On May 27th, the new energy sector surged, with the battery ETF (561910) rising over 2%, the new energy vehicle ETF (159183) increasing over 1%, CATL rising over 4.92%, FARATRONIC increasing over 7%, and DeYe Co., Ltd. and Sungrow Power Supply Co., Ltd. following suit.
On the news front, the Passenger Car Association released its latest research report, estimating that the retail market size for narrow-sense passenger vehicles in May will be approximately 1.52 million units, a month-on-month increase of 9.9%; among them, the retail volume for new energy vehicles is expected to be around 950,000 units, a month-on-month increase of 12.0%, with a penetration rate of about 62.5%. Meanwhile, the Ministry of Industry and Information Technology (MIIT) released key points for automotive standardization work for 2026, clearly stating the focus on researching the standard system for vehicle solid-state batteries and promoting the release of key standards such as battery specifications and thermal management systems. The mild recovery on the demand side and the policy-driven standard guidance resonate to provide dual support for the high-quality development of the battery industry chain.
The continuous improvement in new energy vehicle retail data directly confirms the resilience of demand for power batteries. In May, new energy retail is expected to grow by 12% month-on-month, with a growth rate higher than the overall passenger vehicle market, and the penetration rate further increasing to 62.5%, reflecting the deepening acceptance of electric products by consumers. Leading manufacturers' retail targets for this month are expected to grow by about 10% month-on-month, in line with regular seasonal trends, indicating that the production and stocking rhythm of the industry chain is stable and orderly. For the battery segment, the continuous increase in the energy capacity per vehicle and the strong growth in export demand have led to a sustained increase in the growth rate of power battery shipments, which continues to exceed the growth rate of complete vehicle sales, further concentrating the distribution of industry chain value towards leading companies with technological barriers and cost advantages.
The release of the MIIT's standardization work points provides institutional guarantees and industrial guidance for the iteration of battery technology. The document clearly lists the research on the standard system for vehicle solid-state batteries as a priority, while also promoting the release of key standards such as battery specifications and thermal management systems. This means that the industrialization process of solid-state batteries will shift from spontaneous exploration by enterprises to a new stage led by industry standards. The proactive establishment of standards helps unify technical routes, standardize product performance, and accelerate testing and verification, clearing obstacles for solid-state batteries to move from the laboratory to large-scale deployment. Combined with the recent intensive announcements of solid-state battery vehicle integration results by companies such as CATL, GAC, and Dongfeng, the mutual efforts of policy and industry signify that solid-state batteries are entering a critical window period for industrialization from concept verification. For the industry chain, the improvement of the standard system will benefit leading companies with core technological reserves and mass production capabilities, accelerating industry clearing and pattern optimization.
From a configuration perspective, the current battery industry chain presents a triple benefit of supported demand, technological breakthroughs, and valuation space. On the demand side, the continuous increase in the penetration rate of new energy vehicles combined with explosive growth in energy storage solidifies the dual-driven pattern of power batteries and energy storage batteries; on the technology side, the acceleration of solid-state battery standard research and the imminent mass production of sodium-ion batteries open up valuation elasticity for the sector; on the valuation side, the CSI Battery Thematic Index currently has a price-to-earnings ratio of 31.92X, lower than 68% of historical time, and considering the expected performance growth rate in 2026, the cost-performance ratio of configuration continues to stand out.
In summary, the moderate recovery of May's new energy retail data verifies demand resilience, and the MIIT's acceleration of solid-state battery standard research promotes the industrialization process, both of which jointly strengthen the medium- to long-term growth logic of the battery industry chain. Driven by multiple factors such as increasing penetration rates, technological iteration, and policy support, core segments with technological platform capabilities and global competitiveness are expected to continue benefiting from the dividends of high-quality industry development
The Battery ETF (561910) tracks the CSI Battery Thematic Index, with nearly 60% of its content in energy storage and over 38% in sodium-ion batteries, including industry leaders such as Sungrow Power, CATL, Guoxuan High-Tech, XianDai Intelligent, and Tianci Materials. It covers the upstream and downstream of the battery industry chain, including power, energy storage, and consumer electronics. Investors can use the Battery ETF (561910) [Link A: 016019; Link C: 016020] to layout their investments in a packaged manner along the industry chain

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On May 27th, the new energy sector surged, with battery ETFs and new energy vehicle ETFs both rising, and CATL and FARATRONIC performing outstandingly. The Passenger Car Association report indicates that retail sales of new energy vehicles are expected to reach 950,000 units in May, a month-on-month increase of 12%, with a penetration rate rising to 62.5%. The Ministry of Industry and Information Technology released key points for automotive standardization work, promoting research on solid-state battery standards to support the development of the battery industry chain. Overall market demand is recovering, and the production and stocking rhythm of the industry chain is stable

同壁财经

FARATRONIC

CATL

Hua Xia CSI New Energy Vehicles ETF

First Trust S-Network Future Vehicles & Tech ETF

Hwabao WP CSI Intelligent Electric Vehicle ETF

HFT CSI Auto Components Thematic ETF

Ping An CSI Auto Components Thematic ETF

E Fund CSI Auto Components Thematic ETF

ChinaAMC CSI Battery Thematic ETF

Guotai CSI 800 Automobile and Parts ETF

ChinaAMC CSI Auto Components Thematic ETF

China Merchants CSI Battery Theme ETF

China Merchants CSI New Energy Vehicles ETF

Deye

Sungrow Power Supply

GAC Group

GAC GROUP

DFAC

DONGFENG GROUP

GOTION

WUXI LEAD

TINCI

CATL HK SDR 30to1

Batteries + New Energy Vehicles rise together! Sales of New Energy Vehicles rebound