HK Stock Market Move | XINTE ENERGY (01799) fell over 8% in the afternoon as the polysilicon market continues to wait and see, remaining without transactions for two consecutive weeks.

XINTE ENERGY (01799) fell over 8% in the afternoon; as of the time of writing, it had dropped 7.96% to HKD 4.28, with a trading volume of HKD 11.8979 million. On the news front, on August 12, the Silicon Industry Association announced the latest price of polysilicon. This week, there have been no orders, and companies have suspended quotations. The Association stated that all parties are currently observing the effects of industry regulations and the operational status of the supply chain, waiting for a new consensus to gradually form. It is reported that eight leading domestic polysilicon companies recently signed an "anti-involution" "Initiative." However, some analysts pointed out that this initiative is a self-regulation document for the industry, and the actual strength of supply contraction remains to be seen. Whether silicon material prices have truly reached a turning point still depends on the subsequent quotations from leading companies like Tongwei Co., Ltd. and GCL TECH, as well as the acceptance of these prices by downstream purchasers.