According to the Zhicheng Financial APP, photovoltaic stocks continued to fall recently. As of press time, Fuyao Glass (06865) fell by 3.93%, with a price of HKD 12.7; Xinyi Solar (00968) fell by 2.7%, with a price of HKD 4.32; Fuyao Glass (03606) fell by 1.16%, with a price of HKD 42.65; and Xinte Energy (01797) fell by 0.8%, with a price of HKD 8.71.

On the news front, Li Chuangjun, Director of the New and Renewable Energy Department of the National Energy Administration of China, stated at the "Promoting High-Quality Development" themed press conference held by the State Council Information Office on the 20th that the photovoltaic industry in China is fiercely competitive and that measures will be taken to guide the healthy development of the photovoltaic industry in various ways. Li Chuangjun said that the National Energy Administration would reasonably guide the upstream production capacity construction and release of photovoltaics to avoid the duplication of low-end production capacity construction.

According to a research report by Central China Securities, there is excess capacity in the photovoltaic manufacturing link, and the pressure on corporate financial statements caused by excessive competition in the industry, product homogenization, and significant price declines is evident. The industry has entered a winter period, and capacity clearance is underway. However, considering the industry’s adjustment time and the funding reserve situation in the previous round, it is expected to take some time to complete the adjustment.