BC 组件发电能力优势持续验证，光伏既有“反内卷”也有新技术，光伏ETF基金(516180)今日回调蓄势日内反弹明显

Group 1 - The core viewpoint of the articles highlights the competitive advantages of BC solar cell technology over TOPCon technology, particularly in terms of energy generation efficiency and aesthetic appeal [1] - A recent performance analysis by Empower Engenharia indicates that Hi-MO 9 components based on second-generation BC technology have a lifecycle energy generation advantage of over 3.5% compared to TOPCon products [1] - The National Photovoltaic Quality Inspection Center's report shows that from January 4 to June 30, 2025, Hi-MO 9 components achieved a 1.94% energy generation gain per watt compared to TOPCon components [1] Group 2 - The solar industry is expected to enter a "de-involution" phase, with significant attention on the upcoming Fourth Plenary Session from October 20-23, which may address "de-involution" as a key component of the 14th Five-Year Plan [2] - The third-quarter earnings reports of listed companies are anticipated to show significant improvement, particularly in the silicon material segment, following price increases since July [2] - The current market environment shows that the photovoltaic industry index has a low valuation advantage, with a year-to-date increase of 25.6% and a price-to-book ratio at the historical 49th percentile [2] Group 3 - As of September 30, 2025, the top ten weighted stocks in the CSI Photovoltaic Industry Index account for 58.02% of the index, including companies like Sungrow Power Supply, LONGi Green Energy, and Trina Solar [3]