Photovoltaic continues high boom, leading track stocks rebound, photovoltaic 50ETF (516880) rose

On September 7, the photovoltaic sector continued to rise. Diren laser leaders, Haiyou New Materials and Kesta have risen, and the photovoltaic 50ETF (516880) has rebounded for three consecutive days since last week. The current turnover has exceeded 30 million.

Zhongtai Securities said that the development of the development of the photovoltaic industry is the demand. Photovoltaic projects have investment attributes and have high demand elasticity. From the perspective of the supply of industrial chain, polysilicon supply in the fourth quarter of this year is expected to volume. The price of upstream raw materials is clear. The prosperity will continue; the market concerns of the component link competition will deteriorate, and there will be price wars in the future. We believe that there is no need to worry too much: 1) Photovoltaic is a high -growth market. All links of the industrial chain such as silicon materials, silicon wafers, batteries, components and even even even There are more new entrants in the auxiliary materials. The demand growth is enough to accommodate the sufficient conditions of the new entry. In this case, the probability of the price war is low; 2) photovoltaic products are a monopoly competitive market. In addition to low prices, they There are also barriers such as channels, brands, after -sales, and technology. The short -term low -cost strategy is difficult to break these barriers. 3) Integrated competition will introduce new battery technology with higher catalytic conversion efficiency and lower cost, promote the entire industrial chain to reduce efficiency, and then enter the positive cycle of demand growth.

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