasters at photovoltaic power stations. Industry insiders indicate that the domestic photovoltaic industry started around 2005, and based on a design life of 20 to 25 years for panels, a large-scale retirement wave of photovoltaic equipment is expected to begin in 2026. **Many companies are also accelerating their layout to further enhance recycling and processing scale**. **Everbright Securities** stated that looking ahead to 2026, the photovoltaic industry will enter a critical stage of capacity clearing and pattern reshaping. The growth rate of global and domestic installed capacity is slowing, and structural opportunities in emerging markets are becoming prominent under regional differentiation. New demand is expected to become an important increment. The energy storage business is entering a period of volume release, and the synergy between energy storage and photovoltaics is expected to become a new profit growth point and indirectly support photovoltaic consumption. Currently, the prices in the industrial chain remain low, and corporate profits are under pressure, coupled with technological iterations and capacity adjustment cycles, market-oriented mergers and acquisitions are expected to gradually take shape, optimizing the supply side. ### Related Stocks - [560980.CN](https://longbridge.com/en/quote/560980.CN.md) - [300757.CN](https://longbridge.com/en/quote/300757.CN.md) - [159857.CN](https://longbridge.com/en/quote/159857.CN.md) - [159864.CN](https://longbridge.com/en/quote/159864.CN.md) - [516180.CN](https://longbridge.com/en/quote/516180.CN.md) - [601778.CN](https://longbridge.com/en/quote/601778.CN.md) ## Related News & Research - [China’s energy bosses push for tighter rules as overcapacity bites](https://longbridge.com/en/news/282437584.md) - [Robotechnik Intelligent Technology's subsidiaries sign contracts](https://longbridge.com/en/news/280466701.md) - [21:50 ETMehr als nur Stromversorgung heute: Wir gestalten Australiens Zukunft im Bereich PV und Energiespeichersysteme](https://longbridge.com/en/news/282273356.md) - [Saatvik Green Energy shares in focus on Rs 108.75 crore order win](https://longbridge.com/en/news/282275694.md) - [These 10 careers offer stability when the economy tanks](https://longbridge.com/en/news/282359503.md)