Published: Nov 7, 2023 09:37
On the morning of November 7th, the Great Wall Guorui Securities Research Report pointed out that the photovoltaic industry is currently in a cyclical adjustment period, the industrial chain price is at a low level, and the battery chip link is continuously iterating technology. With the sharp drop in upstream silicon material prices, the gross profit margin of silicon material equipment enterprises is under pressure; however, the demand for silicon wafers is boosted by the drop in silicon material prices, resulting in a slight increase in the gross profit margin of silicon wafer equipment enterprises; eventually, the entire sector's profitability is slightly upward under pressure until the third quarter. In the future, with the stabilization of silicon material prices and the gradual release of downstream demand, the profitability of the equipment side may be improved; if the battery chip technology route is clear and cost reduction and efficiency improvement, the profitability of battery chip and component equipment companies may also gradually increase, it is recommended to focus on the leading enterprises in each link of the industrial chain.

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