HK Stock Movement | XINTE ENERGY (01799) Rises Over 5% in Afternoon Trading as Silicon Material Consolidation Platform Launches, with Planned Capacity Retained Below 1.5 Million Tons

Stock News12-12 13:55

XINTE ENERGY (01799) surged more than 5% in afternoon trading, reaching a 3.81% increase to HKD 7.36 by the time of writing, with a turnover of HKD 8.7892 million.

On December 9, reports indicated the official establishment of a long-anticipated polysilicon capacity consolidation and acquisition platform, named Beijing Guanghe Qiancheng Technology Co., Ltd. According to sources familiar with the matter, the total retained silicon material capacity of related companies will not exceed 1.5 million tons in the future.

Additionally, Guanghe Qiancheng currently has a registered capital of RMB 3 billion, with major shareholders including Tongwei, GCL, East Hope, Daqo New Energy, and XINTE ENERGY. The insider revealed that Guanghe Qiancheng will undergo capital increases in the future, leading to potential adjustments in shareholders' stakes. Furthermore, equity shares in Guanghe Qiancheng will be freely transferable among shareholders.

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