The Zhitong Finance App learned that Xinyi Solar (00968) rose more than 5% in early trading. As of press release, it had risen 4.03% to HK$6.19, with a turnover of HK$145 million.
According to the news, on March 25, the National Energy Administration released national power industry statistics for January-February. By the end of February, the country's cumulative installed power generation capacity was about 2.97 billion kilowatts, an increase of 14.7% over the previous year. From January to February 2024, the new PV installed capacity was 36.72 million kilowatts, an increase of 80% over the previous year.
Zhongtai Securities pointed out that in the future, drawing on the global PV market-based development, it is expected that the red line of consumption will gradually be loosened, the space for PV demand will open up drastically, and PV is expected to usher in a new upward cycle. Furthermore, as the increase in downstream module production schedules exceeds expectations, 2024Q1 photovoltaic glass inventory is rapidly erasing. CITIC Securities estimates that photovoltaic glass may be short in production capacity starting in 24Q2. The supply and demand pattern will clearly tighten, and prices may enter an upward cycle.