The Zhitong Finance App learned that photovoltaic glass stocks fell collectively in early trading. As of press release, Xinyi Glass (00968) fell 9.77% to HK$5.17; Follett Glass (06865) fell 6.85% to HK$16.32; and Fuyao Glass (03606) fell 2.92% to HK$48.1.
According to the news, in response to an application submitted by the US Solar Manufacturing and Trade Commission on April 24, the US Department of Commerce announced the initiation of anti-dumping and countervailing investigations against crystalline silicon photovoltaic cells imported from Cambodia, Malaysia, Thailand and Vietnam (whether or not assembled into modules). The US International Trade Commission (ITC) is expected to issue a preliminary ruling on industrial damage in this case no later than June 10, 2024.
According to the news, specific control measures include no longer excluding solar bifacial modules from tariffs, resuming tariffs on solar products from Cambodia, Malaysia, Thailand and Vietnam after June 6, and requiring installation to be completed within 6 months to crack down on product hoarding, and adopting subsidies and other measures to support technology development for photovoltaic cell silicon wafers and battery manufacturing within the US.