光伏板块的这几年，诠释了行业竞争格局对于产业整体发展及投资价值的重要性。 在"双碳"政策推动、装机量增长与全球能源转型需求的多重驱动下，曾经的光伏板块是新能源赛道中的 景气度最高的方向之一，"你相信光吗？"也成为不少光伏投资者的口头禅。 但伴随这几年光伏产业极速扩张，持续的价格战和产能内卷使得光伏企业基本面承压，部分龙头也出现 亏损，光伏板块步入了漫长而又深度的调整。 直到近期"反内卷"的号角，光伏才突然之间回到我们视野。 数据显示，中国自2007年起一直是世界第一大光伏生产国，无论是产能还是技术均领先全球，新增装机 量连续十二年排名全球第一。其中，2024年我国光伏产业链各环节产能产量占全球比重均达80%以上， 新增装机占全球光伏新增装机总量的55%。 （数据来源：CPIA，截至2024年底） 产业的高速发展也带来了持续的产能扩张。然而，对于光伏产业而言，硅片、组件等环节技术成熟，设 备厂商新产线3-6个月即可投产，在资本扎堆入局下，光伏产业扩产门槛低与技术、产品同质化的特 点，导致产能扩张后光伏产业的竞争格局明显恶化。2024年我国硅片、电池、组件三大环节产能分别达 到753GW、654GW、588GW， ...

业内人士认为，多晶硅期货这波上涨，主要是受宏观政策预期推动。据悉，自6月底以来，有关光伏行 业的政策消息不断。中信建投期货分析师王彦青表示，随着供给侧调控不断深化，在销售价格不低于成 本的约束下，多晶硅下游价格同步跟涨，在情绪上形成正反馈。 据了解，随着政策预期持续发酵，多晶硅厂家开始逐步提高报价，下游硅片、电池片也开始涨价。 "多晶硅限价销售政策是近期支撑行情上涨的重要因素，尽管该消息目前尚未得到企业确认，但昨日开 盘后，多晶硅期货价格大幅拉涨，也侧面反映了市场对行业未来发展预期的改善。"国信期货分析师李 祥英认为，此前市场一直在关注高价硅料能否顺利向下传导，目前来看下游产品价格也受到了限价政策 影响，跟随硅料价格上行。从盘面价格来看，昨日多晶硅期货也基本锚定43874元/吨的价格高开，随后 继续强势上涨。 期货日报网讯（记者 刘威魁）7月17日，多晶硅期货延续上涨态势，主力PS2508合约报收45700元/吨， 涨幅为7.49%，创下上市以来新高，较6月下旬30400元/吨的低点上涨50.3%。 据王彦青测算，在PS综合能耗53kwh/kg、电价0.3元/kwh的水平下，目前多晶硅致密料含税综合成本为 4 ...

天能电力公司两机场光伏项目完成备案 海南首个"光储直柔"机场项目落地博鳌 据悉，光储直柔，是指在建筑领域应用太阳能光伏、储能、直流配电和柔性交互等四项技术的简 称。 此次落地的两个项目，是天能电力公司深度融入海南自贸港绿色低碳发展战略、践行"双碳"目标的 具体行动。其中博鳌国际机场项目将利用机场内闲置屋面、停车场等约3.11万平方米区域，建设总装机 容量5.18兆瓦的光伏电站，配套800千瓦/1600千瓦时储能系统，打造具备"自发自用、余电上网"功能的 智慧型光储直柔综合能源示范点，年发电量可达649万千瓦时。 三亚凤凰机场项目聚焦高效集约利用，在2823平方米办公区、停车场等闲置屋顶，运用BIPV（建 筑光伏一体化）技术，建设装机容量667千瓦的光伏电站，采用"自发自用"模式，年发电量约84.32万千 瓦时，将实现空间资源高效利用与建筑美学的结合。 据悉，项目建成后，将有效降低两大机场的能源外购成本和碳排放水平，显著缓解"迎峰度夏"等关 键时段的用电压力，构建起更加安全、绿色、高效的机场能源供应体系。 海南日报讯（海南日报全媒体记者 邵长春 通讯员 黄高）海南控股旗下海南天能电力有限公司 （以下简称天能电力 ...

