HK Stock Market Move | Photovoltaic stocks rebound in the morning session, with the newly added photovoltaic installed capacity expected to exceed 250GW for the whole year. The photovoltaic industry association speaks out again.

Photovoltaic stocks rebounded in the morning session, as of press time, FLAT GLASS (06865) rose by 4.9% to HKD 11.56; XINYI SOLAR (00968) rose by 3.32% to HKD 3.11; XINTE ENERGY (01799) rose by 3.08% to HKD 7.69; GCL TECH (03800) rose by 2.68% to HKD 1.15. On the news front, according to the National Energy Administration, China added 206.30GW of photovoltaic installed capacity from January to November 2024, an increase of 26% year-on-year. In November, there was an additional 25.00GW of photovoltaic installed capacity, a 17% year-on-year increase and a 22% increase from the previous month. Looking ahead to the full year of 2024, with industry chain prices running at low levels and improvements in end installation costs, China's new photovoltaic installed capacity is expected to achieve high growth. In early December, CPIA raised its forecast for domestic new photovoltaic installed capacity in 2024 to 230-260GW. Huachuang Securities believes that with some centralized projects rushing to be installed by the end of the year, the total new photovoltaic installed capacity for the year is expected to exceed 250GW. In addition, on December 22nd, the China Photovoltaic Industry Association CPIA official WeChat account published an article commenting on the phenomenon of "ultra-low price" photovoltaic component bidding by GD Power Development's Xinjiang Bajaur Power Company. This comes after the association publicly raised four questions about the State Power investment project on the 18th. Soochow pointed out that the association has set a cost line of 0.69 yuan/W, with export tax rebates reduced to 9%, and component bidding prices have started to stabilize and rise; industry self-discipline has basically been implemented, and production restrictions are expected to help companies out of the internal competition dilemma, with further supply-side reform policies such as dual control of energy consumption and consumption in the future.