HK Stock Market Move | XINTE ENERGY (01799) rose more than 8% in the morning session, and the production of polycrystalline silicon in April may be lower than previously expected.

XINTE ENERGY (01799) rose more than 8% in the morning session, up 7.12% at the time of publication, at HK$5.72, with a turnover of HK$101.159 million. On the news front, according to Shanghai Nonferrous Network, some domestic polysilicon restarts in April have been delayed or undergoing maintenance, resulting in potential lower production than previously expected, with an estimated production of less than 90,000 tons in the domestic market in April. While there has been an increase in previous market orders, there is still pressure from excessive inventory in the polysilicon market compared to supply. It is worth noting that the Central Committee and State Council have recently issued opinions on promoting the deepening of reforms in industry associations and chambers of commerce, clearly stating the need for strict management of the establishment of enterprises within these associations. In January this year, the Market Regulation Administration required the China Photovoltaic Industry Association and the companies it spoke with to not agree on production capacity, utilization rates, production and sales volumes, or sales prices; not to divide the market, distribute production capacity, or distribute profits in any form; and not to communicate or coordinate on pricing, costs, production and sales volumes, and other information both currently and in the future.