7月17日，和讯投顾刘伟奇对A股进行收评。当天A股表现不错，成交量重回15100上方，平均股价上 涨，创业板继续大涨，看似已打开上升空间，但刘伟奇认为不一定能直接刷新前高3555.22点。从大方 向看，他坚定认为当前处于三浪主升的牛市行情，但短线存在不确定性，需注意板块节奏。 从盘面看，银行板块已连续下跌数日，若明天启动，指数可能直接上行，但目前看不出指数有大调整迹 象，不过马上突破的概率也不大，除非银行、券商或低位半导体芯片板块发力。近期走强的CPU、光通 讯光模块等板块，预计明天或后天进入整理的概率较大。而创新药、医药医疗方向近期表现强势，但持 续性存疑。 板块轮动方面，前段时间光伏因反内卷走势较好，近期部分电池、新能源、汽车零部件等板块也有走强 迹象。刘伟奇判断指数可能不会大幅上涨，但会保持轮动，短线走势存在不确定性。目前60分钟高点出 现后已运行18个周期，可能还缺6个周期短线调整结束。不过，当前盘面机会较多，需保持一定仓位， 以防指数向上加速导致被动。 分析各指数情况，科创板50指数本次涨幅较小，不过形态已修复好，若明天能向上加速，则板块有效轮 动，但轮动不代表上证指数会持续走强。实际上，上证指数并 ...

近日，多家光伏企业集中披露业绩预告。从已公布的情况来看，行业上半年业绩分化态势明显。据 Wind数据，光伏板块38家发布中期业绩预告的上市公司中，15家实现盈利，23家处于亏损状态。 值得注意的是，尽管光伏企业整体仍面临困境，但有9家企业通过拓展海外市场、调整经营战略等方 式，实现了同比减亏，光伏周期的变化或已悄然发生。 BC组件产销两旺 另外，据公告披露，爱旭股份不断提升运营效率，产品成本、期间费用持续下降、存货跌价损失大幅改 善，2025年上半年经营业绩较去年同期实现了较大幅度增长。 从两家企业的回应来看，业绩改善的原因颇为相似，一是BC组件卖得好，二是成本费用降低，减值下 降。 自去年以来，BC组件的市场认可度不断提升。隆基绿能指出，高品质BC组件持续供不应求。2024年， 公司BC产品出货量超17GW，预计到2025年底，HPBC 2.0电池、组件产能将分别达到50GW。 今年，隆基绿能BC2.0量产线已全线贯通，电池良率达97%，产品已在中国、欧洲、东非、亚太、拉美 等全球市场规模化签单出货。据其公司董事长钟宝申透露，"6月份，隆基绿能的BC二代产品单月生产 2GW，预计9月份可实现单月生产3GW， ...

