光伏行业动态点评：光伏进一步强化自律，“反内卷”共识加强

Investment Rating - The report rates the photovoltaic industry as "Outperforming the Market" [1][7]. Core Insights - The photovoltaic industry has reached a consensus on strengthening self-discipline to prevent "involution" and unhealthy competition, as discussed in a meeting held by the China Photovoltaic Industry Association (CPIA) [1]. - The CPIA has released a cost analysis of the main products in the photovoltaic supply chain, indicating a rise in component prices, which is expected to help establish a bottom in the industry [1]. - The number of participating companies in the recent meetings has increased, further strengthening the consensus against "involution" [1]. - The report suggests that the industry's bottom is gradually being established, with production restrictions and price increases across various segments of the photovoltaic supply chain [1]. Summary by Sections Industry Consensus - The photovoltaic industry has reached a consensus on preventing "involution" and promoting healthy competition, with discussions emphasizing the need for self-discipline and market mechanisms to eliminate inefficient capacities [1]. Cost Analysis - The CPIA reported that the component cost remained stable at 0.603 yuan/W in November, while the minimum component price increased to 0.69 yuan/W, reflecting a commitment to reducing unhealthy competition and potentially improving profitability [1]. Market Dynamics - The report indicates that production restrictions are being implemented, with expectations of reduced silicon material output and price increases for photovoltaic cells and components, suggesting a potential phase of price hikes in the industry [1]. Investment Recommendations - The report recommends specific companies for investment, including Junda Co., JA Solar Technology, JinkoSolar, LONGi Green Energy, and Trina Solar, while suggesting to pay attention to Tongwei Co., GCL-Poly Energy, Daqo New Energy, and Shuangliang Eco-Energy [1].