Core Viewpoint - Xinyi Energy (03868.HK) announced the issuance of 66.4765 million shares as part of its scrip dividend scheme for the interim dividend for the six months ending June 30, 2025, scheduled for October 10, 2025 [1] Summary by Category - Company Announcement - Xinyi Energy will issue 66.4765 million shares under the scrip dividend plan [1] - The issuance is related to the interim dividend for the period ending June 30, 2025 [1] - The shares will be issued on October 10, 2025 [1]

Core Viewpoint - Xinyi Energy (03868) announced a plan to issue 66.4765 million shares as a scrip dividend on October 10, 2025, based on the interim dividend for the six months ending June 30, 2025 [1] Group 1 - The scrip dividend plan allows shareholders to receive shares instead of cash for the interim dividend [1] - The issuance of shares is part of the company's strategy to manage cash flow while rewarding shareholders [1]

第 1 頁 共 5 頁 v 1.3.0 FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 信義能源控股有限公司 呈交日期： 2025年10月10日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 03868 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 本月底法定/註冊股本總額： HKD 8,000,000,000 致：香港交易及結算所有限公司 公司名稱: 信義能源控股有限公司 呈交日期: 2025年10月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03868 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 800,000,000,000 | HKD | | 0.01 HKD | | 8,000,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 800,000,000,000 | HKD | | 0.01 HKD | | 8 ...

Core Viewpoint - The Hong Kong solar stocks experienced a significant increase in share prices on October 2, 2023, indicating positive market sentiment towards the solar energy sector [1] Company Summaries - Xinyi Solar (00968.HK) saw a rise of 9.01%, reaching HKD 3.75 [1] - Fuyao Glass (06865.HK) increased by 6.69%, trading at HKD 12.12 [1] - Xinyi Energy (03868.HK) rose by 3.13%, with shares priced at HKD 1.32 [1] - GCL-Poly Energy (03800.HK) experienced a 3.05% increase, with a share price of HKD 1.35 [1]

Core Viewpoint - The photovoltaic sector is experiencing a general rise in stock prices, driven by increasing prices of upstream materials and a recovering market for photovoltaic glass [1] Group 1: Stock Performance - Xinyi Solar (00968) increased by 9.01%, reaching HKD 3.75 - Flat Glass (601865) rose by 6.69%, reaching HKD 12.12 - Xinyi Energy (03868) saw a 3.13% increase, reaching HKD 1.32 - GCL-Poly Energy (03800) grew by 3.05%, reaching HKD 1.35 [1] Group 2: Price Trends - In September, prices for polysilicon, silicon wafers, cells, and photovoltaic modules all increased, with upstream prices rising more than downstream prices - Photovoltaic glass prices are gradually recovering due to reduced production from leading companies, lower industry inventory, and a contraction in supply [1] Group 3: Market Outlook - The overall market is currently weak following a period of preemptive installations, but centralized projects are driving installation demand - Future price stability in the photovoltaic industry is anticipated, influenced by terminal module price support and anti-involution measures - Upcoming policies regarding product sales pricing, mergers and acquisitions among companies, increased industry entry barriers, and enhanced product quality standards are expected to be implemented [1] Group 4: Industry Dynamics - The competitive landscape and ecosystem of the photovoltaic industry are likely to improve, presenting opportunities for valuation recovery [1]

Core Viewpoint - The solar stock sector is experiencing a general rise, driven by increasing prices in the photovoltaic supply chain, particularly in polysilicon, silicon wafers, batteries, and photovoltaic modules [1] Group 1: Stock Performance - Xinyi Solar (00968) increased by 9.01%, reaching HKD 3.75 [1] - Flat Glass Group (06865) rose by 6.69%, reaching HKD 12.12 [1] - Xinyi Energy (03868) saw a 3.13% increase, reaching HKD 1.32 [1] - GCL-Poly Energy (03800) increased by 3.05%, reaching HKD 1.35 [1] Group 2: Price Trends - In September, prices for polysilicon, silicon wafers, batteries, and photovoltaic modules all saw an increase, with upstream prices rising more than downstream prices [1] - Photovoltaic glass prices are gradually recovering due to production cuts by leading companies, reduced industry inventory, and a contraction in supply [1] Group 3: Market Outlook - The overall market is currently weak following a previous surge in installations, with centralized projects driving installation demand [1] - Future price stability in the photovoltaic industry chain is anticipated, influenced by terminal module price support and anti-competitive measures [1] - Upcoming policies regarding product sales pricing, mergers and acquisitions among companies, increased industry entry barriers, and enhanced product quality standards are expected to optimize the competitive landscape and industry ecosystem [1]