Group 1 - Chinese assets are experiencing a resurgence, with NIO and Li Auto rising nearly 7% as foreign investment increases in A-shares [2] - The Invesco Global Sovereign Asset Management Research indicates a noticeable recovery in interest from international investment institutions towards the Chinese market, managing approximately $27 trillion in assets [2] - Several foreign institutions express optimism about Chinese assets due to the stable economic performance, policy benefits, and improved corporate earnings outlook [2] Group 2 - The U.S. House of Representatives has advanced cryptocurrency legislation, supported by President Trump, which has led to significant stock price increases for companies in the crypto sector [3] - Blue Ocean Interactive surged over 45% after announcing the establishment of LK Crypto, focusing on mainstream crypto asset management and RWA [3] - Hong Kong is actively developing stablecoin products, creating a dual regulatory framework that connects the U.S. dollar stablecoin with the mainland [3] Group 3 - The Hong Kong IPO market is witnessing a surge, with a significant increase in financing amounts, reflecting global capital's confidence in China's industrial upgrade and consumption potential [7] - On July 9, the Hong Kong Stock Exchange saw five companies queueing for listing in a single day, raising over 10 billion HKD [7] Group 4 - The domestic consumption and investment policies are being emphasized by the Chinese government to strengthen the domestic circulation [5][6] - Analysts highlight the urgency and necessity of promoting consumption as a core strategy for economic growth [6] Group 5 - The A-share market has seen an increase in financing balance for eight consecutive days, totaling an increase of 44.038 billion CNY, indicating positive market sentiment [10] - Analysts suggest that the current macro environment and market risk appetite signal potential for further market growth [10] Group 6 - The number of private equity MOM products registered this year has reached a new high, with 43 products registered by July 15, surpassing the total for the past nine years [14] - This trend indicates a strong interest in the MOM fund model, which allows for diversified asset management [14] Group 7 - The beverage brand Wahaha is facing a decline in sales following a family dispute involving its chairman, which has raised concerns among distributors [16] - The internal family conflict could potentially disrupt the competitive landscape of the Chinese beverage industry [16] Group 8 - The domestic electric vehicle market is seeing significant growth, with L2-level assisted driving penetration exceeding 50% [18] - The heavy truck sales in the first half of the year have increased by approximately 7%, with new energy heavy trucks being a major highlight [18] Group 9 - The stock market is experiencing fluctuations, with the Shanghai Composite Index slightly declining by 0.03% to 3503.78 points [19] - The Hong Kong market is also showing mixed performance, with the Hang Seng Index and the Hang Seng Tech Index experiencing slight declines and gains, respectively [19] Group 10 - The U.S. stock market has seen gains driven by positive economic data and corporate earnings reports, with the S&P 500 rising by 0.45% [20] - Approximately 88% of S&P 500 companies that have reported earnings exceeded analyst expectations, boosting investor confidence [20] Group 11 - Several foreign investment banks have expressed positive views on the Chinese market, with Citigroup raising its ratings for Chinese and Korean markets to "overweight" [21] - Citigroup projects the Hang Seng Index to reach 25,000 points by the end of the year and the CSI 300 Index to reach 4,200 points [21] Group 12 - The stock market's investment logic is shifting towards cash flow analysis in a low-interest-rate environment, with a focus on high-dividend and strong cash flow companies [22] - Analysts are optimistic about sectors such as automotive, electronics, and traditional high-growth areas like AI and pharmaceuticals [22]

Group 1 - The Dalian Commodity Exchange announced adjustments to trading fees for industrial silicon and polysilicon futures contracts, effective from July 21, 2025. The trading fee for industrial silicon futures SI2509 will be set at 0.01% of the transaction amount, while polysilicon futures PS2508 and PS2509 will have fees of 0.02% and 0.015% respectively for regular trades, and the same rates for intraday closing trades [1] Group 2 - Recent data from the China Nonferrous Metals Industry Association indicates a significant increase in silicon wafer prices, with N-type G10L single crystal wafers averaging 1.05 yuan per piece (up 22.09% week-on-week), N-type G12R at 1.15 yuan (up 15.00%), and N-type G12 at 1.35 yuan (up 13.45%). This price increase is attributed to rising silicon material prices and improved supply-demand dynamics [2] - The photovoltaic industry is facing challenges in the first half of 2025, with supply-demand mismatches leading to price declines and significant operational pressures on most companies in the supply chain. Following the end of the "531" installation rush, demand is expected to weaken in the second half of the year, putting further pressure on prices across the industry [2] - The Central Financial Committee's sixth meeting highlighted the issue of "disorderly competition" and called for accelerated exit of backward production capacity, promoting high-quality development in the industry. The Ministry of Industry and Information Technology emphasized the need to enhance product quality and improve industrial structure efficiency during a meeting with key manufacturing enterprises [2] Group 3 - Dongwu Securities forecasts that global photovoltaic installations will reach 610 GW in 2025, a year-on-year increase of 13%. However, due to a slowdown in growth following the installation rush in China, overseas emerging markets are expected to contribute the majority of the incremental growth. Supply-side policies are guiding industry self-discipline, and anti-involution measures may drive prices upward. The report recommends focusing on high-growth sectors, including leading silicon material companies, component leaders with strong channel advantages, and new technology leaders in auxiliary materials [3] Group 4 - Hong Kong stocks related to the silicon material segment of the photovoltaic industry include GCL-Poly Energy (03800) and Xinte Energy (01799). Stocks related to photovoltaic glass include Fuyao Glass (06865), Kaisa New Energy (01108), Rainbow New Energy (00438), and Xinyi Solar (00968) [4]

