Stock Track | XINYI GLASS Plummets 6% Intraday as Weak PV Module Output and Demand Weigh on Solar Sector

Stock Track12-09

XINYI GLASS (00868) saw its shares drop sharply by 6% during Tuesday's intraday trading, underperforming the broader market. The decline aligns with a broader sell-off in solar stocks amid weak industry data.

Industry reports indicate China's PV module output fell 2.43% month-on-month in November, while domestic installations missed expectations. Rising module prices have triggered downstream buyer resistance, leading to higher inventory levels. Overseas demand has also weakened due to seasonal factors and fading export tax rebate effects, prompting companies to cut production.

Analysts note that despite production cuts in the cell segment, weak end-demand remains unresolved, with some manufacturers likely to further reduce output. Market sentiment remains cautious, with price trends dependent on upstream-downstream negotiations.

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