Mei Ri Jing Ji Xin Wen·2026-01-13 06:04Core Viewpoint - The recent announcement by China's Ministry of Finance and State Taxation Administration regarding the adjustment of export tax rebate policies for photovoltaic products is expected to impact the industry significantly, particularly in the battery sector, leading to short-term export surges and long-term structural changes in the market [1]. Group 1: Policy Changes - The export VAT rebate rate for battery products will be reduced from 9% to 6% starting April 1, 2026, and will be completely eliminated from January 1, 2027 [1]. - This policy change is anticipated to create a rush in battery exports in 2026, intensifying supply-demand tensions in lithium mining and lithium hexafluorophosphate sectors [1]. Group 2: Market Impact - The adjustment is expected to lead to the elimination of outdated domestic production capacities in the long run, optimizing the battery industry landscape [1]. - Companies with overseas production capabilities are likely to benefit from these changes, as the market dynamics shift [1]. Group 3: ETF Performance - The Huaxia Photovoltaic ETF (515370) experienced a decline of 1.83%, while its constituent stocks, such as Junda Co., saw gains exceeding 8% [1]. - The ETF tracks the CSI Photovoltaic Industry Index, which includes a comprehensive range of companies across the photovoltaic supply chain, reflecting an 83.64% photovoltaic content, ranking first in the market [1].