反内卷新政策预期再起，光伏价格有望迎来新一轮修复

Core Viewpoint - The relevant authorities are expected to release a document soon to strengthen the regulation of photovoltaic production capacity, further restricting the operating rate and prohibiting new capacity to achieve a balance between supply and demand in the industry [1] Industry Summary - The photovoltaic industry has seen a general increase in pricing across various segments, indicating a potential new phase of reversing the "involution" trend [1] - Multiple measures have been implemented since the reversal of involution, effectively stabilizing and stopping the decline in photovoltaic prices [1] - The anticipation of new policies is likely to attract renewed investment interest in the reversal of involution themes, creating a resonance between expectations and reality as prices rise [1] Company Summary - The E Fund Photovoltaic ETF (562970, linked funds A/C: 017646/017647) tracks the CSI Photovoltaic Industry Index, focusing on leading companies across the entire photovoltaic industry chain [1] - The ETF has a high industry purity and is expected to benefit significantly from the "reversal of involution" theme, making it a core target for capturing the recovery of profit expectations behind this trend [1]