Rumors triggered a sharp decline in the photovoltaic sector; the industry association urgently refuted the rumors and declared they will not stop until vicious competition is eliminated.

A rumor circulating online caused the photovoltaic sector to slump, prompting the China Photovoltaic Industry Association to issue an urgent clarification. The association’s executive secretary posted in his social circle: “We will not stop until we break free from vicious, self-destructive competition.” On November 12, A-share photovoltaic sector plunged, with the Photovoltaic 50 ETF dropping over 50% at one point during the session. By the market close, the Photovoltaic 50 ETF was down 3.85%. Among individual stocks, Canadian Solar at one point dropped over 17%, closing down 14.3%. Leading stocks LONGi Green Energy, Tongwei Co., and JA Solar all fell sharply. The direct trigger for the market decline was an online rumor claiming the planned stockpiling initiative in the photovoltaic industry had “fallen through,” and this rumor quickly spread through the market. In response, the China Photovoltaic Industry Association refuted the rumors, stating that all messages circulating online were false information. Liu Yiyang, Executive Secretary of the association, posted on his social circle, saying: “The photovoltaic industry will not stop until it breaks free from vicious, self-destructive competition.” Photovoltaic Industry Association’s Recent Clarification In the face of rumors, the China Photovoltaic Industry Association issued a statement on its official WeChat account, clearly declaring that the association and industry companies are working together and relevant efforts are steadily underway. The association emphasized in the statement: “All the hearsay circulating online is false information. Please recognize this carefully and make prudent decisions.” The statement also reiterated the association’s firm stance: “The association is determined to safeguard national and industry interests. We will fight to the end against those who attempt to profiteer by maliciously spreading rumors and shorting the photovoltaic industry.” According to Jiemian News, Liu Yiyang, Executive Secretary of the China Photovoltaic Industry Association, posted today in his social circle, urging everyone not to trust or spread rumors. Liu Yiyang stated, “We remember the requirements of the General Secretary, and under the strong guidance of the relevant ministries and commissions, we are working hard to promote self-discipline in the industry and the fight against harmful competition. We are making concerted efforts from both supply and demand sides to facilitate the orderly exit of outdated capacity through market-oriented and law-based approaches. I trust that, with the firm support of the central authorities and coordinated efforts of enterprises, these initiatives will succeed. The photovoltaic industry will not rest until it breaks free from vicious, self-destructive competition.” Meanwhile, Liu Yiyang addressed those spreading rumors, warning them not to underestimate policy determination. He said, “Fake news cannot become real. Whoever tries to stir up trouble and profit from fabrication and rumors will eventually face consequences.” Risk Warning and Disclaimer The market involves risks, and investments should be made cautiously. This article does not constitute personal investment advice, nor does it take into account the special investment objectives, financial situation, or needs of any specific user. Users should consider whether any opinions, views, or conclusions in this article are suitable for their particular situation. Investment decisions based on this content are at the user's own risk.