HK Stock Market Move | Photovoltaic stocks fell again in early trading, and the Photovoltaic Industry Association clarified the rumors related to polycrystalline silicon. Prices may experience a pullback after emotions cool down.

Photovoltaic stocks fell again in the morning, as of press time, XINTE ENERGY (01799) dropped 4.75% to HK$7.02; FLAT GLASS (06865) dropped 3.52% to HK$10.42; XINYI SOLAR (00968) dropped 3.75% to HK$3.08; XINYI GLASS (00868) dropped 3.75% to HK$8.22. On the news front, the China Photovoltaic Industry Association issued a clarification stating that recently, some self-media outlets have published news about the industry's anti-"involution", especially in the area of polycrystalline silicon. The association stated that "the relevant content is severely inconsistent with the actual situation. Please do not believe rumors or spread rumors." The association indicated that it will promote anti-"involution" work based on legal and market principles, striving to quickly move away from vicious internal competition. It encouraged everyone to rely on official information and thanked everyone for their support to the photovoltaic industry, acknowledging that there is still a long way to go. It is worth noting that the Photovoltaic Industry Association did not specify the details of the clarification. According to information obtained by Securities Times reporters from various sources within the industry, the clarification may be related to market rumors about the polycrystalline silicon industry engaging in large-scale storage and small-scale distribution. In addition, Liu Zhongying, a researcher at Jinrui Futures, stated that last week's polycrystalline silicon production reached 25,500 tons, an increase of 2,500 tons from the previous period. Downstream production remains low, and there are signs of weakening fundamentals in the polycrystalline silicon market, with price trends contradicting fundamentals. Despite the strong market sentiment and policy expectations, it is important to be cautious as future policies may not meet expectations, leading to a cooling of sentiment and a price correction.