On August 7, XINYI SOLAR rose 5.17% in regular trading, trading at HK$2.445/share, with turnover of approximately HK$67.96 million. The rally was driven by multiple international investment banks turning bullish on the photovoltaic glass industry outlook.

Goldman Sachs raised its target price for XINYI SOLAR to HK$3 while maintaining a Buy rating, citing expectations that producer inventory will decline from 51 days in July to 35 days by September, supporting a potential 22% glass price increase from H2 through early next year. JPMorgan upgraded its rating to Overweight, adopting a selectively optimistic view on the PV sector. Guotou Securities noted the industry trough in Q2 has passed with room for valuation recovery. Industry supply-side discipline has been tightening, with mainland China operating capacity falling from 87,000 tonnes in late March to 71,000 tonnes currently, including 5,000 tonnes of cold repair in July alone.

Management indicated current low price levels are unsustainable and expressed willingness to cooperate with peers on supply discipline to push average selling prices back above cost. The company's overseas revenue accounted for 38.8% in H1, with its Indonesia project progressing smoothly.

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