Group 1 - The core viewpoint of the article highlights that the photovoltaic industry has become a representative sector against "involution," with initial success in price adjustments across the supply chain due to recent measures against selling below cost [1] - Zhongxin Securities reports that the silicon material sector is highly concentrated, with fewer companies, making it easier to achieve supply-side reforms, which may lead to industry consolidation and reduced output, positioning silicon materials favorably in future profit distribution [1] - The company has made significant progress in its photovoltaic business, successfully developing high-efficiency intrinsic heterojunction (HJT) solar cell technology using monocrystalline cast silicon wafers, and has entered into a joint venture agreement for HBC upgrade projects with partners [1] Group 2 - Huachuang Securities notes that at a recent seminar on the photovoltaic supply chain, it was reported that the comprehensive energy consumption of polysilicon has been continuously decreasing, with ongoing efforts to revise the energy consumption standards for polysilicon products [1] - The current energy consumption standards for polysilicon products are ≤7.5, 8.5, and 10.5 (kgce/kg) for levels 1, 2, and 3, respectively, with proposed revisions aiming for ≤5, 6, and 7.5 (kgce/kg) to facilitate the elimination of outdated production capacity [1]