电力设备行业：组件价格有望顺应协会倡议，实现企稳回升

Investment Rating - The industry investment rating is maintained as "Increase" [5] Core Viewpoints - The CPIA advocates for a minimum component price of 0.68 yuan/w to ensure product quality, discouraging below-cost sales and bidding practices [2] - The average bidding price for a recent procurement of 2.5GW N-type TOPCon bifacial components was 0.694 yuan/w, with prices ranging from 0.675 to 0.722 yuan/w [2] - The report suggests that the association's advocacy will help stabilize component prices, which may lead to an increase in upstream material prices to reasonable levels [2] - The U.S. Department of Commerce is considering the partial removal of anti-dumping and countervailing duties on certain Chinese crystalline silicon photovoltaic cells, which could benefit domestic manufacturers exporting to the U.S. [3] Summary by Sections Component Pricing - The lowest cost for high-quality products is currently 0.68 yuan/w, as per CPIA [2] - Recent data indicates that component prices have dropped to as low as 0.64 yuan/w, creating market disturbances [2] Market Dynamics - The U.S. is reviewing its trade policies regarding Chinese photovoltaic products, which may lead to favorable conditions for exports [3] Investment Recommendations - The report recommends focusing on companies leading in cost reduction and carbon reduction technologies, such as GCL-Poly Energy, Highsun Group, and Meichang [4] - It also highlights the potential of new technologies and advanced production capacities, suggesting attention to TOPCon and HJT related companies like JinkoSolar, Junda Technology, and Dongfang Risheng [4]