Central China Securities research report points out that layoffs, shutdown maintenance, and production stoppages have occurred one after another in the photovoltaic industry, and the industry's overcapacity reduction is in progress. The price of the photovoltaic industry chain is expected to hit bottom, but it will take time to completely eliminate outdated production capacity in the photovoltaic industry and achieve supply and demand balance and reversal. The valuation of the photovoltaic sector is at a historical low. In the short term, the photovoltaic sector has experienced overselling and rebounded, repeatedly hitting bottom. In the medium term, it is recommended to pay attention to segment-leading companies in photovoltaic glass, integrated component plants, polysilicon materials, calcium titanium ore battery equipment, and electronic silver paste.