Solar energy stocks collectively trended lower. At the time of writing, LENS (06613) was down 4.72% to HKD 21.4; XINYI SOLAR (00968) fell 4.9% to HKD 2.72; XINTE ENERGY (01799) dropped 2.59% to HKD 5.64; and FLAT GLASS (06865) declined 2.35% to HKD 7.88.

On the news front, the National Energy Administration released data on photovoltaic power generation construction for the first quarter of 2026. The newly added grid-connected capacity for Q1 2026 reached 41.189 million kilowatts, comprising 19.619 million kilowatts from centralized photovoltaic power stations and 21.57 million kilowatts from distributed photovoltaic systems.

Orient Futures noted that the photovoltaic glass market continues to experience a supply-demand imbalance. Current price levels have significantly fallen below the industry's average cash cost line, plunging most companies into substantial losses, with the current industry gross margin approximately at -59.06%. Overall, if a supply-demand rebalance is not achieved promptly, the pace of price declines may accelerate, forcing higher-cost production capacity to exit the market more quickly, making an industry shakeout inevitable.