HK Stock Market Move | Photovoltaic stocks collectively fell, with polycrystalline silicon production maintaining high levels in September. The market is paying attention to the specific details of the industry's self-discipline conference.

Photovoltaic stocks collectively fell, XINYI SOLAR (00968) fell by 6.42% to HKD 3.34; FLAT GLASS (06865) fell by 5.76% to HKD 11.62; XINTE ENERGY (01799) fell by 4.13% to HKD 7.9; Fuyao Glass Industry Group (03606) fell by 1.95% to HKD 77.75. Huafu Securities previously released a weekly report on power equipment, indicating that the pricing mechanism for the integration of new energy has been further improved, and distributed photovoltaic/ energy storage and direct connection of green electricity have received positive news. In the silicon material sector, although the reduction of production capacity in the industry in September is limited and there is an increase in production, the lack of orders has led to accumulating inventory. The market is paying attention to the self-regulation meeting of enterprises next week. In the photovoltaic glass sector, domestic component companies reduced their purchase of photovoltaic glass this week. Although they accepted the prices, there is resistance, and some are consuming their own inventories. Component production plans have been adjusted downwards again, and it is expected that glass inventory in September will increase. Zhengzhong Period Futures stated that the production of polysilicon in September remained high, and the supply continued to be loose. Xinjiang, Qinghai, and Ningxia continued to resume production and increase output, and Yunnan also reached full production capacity. Previous news of self-regulation and production reductions by enterprises have not been seen yet. Due to the improving overseas demand for battery cells, downstream sectors have some acceptance of high polysilicon supply, but the market as a whole still remains in a situation of oversupply. The bank stated that the recent market focus is not on the fundamentals, but under the expectation of anti-monopoly policies, the main logic of the operation of futures and spot prices still depends on the clarity and implementation of future policies. The focus is on the specific situation of the self-regulation meeting of the polysilicon industry this week.