From December 4 to 6, the 2024 Photovoltaic Industry Annual Conference was held in Yibin, Sichuan. Under the organization of the China Photovoltaic Industry Association, a number of photovoltaic industry chain companies formally signed a self-discipline convention at the conference, and the subsequent signatories will begin to control production capacity. Industry insiders believe that the current photovoltaic industry is facing many challenges. If the self-discipline convention can be effectively implemented, it will be of great significance to the healthy development of the photovoltaic industry.

From 2024, the prices of products in the photovoltaic industry chain have dropped significantly. According to data released by the China Photovoltaic Industry Association, from January to October this year, the prices of polysilicon, silicon wafers, battery cells and modules fell by more than 35%, 45% and 25% year-on-year respectively. A reporter from Securities Daily learned from a photovoltaic industry practitioner that the company he worked for participated in the signing of the above convention. The effectiveness of the above-mentioned industry self-discipline convention has also attracted the attention of industry insiders. Lin Boqiang, dean of the China Energy Policy Research Institute of Xiamen University, told the Securities Daily reporter that the photovoltaic industry is currently facing certain challenges. If the self-discipline convention can be effectively implemented, it will undoubtedly be of great significance. On the contrary, the price of photovoltaic modules may fall further. However, considering that the price of modules has already experienced a significant decline, there is limited room for future declines.

"The future development of the photovoltaic industry requires a combination of 'self-discipline' and 'external discipline'. As a self-restraint mechanism within the industry, the self-discipline convention has limited binding force and enforcement effect. It is necessary to strengthen the constraints and supervision of 'external discipline' on the basis of 'self-discipline' to ensure that the competition behavior between enterprises complies with the requirements of laws and regulations and the principle of fair competition." Bai Wenxi, vice chairman of the China Enterprise Capital Alliance, said in an interview with a reporter from Securities Daily.

The current price of photovoltaic modules is at the bottom and may stabilize in the future. Overall, the competitive advantage and low-cost advantage of China's photovoltaic industry are still there. At present, it is in the process of bottoming out, and the possibility of continued decline is not high. The upward space and trend in the future have been formed. In the next two years, with the emergence of new technologies and the elimination of backward production capacity, the future development prospects of the photovoltaic industry are still promising.

For us, Multifit, we need to seize this opportunity and take advantage of the continuous expansion of the photovoltaic market to introduce our photovoltaic equipment and photovoltaic cleaning equipment to our potential customers, so that they can familiarize themselves with the performance and quality of our products, and ultimately place successful orders. And actively participate in domestic and international exhibitions, for example, at this year's 136th Canton Fair, we sent a luxurious lineup to participate in the exhibition. At this Canton Fair, we fully demonstrate our latest products to these potential customers and seize these opportunities that allow our end customers to experience our products for the first time.