Lyon: Sinovel Energy (00968.HK) performance in first half of the year slightly exceeds expectations, target price is 4 Hong Kong dollars.

According to Zhixun Finance APP, a report released by Lyon stated that after the rush to install photovoltaic panels, demand has weakened, leading to leading solar glass companies beginning cold repairs on kilns and delaying capacity expansion. The daily smelting volume has decreased from 100,000 tons in June to 92,000 tons in mid-July. The bank still believes that under potential supply-side reforms, leading solar glass companies will be in a more favorable position; the target price for GCL-Poly Energy Holdings Limited (00968.HK) is set at 4 Hong Kong dollars with an outperform rating.