Solar stocks experienced broad declines in Hong Kong trading. As of press time, XINYI SOLAR (00968) fell 3.82% to HK$3.27; XINYI GLASS (00868) dropped 3.3% to HK$8.5; XINTE ENERGY (01799) declined 2.8% to HK$6.95; and FLAT GLASS (06865) decreased 2.64% to HK$10.33.

On the news front, the Silicon Industry Association recently highlighted that market supply-demand imbalances have intensified once again. To alleviate supply-demand pressures, some silicon material companies are planning coordinated production cuts. If these production limitations are properly implemented, September output is expected to remain flat month-over-month, providing temporary relief from supply-demand pressures.

Multiple solar companies have received notifications to participate in a solar enterprise symposium organized by relevant authorities on August 19. Century Securities noted that last week's raw material prices showed no significant changes in both quotations and transaction prices. The impact of weak component demand is gradually becoming apparent, with TOPCon component spot orders being signed in small quantities at levels ranging from 0.65-0.7 RMB, though subsequent order quotations have begun declining.

Looking ahead, the current solar market rally is primarily driven by "anti-involution" policies. However, if policies fail to materialize and prices cannot be successfully transmitted downstream, the arrival of a turning point for the solar industry remains highly uncertain. Therefore, continued observation of subsequent policy implementation is necessary.