Sou Hu Cai Jing·2025-07-14 15:07Core Viewpoint - The "anti-involution" policy is gaining traction, leading to a rebound in related concept stocks, particularly in the steel, coal, and photovoltaic sectors, with significant price increases observed in leading companies [1][5]. Group 1: Market Performance - As of July 14, the Wind Photovoltaic Index has increased by 14.44% since its rebound began on June 20, with leading stocks such as Yamaton (002623), Guosheng Technology (603778), and Jingyuntong (601908) rising by 96.7%, 81.79%, and 54.67% respectively [1][5]. - Research institutions have shown heightened interest in "anti-involution" concept stocks, with over 283 related research reports published by brokers and futures firms since July [2]. Group 2: Policy Developments - The Central Economic Commission emphasized the need to deepen the construction of a unified national market, focusing on addressing low-price disorderly competition and promoting product quality improvement [3]. - The State Administration for Market Regulation held a meeting to strengthen fair competition reviews and enhance anti-monopoly enforcement, involving companies from various sectors including wind power, automotive, and internet platforms [3]. Group 3: Industry Insights - Key industries benefiting from the "anti-involution" policy include steel, cement, photovoltaic, and lithium battery sectors, with expectations of improved profitability and market performance [9][12]. - The "anti-involution" policy aims to guide companies away from cost competition, emphasizing the importance of R&D and product quality enhancement [10]. Group 4: Future Outlook - Analysts suggest that the current "anti-involution" trend may unfold in three phases: initial policy catalysis, subsequent resource price increases, and stabilization of high prices [7]. - The anticipated policy measures are expected to be rolled out by various ministries before September, focusing on supply-side reforms and addressing overcapacity in several industries [6].