According to Zhongtong Finance APP, Xinte Energy (01799) fell nearly 5%. As of press time, it fell by 4.74%, to HKD 7.63, with a turnover of HKD 15.8145 million.
On the news front, Xinte Energy issued a profit warning and expects to record a net loss attributable to shareholders of the company of RMB 780 million to RMB 950 million for the six months ended June 30, 2024, which has not been audited. This compares to a net profit attributable to equity holders of the company of RMB 4.759 billion for the same period last year. During the reporting period, the company's polycrystalline silicon business released its production capacity fully, with sales increasing by more than 50% year-on-year, and the production cost of polycrystalline silicon decreased by approximately 30%. However, due to changes in market supply and demand, the average selling price of polycrystalline silicon has decreased significantly year-on-year.
According to the latest data from the Silicon Industry Branch, the lowest transaction price of single crystal dense materials hit a new low this year, falling to RMB 0.033 million/ton, with an average price of RMB 0.0343 million/ton, a decrease of 0.87% compared to the previous month. The average transaction prices of N-type rod silicon and granular silicon are RMB 0.04 million/ton and RMB 36,500/ton, respectively, holding steady month-on-month. At present, the price of silicon materials has already deviated from the logic of cost pricing, and all enterprises are in a loss-making state.