HK Stock Market Move | Photovoltaic stocks across the board are falling, with Delixi and Longji canceling a 5.5 billion yuan photovoltaic glass order. Institutions point out that the industry's capacity clearing is progressing slowly.

Photovoltaic stocks fell across the board. As of the time of publication, Lens Technology (06613) fell by 5.9% to 21.06 Hong Kong dollars; FLAT GLASS (06865) fell by 5.04% to 8.23 Hong Kong dollars; XINYI GLASS (00868) fell by 2.1% to 10.72 Hong Kong dollars; XINYI SOLAR (00968) fell by 1.92% to 3.06 Hong Kong dollars. On the news front, Anhui Deli Household Glass recently announced the termination of a 5.5 billion yuan photovoltaic glass procurement agreement with LONGi Green Energy Technology. The announcement stated that since the second half of 2024, the price of photovoltaic glass has continued to decline, leading to a situation where the selling price of photovoltaic glass products is lower than the cost, resulting in significant losses. In response to the changing situation, Bengbu Light Energy has stopped production since January 2025. Anhui Deli Household Glass expects not to restart the production lines related to photovoltaic glass within the next two years. Western pointed out that the photovoltaic glass industry is under pressure. Overall, the clearance of production capacity in the photovoltaic glass industry is slow, mainly due to the short operating time of most production lines and frequent signals of "anti-domestic competition," leading companies to make cautious decisions on production suspensions; there are also a lot of potential new production capacity in construction or completed but not yet put into operation. It is necessary to continue to monitor the pace of production suspensions by manufacturers and the progress of "anti-domestic competition."