The Zhitong Finance App learned that PV stocks continued to decline. As of press release, Follett Glass (06865) fell 6.02% to HK$14.04; Xinte Energy (01799) fell 3.65% to HK$13.2; Kaisheng Xinneng (01108) fell 2.97% to HK$3.92; and Xinyi Solar (00968) fell 2.52% to HK$4.65.
CITIC Futures pointed out that it is difficult to change expectations of excessive supply and demand in the photovoltaic industry chain: the China Photovoltaic Association expects that in 2023, China's new PV installations will be between 120-140 GW, and the global PV installed capacity will be between 305-350 GW. However, the forecast for a high increase in photovoltaic production capacity in 2023 remains unchanged. It is estimated that in 2023, China's silicon production will exceed 1.4 million tons, while the production capacity of silicon wafers, cells, and modules will all exceed 700 GW, far exceeding the demand of around 450 GW. The bank said that the prices of silicon wafers and batteries, where there is a serious oversupply and demand, continue to be weak, and the price of silicon materials is still falling. After prices in the industrial chain continued to fall, some companies were close to losing money. According to SMM statistics, the silicon wafer production schedule for October was drastically lowered.