Hong Kong Stock Volatility | Xinyi Solar (00968) rose nearly 4% in the morning. Indonesia's first photovoltaic glass kiln successfully ignited. The company's overseas shipments accounted for an increasing proportion within the year.

Bloomberg Finance APP has learned that Xinyi Solar (00968) rose nearly 4% in the morning. As of the time of reporting, it increased by 3.97%, trading at HKD 3.67, with a turnover of HKD 100 million.

On the news front, it is believed that Xinyi Solar’s official WeChat account announced that the first photovoltaic glass kiln at the company’s Indonesia project was ceremoniously inaugurated in the Kendal Economic Zone in Indonesia. The production line uses internationally advanced equipment and technology, with a daily melting capacity of 1,200 tons and an annual output of over 360,000 tons, capable of meeting the demand for approximately 8 GW of solar module covers, strongly supporting the rapid development of clean energy in Southeast Asia and surrounding regions. In the future, the company will continue to actively respond to the national “Belt and Road” initiative, deepening investment and cooperation in Indonesia.

CICC pointed out that Xinyi Solar already has one 1,200-ton production line in Indonesia that recently came into operation. The bank expects another line to be soon operational, achieving full production and sales within the year. The company’s overseas capacity accounts for 24.7% of its total production capacity. Based on overseas module demand and glass supply, the bank estimates that the company still needs to export 10-15% of its domestic products overseas. Coupled with overseas shipments, the bank believes that the company’s total overseas shipment proportion will exceed 35%. The long-term overseas profit margin for photovoltaic glass is higher than that domestically, and the profit margin center is expected to shift upward compared to last year.