Daiwa Expresses Pessimism About China's Solar Sector, Argues Market is Overly Hopeful About Profitability
Daiwa's Outlook on Solar Industry: Daiwa has a negative view on the solar industry in Mainland China, suggesting that market expectations for profitability in 2025 are overly optimistic, which could negatively impact solar stock prices.
DAQO New Energy Corp. Rating: The broker maintains an Outperform rating for DAQO New Energy Corp. (DQ.US), citing its long-term investment value due to its net cash value exceeding market value.
XINYI ENERGY and FLAT GLASS Ratings: XINYI ENERGY (03868.HK) is rated Hold with a target price increase to HKD0.9, while FLAT GLASS (06865.HK) and XINYI SOLAR (00968.HK) are rated Underperform, with significant reductions in their earnings forecasts.
Short Selling Data: The report includes short selling data for various companies, indicating varying levels of short interest, with XINYI SOLAR showing a notably high short selling ratio of 27.066%.
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XINYI SOLAR Reports Full-Year Net Profit of RMB 845 Million, Decrease of Approximately 16%; Declares Dividend of $0.008
Financial Performance: Xinyi Solar reported a revenue of RMB20.861 billion for the year ending December 31, 2025, reflecting a 4.8% decrease year-over-year, while net profit fell by 16.2% to RMB845 million.
Earnings Per Share and Dividend: The company's earnings per share (EPS) stood at RMB9.29 cents, and a final dividend per share (DPS) of $0.8 cents was declared, contrasting with no dividend in the previous year.
Short Selling Data: The short selling amount for Xinyi Solar was reported at $43.87 million, with a short selling ratio of 21.557%.
Market Information: The stock quote for Xinyi Solar is delayed by at least 15 minutes, with short selling data as of February 27, 2026.
<Daily Summary> HSI Ends at 26,765, Gaining 175 Points; HSTI Finishes at 5,260, Dropping 10 Points; HAIDILAO Surges Over 6%; HSBC HOLDINGS, TINGYI, SINOPHARM, TIME INTERCON, and WANGUO GOLD GP Reach New Peaks; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) rose by 175 points (0.7%) to 26,765, while the Hang Seng Technology Index (HSTI) fell by 10 points (0.2%) to 5,260, and the Hang Seng China Enterprises Index (HSCEI) increased by 26 points (0.3%) to 9,034, with a total market turnover of $236.77 billion.
Active Heavyweights: Notable stock movements included PING AN (+1.9%), MEITUAN (+1.6%), and TENCENT (+0.5%), while XIAOMI (-0.4%) and HKEX (-0.3%) saw declines.
Significant Gainers: HAIDILAO surged by 6.2%, HSBC HOLDINGS rose by 5.5% to a new high, and LONGFOR increased by 4.6%, while XINYI SOLAR and WH GROUP experienced declines of 3.6% and 3.3%, respectively.
Noteworthy Stocks: RIMAG GROUP dropped significantly by 10.6%, while TIME INTERCON and WANGUO GOLD GP saw increases of 10.2% and 6.9%, respectively, with both hitting new highs.
Midday Update: HSI Ends at 26,789, Gaining 199 Points; HSTI Reaches 5,288, Up 17 Points; HAIDILAO Surges Over 5%; LI NING, SINOPHARM, CHINA RES MIXC, HENGAN INT'L, and MTR CORPORATION Achieve New Highs
Market Performance: The Hang Seng Index (HSI) rose by 199 points (0.8%) to 26,789, while the Hang Seng Tech Index (HSTI) and the Hang Seng China Enterprises Index (HSCEI) also saw gains of 17 points (0.3%) and 81 points (0.9%) respectively.
Active Heavyweights: Notable stocks included Meituan, Ping An, Tencent, and Alibaba, all experiencing increases in their share prices, with Meituan leading at a 2.3% rise.
Top Gainers: Among HSI and HSCEI constituents, Haidilao and Longfor showed significant gains of 5.8% and 4.6% respectively, while Xinyi Solar was the only notable loser, dropping by 3.0%.
Short Selling Activity: High short selling ratios were observed in several stocks, with Ping An and China Resources Land having ratios of 35.649% and 40.187% respectively, indicating significant market speculation.
<Full-day Summary> HSI Gains 668 Points; HSTI Rises 173 Points; MEITUAN Increases by Over 5%; BABA and XIAOMI Both Up Over 3%; LI NING, TECHTRONIC IND, SINOPHARM, SHK PPT, and HENDERSON LAND Reach New Peaks; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) rose by 668 points (2.5%) to close at 27,081, with significant gains also seen in the HSTI and HSCEI, which increased by 3.3% and 2.7% respectively, and a market turnover of $172.96 billion.
