The photovoltaic sector's AH shares are weak, with GCL TECH continuing to decline by 6%. It is reported that the polysilicon industry's capacity acquisition platform has not yet been put into operation

The Federal Reserve lowered interest rates by 25 basis points as expected. The Hong Kong stock market opened higher on the morning of the 11th, rising 169 points initially, but the gains narrowed, and it once fell by 34 points, hitting a low of 25,506. Near noon, it closed at 25,554, up 13 points or less than 0.1%, with a turnover of HKD 94.226 billion.

The photovoltaic sector's H-shares and A-shares were weak. GCL TECH (03800.HK) opened flat after a 4.2% drop the previous day and then declined, reaching a low of HKD 1.04. It last reported at HKD 1.06, continuing to drop by 6.19%, with a turnover of HKD 5.92 billion. Flat Glass Group (06865.HK) fell by 2%, while Xinyi Solar (00968.HK) and New Energy (01799.HK) dropped by 1% to 1.1%. Additionally, LONGi Green Energy (601012.SH), Tongwei Co., Ltd. (600438.SH), and Daqo New Energy (688303.SH) fell by 1.1% to 2.4%.

Recent reports from domestic media indicate that the polysilicon industry is promoting "anti-involution." Beijing Guanghe Qiancheng Technology Co., Ltd. (Guanghe Qiancheng) was officially registered on the 9th and is viewed by the industry as a long-awaited platform for the consolidation and acquisition of polysilicon production capacity. Insiders indicate that Guanghe Qiancheng primarily explores potential strategic cooperation opportunities within the industry, such as technology upgrades, market expansion, and optimization of production capacity and costs.

However, according to an on-site interview conducted by the Science and Technology Innovation Board Daily on the 10th at its Beijing registered address, Guanghe Qiancheng has not yet officially commenced operations and is still in the preparatory stage