Di Yi Cai Jing·2025-08-20 02:07Core Insights - The photovoltaic sector is experiencing a strong performance, with stocks like Yamaton and Huamin shares hitting the limit up, following a meeting held by six departments including the Ministry of Industry and Information Technology to regulate competition in the industry [1][2] - CITIC Securities believes that the photovoltaic industry has become a representative sector against "involution," with initial success in regulating prices along the supply chain, particularly in silicon materials, wafers, and batteries [1] - The meeting emphasized the importance of regulating competition for the high-quality development of the photovoltaic industry, aiming for sustainable growth [3] Group 1: Industry Developments - The meeting on August 19 discussed four main directions: strengthening industry regulation, curbing low-price competition, standardizing product quality, and supporting industry self-discipline [3] - There is a consensus among silicon material companies regarding production cuts and controlling output and sales, with clear plans for the next four months [2][3] - The industry is expected to see a gradual exit of outdated production capacity due to strong cost support under the "no sales below cost" policy [1] Group 2: Market Dynamics - The current cost of silicon materials is estimated to be between 47,000 to 63,000 yuan per ton at a 40% operating rate, providing strong support for current prices [1] - The industry is closely monitoring the pricing situation of components, which is crucial for the overall supply chain's health [1] - Future improvements in the industry's prosperity may depend on unexpected increases in demand and effective production control measures [1]