Top Gainers: Notable heavyweights included Meituan (+5.3%), Alibaba (+3.5%), and Xiaomi (+3.4%), all experiencing substantial increases in their stock prices along with significant short selling activity.
HSI & HSCEI Constituents: Companies like Zijin Mining (+5.3%), SMIC (+5.0%), and BYD Company (+4.7%) showed strong performance, with many stocks hitting new highs and notable short selling ratios.
HSMI & HSSI Highlights: Stocks such as Rept Battero (+15.4%) and Country Garden (+12.1%) saw remarkable increases, indicating a positive trend in smaller market segments.
<Midday Update> HSI Rises by 605 Points; HSTI Gains 173 Points; MEITUAN Surges Over 6%; BABA and TENCENT Both Increase by Over 3%; SHK PPT, TECHTRONIC IND, LI NING, HANG LUNG PPT, and HENDERSON LAND Reach New Peaks
Market Performance: The Hang Seng Index (HSI) rose by 605 points (2.3%) to 27,019, while the Hang Seng Tech Index (HSTI) increased by 173 points (3.3%) to 5,384, and the Hang Seng China Enterprises Index (HSCEI) gained 224 points (2.5%) to 9,183.
Top Gainers: Major stocks like Meituan, Alibaba, and Tencent saw significant increases, with Meituan up 6.9% to $86.35, Alibaba up 3.6% to $152.4, and Tencent up 3.4% to $539.5.
Notable Movers: Other notable stocks included Zijin Mining (+5.3%), SMIC (+4.5%), and JD (+4.2%), all experiencing substantial gains and varying levels of short selling.
Short Selling Activity: The short selling ratios for several stocks were high, with Xiaomi at 47.8%, CCB at 34.9%, and Li Ning at 43.2%, indicating significant market speculation on these companies.
<Midday Update> HSI Falls 484 Points; HSTI Declines by 89 Points; MEITUAN Drops More Than 4%; CLP HOLDINGS, TIANGONG INT'L, MINTH GROUP, and CH OVS G OCEANS Reach New Peaks
Market Performance: The Hang Seng Index (HSI) fell by 484 points (1.8%) to 26,547, while the Hang Seng Tech Index (HSTI) and the Hang Seng China Enterprises Index (HSCEI) also experienced declines of 1.6% and 1.7%, respectively.
Active Heavyweights: Major stocks like Meituan, Ping An, Alibaba, and Tencent saw significant drops, with Meituan down 4.5% and Tencent down 1.7%, amidst high short selling activity.
Notable Declines: Companies such as Zijin Mining and China Life faced substantial losses, with Zijin Mining dropping 5.2% and China Life down 4.9%, reflecting a broader trend of declining stock prices.
Gainers and Losers: Healthyway Inc. experienced a notable increase of 18.8%, while Mongol Mining and Fit Hon Teng saw significant declines of 13.7% and 11.3%, respectively, indicating volatility in the market.
XINYI SOLAR Reports Full-Year Net Profit of RMB 845 Million, Decrease of Approximately 16%; Declares Dividend of $0.008
Financial Performance: Xinyi Solar reported a revenue of RMB20.861 billion for the year ending December 31, 2025, reflecting a 4.8% decrease year-over-year, while net profit fell by 16.2% to RMB845 million.
Earnings Per Share and Dividend: The company's earnings per share (EPS) stood at RMB9.29 cents, and a final dividend per share (DPS) of $0.8 cents was declared, contrasting with no dividend in the previous year.
Short Selling Data: The short selling amount for Xinyi Solar was reported at $43.87 million, with a short selling ratio of 21.557%.
Market Information: The stock quote for Xinyi Solar is delayed by at least 15 minutes, with short selling data as of February 27, 2026.
<Daily Summary> HSI Ends at 26,765, Gaining 175 Points; HSTI Finishes at 5,260, Dropping 10 Points; HAIDILAO Surges Over 6%; HSBC HOLDINGS, TINGYI, SINOPHARM, TIME INTERCON, and WANGUO GOLD GP Reach New Peaks; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) rose by 175 points (0.7%) to 26,765, while the Hang Seng Technology Index (HSTI) fell by 10 points (0.2%) to 5,260, and the Hang Seng China Enterprises Index (HSCEI) increased by 26 points (0.3%) to 9,034, with a total market turnover of $236.77 billion.
Active Heavyweights: Notable stock movements included PING AN (+1.9%), MEITUAN (+1.6%), and TENCENT (+0.5%), while XIAOMI (-0.4%) and HKEX (-0.3%) saw declines.
Significant Gainers: HAIDILAO surged by 6.2%, HSBC HOLDINGS rose by 5.5% to a new high, and LONGFOR increased by 4.6%, while XINYI SOLAR and WH GROUP experienced declines of 3.6% and 3.3%, respectively.
