电力设备行业研究周报-光伏行业协会发声：低于成本投标中标涉嫌违法

Investment Rating - The report maintains an "Accumulate" rating for the photovoltaic industry [10]. Core Insights - The China Photovoltaic Industry Association has urged companies to participate in market competition legally and not to engage in sales and bidding below cost [2][12]. - The price of photovoltaic modules in the Chinese market has significantly declined since the second half of 2023, leading to instances of bids being won at prices below production costs, which poses a challenge for the photovoltaic manufacturing industry [3][13]. - The report highlights the importance of product quality and sustainable pricing, emphasizing that the sales price must exceed total costs for companies to operate sustainably [16]. Summary by Sections Cost Analysis - The China Photovoltaic Industry Association has published authoritative cost data for photovoltaic modules, indicating that the production cost for integrated N-type M10 double-glass photovoltaic modules is 0.68 CNY/W (including tax, excluding transportation and miscellaneous fees) as of October 2024 [5][15]. Recommendations for Manufacturers - Manufacturers are encouraged to comply with legal competition standards, enhance industry self-discipline, and shift their focus from low-cost bidding to improving product and service quality [6][17]. Recommendations for Bidding Parties - Bidding parties should respect market rules and legal regulations, creating reasonable bidding schemes. They are advised to set minimum price limits and adjust scoring criteria to prioritize product quality and service capabilities [7][18]. Association's Oversight and Actions - The association will monitor instances of below-cost bidding and may report such cases to market regulatory authorities. It plans to regularly publish industry cost data for reference by the industry and government [8][19]. Investment Strategy - The photovoltaic industry is expected to stabilize, with a recommendation to focus on companies with strong technological capabilities and bargaining power within the battery supply chain, such as Longi Green Energy and Aiko Solar [9][19].