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Highlights from the Brokerage morning meeting: Demand improved in the first quarter, and performance recovery in the Electrical Utilities New energy Fund industry is expected.
In today's Brokerage morning meeting, Sinolink believes that the core logic of incremental policies is becoming clearer; China Securities Co.,Ltd. noted that the current expectations for Fuel Cell Energy vehicles in the Sector are relatively weak, and there might be an upward inflection point in sales during the peak season in May-June; HTSC suggested that the demand is improving in the first quarter, and the performance recovery of Electrical Utilities New energy industry is expected.
Hong Kong stocks are moving differently | Solar stocks dropped today as the current solar installation rush comes to an end, and the quotes in the solar Industry Chain are accelerating their loosening.
Photovoltaic stocks fell today. As of the time of writing, FLAT GLASS (06865) is down 4.7%, trading at HKD 8.31; IRICO NEWENERGY (00438) is down 2.8%, trading at HKD 2.08; XINYI SOLAR (00968) is down 2.66%, trading at HKD 2.56; XINTE ENERGY (01799) is down 1.32%, trading at HKD 4.5.
China Great Wall: In March, the solar Industry in China showed signs of stabilization and recovery, with the Power Inverter expected to recover first.
After a year of adjustment in the Industry, 2024 may mark the bottom of profitability. The Power Inverter is expected to recover first due to technological barriers, and the supply-demand rebalancing will optimize the competitive landscape.
Pacific Securities: The Quote for The Pacific Industry Chain in the photovoltaic sector is accelerating downward.
With the end of inventory preparation, the Quote in the photovoltaic Industry Chain is accelerating to loosen, due to significant price drops in the downstream market and an increased shipping intention from some leading Polysilicon manufacturers, the price of Block Orders for Polysilicon is rapidly declining, approaching mainstream cash costs.
Hong Kong stocks moved differently | Some solar stocks rose in the afternoon as it is reported that the Solar Industry Association will hold a production control meeting this afternoon. Institutions indicated that expectations for supply-side reform have
Some photovoltaic stocks rose in the afternoon, as of the time of writing, TRIUMPH NEW EN (01108) increased by 15.77% to 3.89 HKD; FUYAO GLASS (03606) rose by 4.98% to 51.6 HKD; XINYI ENERGY (03868) increased by 3.45% to 0.9 HKD; GCL TECH (01799) rose by 2.56% to 0.8 HKD; XINYI GLASS (00868) increased by 0.73% to 6.94 HKD.
[Brokerage Focus] CITIC SEC: The USA's tariffs on China have sharply increased, but photovoltaic exports have already become desensitized.
Based on Jinwu Financial News | CITIC SEC stated that the USA's "reciprocal tariffs" are fierce but lack endurance. Meanwhile, China's photovoltaic industry has become desensitized to high tariffs such as the "double anti," 301, and 201 over the long term. It mainly achieves indirect exports to the USA through overseas bases in Southeast Asia. Although the impact of the "tariff war" has caused the costs of Chinese photovoltaic manufacturers' overseas production capacity to rise and squeezed profits further, they may still have a relative advantage compared to the high manufacturing costs in the USA. The process of bringing photovoltaic manufacturing back to the USA is full of uncertainty and is unlikely to change the predicament of dependency on imported photovoltaic products in the medium term.
