Zhi Tong Cai Jing·2025-10-02 03:27Core Viewpoint - The photovoltaic sector is experiencing a general rise in stock prices, driven by increasing prices of upstream materials and a recovering market for photovoltaic glass [1] Group 1: Stock Performance - Xinyi Solar (00968) increased by 9.01%, reaching HKD 3.75 - Flat Glass (601865) rose by 6.69%, reaching HKD 12.12 - Xinyi Energy (03868) saw a 3.13% increase, reaching HKD 1.32 - GCL-Poly Energy (03800) grew by 3.05%, reaching HKD 1.35 [1] Group 2: Price Trends - In September, prices for polysilicon, silicon wafers, cells, and photovoltaic modules all increased, with upstream prices rising more than downstream prices - Photovoltaic glass prices are gradually recovering due to reduced production from leading companies, lower industry inventory, and a contraction in supply [1] Group 3: Market Outlook - The overall market is currently weak following a period of preemptive installations, but centralized projects are driving installation demand - Future price stability in the photovoltaic industry is anticipated, influenced by terminal module price support and anti-involution measures - Upcoming policies regarding product sales pricing, mergers and acquisitions among companies, increased industry entry barriers, and enhanced product quality standards are expected to be implemented [1] Group 4: Industry Dynamics - The competitive landscape and ecosystem of the photovoltaic industry are likely to improve, presenting opportunities for valuation recovery [1]