Hong Kong stocks fluctuated | Photovoltaic stocks collectively declined as the export volume of photovoltaic products fell by more than 30% in the first quarter, and the end of the rush to install may pressure the Industry Chain in terms of both price and

According to Zhituo Finance APP, solar stocks have collectively declined. As of the time of this report, FLAT GLASS (06865) has fallen by 3.95%, trading at 8.5 Hong Kong dollars; XINTE ENERGY (01799) has dropped by 2.9%, trading at 4.35 Hong Kong dollars; XINYI SOLAR (00968) has decreased by 2.41%, trading at 2.43 Hong Kong dollars; XINYI GLASS (00868) has declined by 2.22%, trading at 7.48 Hong Kong dollars.

In news, the China Chamber of Commerce for Import and Export of Machinery and Electronic Products recently released an analysis of China's photovoltaic product foreign trade for the first quarter of 2025. In the first quarter of 2025, China's export value of photovoltaic products was 6.71 billion dollars, a year-on-year decrease of 30.5%. Among them, China's export value of photovoltaic modules to the European Union was 1.8 billion dollars, a year-on-year decrease of 38.8%, with an export volume of approximately 18.6 GW, a year-on-year decrease of 15.6%, and the export share to Europe decreased by 3 percentage points to 32.2%.

China Securities Co.,Ltd. released a Research Report stating that from the capacity side, the industry's willingness to expand production has significantly decreased due to low profitability. It is expected that fixed asset growth will decline sharply in the coming year, but the existing capacity is still significantly higher than the demand. The industry needs to focus on upstream inventory clearance and the pace of capacity elimination moving forward. HTSC previously pointed out that looking ahead to Q2, the bank expects the rush to install and schedule production to end or enter a demand vacuum period, which may put pressure on the quantity and price in the Industry Chain in the short term.