Xinte Energy's stock plummeted 7.83% during intraday trading on Monday, reflecting a broader downturn across the photovoltaic sector.

The decline follows the upcoming comprehensive cancellation of the 9% value-added tax export rebate for solar products, effective April 1. Contrary to industry expectations, there was no surge in last-minute export shipments ahead of the policy implementation, with export data for January and February remaining stable.

Meanwhile, polysilicon prices have fallen to a new low of 40,000 yuan per ton, with wafer and cell prices also continuing to decline. This reflects persistently weak market sentiment and a lack of recovery in end-demand. Industry insiders suggest that the immediate impact of the rebate cancellation, coupled with low product prices and strong wait-and-see attitudes from end-users, may lead to disappointing financial results for photovoltaic companies in the second quarter.