Sou Hu Cai Jing·2025-08-29 10:42Group 1 - The core viewpoint of the article is that China Galaxy has given a recommendation rating to Maiwei Co., Ltd. (300751.SZ) based on strong financial performance and positive industry outlook [1] - In Q2, the company's net profit attributable to shareholders increased by 43% quarter-on-quarter, driven by growth in overseas photovoltaic business and semiconductor operations, which improved gross margins [1] - The company plans to issue convertible bonds to raise approximately 1.967 billion yuan for investment in perovskite tandem projects, indicating a strategic focus on expanding its capabilities in the photovoltaic sector [1] Group 2 - The article highlights a significant difference between the company's approach to industry self-discipline and the broader trend of "anti-involution," suggesting that the photovoltaic industry's landscape may be optimized, leading to potential upward valuation [1] - The report mentions risks associated with changes in photovoltaic policies, intensified market competition, accounts receivable bad debt risks, and exchange rate fluctuations, which could impact the company's performance [1]