Henan introduces new measures for high-quality development of new energy storage, and Battery ETF Huaxia(512460) has experienced net capital inflows for four consecutive days.

As of April 3, 2026, 14:38, the CSI Battery Theme Index (931719) fell 2.61%. In terms of constituent stocks, gains and losses were mixed: China Southern Power Grid Technology led the way up 1.91%, Yundeng Electronics rose 1.27%, and Enjie Co., Ltd. increased 0.05%; Shangneng Electric led the decliners down 7.46%, Hove fell 6.13%, and Shouhail New Energy dropped 5.77%. The Huaxia Battery ETF (512460) fell 2.44%, with the latest quote at 0.92 yuan.

On the news front, previously, Henan issued measures for high-quality development of new-type energy storage, clearly proposing that by 2030, the province’s installed capacity of new-type energy storage should strive to reach 23GW, including 8GW on the user side. It also calls for supporting measures such as exempting transmission and distribution prices for charging energy, improving capacity pricing mechanisms, and supporting the conversion of renewable-energy co-built energy storage into independent energy storage, among other substantive benefit mechanisms. This signals that local energy storage policies are moving from “encouraging construction” to “improving returns,” accelerating the evolution of energy storage from a cost item into a revenue-generating asset, creating structural positive catalysts for areas such as energy storage system integration, battery cells, and upstream raw materials.

CITIC Securities believes that the global energy supply chain has continued to face disruptions, highlighting the necessity of energy self-reliance and controllability. China’s energy consumption structure is diversified, and the risks of dependence on imports are overall controllable; meanwhile, the transition to clean energy has delivered significant results. Under the demands to ensure energy security and promote the energy transition, we expect electricity pricing policies to be rolled out one after another to push electricity prices toward an earlier bottom and subsequent rebound, boosting investors’ enthusiasm for the power sector, and creating an opportunity for the power sector to see a dual improvement in fundamentals and valuation.

From the perspective of net capital inflows, the Huaxia Battery ETF has received consecutive net inflows over the past 4 days. It recorded a maximum net inflow of 10.77 million yuan on a single day and accumulated net inflows of 26.17 million yuan in total, with average daily net inflows reaching 6.54 million yuan.

The Huaxia Battery ETF closely tracks the CSI Battery Theme Index. The CSI Battery Theme Index selects, as index samples, securities of listed companies whose businesses involve power batteries, energy storage batteries, consumer electronics batteries, and related upstream and downstream segments of the industrial chain, to reflect the overall performance of securities of listed companies in the battery theme.

Data shows that as of March 31, 2026, the top 10 weight stocks of the CSI Battery Theme Index (931719) are Ningde Times, Sungrow Power Supply, Sanhua Zhikong, EVE Energy, Tinci Materials, Inovance, Deye Co., Ltd., Gotion High-Tech, Enjie Co., Ltd., and Gotion High-Tech. The combined share of the top 10 weight stocks is 49.82%.