20 August 2025 China Solar Equities Anti-Involution II: A clearer message China This report must be read with the disclosures and the analyst certifications in the Disclosure appendix, and with the Disclaimer, which forms part of it. Energy Equipment & Services Daniel Yang* A clearer message: On 19 August, the Ministry of Industry and Information Technology (MIIT) kicked off a new series of meetings with the solar industry on the "Anti Involution" campaign. After the first day, official guidance has been re ...