Starting April 2026, VAT Refund on Certain Photovoltaic Products to Be Canceled; Huamin Stock and Yicheng New Energy Rise Over 12%

(Source: Caixin)

In the short term, it may boost domestic photovoltaic product shipments; in the long term, it could promote the clearing of outdated capacity and optimize the capacity structure.

On March 17, photovoltaic equipment stocks surged early in the trading session. As of the time of writing, the constituent stocks Huamin Shares (300345.SZ) and Yicheng New Energy (300080.SZ) rose over 12%, GCL System Integration (002506.SZ) hit the daily limit, and companies like Shicong Energy (688429.SH), Foster (603806.SH), Cly Group (300393.SZ), and Autowell (688516.SH) also followed the upward trend.

On the news front, the prototype space supercomputing system was officially released, successfully completing full-process joint debugging and verification with the space computing power system and perovskite energy system. This event catalyzed the concept of space photovoltaics, opening a new growth curve and creating market expectations worth hundreds of billions, attracting market capital attention.

Additionally, recently, Xu Xin, founder of Today Capital, invested in a robot company capable of doing “dirty and tiring work” for others, with scenarios landing in the photovoltaic installation field. It is reported that Huzhou Litian Intelligent Technology Co., Ltd. (referred to as “Litian Intelligent”) announced the completion of a pre-Series B financing of over 100 million yuan. This round of funding was jointly invested by Today Capital, Yaotu Capital, and Changshi Capital. The funds will accelerate the company’s R&D of key technologies for automated photovoltaic module installation, global industrial layout, and market expansion.

Aijian Securities stated that some value-added tax export rebates for products including photovoltaics will be canceled starting April 2026. In the short term, this may increase domestic photovoltaic product shipments; in the long term, it could promote the clearing of outdated capacity and optimize the capacity structure. On January 30, 2026, the National Development and Reform Commission and the National Energy Administration jointly issued the “Notice on Improving the Capacity Electricity Price Mechanism,” which explicitly established a new independent capacity electricity price mechanism for the grid side at the national level for the first time. This aims to accelerate the fair entry of pumped storage and new energy storage into the market, with a capacity price mechanism based on reliable capacity, providing stable revenue guarantees for new energy storage.

Massive information, precise analysis, all on Sina Finance APP.