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BOCOM INTL: The impact of tariffs on photovoltaic manufacturing is limited, and high-dividend operators are relatively defensive.
For the Operation Sector, the bank prefers CHINA POWER (02380) and CHINA LONGYUAN (00916) with clear dividend policies. As for the Photovoltaic Sector, the bank expects that Chinese photovoltaic companies will actively respond to reduce the impact of tariffs, being Bullish on the leading Polysilicon company GCL TECH (03800) and the leading Photovoltaic Glass company XINYI SOLAR (00968).
Photovoltaic Power stocks rose against the market trend, GCL TECH (03800) increased by 3.85%. BOCOM INTL indicated that the USA's imposition of tariffs has a minimal impact on the Industry's production capacity.
Jingu Financial News | Photovoltaic Power stocks rise against the trend, IRICO NEWENERGY (00438) increased by 4.83%, COMTEC SOLAR (00712) increased by 4.55%, GCL TECH (03800) increased by 3.85%, XINYI SOLAR (00968) increased by 2.02%, FUYAO GLASS (03606) increased by 1.53%, FLAT GLASS (06865) increased by 1.18%, TRIUMPH NEW EN (01108) increased by 1.16%. In news, BOCOM INTL's Research Reports indicate that due to the USA previously imposing a 25% tariff on Chinese photovoltaic products under section 301, China has essentially stopped exporting to the USA.
GCL TECH (03800.HK): The trustee further purchased 30 million shares based on the stock reward plan.
On April 8th, GCL TECH (03800.HK) announced that on April 8, 2025, the trustee will further purchase 30 million shares from the market and hold them in trust for eligible persons according to the terms and conditions of the plan rules and the trust deed (both as amended), with an average purchase price of approximately HKD 0.74 per share.
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