Sustainability Column: How is the Chinese market for geothermal power generation, which Buffett is interested in?
The electric energy hidden underground is becoming a clean resource mine in the eyes of technology giants and conglomerates.
HK Stocks stirred: GCL Tech (03800) rose more than 4% at the end of the day, and the overseas poly-silicon project is accelerating its landing. Institutions stated that the price of polycrystalline silicon has bottomed out.
According to the Zhixin Finanace app, GCL Tech (03800) rose more than 4% in the final trading session of the day and was up 3.79% to HKD 1.37 at the time of publication, with a turnover of HKD 259 million.
Jibang Consulting: The photovoltaic industry chain continues to reduce production and clear out inventory. The decision of post-SNEC manufacturers' production and scheduling is particularly crucial.
Due to downstream demand falling back and high silicon wafer inventory, coupled with the approach of Q2 financial reporting season, manufacturers face increased pressure to clear inventory, leading to relatively weak bargaining power for silicon wafer prices. It is expected that prices will remain low in the short term, with consolidation at low levels.
SNEC Photovoltaic Exhibition opens, photovoltaic power stocks rise collectively. GCL Tech (03800) rose by 4.48%.
Jingu Finance | SNEC PV Exhibition was held, and photovoltaic power stocks collectively rose. Comtec Solar (00712) rose by 5.92%, GCL New Energy (00451) rose by 4.71%, GCL Technology (03800) rose by 4.48%, Xinyi Energy (03868) rose by 3.54%, Xinyi Glass (00868) rose by 2.8%, Fuyao Glass (03606) rose by 1.35%, Xinte Energy (01799) rose by 1.17%. In terms of news, the 17th (2024) International Solar PV and Smart Energy (Shanghai) Exhibition of SNEC will be held in
Hong Kong stocks turmoil | Photovoltaic stocks rebounded in early trading, SNEC Photovoltaic Exhibition opened, and the industry's fundamentals are expected to improve marginally.
Photovoltaic stocks rebounded in the morning. As of press time, GCL NewEnergy (00451) rose 4.71% to HKD 0.445; GCL Tech (03800) rose 4.48% to HKD 1.4; Xinyi Glass (00868) rose 3.38% to HKD 8.86.
Photovoltaic power stocks are under pressure, Xinyi Glass (00868) fell 5.86%, and since the end of March, prices of polysilicon have dropped significantly.
Photovoltaic energy stocks are collectively under pressure, with SFCE (01165) falling 6.9%, Xinyi Glass (00868) falling 5.86%, irico newenergy (00438) falling 3.79%, GCL Tech (03800) falling 2.86%, Flat Glass (06865) falling 2.34%, and GCL Newenergy (00451) falling 2.27%.
[Brokerage Focus] BOCOM Intl cuts GCL Tech (03800) target price by 3%, downgrades rating to neutral.
Bocom Intl's research report shows that since the end of March, the price of polycrystalline silicon has significantly declined, falling below the cash cost of all companies except GCL Tech (03800), and it is expected that the company will lose about 200 million yuan in the second quarter.
Hong Kong stocks concept tracking| The photovoltaic grand gathering SNEC 2024 is about to be held, the industry may enter the bottom-up stage (with concept stocks).
Zhì tōng cái jīng APP learned that the annual photovoltaic industry event - the 17th SNEC International Solar Photovoltaic and Intelligent Energy (Shanghai) Conference and Exhibition will be held on June 13-15, 2024. This SNEC exhibition is also the largest in scale in recent years.
[Brokerage Focus] Yongxing Securities maintains a "buy" rating on GCL Tech (03800), indicating that their silicon granule exports are coming soon.
Jingu Finance | Yongxing Securities issued research reports stating that GCL Tech (03800) announced that in May 2024, the company's wholly-owned subsidiary, GCL Suzhou, and Mubadala (UAE sovereign fund) wholly-owned subsidiary MDCPOWER signed a cooperation agreement to develop the UAE's first polycrystalline silicon production facility cooperation project. According to the cooperation agreement, the company will continue to discuss the cooperation project with Mubadala and sign an investment agreement with legal effect for the cooperation project. The bank believes that the UAE is actively transitioning to clean energy.
