HK Stock Market Move | GOLDENSOLAR(01121) rose more than 11% against the market, previously Golden Yang Quanzhou entered into a joint venture agreement with a partner for the HBC upgrade project.

GOLDENSOLAR (01121) rose more than 11% against the market, rising 11.69% as of the time of writing, to 1.72 Hong Kong dollars, with a turnover of 1.7362 million Hong Kong dollars. In terms of news, GOLDENSOLAR previously announced that its indirect wholly-owned subsidiary, Jinyang Quanzhou New Energy Technology Co., Ltd. (Jinyang Quanzhou), has entered into a joint venture agreement with Yiwu Jing'ao CECEP Solar Energy Technology Co., Ltd. (Yiwu Jing'ao) and Fujian Jinshi Energy Co., Ltd. (Fujian Jinshi) to establish a joint venture company for the 4 gigawatt (GW) mixed dull passivated back contact (HBC) upgrade project. According to the agreement, Yiwu Jing'ao and Fujian Jinshi have agreed to establish a joint venture company in the People's Republic of China to produce a total of 4GW of HBC CECEP Solar Energy batteries, with Jinyang Quanzhou agreeing to grant the joint venture company the right to use its HBC CECEP Solar Energy battery patented technology. It is expected that Yiwu Jing'ao and Fujian Jinshi will respectively hold minority and majority shares in the joint venture company, while Jinyang Quanzhou will not hold any shares in the joint venture company. Dongxing Securities pointed out that the rush to install has driven the recovery of the photovoltaic industry's performance in Q1 25 years, but the entire industry is still in a loss-making stage, and capacity clearing is still ongoing. In this context, industry self-discipline and technological innovation have become key breakthroughs. On the one hand, leading companies may lead the establishment of a capacity planning coordination mechanism, avoid vicious competition through the signing of self-discipline agreements, and guide the rational allocation of resources; on the other hand, the continuous improvement in production efficiency of new battery technologies, breakthroughs in silver-free technologies, and accelerated promotion of production line upgrades. With the improvement of self-regulation mechanisms and technological innovation, the photovoltaic industry is expected to accelerate the elimination of outdated capacities and optimize the supply structure.