According to Jibang New Energy Network, the overall revenue and performance of the photovoltaic industry chain both increased in the first three quarters of 2022. Currently, valuations are relatively low. Profits in the silicon sector in the main industrial chain increased sharply in the first three quarters. Except for silicon, the revenue and profit of the main industry chain increased, with the battery sector improving at an accelerated pace. Profits from inverters and auxiliary materials were divided in the first three quarters. Affected by the Russia-Ukraine conflict, demand in the European household market exceeded expectations, and the inverter sector benefited significantly. In addition to the inverter link, profits in the auxiliary materials sector were under pressure, and it is expected that the subsequent quarters will improve.