中国太阳能_追踪盈利拐点_政策驱动 7 月上游价格上涨，但需求疲软下交易平淡-China Solar_ Tracking profitability inflection_ Policy driven upstream price hike in July but muted transaction amid demand weakness

Our China Solar Profitability Tracker follows monthly supply/demand and inventory dynamics by sub-sector, and the spot prices/input costs implied cash GP & EBITDA margin trends for companies under our coverage. Key highlights in July MTD: China Solar: Tracking profitability inflection Policy driven upstream price hike in July but muted transaction amid demand weakness Sector view: We believe the anti-involution could imply higher prices and an earlier profitability inflection vs. GSe if well implemented. Ho ...