HK Stock Market Move | Photovoltaic stocks continue to decline, rumors of the establishment of a polysilicon storage platform are untrue, and the future demand for new installations still needs to be observed.

Photovoltaic stocks continued to decline. As of the time of writing, Fuyao Glass Industry Group (03606) fell by 4.89% to HK$68.1; XINTE ENERGY (01799) fell by 4.64% to HK$7.81; XINYI SOLAR (00968) fell by 3.8% to HK$3.54; FLAT GLASS (06865) fell by 2.77% to HK$11.23. On the news front, according to Securities Times, the progress of the photovoltaic industry's polysilicon storage plan is a focus of industry attention. There have been rumors recently that the polysilicon storage platform has been established, with the platform company having completed its business registration and a joint account has been opened. However, it was found out from authoritative sources in the industry that these rumors are not true. In addition, the Photovoltaic Association clarified rumors about the "three-day consecutive meeting", stating that it was a monthly meeting of the association. It is worth noting that after the rush of installations following the 531 policy earlier this year, the monthly new installed capacity of domestic photovoltaics has declined for three consecutive months. In August, the new installed capacity was 7.36GW, a year-on-year decrease of 55.29% and a month-on-month decrease of 33.33%. Guosen stated that the future profitability of photovoltaic companies will mainly depend on the pace of capacity clearance and the demand for photovoltaic installations after the marketization of grid-connected electricity prices.