商报讯（记者 苗露）最近一个月，A股"反内卷"主题行情爆火，钢铁、光伏、建材等板块全面爆发。数 据显示，6月20日至7月15日的18个交易日内，申万一级行业指数中的钢铁、建筑材料、电力设备等行业 涨幅均超过8%。 机构认为，"反内卷"成为当前热议的主题，十年前供给收缩带来超额利润的场景有望再一次重演。随 着"反内卷"扩散至各行各业，"反内卷"主题有望持续演绎，成为接下来一段时间的主线。其中，光伏、 汽车、钢铁等行业备受关注，二级市场表现也趋于活跃。 "反内卷"行情启动 光伏产业链重新站回C位 今年7月初，中央财经委第六次会议强调，纵深推进全国统一大市场建设，要聚焦重点难点，依法依规 治理企业低价无序竞争，引导企业提升产品品质，推动落后产能有序退出。 此后，A股市场掀起一股"反内卷"行情。最具代表性的是，时隔4年，光伏产业链重新站到市场C位。据 统计，近一个月（6月20日至7月15日），光伏设备指数已上涨15.55%。据同花顺（300033）数据，昨 日光伏概念板块依旧收涨0.82%，近一月涨幅达4.23%，成分股中琏升科技（300051）、皇氏集团 （002329）、亿晶光电（600537）等股涨停。 "这一 ...

TDI价格走势图 数据来源：百川盈孚 环氧氯丙烷价格走势图 数据来源：百川盈孚 郭晨凯 制图 编者按 最近陆续有多种化工品及工业原材料涨价。这些产品价格回升背后，是供需关系的逐步改善？是宏观刺 激政策的逐步见效？还是企业家信心增强的表现？或许，兼而有之。春江水暖"价"先知。涨价，是经济 强复苏中最灵敏的脉动信号。为此，上海证券报集中推出《市场探"涨"》报道，意在揭示这一系列价格 变化背后的市场活力与商业逻辑变迁。透过"涨"声，倾听复苏脚步；在潮起潮落之间，探见未来。 硅料价格上行 硅片有望再涨 ◎记者 王玉晴 本周，光伏原材料硅料价格继续强势上涨，并迅速带动下游硅片价格大涨。据中国有色金属工业协会硅 业分会（简称"硅业分会"）7月16日、17日发布的数据，本周多晶硅N型复投料成交价格区间为4.0万元 —4.9万元/吨，成交均价为4.17万元/吨，周环比上涨12.4%；N型颗粒硅成交价格区间为4.0万元—4.5万 元/吨，成交均价为4.10万元/吨，周环比上涨15.2%。硅片价格在硅料提价及供需关系改善下大涨。其 中，N型G10L单晶硅片本周成交均价环比跳涨22.09%。 上海证券报记者注意到，硅业分会7月17 ...

这几天A股玩的就是心跳——上午3500点摇摇欲坠，散户们吓得差点把键盘敲穿；下午神秘资金突然出 手，K线图像坐了窜天猴，硬生生给拽回来了。连续4天了，3500点这根线快被盘出包浆，有人说这是 慢牛起点，有人骂这是"乌龟牛"爬不动，更扎心的是：指数稳如老狗，你账户是不是还绿如苔藓？别 急，今晚国常会放大招，"扩内需""反内卷"两把火直接烧向A股，这次真能让散户喝口汤吗？ 一、3500点的"护盘玄学"：神秘资金在控盘，但这不是牛市，是"搭台"等你唱戏 先说3500点这事儿。刀锋大佬说"站稳3500就是大牛市"，历史上才3次，现在是第4次。听着挺激动，可 散户心里犯嘀咕：上次3500点我亏2万，这次3500点我亏3万，这"牛市"怕不是来收我智商税的？ 真相是：3500点不是"牛市终点"，是"戏台搭台"的起点。你看这几天，银行股跌成狗，指数却没崩—— 以前护盘靠"中特估"大哥，现在神秘资金学聪明了，不硬拉银行了，改玩"雨露均沾"：今天拉点AI，明 天拽下消费，后天再撬撬新能源，表面看指数晃晃悠悠，实则是在"搭台子"。搭啥台？等题材"唱 戏"呢！ 为啥要搭台？因为"银行落，万物生"这话真不是瞎掰。前几个月银行股天天涨， ...