朝闻国盛：价格法修正草案公布，强调“反内卷”、“不低于成本价倾销”

Core Insights - The report discusses the recently published draft amendment to the pricing law, emphasizing the concept of "anti-involution" and prohibiting dumping prices below cost [2] - The focus is on the recovery of prices within the photovoltaic industry, with expectations for polysilicon prices to return above industry cost levels due to supply-side reforms [2] - The report highlights potential price recovery opportunities across various segments of the photovoltaic supply chain, including silicon materials, solar glass, wafers, cells, and modules [2] Industry Performance - The report provides a performance overview of different industries, noting that the steel industry saw a 20.7% increase in January, 19.1% in March, and 38.2% over the past year [1] - The construction materials sector experienced increases of 18.5% in January, 15.5% in March, and 33.0% year-on-year [1] - The non-ferrous metals industry reported a 14.7% increase in January, 22.1% in March, and 40.3% over the past year [1] - The telecommunications sector had a performance of 13.0% in January, 29.1% in March, and 51.5% year-on-year [1] - The pharmaceutical and biotechnology sector saw increases of 11.6% in January, 18.7% in March, and 33.0% over the past year [1] Key Focus Areas - The report identifies three main focus areas for investment opportunities: 1. Price recovery opportunities in the supply chain driven by supply-side reforms, particularly in polysilicon, solar glass, wafers, cells, and modules [2] 2. Long-term growth opportunities arising from new technologies, specifically monitoring the progress of perovskite GW-level production lines and the expansion of BC [2] 3. The recovery trends in profitability for lithium battery components, including lithium iron phosphate, lithium hexafluorophosphate, and copper foil [2]