The analyst rating from CICC is based on the current challenges facing the PV glass market, including dull demand, increasing inventory days, and a significant drop in prices to RMB11.5 per square meter. This has led to the profitability of leading companies nearing breakeven, while others are incurring deeper losses. Despite these challenges, CICC anticipates that prices and costs will stabilize next year, with an estimated average price for 2.0mm PV glass projected to be between RMB13-13.5 per square meter. CICC's recommendation for XINYI SOLAR and FLAT GLASS reflects a cautious outlook, maintaining valuation and earnings forecasts unchanged amidst the current market conditions.
