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Breaking the "involutionary" competition! The two major photovoltaic leaders announce "production reduction and control of output."
Tongwei Co.,Ltd's subsidiary Yongxiang Co. and Daqo Energy have a total production capacity of over 1.2 million tons. Analysts expect that this production cut will reach at least 0.8 million tons, leading to a significant decline in silicon material output from December to January. Despite the production cut being initiated, the current Industry still faces considerable inventory pressure.
The photovoltaic Industry is currently undergoing a "de-involution"! Tongwei Co.,Ltd and Daqo Energy have both announced production cuts and maintenance.
① Both Tongwei Co.,Ltd and Daqo Energy are signatories of the photovoltaic industry self-discipline agreement. According to the self-discipline agreement, photovoltaic companies will begin to manage production capacity starting next month (January 2025). ② Analysts believe that adjusting the overall industry capacity utilization rate to the Range of 50%-60% can basically match the demand for polysilicon in 2025, preliminarily achieving a supply-demand balance.
XINYI SOLAR (00968.HK): The presentation currency of the audited consolidated financial statements will change from Hong Kong dollars to Renminbi.
On December 24, Gelonghui reported that XINYI SOLAR (00968.HK) announced that the presentation currency of the group's audited consolidated financial statements will change from Hong Kong dollars to Renminbi, effective for the year ending December 31, 2024. This change has been approved by the Board of Directors following the recommendations of the audit committee. The change in presentation currency aims to reflect that most of the business trades engaged by the group are settled in Renminbi, and that the majority of the group's business and Assets are located in mainland China. This change has no significant impact on the group's financial position.
Xinyi Solar Aligns Financial Reporting With Chinese Market
Xinyi Solar Holdings Limited's (HKG:968) Top Holders Are Insiders and They Are Likely Disappointed by the Recent 7.1% Drop
Xinyi Solar Secures Marine Transport Services Deal
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933199333 : I still lose abit. But easily become profitable