XINYI SOLAR (00968) saw its shares rise by nearly 4% in morning trading. At the time of writing, the stock was up 3.97%, trading at HK$3.67 with a turnover of HK$100 million. The increase follows the company's announcement that the first photovoltaic glass furnace at its Indonesian project has been successfully ignited in the KIP Special Economic Zone. The production line utilizes internationally advanced equipment and technology, with a daily melting capacity of 1,200 tons and an annual output exceeding 360,000 tons. This output can meet the cover glass demand for approximately 8GW of solar modules, significantly supporting the rapid development of clean energy in Southeast Asia and surrounding regions. The company plans to continue actively responding to China's Belt and Road Initiative by deepening its investment and cooperation in Indonesia. Analysis from CICC notes that one 1,200-ton production line at XINYI SOLAR's Indonesia facility has recently commenced operations, with another line expected to begin production soon, achieving full capacity and sales within the year. The company's overseas capacity currently accounts for 24.7% of its total operational capacity. Based on overseas module demand and glass supply conditions, it is estimated that an additional 10-15% of domestic production will need to be allocated for export. Combined with shipments from overseas capacity, the total proportion of overseas shipments is projected to exceed 35%. With overseas profit margins for photovoltaic glass consistently higher than domestic margins, the company's overall profit margin focus is expected to shift upward compared to last year.