According to the WiseNews App, photovoltaic stocks fell across the board in early trading. As of press time, Flat Glass Group (06865) is down 4.86% at HKD12.14, irico newenergy (00438) is down 3.02% at HKD3.21, Xinyi Solar (00968) is down 2.86% at HKD4.08, and Triumph New En (01108) is down 1.8% at HKD4.37.

On the news front, Li Chuangjun, director of the New Energy and Renewable Energy Department of the National Energy Administration, said at a news conference that the capacity-building and release of upstream photovoltaic capacity will be properly guided to avoid the repetition of low-end capacity construction. Central China Securities pointed out that the overcapacity in the photovoltaic manufacturing sector is causing excessive industry competition, product homogenization, and substantial downward pressure on prices, which is putting financial pressure on companies. The industry is entering a winter period of capacity clearing, but given the time required for industry adjustments and the status of previous rounds of capital reserves, it is expected that completion of adjustments will still take some time.

According to a report by Daiwa Securities, as of June 20, the average selling prices of 3.2mm and 2.0mm processed photovoltaic (PV) glass products have fallen from HKD24.5-25 per square meter as of June 13 to HKD24.5 and from HKD16-16.5 to HKD15.5-16, respectively. The average price of PV film products, such as transparent EVA and white EVA, remained unchanged. The bank has a neutral view on the photovoltaic industry and recently downgraded the rating of Flat Glass Group from "buy" to "outperform the market" and also downgraded the ratings of Flat Glass Group's A-Shares and Xinyi Solar to "hold".