Core Viewpoint - The recent rumors regarding the "photovoltaic storage platform" have caused significant volatility in the photovoltaic sector, leading to sharp declines in stock prices of major companies, although some recovery was noted by the end of the trading day [1][2]. Group 1: Market Reaction - On November 12, major companies in the photovoltaic sector experienced substantial stock price drops, with Canadian Solar (阿特斯) falling over 17%, and other leading firms like Tongwei Co., Longi Green Energy, and JA Solar nearing their daily limit down [1]. - The overall photovoltaic ETF declined by more than 4% on the same day, indicating widespread market concern [1]. Group 2: Company Responses - JA Solar issued a clarification statement denying any internal or external meetings where misleading comments were made, labeling the circulating information as a harmful rumor [1]. - The China Photovoltaic Industry Association's executive secretary urged the public not to spread rumors and emphasized the industry's efforts to promote orderly exit of outdated capacities [1][2]. Group 3: Industry Context - The excessive market reaction to the "storage" rumors highlights the severe supply-demand imbalance and price pressures faced by the photovoltaic industry, particularly in the upstream polysilicon segment [2]. - The concept of a "storage platform" is seen as a market-driven approach to reduce vicious competition and facilitate the exit of ineffective capacities, aiming to restore healthy profit levels in the industry [3]. - Ongoing efforts to combat "involution" in the photovoltaic sector are being supported by policy-level initiatives, including multiple industry meetings and consultations on mandatory national standards [3].

Core Viewpoint - Recent rumors regarding the failure of a silicon material storage platform have led to significant declines in the stock prices of various photovoltaic companies, raising concerns within the industry [3][4] Group 1: Market Reaction - On November 12, stock prices of major photovoltaic companies dropped sharply, with notable declines including: - Aiko Technology down 14.33% - Tongwei Co. down 6.06% - Longi Green Energy down 7.35% - JA Solar down 6.84% - Daqo New Energy down 8.76% - Other companies like JinkoSolar and TCL Zhonghuan also experienced declines exceeding 5% [3] Group 2: Industry Response - The China Photovoltaic Industry Association issued a statement on November 12, refuting the rumors and emphasizing that the industry is working steadily towards its goals, urging stakeholders to discern false information [4] - JA Solar representatives expressed confidence in the photovoltaic industry's policies against "involution" and support for the establishment of the storage platform, acknowledging the need for collaboration to overcome challenges [4]

Core Viewpoint - The recent news regarding the failure of the "storage" platform in the photovoltaic sector has led to significant declines in the A-share photovoltaic sector, with major companies experiencing substantial drops in stock prices. The China Photovoltaic Industry Association has refuted these rumors, emphasizing the importance of fair competition and the implementation of "anti-involution" policies to ensure high-quality development in the industry [2][4]. Group 1: Market Reaction - On November 12, the photovoltaic sector saw a sharp decline, with companies like Aters falling over 17% and the photovoltaic ETF dropping more than 4%. Major players such as Tongwei Co. and Longi Green Energy approached their daily limit down [2]. - The China Photovoltaic Industry Association issued a statement urging caution against unverified information and reaffirming its commitment to protecting the interests of the industry and the nation [2][4]. Group 2: Industry Response - JinkoSolar expressed confidence in the "anti-involution" policies and the establishment of the storage platform, acknowledging the need for collaboration among various stakeholders to overcome challenges and promote healthy industry development [2]. - Tongwei Co. also reiterated its support for the "anti-involution" initiative, believing that relevant policies will gradually be implemented [4]. Group 3: Price Trends - Since July, the photovoltaic industry has been undergoing "anti-involution," with silicon material prices gradually rising to cost levels. By the third quarter of 2025, the loss per ton of silicon material has significantly narrowed [4]. - The average price of N-type recycled silicon material increased from 34,700 yuan per ton on July 2 to 53,200 yuan per ton on September 24, marking a price increase of approximately 53% in the third quarter of 2025 [4].

