Zhongjin: The photovoltaic industry enters a key observation node of "anti-inner-coil".

The research report of Zhongjin Company believes that after the photovoltaic industry experienced a rush to install in the first half of the year and an industry price increase in the third quarter, operational pressure has been alleviated to a certain extent. However, debt pressure remains high, the supply-demand relationship has not significantly improved, and the necessity of "anti-involution" remains. With the joint efforts of various ministries, associations, and enterprises, the "anti-involution" measures in some aspects are gradually becoming clear. Although there are still significant challenges overall, Zhongjin Company remains optimistic about the continuous advancement of "anti-involution" and sector resilience. September is a critical time for the implementation of the "anti-involution" policy. Industry "anti-involution" measures and selling above cost price can help the industry repair its beta to breakeven, but differences in cost curves and products and markets provide the source of alpha, helping enterprises achieve profitability.