According to the Huatai Securities Research Report, on October 9, the National Energy Administration issued the “Administrative Measures on Distributed Photovoltaic Development and Construction”, which proposes detailed classification, abolition of new industrial and commercial Internet access, and ensuring that distributed photovoltaic projects achieve “observation and control” and distributed photovoltaic market-based transactions. Huatai Securities believes that the policy may adversely affect distributed demand in the short term, reduce the willingness to install large-scale industrial and commercial photovoltaics, and increase project costs; in the long term, it is expected to benefit distributed photovoltaic demand by raising the level of market-based photovoltaic power generation. Huatai Securities expects a high probability that electricity prices for existing power plants will not be affected; the probability of adopting market-based transactions for natural household photovoltaics is low; although this policy is short-term or bad for distributed demand, considering that some companies may choose to rush installation, it is expected that new domestic PV installations will or will not be affected this year, maintaining a flat or slight increase over the same period last year.

According to the Huatai Securities Research Report, on October 9, the National Energy Administration issued the “Administrative Measures on Distributed Photovoltaic Development and Construction”, which proposes detailed classification, abolition of new industrial and commercial Internet access, and ensuring that distributed photovoltaic projects achieve “observation and control” and distributed photovoltaic market-based transactions. Huatai Securities believes that the policy may adversely affect distributed demand in the short term, reduce the willingness to install large-scale industrial and commercial photovoltaics, and increase project costs; in the long term, it is expected to benefit distributed photovoltaic demand by raising the level of market-based photovoltaic power generation. Huatai Securities expects a high probability that electricity prices for existing power plants will not be affected; the probability of adopting market-based transactions for natural household photovoltaics is low; although this policy is short-term or bad for distributed demand, considering that some companies may choose to rush installation, it is expected that new domestic PV installations will or will not be affected this year, maintaining a flat or slight increase over the same period last year.