Noteworthy Stocks: RIMAG GROUP dropped significantly by 10.6%, while TIME INTERCON and WANGUO GOLD GP saw increases of 10.2% and 6.9%, respectively, with both hitting new highs.
Midday Update: HSI Ends at 26,789, Gaining 199 Points; HSTI Reaches 5,288, Up 17 Points; HAIDILAO Surges Over 5%; LI NING, SINOPHARM, CHINA RES MIXC, HENGAN INT'L, and MTR CORPORATION Achieve New Highs
Market Performance: The Hang Seng Index (HSI) rose by 199 points (0.8%) to 26,789, while the Hang Seng Tech Index (HSTI) and the Hang Seng China Enterprises Index (HSCEI) also saw gains of 17 points (0.3%) and 81 points (0.9%) respectively.
Active Heavyweights: Notable stocks included Meituan, Ping An, Tencent, and Alibaba, all experiencing increases in their share prices, with Meituan leading at a 2.3% rise.
Top Gainers: Among HSI and HSCEI constituents, Haidilao and Longfor showed significant gains of 5.8% and 4.6% respectively, while Xinyi Solar was the only notable loser, dropping by 3.0%.
Short Selling Activity: High short selling ratios were observed in several stocks, with Ping An and China Resources Land having ratios of 35.649% and 40.187% respectively, indicating significant market speculation.
<Full-day Summary> HSI Gains 668 Points; HSTI Rises 173 Points; MEITUAN Increases by Over 5%; BABA and XIAOMI Both Up Over 3%; LI NING, TECHTRONIC IND, SINOPHARM, SHK PPT, and HENDERSON LAND Reach New Peaks; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) rose by 668 points (2.5%) to close at 27,081, with significant gains also seen in the HSTI and HSCEI, which increased by 3.3% and 2.7% respectively, and a market turnover of $172.96 billion.
Top Gainers: Notable heavyweights included Meituan (+5.3%), Alibaba (+3.5%), and Xiaomi (+3.4%), all experiencing substantial increases in their stock prices along with significant short selling activity.
HSI & HSCEI Constituents: Companies like Zijin Mining (+5.3%), SMIC (+5.0%), and BYD Company (+4.7%) showed strong performance, with many stocks hitting new highs and notable short selling ratios.
HSMI & HSSI Highlights: Stocks such as Rept Battero (+15.4%) and Country Garden (+12.1%) saw remarkable increases, indicating a positive trend in smaller market segments.
<Midday Update> HSI Rises by 605 Points; HSTI Gains 173 Points; MEITUAN Surges Over 6%; BABA and TENCENT Both Increase by Over 3%; SHK PPT, TECHTRONIC IND, LI NING, HANG LUNG PPT, and HENDERSON LAND Reach New Peaks
Market Performance: The Hang Seng Index (HSI) rose by 605 points (2.3%) to 27,019, while the Hang Seng Tech Index (HSTI) increased by 173 points (3.3%) to 5,384, and the Hang Seng China Enterprises Index (HSCEI) gained 224 points (2.5%) to 9,183.
Top Gainers: Major stocks like Meituan, Alibaba, and Tencent saw significant increases, with Meituan up 6.9% to $86.35, Alibaba up 3.6% to $152.4, and Tencent up 3.4% to $539.5.
Notable Movers: Other notable stocks included Zijin Mining (+5.3%), SMIC (+4.5%), and JD (+4.2%), all experiencing substantial gains and varying levels of short selling.
Short Selling Activity: The short selling ratios for several stocks were high, with Xiaomi at 47.8%, CCB at 34.9%, and Li Ning at 43.2%, indicating significant market speculation on these companies.
<Midday Update> HSI Falls 484 Points; HSTI Declines by 89 Points; MEITUAN Drops More Than 4%; CLP HOLDINGS, TIANGONG INT'L, MINTH GROUP, and CH OVS G OCEANS Reach New Peaks
Market Performance: The Hang Seng Index (HSI) fell by 484 points (1.8%) to 26,547, while the Hang Seng Tech Index (HSTI) and the Hang Seng China Enterprises Index (HSCEI) also experienced declines of 1.6% and 1.7%, respectively.
Active Heavyweights: Major stocks like Meituan, Ping An, Alibaba, and Tencent saw significant drops, with Meituan down 4.5% and Tencent down 1.7%, amidst high short selling activity.
Notable Declines: Companies such as Zijin Mining and China Life faced substantial losses, with Zijin Mining dropping 5.2% and China Life down 4.9%, reflecting a broader trend of declining stock prices.
Gainers and Losers: Healthyway Inc. experienced a notable increase of 18.8%, while Mongol Mining and Fit Hon Teng saw significant declines of 13.7% and 11.3%, respectively, indicating volatility in the market.
