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GCL TECH Slips Another 6% as A-/ H-Shrs of PV Sector Slump; Polysilicon Industry Capacity Acquisition Platform Reportedly Still Awaiting Launch
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Both the H- and A-shares of the PV sector were thrown into a downtrend today (11th). GCL TECH (03800.HK), despite a flat open, stretched yesterday's 4.2% drop and once sank to a bottom of HKD1.04. It last traded at HKD1.06, down 6.19%, with a turnover of HKD592 million. FLAT GLASS (06865.HK) fell 2%. XINYI SOLAR (00968.HK) and XINTE ENERGY (01799.HK) also slid 1-1.1%. LONGI GREEN ENERGY (601012.SH), TONGWEI (600438.SH), and DAQO ENERGY (688303.SH) eroded 1.1-2.4%. According to recent Chinese media reports, China's polysilicon industry is advancing an anti-involution campaign, and it regards Beijing Guanghe Qiancheng Technology Co., Ltd. (literal translation of "北京光和謙成科技有限責任公司"), a company registered on December 9, as a long-awaited polysilicon capacity integration acquisition platform. The STAR Market Daily, however, reported after yesterday's (10th) on-site interview at Guanghe Qiancheng's registered address in Beijing that the company hasn't yet commenced operations and is still in the preparation stage. AAStocks Financial News |
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