Movement Alert｜DRINDA Falls 5.82% in Regular Trading, Oman 5GW Cell Plant Termination Weighs on Sentiment

Market Focus11-13 09:50

On November 13, DRINDA fell 5.82% in Regular Trading, trading at HK$12.71, with turnover of HK$42.71 million.

The clearest catalyst in publicly available information is the company’s decision to terminate its planned 5GW high-efficiency solar cell manufacturing project in Oman, which had been positioned as an overseas capacity expansion initiative.

Company disclosures show the Oman project carried planned investment of about US$280 million. DRINDA said the external operating environment and implementation conditions had changed materially, and the project no longer had the practical conditions to proceed. The project had not started substantive construction work, and the remaining HK$963 million of H-share proceeds originally earmarked for the project is proposed to be redirected to solar cell product R&D, technology upgrades and production line retrofits, strategic raw material procurement, and working capital, subject to shareholder approval.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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