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[Brokerage Focus] Goldman Sachs: China's cecep solar energy industry faces challenges due to the reduction of export tax rebates.
Jinwu Financial News | Goldman Sachs' latest research report shows that the solar energy industry in China is facing adjustments to its export tax rebate policy. Starting from December 1, 2024, the Ministry of Finance announced that the export rebate rate for solar wafers, batteries, and modules will be reduced from 13% to 9%. This policy change is not limited to solar energy products but also covers other products such as copper and aluminum. According to statistics, in the first three quarters of 2024, China's solar module export volume increased by 18% year-on-year, reaching 186.77 GW, but the total export value decreased by 30% year-on-year, dropping to 22.76 billion USD, mainly due to a price decline of over 40%.
Hong Kong stock market anomaly | Most photovoltaic stocks are rising. The expected reduction in export tax rebates is bullish for the long-term development of the photovoltaic industry. The industry turning point signal is emerging.
Most photovoltaic stocks have risen. As of the time of writing, flat glass (06865) is up 3.99%, trading at 13.04 Hong Kong dollars; xinyi solar (00968) is up 3.77%, trading at 3.3 Hong Kong dollars; xinte energy (01799) is up 2.64%, trading at 8.54 Hong Kong dollars.
These 4 Measures Indicate That Xinyi Solar Holdings (HKG:968) Is Using Debt Reasonably Well
A-shares and Hong Kong stocks are up, with the gem rising more than 1%, led by photovoltaics, chips, and non-ferrous metals.
PV concept stocks in A-shares rose at the beginning of the market, Suzhou Good-Ark Electronics hit the limit up, Sungrow Power Supply, Deli Technology rose more than 6%, Ginlong Technologies, Suzhou Maxwell Technologies, and Orise Technology quickly followed the upward trend.
Brokerage Morning Meeting Highlights: The historical bottom of real estate stock valuation may have been established.
At today's brokerage morning meeting, China Securities Co.,Ltd. proposed supply-side optimization, suggesting to focus on industries such as steel, photovoltaic, cement, coal, and rare earths; htsc stated that domestic sales of household appliances are improving with stable exports, focusing on two major themes for the year 2025; China International Capital Corporation believes that the historical bottom of real estate stock valuation may have been established.
Express News | Xinyi Solar : HSBC Cuts Target Price to HK$3.4 From HK$3.5
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