HK Stock Market Move | XINYI SOLAR (00968) rose nearly 4% in the morning, Indonesia's first photovoltaic glass furnace successfully ignited, and the company's overseas shipment proportion increased within the year.

XINYI SOLAR (00968) rose nearly 4% in the morning session, up 3.97% at the time of publication, at HK$3.67, with a turnover of HK$100 million. On the news front, XINYI SOLAR announced on its official WeChat account that the ignition ceremony for the first photovoltaic glass kiln in its Indonesia project was grandly held in the Jiepai Economic Zone in Indonesia. The production line uses international leading equipment and production technology, with a daily melting capacity of 1200 tons and an annual output of over 360,000 tons, which can meet the demand for about 8GW of CCEP Solar Energy module covers, effectively supporting the rapid development of clean energy in Southeast Asia and surrounding areas. In the future, the company will continue to actively respond to the national "Belt and Road" initiative and deepen its investment and cooperation in Indonesia. China Jin pointed out that XINYI SOLAR's Indonesian 1200-ton production line has been put into operation recently, and the bank expects another line to be put into operation soon, achieving full production and sales within the year. The company's overseas production capacity accounts for 24.7% of the total production capacity. Based on overseas component demand and glass supply, the bank estimates that the company still needs to export 10-15% of its products to overseas markets, in addition to overseas production capacity shipments. The bank believes that the company's total overseas shipments will exceed 35%, with the long-term profit margin of photovoltaic glass being higher overseas than domestically, and the profit margin center is expected to shift upwards from last year.