Weekly: PV Sales Set To Rebound mom From July On Easing Of Chip Shortage

China’s PV wholesale shipment grew 3% yoy in 21-30 Jun 21, but dropped 15% yoy in Jun 21. China’s PV sales are expected to grow from Jul 21 on the easing of chip shortage. DFM and Geely already saw 4-5% mom sales rebound in Jul 21. Geely’s R&D acquisition enables it to tap the promising JV businesses of the parent company’s JVs. Dealers Zhongsheng and Yongda posted strong 1H21 figures. Maintain MARKET WEIGHT. Top picks: Zhongsheng, Yongda, Nexteer and CATL.