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Hong Kong stock concept tracking | The Silicon Industry Branch predicts that the price of silicon wafers in September is expected to exceed expectations, and funds may flow into the photovoltaic sector. (Attached to conceptual stocks)
According to data from the Ministry of Industry and Information Technology, in the first half of 2024, the main links of China's photovoltaic industry chain saw a high proportion of growth in production.
Hong Kong stocks fluctuate | Xinte Energy (01799) continues to rise by over 3%, polycrystalline silicon prices rise, and the listing of futures is expected to drive silicon material demand.
Xinte Energy (01799) rebounded for two consecutive days, rising more than 3% today. As of press time, it is up 3.42% at HKD 7.57, with a turnover of HKD 7.1216 million.
Hong Kong stocks fluctuate | Flat Glass (06865) rose more than 10%, leading the photovoltaic stocks, and the silicon material prices may stabilize and rebound. The industry's overcapacity is expected to accelerate.
As PV stocks rise, as of press time, Flat Glass (06865) is up 10.39%, reporting HKD 12.36; GCL Tech (03800) is up 9.71%, reporting HKD 1.13; Xinyi Solar (00968) is up 3.71%, reporting HKD 3.63.
Hong Kong stock market fluctuation | Xinyi Solar (00968) fell nearly 6%, leading the decline of photovoltaic stocks. It will still take time to completely eliminate the backward production capacity. Institutions said that Q2 has already reached the bottom
Photovoltaic stocks continue recent declines, as of press time, Flat Glass (06865) fell 5.48% to HKD 10.7; Xinyi Solar (00968) fell 5.51% to HKD 3.43; Xinyi Glass (00868) fell 3.19% to HKD 7.88; Xinte Energy (01799) fell 1.49% to HKD 7.26.
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[Brokerage Focus] Haitong International reduces target price of Xinte Energy (01799) by 28%, pointing out that the situation of industry oversupply still exists.
Haitong International's research report stated that xinte energy(01799) achieved revenue of 30.75 billion yuan in 2023, a decrease of 16.5% year-on-year, and a net income attributable to the parent of 4.35 billion yuan, a decrease of 67.4% year-on-year. In 2023, the company's comprehensive gross margin was 33.45%, a decrease of 21.84pct year-on-year, mainly due to the sharp decline in polysilicon prices. The Bank continues to point out that considering the oversupply situation in the industry, the low silicon material prices will continue to affect the company's profit level. The Bank predicts the company's net income attributable to the parent will be 17.03 (-70 in 2024-2026.
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