香港交易及結算所有限公司及香港聯合交易所有限公司對本通函之內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不對因本通函全部或任何部分內容而產生或因依賴該等內容而引致之任 何損失承擔任何責任。 XINTE ENERGY CO., LTD. 新特能源股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1799） 此乃要件 請即處理 閣下如對本通函任何方面或應採取的行動有任何疑問，應諮詢 閣下的股票經紀或其他註冊證券交易商、 銀行經理、律師、專業會計師或其他專業顧問。 閣下如已將名下的新特能源股份有限公司股份全部售出或轉讓，應立即將本通函及隨函附奉的委任代表表 格送交買主或承讓人，或送交經手買賣或轉讓的銀行、股票經紀或其他代理商，以便轉交買主或承讓人。 修訂現有持續關連交易年度上限； 及 2025年第三次臨時股東大會通告 獨立董事委員會及獨立股東之獨立財務顧問 滙富融資有限公司 董事會函件載於本通函第4至15頁。載有獨立財務顧問滙富融資有限公司致獨立董事委員會 及獨立股東建議及推薦意見之函件載於本通函第17至26頁，以及獨立董事委員會函件載於 本通函第16頁。 載於本通函第EGM ...

Core Viewpoint - The photovoltaic stocks continue to rise, driven by news of a planned restructuring platform for polysilicon, which is expected to create a fund of approximately 70 billion yuan for acquisitions [1][1]. Group 1: Stock Performance - Xinyi Solar (00968) increased by 5.42%, trading at 3.89 HKD [1]. - Flat Glass (601865) rose by 4.79%, reaching 12.69 HKD [1]. - New Energy (01799) saw a 2.48% increase, priced at 8.68 HKD [1]. - GCL-Poly Energy (03800) gained 2.17%, trading at 1.41 HKD [1]. Group 2: Industry Developments - A consortium for the restructuring of polysilicon is in the planning stages, with specific acquisition details still under discussion [1]. - The consortium is expected to establish a fund of around 70 billion yuan, utilizing a leveraged acquisition strategy [1]. - GCL-Poly's chairman indicated that 17 leading companies have largely agreed to form the consortium, with completion anticipated by 2025 [1]. Group 3: Market Trends - According to a report from Industrial Securities, the third quarter saw a rise in polysilicon prices due to anti-competitive measures, leading to a reduction in losses for the photovoltaic main chain [1]. - The photovoltaic industry is expected to experience a quarter-on-quarter improvement in performance, supported by both anti-competitive measures and structural opportunities from supply-side reforms and technological changes [1].

Group 1 - The core viewpoint of the news highlights a significant rally in Hong Kong's photovoltaic solar stocks, driven by the anticipation of a restructuring "joint platform" for polysilicon companies, with a proposed fund size of around 70 billion yuan [1] - Major solar companies such as GCL-Poly Energy and Xinyi Solar have seen substantial stock price increases, with GCL-Poly rising by 7.25% and Xinyi Solar by 6.78% [2] - The restructuring initiative involves 17 leading companies agreeing to form a consortium, with plans to complete the process by 2025 [1][2] Group 2 - The stock performance of key companies includes GCL-Poly Energy with a market cap of 45.155 billion yuan and a year-to-date increase of 37.04%, and Xinyi Solar with a market cap of 36.039 billion yuan and a year-to-date increase of 27.18% [2] - Other notable performers include LONGi Green Energy and Sunshine Energy, both showing significant gains of over 5% [1][2] - The restructuring is expected to leverage 10 billion yuan to facilitate a 70 billion yuan acquisition through a debt-based approach [1]

Group 1 - The core viewpoint of the article highlights the recent upward trend in solar stocks, with notable increases in share prices for companies such as Xinyi Solar, Flat Glass, and New Special Energy [1][1][1] - A significant development is the planning of a "joint platform" for polysilicon restructuring, with discussions ongoing regarding the specifics of the acquisition [1][1][1] - The anticipated fund for this initiative is expected to be around 70 billion yuan, utilizing a leveraged acquisition strategy to mobilize 700 billion yuan [1][1][1] Group 2 - According to a report from Industrial Securities, the third quarter saw a rise in polysilicon prices driven by anti-competitive measures, indicating a trend of reduced losses in the solar industry [1][1][1] - The solar industry is projected to experience a dual benefit from improved quarterly performance and substantial support from anti-competitive measures, suggesting a potential recovery from the current cyclical low [1][1][1] - There is a recommendation to actively invest in the anti-competitive market trends, with a focus on supply-side reform expectations and structural opportunities arising from new technological changes [1][1][1]

Group 1 - Hong Kong photovoltaic stocks experienced a significant rise, with Xinyi Solar increasing by over 5% and Fuyao Glass by 4.38% [1] - Major progress has been made in addressing the issue of overcapacity in the photovoltaic sector, with leading companies negotiating mergers and acquisitions with smaller firms [1] - GCL-Poly Energy's chairman announced that 17 silicon material companies have agreed to form a consortium, expected to be established by 2025 [1] Group 2 - The consortium will consist of no more than 10 leading silicon material companies and financial institutions, aiming to create a platform company for silicon materials [1] - The platform company will acquire the production capacity of other silicon material companies, with options for these companies to either invest in the platform or be bought out [1] - The industry anticipates that this initiative will rapidly reduce the production capacity within the silicon material sector and coordinate production and sales across the industry [1]

