HK Stock Market Move | Photovoltaic stocks collectively fell back, XINTE ENERGY (01799) dropped more than 5%, institutions pointed out that the elimination of inefficient production capacity is not expected to impact short-term supply and demand.

Photovoltaic stocks collectively fell. As of the time of writing, XINTE ENERGY (01799) fell by 5.35% to HK$4.42; XINYI SOLAR (00968) fell by 4.05% to HK$2.37; Fuyao Glass Industry Group (03606) fell by 3.56% to HK$52.85; FLAT GLASS (06865) fell by 2.82% to HK$7.24. On the news front, the national standard "Efficiency Limit and Efficiency Grade of Monocrystalline Silicon Photovoltaic Modules and Inverters" has entered the final approval stage before publication, and is expected to be officially released in the short term. GF Futures stated that there are rumors that this may lead to the exit of 30% of production capacity, but according to SMM statistics, the annual production capacity of photovoltaic modules has exceeded 1000GW, with a production of 36.36GW in May and an operating rate of only about 35%, with most of them being high-efficiency capacity. The elimination of low-efficiency capacity is not expected to affect short-term supply and demand. HSBC Qianhai Securities released a research report stating that during the Shanghai SNEC PV Exhibition, various companies exhibited various types of space-grade perovskite solar cell products. However, considering the reliability issues and the need for time to collect sufficient data from space to optimize products, the application of perovskite solar cells in the space field may be difficult and slow. In addition, considering the transition from China's on-grid electricity price system to a market-oriented pricing system in June 2025, the demand outlook for the PV supply chain in 2026 is bleak. With the entry of new players, competition in the PV module industry may intensify.