HK Stock Market Move | Photovoltaic stocks continue to rebound. The impact of U.S. tariffs on photovoltaic manufacturing is limited. Expectations for supply-side reform in the industry are increasing.

Photovoltaic stocks continue to rebound. As of the time of writing, XINYI SOLAR (00968) rose by 4.43% to HK$2.59, IRICO NEWENERGY (00438) rose by 4.35% to HK$2.16, GCL TECH (03800) rose by 3.85% to HK$0.81, and FLAT GLASS (06865) rose by 3.19% to HK$8.74. On the news front, on the afternoon of April 9th local time, Trump announced that he has authorized a 90-day tariff suspension for countries that do not retaliate, and immediately increased tariffs on China to 125%. BOCOM INTL released a research report stating that as the US had previously imposed at least a 25% tariff on Chinese mainland photovoltaic products, China has basically stopped exporting photovoltaic products to the US, so the impact of the US's additional tariffs on China's photovoltaic capacity is minimal. Shanxi previously pointed out that the 7.9 magnitude earthquake in Myanmar has had a significant impact on the western production areas of photovoltaic silicon rods, even affecting parts of Yinchuan and Inner Mongolia. Currently, the impact on more distant areas is mainly due to broken lines, which are expected to be restored in the short term. However, Yunnan and Yibin regions are more seriously affected, and some manufacturers have even experienced explosions in pots, rods, and furnaces, which may have an impact on future long-term operations. Industrial also stated that with the enhancement of supply-side reform expectations, the photovoltaic industry is expected to gradually recover.