HK Stock Market Move | Hainan Drinda New Energy Technology (02865) rose more than 7% in early trading. Its Chuzhou base recently achieved large-scale production of TOPCon batteries.

Hainan Drinda New Energy Technology (02865) rose more than 7% in the morning session, as of the time of writing, it has risen by 6.83% to 17.04 Hong Kong dollars, with a turnover of 300.528 million Hong Kong dollars. On the news front, recently, Hainan Drinda New Energy Technology stated on its interactive platform that the Chuzhou base has successfully achieved the first mass production of TOPCon + Perovskite stacked layer batteries. In addition, Hainan Drinda New Energy Technology recently provided a 3.5 billion yuan debt guarantee for its subsidiary, Huai'an Jietai. Guo Security International pointed out that Hainan Drinda New Energy Technology's TOPCon capacity is 44.4GW, with two production bases in China, in Chuzhou, Anhui and Huai'an, Jiangsu. The bank stated that the production base in Chuzhou, Anhui, is one of the first in the world to achieve large-scale production of TOPCon batteries. The company's production bases have achieved efficient intelligent automated production. The company has the ability to rapidly expand production capacity, with the construction of the Chuzhou and Huai'an production bases completed within 4-5 months. The company's existing production bases have technological upgrade space and can adapt to new technology routes. If TBC batteries achieve large-scale production in the future, the company's existing production lines can be converted for TBC battery production, increasing investment returns.