HK Stock Market Move | Solar stocks extend losses; solar companies hold another anti-involution meeting; institutions say solar demand is notably weak.

Solar stocks extend losses. As of press time, Lens Technology (06613) fell 4.85% to HK$18.62; Hainan Drinda New Energy Technology (02865) fell 4.10% to HK$10.52; FLAT GLASS (06865) fell 2.43% to HK$5.21; XINYI SOLAR (00968) fell 2.09% to HK$1.87. On the news front, according to Jiemian, on October 11, leading domestic solar companies including Tongwei and GCL held a closed-door meeting in Hangzhou to further advance the industry's anti-involution initiative. The meeting further formed an implementation plan for capacity restrictions, proposing that through market-based adjustment mechanisms, companies be driven to independently coordinate and proactively suppress their own capacity based on total market demand, and set clear price floors for the polysilicon and module segments. Public data shows that from January to August, national newly added solar installations totaled 97.19GW, down 57.86% year-on-year; in August alone, new additions were 11.04GW, down 21.6% month-on-month and up 50% year-on-year. Soochow stated that solar demand is notably weak, prices are sluggish, demand is set to decline for the first time in 2026, and the profit inflection point remains unclear. Space solar brings potential incremental demand, benefiting equipment and auxiliary materials.