光伏50ETF（159864）盘中净流入超8000万份！光伏50ETF（159864）盘中回调，资金低位布局

Group 1 - The core viewpoint of the articles highlights the significant inflow of funds into the photovoltaic sector, particularly through the photovoltaic 50 ETF, indicating strong market interest in solar assets [1] - The macroeconomic cause of the current "anti-involution" trend is attributed to China's industrial upgrade leading to expansion in the private sector, coupled with a downturn in the real estate cycle, resulting in overcapacity and disorderly competition [1] - The "anti-involution" policy, initiated in July 2024, focuses on traditional high-energy-consuming industries and new productive sectors like photovoltaics and automobiles, emphasizing industry self-discipline and market-oriented measures [1] Group 2 - The photovoltaic industry is under significant cash flow and debt pressure, motivating it to achieve better supply-demand balance through self-regulation to improve financial conditions [1] - Industries with higher concentration can optimize capacity and adjust supply-demand relationships through coordination of production and inventory, as well as mergers and acquisitions [1] - According to Huatai Securities, as of the end of 2024, the photovoltaic sector has the highest proportion of loss-making companies and industry concentration among all "anti-involution" sectors, making it the most likely to accelerate capacity elimination and improve financial conditions through these policies [1]