Zhitong Hong Kong knew it early| Guangdong Province promotes high-quality development of distributed photovoltaics, and the Canadian central bank announced a 25 basis point rate cut.
The Bank of Canada announced a cut of 25 basis points, making it the "first decline" among G7 countries, with a rate of 4.75%.
HK stock moves | GCL Tech (03800) rose more than 4%, signed a cooperation agreement with Mubadala Sovereign Fund to build a silicon granule project in the UAE.
GCL Tech (03800) rose more than 4% and as of press time, the increase was 4.17%, with a price of HKD 1.5 and a turnover of HKD 85.78 million.
GCL Tech Eyes UAE for Silicon Project
GCL Technology Unit to Develop UAE's First Poly-silicon Manufacturing Facility With UAE's Mubadala
GCL Technology' (HKG:3800) unit GCL Technology (Suzhou) entered into a joint cooperation agreement with Mubadala's unit MDC POWER HOLDING to explore possible collaboration areas for the parties to dev
HKEX Announcement Nuggets | Tianqi Lithium Corporation (09696) signs a Partnership Agreement with its significant investee companies SQM and Chilean National Copper Corporation (Codelco).
Intercontinental Shipping (02409) exercised its purchase option to buy a ship for approximately USD 27.543 million; China Vanke (02202) recorded contract sales amounting to RMB 102.21 billion in the first five months, a decrease of 39.08% year-on-year.
GCL Tech (03800): Xie Xin Suzhou has signed a cooperation agreement with MDCPOWER to develop the first polycrystalline silicon production facility in the United Arab Emirates.
GCL Tech (03800) announced that the group plans to build the world's largest multi-... outside of China, in the Middle East.
GCL Tech (03800.HK) is planning to build a comprehensive silicon ecosystem of global and regional significance in the United Arab Emirates in cooperation with Mubadala.
GCL Tech (03800.HK) announced that the group will explore potential cooperation opportunities with Mubadala Investment Company PJSC to establish a comprehensive silicon ecosystem of global and regional importance in the United Arab Emirates.
Express News | GCL Technology - Joint Collaboration Agreement for Project in Middle East Mubadala
Huatai Securities: Optimistic about carbon reduction and transformation or speeding up the concentration of building materials
The bank believes that the release of this action plan is expected to strengthen the regulation of production capacity in the building materials industry, promote the implementation of energy-saving transformation in the building materials and construction industry, and accelerate the integration of photovoltaics in buildings and the construction of large scenic bases. It is recommended to focus on companies related to cement, engineering transformation, and power engineering.
Direct impact of changes | GCL Technology rose more than 7% to lead PV stocks, and the PV stock industry's backward production capacity is expected to clear up at an accelerated pace
On May 30, $PV Solar Energy (BK1233.HK) was stronger in early trading. As of press release, $GCL (03800.HK) $ rose 7.38% to HK$1.60; $Xinyi Solar (00968.HK) $ rose 4.73% to HK$5.54; $Follett Glass (06865.HK) $ rose 4.56% to HK$16.96; $Xinte Energy (01799.HK) $ rose 4.06% to HK$10.0. Market source: Futubull CITIC Securities said that excessive pressure on PV supply has led to high prices and profits in the industrial chain
Hong Kong Stock Concept Tracking | The State Council released a major document! New energy vehicles, photovoltaics, wind power, energy storage welcome catalysis (with concept stocks)
The Zhitong Finance App learned that recently, the State Council issued the “2024-2025 Energy Saving and Carbon Reduction Action Plan”, which welcomed benefits for various industries such as photovoltaics, energy storage, hydrogen energy, and new energy vehicles. Among them, it is proposed to actively develop pumped energy storage and new types of energy storage; speed up the construction of large-scale wind power photovoltaic bases focusing on deserts, Gobi, and deserts; develop biomass energy according to local conditions and promote hydrogen energy development in an integrated manner; and gradually lift restrictions on the purchase of new energy vehicles in various regions and promote the electrification of vehicles in the public sector. Major brokerage firms have also recently published their latest interpretations of the areas mentioned in the plan. Specifically, in terms of new energy vehicles, the plan is proposed
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