Recently, domestic foreign trade and industrial policies have ushered in important adjustments. Among them, export tax rebates for photovoltaic products have been completely cancelled, and the export tax rebate rate for power batteries has been reduced from 9% to 6%. It is also clear that it will be completely abolished in 2027.
The implementation of this policy was like a blockbuster, directly changing the export cost structure of the photovoltaic and new energy battery industries, causing an uproar in the industrial chain and capital market.
This tax rebate adjustment is essentially an important signal for the country to promote the transformation of the industry from scale expansion to high-quality development.
In the past, companies relied on tax rebate subsidies to reduce export costs and thus seize the international market.
However, this model will now gradually disappear from the stage of history.
Companies are forced to turn to technology upgrades, cost control and brand premiums, which in the long run will help eliminate low-end production capacity and enhance the global competitiveness of the industry.
But in the short term, export-oriented companies will directly face pressure from rising costs, and profit margins will be further compressed.
Take the photovoltaic industry as an example. It is highly dependent on overseas markets, with Europe, Southeast Asia, Latin America and other regions being the main export destinations.
After the tax rebate is cancelled, the competitiveness of overseas product quotations will weaken, and some small and medium-sized manufacturers may face the pressure of losing orders and declining gross profit margins.
Some small photovoltaic companies may be gradually eliminated in market competition because they cannot bear the increase in costs.
Power batteries also face similar challenges.
In the context of increasingly fierce global competition for new energy vehicles, the reduction in tax rebate rates has directly increased export costs, which has had an impact on the pricing of cooperation between car companies and battery companies and the pace of overseas deployment.
Car companies may reconsider their cooperative relationships with battery companies, and battery companies also need to re-plan their overseas market layout.
Affected by policy news, the A-share photovoltaic, energy storage and power battery sectors have experienced significant short-term adjustments, and capital risk aversion has increased.
Investors began to treat investments in these sectors with caution, causing stock price fluctuations.
However, from a long-term perspective, leading companies with technical barriers, complete overseas production capacity layout, and strong cost control capabilities can still absorb the pressure through scale effects and supply chain optimization.
These leading companies have advanced technologies and complete industrial chains and can maintain strong competitiveness despite rising costs.
Even after the industry is cleared, they can further increase their market share.
In general, this policy adjustment is not only a short-term pressure, but also an opportunity for industry upgrading.
In the future, the photovoltaic and battery sectors will show obvious differentiation, and companies that blindly expand will be cleared out at an accelerated pace, while leaders with true core competitiveness are expected to transcend the cycle and lead the industry to a healthier and sustainable development path.
Enterprises need to actively respond to policy adjustments, increase investment in technology research and development, and enhance their core competitiveness in order to remain invincible in market competition.
