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Group 1 - The current "anti-involution" movement differs from the previous supply-side reform, as it encompasses a broader range of industries beyond traditional manufacturing [1] - Recent policies and initiatives from the Central Financial Committee have elevated market awareness of "anti-involution," impacting sectors such as steel, building materials, coal, and photovoltaics [1] - The recognition and acceptance of "anti-involution" by the market are stronger now compared to previous self-initiated actions within industries [1] Group 2 - The photovoltaic industry is experiencing significant challenges, with a supply-demand imbalance leading to severe price drops and widespread losses among companies [2] - Since the beginning of 2023, the photovoltaic sector has seen a 90% drop in silicon material prices, while profit margins have decreased by 70% despite a threefold increase in production capacity [2] - The Ministry of Industry and Information Technology has emphasized the need to regulate low-price competition in the photovoltaic sector [2] Group 3 - In response to the difficult market conditions, photovoltaic companies are actively participating in price increases and have signed a voluntary self-discipline agreement to control production [3] - Major photovoltaic glass manufacturers have announced a collective 30% production cut starting in July [3] - The ongoing self-discipline efforts and forthcoming "anti-involution" policies are expected to improve the supply-demand dynamics in the photovoltaic industry, creating potential investment opportunities [3]