光伏玻璃龙头，带头减产

Core Viewpoint - The photovoltaic industry is taking active measures to counteract excessive competition, with leading companies like Fuyat reducing production to restore market balance and improve pricing [1][5][9]. Industry Overview - The photovoltaic glass sector is experiencing a structural imbalance in supply and demand, prompting major companies to limit production to stabilize prices and support the overall health of the industry [1][3]. - Fuyat holds an 18% market share in global photovoltaic glass production as of the first half of 2025, with its photovoltaic glass business generating 168.2 billion yuan in revenue in 2024, accounting for 90.01% of total revenue [2]. Company Actions - Fuyat's recent announcement to reduce production aligns with the Ministry of Industry and Information Technology's call to combat excessive competition [1][5]. - Hainan Development also announced a reduction in production due to significant price drops and ongoing losses, aiming to lower operational costs [3]. - Other companies, such as Kaisheng New Energy and Samsung New Materials, are monitoring the supply-demand situation and adjusting their production strategies accordingly [4]. Policy Impact - Recent government policies aim to eliminate low-price competition and promote the exit of outdated production capacity, which is seen as a positive signal for the photovoltaic industry [5][6]. - The National Development and Reform Commission and the State Administration for Market Regulation have proposed regulations to prohibit below-cost pricing practices, targeting the core issues of the photovoltaic sector [6]. Market Response - The reduction in production has begun to show positive effects, with the average price of 2.0mm photovoltaic glass rising to 10.5 yuan per square meter in August, although it remains below the breakeven point of 13 yuan per square meter [8]. - The industry collectively reduced production by 8,350 tons per day in July, leading to a decrease in actual production capacity to 86,500 tons per day [8]. Trade and Competition - The China Electromechanical Products Import and Export Chamber has issued an initiative against unfair competition practices, emphasizing the need for fair competition and quality improvement in the photovoltaic sector [9][10]. - The initiative calls for adherence to fair competition principles and a focus on technological innovation to enhance the industry's global reputation [10].