光伏出口退税取消进入倒计时，行业整合有望加速

Core Viewpoint - The cancellation of export VAT refunds for photovoltaic products starting April 1 is seen as a significant measure to curb the "internal and external competition" in the solar industry [1] Industry Impact - Industry manufacturers are increasing production efforts to export before the deadline, leading to a pessimistic outlook for demand in the second quarter [1] - The profit margins of leading companies are expected to be under pressure due to this preemptive export strategy [1] - Small and medium-sized enterprises that have relied on export VAT refunds for price competition will be more adversely affected by this policy [1] Long-term Outlook - The policy is anticipated to accelerate industry consolidation, potentially increasing the concentration of the industry [1] - The focus of competition is expected to shift from "price wars" to "technology wars" and "brand wars" in the long run [1]