HK Stock Market Move | XINTE ENERGY (01799) is now up more than 4%. The leading silicon material company announced a reduction in production. Polysilicon output in January may decrease by 5% month-on-month.

Xinte Energy (01799) is now up more than 4%, as of the press release, it is up 3.66% at HK$7.37, with a transaction amount of HK$117.995 million. On the news front, according to official news from Xinjiang Daqo New Energy and Tongwei Co., Ltd on December 24, the two companies have gradually started to reduce production of high-purity polycrystalline silicon. The Silicon Branch of China Nonferrous Metals Industry Association pointed out that looking forward to the market supply situation in January 2025, it is expected that companies will continue to maintain low operating rates, with a certain degree of decrease in monthly production. The output of polycrystalline silicon in January is expected to be below 100,000 tons, a decrease of about 5% compared to the previous month. Huatai released a research report stating that Tongwei Co., Ltd and Xinjiang Daqo New Energy actively responded to CPIA's call on December 24 and announced the start of partial polycrystalline silicon production line reduction and maintenance. Leading Silicon material companies reducing production signals positively, as the self-discipline quota system may be implemented at the beginning of January, prices in the industry chain are expected to rise.