Zheng Quan Shi Bao Wang·2025-10-29 07:09Core Insights - The photovoltaic industry chain stocks experienced significant gains on October 29, with major companies like Sungrow Power exceeding a 15% increase, while others like JinkoSolar and LONGi Green Energy reached their daily limit up [1] - The Central Committee of the Communist Party of China released recommendations for the 15th Five-Year Plan, emphasizing the development of clean energy and the integration of various energy sources, which is expected to positively impact the photovoltaic sector [1] Industry Summary - The third quarter is anticipated to bring improvements in performance for the photovoltaic industry, driven by both a recovery in earnings and substantial support from anti-involution measures, indicating that the industry is currently at the bottom of the cycle [1] - The focus on anti-involution and supply-side reforms, along with technological advancements, is expected to create structural opportunities within the industry [1] Company Insights - CITIC Securities highlighted that the cost of silicon materials has a strong support for pricing, and with anticipated production cuts in silicon material, the average industry cost is expected to rise, making price increases more likely [2] - Key observation points for the photovoltaic sector include the pricing situation in the module segment and the progress of capacity consolidation in the silicon material segment, with positive changes expected in November [2] - The BC battery segment is recommended as a top pick within the sector, as successful anti-involution measures could lead to a recovery in profitability for leading photovoltaic companies [2]