Photovoltaic stocks continued their upward trajectory. At the time of writing,
The rebound is supported by a reported recovery in photovoltaic supply chain prices. However, the industry acknowledges that the current phase of supply-demand imbalance is not yet fully resolved. A key focus for energy sector representatives this year is solidifying efforts against internal competition and shifting the industry from price wars to high-quality development. Proposals from major solar company representatives included specific anti-"internal competition" measures.
In a research note, J.P. Morgan stated that anti-internal competition efforts in the solar sector have encountered an expected negative turn. Polysilicon spot prices dropped from over 50 yuan per kilogram in February to 48 yuan in early March. The bank attributes this to ambiguous definitions of "production costs" in the Price Law, prompting some producers to reduce inventory at lower prices due to cash flow pressures. J.P. Morgan believes that regardless of the policy direction, industry consolidation will be promoted, differing only in timing.