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中金:若未來光伏行業預期修復,beta或有30%-50%級別的機會
中金錶示,光伏行業6月排產普遍下調10%左右,7月需求或仍較弱,8月關注機制電價交易情況,屆時IRR模型逐漸穩定、疊加傳統旺季帶來,需求有望修復。中期需求仍需觀察十五五規劃,長期看,我們認爲能源轉型背景下隨着配套的電力市場化、電網建設、終端電氣化等推進,需求有望進入下一個上行期。Beta層面,行業需求較弱但股價下行風險有限,若未來行業預期修復、beta或有30%-50%級別的機會;Alpha層面,建議關注具備功率差拉大的龍頭組件、銅漿等新技術、硅料等彈性環節的供給端政策等。
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