Xinte Energy (01799) rose nearly 7% during afternoon trading. At the time of writing, the stock was up 5.96% to HK$5.51, with a turnover of HK$13.65 million. On April 1, the Guangzhou Futures Exchange issued an optimization notice for polysilicon futures rules, adjusting trading thresholds, fees, and margin requirements, significantly enhancing market liquidity. On April 10, a meeting held by the Ministry of Industry and Information Technology emphasized the need to eliminate "cutthroat competition" in the photovoltaic industry and enhance the resilience and security of the supply chain, signaling expectations for supply-side reforms, phasing out outdated capacity, and regulating low-price competition. On April 13, the main polysilicon futures contract on the Guangzhou Futures Exchange hit the daily limit in the afternoon, reaching 34,770 yuan per ton, up 9.0%. Additionally, Shenwan Hongyuan Securities noted that the valuation framework for the new energy sector is undergoing a fundamental shift, no longer priced solely on manufacturing cycle logic but increasingly reflecting a "security premium" due to rising global energy security demands. Geopolitical conflicts have exposed vulnerabilities in fossil fuel supply chains, prompting countries to accelerate energy independence. With its low manufacturing costs, high production efficiency, and comprehensive industrial chain, China has become a core global supplier of new energy, supporting an upward shift in valuation benchmarks.