多行业力推“反内卷” 共筑产业健康根基

Core Viewpoint - The concept of "anti-involution" has become a necessary response for sustainable industry development, as the negative impacts of "involution" have become increasingly evident across various sectors, including automotive, photovoltaic, lithium battery, steel, and cement industries [1][2]. Group 1: Automotive Industry - The automotive industry is particularly affected by "involution," with a profit margin of only 3.9% in Q1 this year, and a net operating cash flow of -2.376 billion yuan among eight listed passenger car companies, marking a five-year low [3]. - The China Automobile Industry Association issued an urgent call against bottomless price wars, and regulatory bodies have prohibited high-interest automotive finance practices to promote rational business operations [3]. - The industry is expected to undergo consolidation, with weaker companies likely exiting the market, reshaping the competitive landscape as a means to combat "involution" [6]. Group 2: Photovoltaic Industry - The photovoltaic sector is facing severe challenges, with total revenue for 64 listed companies projected at 931.096 billion yuan in 2024, a year-on-year decrease of 22.4%, and a shift from a profit of 104.955 billion yuan in 2023 to a loss of 29.757 billion yuan in 2024 [3]. - Leading companies like Trina Solar and LONGi Green Energy are focusing on accelerating the commercialization of high-efficiency products and responding to the construction of a unified national market [3][4]. Group 3: Lithium Battery Industry - The lithium battery sector is experiencing a downturn after rapid capacity expansion, with 65 out of 104 listed companies expected to see a decline in net profits, and over 60 companies facing a year-on-year decrease in gross margins [4]. - Some companies are adjusting their expansion plans in response to market conditions, with notable projects being halted [4]. - The industry is also facing challenges in capacity clearance, with experts suggesting that the ultimate solution lies in the bankruptcy or restructuring of inefficient enterprises [7]. Group 4: Industry-Wide Responses - Various industries are signaling a move towards "anti-involution" by optimizing capacity and releasing production cuts [6]. - The photovoltaic sector is identified as having a critical window for supply-side reform between late 2025 and early 2026, necessitating market-driven mergers and technological elimination of outdated capacities [6]. - The automotive industry is also expected to see a shift towards value-driven competition, focusing on differentiated high-quality products and services to meet diverse market demands [9]. Group 5: Technological Innovation - Technological innovation is viewed as a proactive approach to counter "involution," with a shift from low-price competition to high-end differentiation being essential for improving profitability [9]. - Companies in the lithium battery sector are competing through technological advancements to create unique products and establish competitive advantages [9]. - The CEO of Lantu Automotive emphasizes the importance of continuous value creation for society and users through innovation and efficiency improvements [10].