[PV ETF Funds Rise: PV Industry Chain May Usher in a New Round of Favorable Conditions] As of June 11, 2025, the CSI Photovoltaic Industry Index (931151) surged by 1.28%, with individual stocks of some PV enterprises also following suit. The PV ETF Fund (159863) rose by 0.93%, with the latest quote at 0.43 yuan. By implementing strategies such as industry self-regulation through production restrictions and accelerating the elimination of outdated capacity, the PV industry chain is gradually optimizing its supply-demand pattern. The PV industry, particularly top-tier enterprises, has also realized that "short-term profit-chasing and capacity hoarding are not viable strategies," and accelerating capacity exits and implementing "anti-cut-throat competition" have gradually become industry consensus. It is expected that the key window period for PV supply-side reform will be from the second half of this year to the first quarter of next year. Despite the overall valuation of the PV sector remaining at historically low levels, it will possess higher allocation space and investment value in the future, and the PV industry chain is expected to usher in a new round of favorable conditions.