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China Logs 15% Rise in Installed Power Generation in January-October
Investors Don't See Light At End Of Xinyi Solar Holdings Limited's (HKG:968) Tunnel And Push Stock Down 26%
Trending Industry Today: FLAT GLASS Leads Losses In Electrical Equipment Stocks
Hong Kong stocks in motion | Solar stocks fell in the morning as the industry's profitability remains under pressure. Institutions state that the policy shift has become clear.
Photovoltaic stocks fell in the morning trading, as of the time of publication, flat glass (06865) fell by 4.38%, trading at 12.24 Hong Kong dollars; xinyi solar (00968) fell 2.76%, trading at 3.17 Hong Kong dollars; xinyi glass (00868) fell 1.68%, trading at 8.19 Hong Kong dollars; xinte energy (01799) fell 1.45%, trading at 8.14 Hong Kong dollars.
[Brokerage Focus] Bocom Intl cuts xinyi solar (00968) target price by 1.2% Rating upgraded to buy.
JW Financial News | Bocom Intl research reports indicate that the price of photovoltaic glass has been continuously declining since May. Due to severe losses, the industry has been reducing production since July. Currently, supply and demand balance has been achieved. The bank expects that with continued production cuts and increased component production in the future, glass is expected to enter a destocking cycle, and price rebound is foreseeable. Under the pressure of losses, the industry has recently been calling for supply-side reform, with expectations that the government may introduce policies such as raising energy consumption standards to accelerate the clearance of photovoltaic glass supply and price recovery, benefiting companies with lower energy consumption as leading enterprises. The bank mentioned that due to the larger-than-expected decline in photovoltaic glass prices and lower-than-expected company output, the bank has revised down.
Bocom International Upgrades Xinyi Solar to Buy From Neutral, Price Target Is HK$4.04
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