HK Stock Market Move | Hainan Drinda New Energy Technology (02865) fell more than 6% to a new low, with a third-quarter loss of RMB 175 million; prices for the company's core business remain under pressure.

Hainan Drinda New Energy Technology (02865) opened lower this morning and extended its losses, hitting an intraday low of HK$9.63, a new low since its listing in May 2025. As of press time, it was down 6.23% at HK$9.63, with turnover of approximately HK$21.57 million. On the news front, Hainan Drinda New Energy Technology released its third-quarter 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, an increase of 2.25% year on year. In the third quarter, the company achieved operating revenue of RMB 2.042 billion, up 1.17% year on year and up 37.4% quarter on quarter; net profit attributable to parent was -RMB 175 million, a quarter-on-quarter reduction in loss of RMB 92 million. CICC believes that Hainan Drinda New Energy Technology's third-quarter results were below the bank's expectations. The company's quarterly loss was mainly due to the supply-demand landscape across the photovoltaic industry chain not yet having substantially improved and product prices fluctuating at low levels, but strong overseas battery demand and higher shipment volumes drove marginal profit recovery. Considering that the company's core business prices will remain under pressure in 2026 and the growth contribution from its second growth curve is limited, CICC lowered its 2026 forecast net profit attributable to parent from RMB 96 million to -RMB 392 million.