HK Stock Market Move | Hainan Drinda New Energy Technology (02865) rises over 3% against the market trend; Q3 results show narrowed losses quarter-on-quarter, benefiting from cell price recovery and efficiency improvement and cost reduction.

Hainan Drinda New Energy Technology (02865) rose against the market trend, gaining more than 4% intraday. As of press time, it was up 3.10% at HK$10.99, with turnover of HK$56.5024 million. On the news front, on the evening of October 21, Hainan Drinda New Energy Technology released its Q3 2026 results. In the first three quarters, the company achieved operating revenue of RMB 5.223 billion, down 8.1% year-on-year; net loss attributable to shareholders of the listed company was approximately RMB 428 million, up 2.25% year-on-year. Notably, the company achieved operating revenue of RMB 2.042 billion in Q3, up 37.4% quarter-on-quarter; net profit attributable to parent was -RMB 175 million, a quarter-on-quarter loss reduction of RMB 92 million. Sinolink believes that the company's quarter-on-quarter loss reduction in Q3 was mainly due to the recovery in cell prices and the company's continued efficiency improvement and cost reduction. According to InfoLink, TOPCon cell prices in Q3 rose 11% from the August low, driving the company's profit recovery. In addition, excluding the impact of subsidy recognition timing in Q3, the actual loss-reduction trend exceeded expectations. Considering that fixed asset impairment provisions in 2025 were relatively adequate, the company's subsequent profit growth elasticity is viewed favorably.