Huatai Bairui Fund's Li Muyang: "Anti-inner circulation" will promote the cleanup of the photovoltaic industry.

On August 23rd, the "2025 Snowball Index Fund Leaders Summit" was held in Shanghai. Li Muyang, Assistant Director of the Index Investment Department and Fund Manager at Huatai Bairui Fund, stated at the meeting that the photovoltaic sector has already reached its bottom. Although the industry still faces fierce competition and policy games, the top-level design of "anti-insularity" will promote industry consolidation. Li Muyang believes that photovoltaic ETFs can quickly reflect the industry's beta properties when the market starts, providing investors with direct allocation tools. He emphasized that although the photovoltaic industry is volatile and cyclical, investors can often achieve excess returns by participating at low points.