The Zhitong Finance App learned that PV stocks fell again. As of press release, Junda shares (02865) fell 9.42% to HK$13.37; Kaisheng New Energy (01108) fell 8.96% to HK$1.83; Xinyi Solar (00968) fell 4.15% to HK$1.965; Follett Glass (06865) fell 2.80% to HK$5.205.

According to the news, TrendForce published an article stating that in the face of insufficient follow-up of new demand, the downward pressure on prices in the PV industry chain is gradually showing. The supply of polysilicon and silicon wafers is still relatively loose, with a slight excess compared to downstream demand; photovoltaic cells and photovoltaic modules have not changed much recently, and the overall trading sentiment is lackluster, and the pattern continues to be weak and stable.

Furthermore, the Democratic Party's victory in the US midterm elections triggered optimistic expectations and sentiment about new energy sources in the market. Ping An Securities pointed out that judging from recent practice, whether during the Biden administration or the Trump administration, the Chinese photovoltaic industry faced obvious trade protection policy effects in the US market. We judge that changes at the US government level have limited actual benefits for the Chinese photovoltaic industry.

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