Core Viewpoint - The photovoltaic sector experienced significant volatility on November 12 due to rumors regarding silicon material storage and the establishment of an alliance for photovoltaic silicon materials and components, which were later denied by JA Solar Technology [2][4]. Group 1: Company Responses - JA Solar Technology issued a clarification statement denying any involvement in the rumored discussions about silicon material storage, emphasizing that the circulated information was false and misleading [2]. - The company warned that it reserves the right to pursue legal action against those spreading false information and urged investors and the public to rely on official channels for accurate information [2]. - The company reiterated its commitment to comply with legal disclosure obligations and encouraged rational investment decisions among investors [2]. Group 2: Industry Context - The concept of a storage platform and silicon material alliance refers to a consolidation plan for polysilicon production capacity, aimed at controlling production by acquiring smaller producers and ceasing their operations to stabilize prices [4]. - The China Photovoltaic Industry Association stated its efforts to promote industry self-regulation and combat "involution" in the market, emphasizing the importance of coordinated efforts from the industry and government [4]. - A representative from Tongwei Co., another leading photovoltaic company, expressed strong support for the "anti-involution" initiative, indicating confidence in the gradual implementation of related policies [4].

Core Viewpoint - The leading integrated photovoltaic company, JA Solar Technology (002459.SZ), denied rumors regarding the failure of its polysilicon storage, stating that the claims are false and misleading to the public, and the company reserves the right to pursue legal action against the spread of such misinformation [1][3][4] Group 1: Company Response - JA Solar's board secretary has not made any statements regarding the alleged failure of polysilicon storage in any internal or external meetings, labeling the information as internet rumors [1] - The company emphasized its commitment to national policies against internal competition and its role in promoting industry self-discipline and social responsibility [3] - JA Solar urged the public not to believe or spread rumors, reinforcing its dedication to high-quality industry development [3][4] Group 2: Market Reaction - On the same day, the photovoltaic sector experienced a significant decline, with the photovoltaic ETF dropping over 5%, and major stocks like JA Solar, Tongwei Co. (600438.SH), and LONGi Green Energy (601012.SH) nearing their daily limit down [1][2] - The decline in the photovoltaic sector also negatively impacted popular energy storage stocks, with companies like Canadian Solar (688472.SH) and Sungrow Power Supply (300274.SZ) seeing substantial drops of over 17% and 5%, respectively [1] - Following the official clarifications regarding the rumors, the stock declines in the photovoltaic sector began to narrow, and the main contract for polysilicon futures rebounded from a drop to a gain [4]

Group 1 - The core viewpoint of the articles revolves around the response of companies in the photovoltaic industry to market rumors and their commitment to support the "anti-involution" initiative, which aims to restore fair competition in the market [2][3] - JinkoSolar expressed confidence in the implementation of related policies and the establishment of a storage platform to promote healthy industry development, acknowledging the need for collaboration to overcome challenges [2] - The China Photovoltaic Industry Association emphasized the importance of industry self-discipline and warned against malicious rumors that aim to undermine the industry [3] Group 2 - Since July, the photovoltaic industry has been undergoing an "anti-involution" phase, leading to an increase in silicon material prices, with a significant price rise observed from July to September 2025 [3] - The average price of N-type recycled silicon material increased from 34,700 yuan per ton on July 2 to 53,200 yuan per ton on September 24, marking a price increase of approximately 53% [3] - On the cost side, the production costs of silicon materials have shown a stable downward trend, with unit losses significantly narrowing due to price increases driven by the "anti-involution" initiative [4]

Core Viewpoint - The article discusses the recent turmoil in the photovoltaic (PV) industry due to rumors about the failure of anti-involution policies, which led to significant stock declines. However, the industry association's clarification has stabilized the market, highlighting the determination to combat unhealthy competition and restore value in the sector [3][4][17]. Group 1: Industry Context - The term "involution" has become synonymous with the PV industry in 2023, characterized by homogenized expansion, price wars, and inefficient competition amid slowing installation demand [7]. - The capital market's reaction is evident, with the PV ETF experiencing a dramatic decline of 68.39%, reflecting the industry's struggles and the negative sentiment surrounding it [8]. - The anti-involution initiative began planning in May 2024, officially launching in October 2024, with policies aimed at curbing unhealthy competition and restoring market balance [9][10]. Group 2: Policy Measures - Current policies focus on "price protection" and "volume control," aiming to eliminate below-cost sales and facilitate the exit of outdated production capacities [10]. - Initial results of the price protection measures show significant price increases in key materials: silicon materials up 33.33%, silicon wafers up 17.39%, batteries up 8.92%, and modules up 2.45% [11]. - The silicon material segment is crucial for reversing the industry's overcapacity, as it has the least production elasticity and is capital-intensive, making it difficult to restart production once halted [12][13]. Group 3: Market Recovery - The anti-involution actions have led to expectations of rapid capacity reduction in the silicon material sector, which is essential for improving the overall PV industry landscape [17]. - The establishment of a joint storage platform for silicon material by multiple companies is anticipated to facilitate the exit of smaller players and further stabilize the market [16]. Group 4: Asset Revaluation - The article posits that the anti-involution policies will drive a revaluation of PV assets, transitioning the industry from scale expansion to quality competition [20]. - Companies like Tongwei, TCL Zhonghuan, and Longi Green Energy are showing signs of recovery, with some reporting improved quarterly performance despite still being in the red [22]. - The focus on technological advancements, such as perovskite solar cells, is seen as a pathway for companies to differentiate themselves and enhance their market value [24][25].