Core Viewpoint - The photovoltaic sector is experiencing a collective rise in stock prices, driven by industry developments and policy reforms aimed at improving profitability and supply chain dynamics [1][2]. Group 1: Stock Performance - New Special Energy (01799) increased by 4.45%, reaching HKD 8.45 [1] - Xinyi Energy (03868) rose by 3.94%, trading at HKD 1.32 [1] - Xinyi Solar (00968) saw a 3.64% increase, priced at HKD 3.7 [1] - Fuyao Glass (600660) (03606) gained 2.02%, with a price of HKD 9.59 [1] Group 2: Industry Developments - CCTV2's "Economic Half Hour" reported on the photovoltaic industry, highlighting high-quality development practices [1] - 17 companies have nearly signed agreements to form a consortium, expected to be completed within the year [1] - Zhu Gongshan, Chairman of GCL Group, emphasized the importance of multi-crystalline silicon as a key focus for supply-side reforms [1] Group 3: Price and Profitability Trends - The "anti-involution" initiative has led to an expansion of participants and significant price recovery in the multi-crystalline silicon sector [2] - By Q3 2025, the multi-crystalline silicon industry is expected to increase prices above the comprehensive cost line due to regulatory requirements [2] - Daqo Energy reported a net profit of CNY 73.48 million in Q3 2025, marking the end of five consecutive quarters of losses [2] - GCL-Poly Energy's photovoltaic materials business also returned to profitability in Q3 [2] - The industry is witnessing accelerated supply-side reforms, with clear indications of price and profitability recovery [2]

Group 1 - The core viewpoint of the article highlights a collective rise in Hong Kong's photovoltaic concept stocks, indicating positive market sentiment in this sector [1] Group 2 - New Special Energy (01799.HK) saw an increase of 4.45%, reaching HKD 8.45 [1] - Xinyi Energy (03868.HK) rose by 3.94%, trading at HKD 1.32 [1] - Xinyi Solar (00968.HK) experienced a 3.64% increase, priced at HKD 3.7 [1] - Fuyao Glass (03606.HK) gained 2.02%, with a current price of HKD 9.59 [1]

Group 1 - The photovoltaic stocks have collectively risen, with notable increases in New Special Energy (up 4.45% to HKD 8.45), Xinyi Energy (up 3.94% to HKD 1.32), Xinyi Solar (up 3.64% to HKD 3.7), and Fuyao Glass (up 2.02% to HKD 9.59) [1] - CCTV2's report on the photovoltaic industry highlighted high-quality development practices, with 17 companies having signed agreements to form a consortium, expected to be completed within the year [1] - Shenwan Hongyuan indicated that polysilicon is a key focus for the "anti-involution" strategy, and the establishment of a joint platform will accelerate supply-side reforms in polysilicon [1] Group 2 - The "anti-involution" initiative has seen an expansion of participants and significant price recovery effects, with the polysilicon industry expected to start price increases by Q3 2025 under the "not below cost sales" regulation [2] - Price increases have led to a notable recovery in corporate profitability, with Daqo Energy reporting a net profit of CNY 73.48 million in Q3 2025, ending five consecutive quarters of losses [2] - GCL-Poly's photovoltaic materials business also returned to profitability in Q3, indicating that supply-side reforms are accelerating and the price and profit bottom for the industry have been established [2]

（股份代號：1799） 延遲寄發有關修訂現有持續關連交易年度上限的通函 茲提述新特能源股份有限公司（「本公司」）日期為2025年10月14日的公告（「該公 告」），內容有關（其中包括）補充框架協議。除另有界定者外，本公告所用詞彙 具有該公告所界定的相同涵義。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 XINTE ENERGY CO., LTD. 新特能源股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 中國，新疆 2025年11月5日 於本公告日期，董事會成員包括執行董事張建新先生、楊曉東先生、黄芬女士及呼維軍先生； 非執行董事張新先生及黃漢杰先生；獨立非執行董事崔翔先生、陳維平先生及譚國明先生。 該公告內提及，一份載有以下內容的通函（「該通函」）預期將於2025年11月5日 或之前發送予股東，其中包括：(i)有關補充框架協議項下經修訂年度上限的進 一步資料；(ii)獨立財務顧問出具的意見函件；(iii)獨立董事委員會的推薦意見； (i ...

Core Insights - The Ministry of Industry and Information Technology (MIIT) has released the latest list of companies that meet the "Photovoltaic Manufacturing Industry Standard Conditions," with a total of 129 companies recognized as compliant. Jiangsu Province leads with 35 companies, highlighting its central role in the photovoltaic industry [1][9]. Group 1: Industry Overview - Jiangsu Province has the highest number of compliant photovoltaic manufacturing companies, with a concentration in downstream sectors such as batteries and modules, showcasing its core position in the industry [1]. - The distribution of compliant companies in Jiangsu reflects a cluster development characteristic, with cities like Changzhou, Suzhou, and Yangzhou playing significant roles in the photovoltaic supply chain [9]. Group 2: Company Listings - The list includes major companies across various segments, such as polysilicon, silicon ingots, and modules, indicating a comprehensive industry chain in Jiangsu [9]. - Notable companies include Tongwei Co., Ltd. and Trina Solar, which are recognized for their production bases in the region [9]. Group 3: Regulatory Changes - The updated "Photovoltaic Manufacturing Industry Standard Conditions" for 2024 introduces new standards for production efficiency and capital requirements, aiming to enhance technological innovation and product quality [10][11]. - The minimum capital requirement for new and expanded photovoltaic manufacturing projects has been raised to 30%, encouraging companies to focus on innovation rather than merely expanding capacity [11].