Sungrow Power Supply(SZ:300274) Xin Lang Cai Jing·2025-09-15 06:53Core Insights - The A-share market showed a mixed performance on September 15, with the new energy sector leading the gains, particularly the photovoltaic (PV) sector, as evidenced by the slight increase of 0.36% in the leading photovoltaic ETF (516290) [1] - The photovoltaic ETF (516290) experienced a net inflow of over 40 million yuan in the past five days, with four consecutive days of inflows [1] - The Ministry of Industry and Information Technology (MIIT) has emphasized the need for self-discipline in the photovoltaic industry to address supply-demand imbalances, indicating a potential policy-driven recovery for the sector [4] Market Performance - The component stocks of the photovoltaic ETF (516290) exhibited mixed performance, with notable gains from Yangguang Electric (over 3%) and slight increases from TCL Technology and TBEA, while stocks like Robotech and Kehua Data saw minor declines [3] - The recent government initiatives aim to stabilize the photovoltaic industry and promote healthy development, which may lead to a reversal in the sector's fortunes [4] Price Trends - The price of polysilicon has rebounded significantly, rising from 34,400 yuan/ton at the end of June to 47,100 yuan/ton by the end of July, marking a 36.9% increase [4] - The price index for polysilicon used in silicon ingots increased from 46 yuan/kg to 48 yuan/kg, translating to approximately 5.95 USD/kg [4] Future Outlook - Analysts suggest that the ongoing efforts to curb irrational competition in the photovoltaic sector may lead to a recovery in polysilicon prices and overall market conditions [6] - The core drivers for potential price increases in Q4 include policy support, stabilization of industrial silicon prices, and the implementation of production limits, which may enhance cost recovery across the supply chain [6] - The photovoltaic sector is expected to experience a fundamental recovery, with positive sentiment anticipated as the industry navigates through current challenges [6]