Solar stocks experienced broad declines in Hong Kong trading. XINYI SOLAR (00968) dropped 6.42% to HK$3.34; FLAT GLASS (06865) fell 5.76% to HK$11.62; XINTE ENERGY (01799) declined 4.13% to HK$7.9; and FUYAO GLASS (03606) slipped 1.95% to HK$77.75.
A securities firm previously issued a power equipment weekly report indicating that the pricing mechanism for nearby renewable energy consumption has been further refined, bringing definitive benefits to distributed solar/energy storage and direct green power connections. In the silicon material segment, the industry's production cuts in September were limited with some capacity increases, maintaining substantial weekly output. However, insufficient orders led to inventory accumulation, with the market closely watching next week's corporate self-discipline meeting developments.
In the solar glass segment, domestic module manufacturers reduced their procurement of solar glass this week. While accepting current prices, they showed high resistance, with some consuming their own inventories. Module production schedules were again revised downward, and glass inventory is expected to rise in September.
A futures company noted that September polysilicon production remained at high levels with continued loose supply conditions. Xinjiang, Qinghai, and Ningxia continued production recovery and capacity expansion, while Yunnan region also reached full production capacity. Previous rumors of corporate self-discipline production cuts have yet to materialize. Driven by favorable overseas demand for battery cells, downstream sectors showed some absorption capacity for high polysilicon supply, but the market overall remains in an oversupply situation.
The firm emphasized that recent fundamentals are not the market's primary focus. Under expectations of anti-competition policies, the main logic driving spot and futures price movements still depends on the clarity and implementation level of future policies. Attention remains on the specific developments of this week's polysilicon industry self-discipline meeting.