The Zhitong Finance App learned that PV stocks continued to rebound. As of press release, Junda shares (02865) rose 14.99% to HK$13.73; Xinyi Solar (00968) rose 7.06% to HK$2.2; Follett Glass (06865) rose 6.97% to HK$6.065; and GCL Technology (03800) rose 5.51% to HK$0.67.

According to the news, the US midterm elections have basically come to an end, and the Democratic Party is expected to control both houses of the US Congress. The market generally believes that the Democratic Party's rise to power has a positive drive for the new energy industry, and that the Democratic Party's advantage in congressional and local elections will greatly consolidate and continue green energy subsidies and policy support in the Inflation Reduction Act (IRA).

According to reports, previously, the market worried that the Republican Party would cut or even abolish the IRA clean energy tax credit. Guojin Securities believes that under the IRA framework, tax incentives for industries such as photovoltaics, energy storage, wind power, and SOFC are expected to remain complete, medium- and long-term capital expenditure expectations for green power operators are consolidated, and US new energy installation expectations are expected to usher in an upgrade.

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