According to Daiwa's report, as of June 20, the average selling price of processed 3.2mm and 2.0mm photovoltaic (PV) glass products was reduced from RMB24.5-25 per square meter (as of June 13) to RMB24.5 per square meter and from RMB16-16.5 to RMB15.5-16 per square meter respectively. The average prices of transparent EVA and white EVA for photovoltaic film are maintained.

The bank holds a 'neutral' view on china's solar energy industry. Recently, the rating of Flat Glass Group (06865.HK) has been downgraded from 'buy' to 'outperform the market', and the ratings of Flat Glass A-shares (601865.SH) and Xinyi Solar (00968.HK) have also been downgraded to 'hold'.