Xinte Energy (01799) fell nearly 5%, and as of press time, it was down 4.78%, at HKD 8.36 with a turnover of HKD 15.6541 million.
According to the Zhijing Finance APP, Xinte Energy (01799) fell nearly 5% and as of press time, it was down 4.78%, at HKD 8.36 with a turnover of HKD 15.6541 million.
Regarding the news, according to the Silicon Industry Branch’s quotation on June 19th, the prices of monocrystalline silicon n-type rod-like silicon and n-type granular silicon have slightly decreased this week. The transaction price range of n-type rod-like silicon is 39,000-43,000 yuan/ton, with a transaction price of 40,100 yuan/ton, a decrease of 1.72% compared to the previous week. The Silicon Industry Branch pointed out that at present, the silicon material price has exceeded the production cost line of all enterprises, and is gradually approaching the bottom price because although there has been a significant reduction in silicon material production, the reduction in supply is still lower than expected. The operating rate of silicon wafer production continues to maintain a low level, and there has been no large-scale hoarding behavior yet.
According to a previous report by HSBC Research, the recent price collapse of polycrystalline silicon has exceeded the bank's expectations. The bank believes that the current low price may continue until there is a greater reduction in supply. The target price for Xinte Energy has been reduced from HKD 10.2 to HKD 7.9, and the rating has been downgraded to 'shareholding'.