“反内卷”再加码，不得低于全成本销售！光伏ETF（515790）连续5周获周度资金净流入

Core Insights - The National Development and Reform Commission and the State Administration for Market Regulation released a draft amendment to the Price Law, establishing a legal basis for "anti-involution" in pricing, particularly against practices like selling below cost [1] - The solar industry is experiencing a price increase, with multi-crystalline silicon dense material averaging 42,000 yuan/ton, a 13.5% increase, and granular silicon averaging 44,000 yuan/ton, a 10% increase, indicating a critical window for substantial development under the "anti-involution" policy [1] - The solar ETF (515790) has seen a net inflow of 3.39 billion yuan since June 23, with a significant increase in fund shares and scale, making it the only solar-themed ETF in the A-share market with a scale exceeding 10 billion yuan [1] - The ETF closely tracks a solar industry index that includes up to 50 representative companies, with top five constituents being leading firms in the solar sector, poised to benefit from the current industry transformation [1] - CITIC Construction Investment Securities noted that the solar industry has become a representative sector for "anti-involution," with cost support for current prices and a gradual exit of outdated production capacity expected [1] Industry Summary - The "anti-involution" strategy and the "no less than full cost" pricing standard are expected to lead to the gradual clearing of outdated production capacity in the solar industry, marking a new phase in price chain recovery [1] - The solar ETF (515790) is highlighted as a key tool for capitalizing on the price recovery in the solar sector, with over 220,000 investors holding the fund [1] - The management of the solar ETF, Huatai-PB Fund, is recognized for its long-standing track record in ETF management, providing diversified and high-quality index investment tools [2]