During the Spring Festival period, each link of the photovoltaic industry is showing an accumulation of inventory, with hopes for improvement after the holiday.

During the Spring Festival, the prices of silicon wafers have remained stable, and low-priced orders in the market are decreasing. The production of silicon wafers decreased by over 3% in February, slightly higher than expected. The inventory of silicon wafer companies continues to increase, and after fluctuations in silver prices, it is expected that battery companies will gradually resume work after the holiday, possibly entering a destocking period for silicon wafers. In February, the global production of solar cells by Chinese enterprises in the sample decreased by 11% month-on-month, and domestic production decreased by 12% month-on-month. Purchasing sentiment downstream during the Spring Festival is low. The actual trading volume in the domestic market is weak, with very few effective orders. With the approaching window of the April tax refund policy, it is expected that the inventory level of solar cell wafers after the Spring Festival will see improvement.