Core Viewpoint - The recent rumors regarding the failure of the "anti-involution" policy in the photovoltaic industry led to significant stock declines, but subsequent clarifications from industry associations helped stabilize the market, indicating a strong commitment to reversing negative competition in the sector [1][5][18]. Group 1: Market Reaction - Following the spread of rumors, the photovoltaic sector experienced a sharp decline, with companies like Jingao Technology and Tongwei Co. seeing drops of 6.84% and 6.06% respectively [5]. - The China Photovoltaic Industry Association issued a statement to refute the rumors, emphasizing the importance of maintaining industry integrity and combating malicious market manipulation [1][5]. Group 2: Anti-Involution Policy - The term "involution" has become synonymous with the photovoltaic industry since 2023, characterized by homogenized expansion and price wars amid slowing installation demand [7]. - The core of the current policy focuses on "price protection" and "volume control," aiming to eliminate below-cost sales and facilitate the exit of outdated production capacities to restore market balance [9][10]. Group 3: Price Recovery - Initial results from the price protection measures show positive trends, with significant price increases in key materials: silicon materials up 33.33%, silicon wafers up 17.39%, and battery cells up 8.92% [10]. - The recovery of prices is expected to improve profitability for companies, laying a solid foundation for valuation increases [20]. Group 4: Capacity Control - The silicon material segment is crucial for addressing overcapacity issues, as it has the least production flexibility and is capital-intensive [11][12]. - Companies are beginning to implement production and sales controls, with expectations to limit annual output to 1.4 million tons, aligning with earlier targets [14]. Group 5: Asset Revaluation - The anti-involution policies are transitioning from expectation to substantial implementation, driving the revaluation of assets in the photovoltaic sector [18][19]. - Companies like Tongwei Co., GCL-Poly Energy, and Daqo New Energy are expected to attract market attention as they benefit from reduced silicon material production and subsequent price increases [22]. Group 6: Technological Advancements - The Ministry of Industry and Information Technology has initiated efforts to accelerate the development of advanced photovoltaic technologies, such as perovskite solar cells, which have the potential for higher efficiency compared to traditional silicon cells [23]. - Recent announcements from companies like GCL-Poly regarding the commercialization of perovskite technology indicate a shift towards innovative production methods, which could lead to significant market opportunities [24].

Core Viewpoint - The Chinese Photovoltaic Industry Association has issued a statement addressing false information circulating online, emphasizing its commitment to industry self-discipline and combating negative narratives about the photovoltaic sector [1] Market Performance - On November 12, the photovoltaic sector experienced a decline, with notable drops in stock prices: - Canadian Solar (阿特斯) fell over 17% - Photovoltaic ETF dropped over 4% - Longi Green Energy (隆基绿能) decreased over 7% - Tongwei Co. (通威股份) and JA Solar (晶澳科技) both fell over 6% [3] Stock Performance - The photovoltaic equipment index was reported at 8277.90, down 3.51% - Specific stock performances included: - Canadian Solar: 20.56, down 14.33% over five days - Aiko Solar (艾罗能源): 68.65, down 10.16% over five days - Yuhuan Energy (亿晶光电): 4.72, down 7.81% over five days - Longi Green Energy: 38.75, down 7.23% over five days - JA Solar: 14.03, down 6.84% over five days [4]

Group 1 - The China Photovoltaic Association issued a statement refuting rumors circulating online, emphasizing that the association and industry players are working steadily to maintain national and industry interests [1] - The association condemned malicious actions aimed at defaming the photovoltaic industry and stated their commitment to combat such behaviors [1] Group 2 - JinkoSolar's staff responded to media inquiries, clarifying that no executives claimed "the storage platform is failing," labeling the rumor as false [3] - The staff noted that JinkoSolar is not a participant in the storage platform and lacks detailed information on its implementation [3] - The photovoltaic sector experienced a significant decline, with leading companies like Longi Green Energy dropping over 7% and Canadian Solar falling over 14% [3]