According to a research report published by J.P. Morgan Chase, China's photovoltaic sector has fallen by an average of about 30% from the beginning of the year, and the valuation of some shares is close to historic lows. Currently, views on the industry are becoming selective and optimistic. It is expected that PV demand will recover in the second half of the year due to seasonal factors. Coupled with production discontinuation arrangements, the supply and demand prospects for photovoltaic glass are expected to improve. The bank upgraded the ratings of Xinyi Solar and Follett Glass from “neutral” to “increased”, hoping that if the industry is integrated, Xinyi Solar and Follett Glass are expected to gain more market share; at the same time, they maintain GCL Technology's “increase” rating.

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