"在光伏产业链竞争不断加剧的背景下，隆基绿能在BC技术上的布局正在显现出其战略前瞻性。"万联 证券股份有限公司投资顾问屈放在接受《证券日报》记者采访时表示，随着近段时间相关部门和行业整 治"内卷式"竞争的不断深化，具有技术优势的企业有望率先走出周期。 2023年9月份，隆基绿能确定将BC电池技术作为未来核心路线，全力押注BC技术。事实上，隆基绿能 早在2017年就开始布局BC技术。截至去年年末，隆基绿能获得各类已授权专利3342项，其中BC电池组 件专利超400项。 "当行业还在大规模扩产TOPCon电池技术时，公司在技术十字路口果敢选择了跳出舒适区，以颠覆性技 术重塑竞争力，向旧产能发起'自我革命'。"上述负责人透露，公司BC产品进入市场后，市场回应积 极，高品质BC组件持续供不应求。 本报记者殷高峰 7月14日晚间，隆基绿能科技股份有限公司（以下简称"隆基绿能"）发布2025年半年度业绩预告，公司 预计2025年半年度归属于上市公司股东的净亏损为24亿元到28亿元，同比减亏24.43亿元到28.43亿元。 隆基绿能上半年减亏的核心因素是什么？"受光伏行业主要产品市场销售价格跌破成本线影响，公司经 营仍为亏 ...

Core Viewpoint - The Chinese photovoltaic (PV) industry is facing a critical supply-side reform, with expectations of production cuts and stricter policies to curb below-cost sales, aiming to improve industry profitability and stability [3][4][5]. Industry Summary - A significant decline was observed in the A-share market on June 19, with a total trading volume of 1.28 trillion yuan and over 4,600 stocks falling [1]. - The photovoltaic sector, particularly low-fee ETFs, experienced a downturn, with the leading ETF (516290) dropping by 1.49% [1][6]. - Major companies in the PV sector, such as 阳光电源 (Sungrow Power), 德业股份 (Deye), and 晶澳科技 (JA Solar), reported declines exceeding 3% in their stock prices [6]. Production and Policy Changes - The China Photovoltaic Industry Association held a meeting focusing on "production limits to maintain prices," indicating a projected reduction in operating rates by 10%-15% in Q3 [2][3]. - A third-party audit group will conduct comprehensive audits to identify evidence of below-cost sales, with various measures planned against non-compliant companies [2][3]. Technological Advancements - The industry is witnessing a push for supply-side reform, with leading companies advocating for market-driven consolidation and technological upgrades to phase out outdated capacities [4][5]. - New technologies, such as TOPCon and perovskite, are gaining attention, with several companies showcasing advancements in efficiency and production capabilities at the SNEC conference [5]. Market Outlook - The PV sector is expected to experience a fundamental recovery, with signs of a potential turning point in market sentiment as production cuts and technological advancements take effect [7]. - The low-fee photovoltaic ETF (516290) is highlighted as a favorable investment option, with management fees significantly lower than the market average [7].

Core Viewpoint - The 2025 SNEC Photovoltaic Exhibition in Shanghai showcased the resilience and innovation within the photovoltaic industry, despite current challenges, with a focus on technological advancements and collaborative development to drive cost reduction and efficiency improvements [1][6]. Group 1: Technological Innovations - Companies are leveraging various advanced technologies such as TOPCon, BC, and heterojunction technologies to enhance efficiency and reduce costs [2][3]. - Longi Green Energy introduced a 700W component based on HIBC technology, which is smaller in area by 0.4m² while achieving a power density increase of 34W/m² [2]. - JinkoSolar's Tiger Neo component is designed for high-temperature and high-irradiation areas, effectively reducing lifecycle costs through improved temperature coefficients and lower degradation rates [3]. Group 2: Differentiated Products - Manufacturers are launching differentiated products tailored to various application scenarios, such as Yingli's new N-type products designed for diverse environments including plateaus and deserts [4]. - The focus on lifecycle cost reduction is driving the development of next-generation technologies like tandem solar cells, which were showcased at the exhibition [5]. Group 3: Industry Challenges and Opportunities - The photovoltaic industry is currently facing supply-demand mismatches and is at a cyclical low, necessitating collective efforts for transformation [6]. - The integration of energy storage solutions is seen as crucial for addressing the intermittency of solar power and ensuring sustainable development [6][7]. Group 4: AI and Energy Storage Integration - The exhibition highlighted the importance of integrating AI with energy storage solutions to optimize renewable energy management and address power demand fluctuations [8]. - Companies like TBEA are developing modular energy storage systems that enhance safety and efficiency, significantly reducing installation and debugging times [7].