The Zhitong Finance App learned that Xinte Energy (01799) has now fallen by more than 5%. As of press release, it is down 5.74% to HK$8.86, with a turnover of HK$13.5998 million.
According to the news, Xinte Energy announced its report for the first quarter ending March, achieving revenue of 5.601 billion yuan, a year-on-year decrease of 44.5%; operating costs of 4.29 billion yuan. Net profit attributable to shareholders was 359 million yuan, down 89.6% year on year.
Debon Securities pointed out that at present, the price of silicon has reached the cash costs of most companies, and has even fallen below the cash costs of some companies. Although silicon prices have continued to decline for many weeks, the current price drop still falls short of downstream expectations. The downstream continues to be bearish, and there is no sign of large-scale bottom-up stocks at low prices. At the same time, downstream companies' early stock inventory was basically exhausted, and there was an increase in some exploratory transaction orders. Therefore, although orders from silicon companies have improved, it is still difficult to execute early orders, and most of them are still delivered after price changes.