Group 1 - Hong Kong's Hang Seng Index fell by 0.97%, down 254 points, while the Hang Seng Tech Index dropped by 2.2% with a trading volume of 165.2 billion HKD in the morning session [1] - Congo has extended its cobalt export ban, leading to a rise of over 8.9% in the stock price of Liqin Resources (02245) [1] - Cloudwise Technology (01037) surged by 79% due to potential collaboration with UBTECH [1] - Kaizhile International (02122) saw a more than 12% increase after partnering with Pokémon IP to enter the collectible card game market [1] - HuiLiang Technology (01860) rose nearly 4.76% to a new high, driven by rapid growth from its smart bidding products, with institutions optimistic about the company's growth potential [1] - Shanggao Holdings (00412) increased by over 14%, maintaining normal business operations and announcing a buyback plan of up to 100 million USD [1] - Dazhong Public Utilities (01635) rose by 6.6%, with the company holding shares in Shenzhen Capital Group, and Moer Thread's IPO on the Sci-Tech Innovation Board is set to be reviewed [1] - Datang Gold (08299) surged over 20% in the morning after raising over 270 million HKD through a placement, with the controlling shareholder of Wanguo Gold Group becoming the second-largest shareholder [1] - Hong Kong Broadband (01310) rebounded over 17%, as its controlling shareholder, China Mobile Hong Kong, plans to place existing shares, and the company aims to meet public holding requirements promptly [1] - Solar stocks collectively declined, with institutions indicating that domestic polysilicon prices remain high and the supply-demand relationship in the industry has not significantly improved. New Special Energy (01799) fell by 4.18%, Flat Glass Group (06865) dropped by 4%, Xinyi Solar (00968) decreased by 2.6%, and Xinyi Energy (03868) fell by 3% [1] Group 2 - Airline stocks collectively declined due to unexpectedly weak demand for public transportation during the summer travel season, with institutions suggesting to monitor the sustainability of public transport recovery and avoid excessive competition. China Southern Airlines (01055) fell by 4.93%, Air China (00753) dropped by 3.98%, and China Eastern Airlines (00670) decreased by 2.27% [2]

Group 1 - The core viewpoint of the article indicates that photovoltaic stocks have collectively declined, with specific companies like New Special Energy, Fuyao Glass, Xinyi Solar, and Xinyi Energy experiencing notable drops in their stock prices [1] - Goldman Sachs reports that the stock prices of China's solar industry have risen since early July due to price increases in the upstream market, with domestic polysilicon prices rising approximately 40% from July to August [1] - Despite the price increases, Goldman Sachs believes that the current market has priced in a polysilicon price of 60 RMB per kilogram, which may be too high given the weak demand outlook and the accelerating cost reduction among leading companies [1] Group 2 - CICC notes that the photovoltaic industry has experienced a rush in installations in the first half of the year and price stabilization in the third quarter, which has somewhat alleviated operational pressures, although debt pressures remain significant [1] - The supply-demand relationship in the photovoltaic sector has not shown significant improvement, and the necessity for "anti-involution" remains [1] - Efforts from various ministries, associations, and companies are gradually clarifying the "anti-involution" plans, and while challenges remain, there is optimism regarding the continued progress of these initiatives and the resilience of the sector [1]

Core Viewpoint - The solar stock sector in China is experiencing a collective decline, influenced by rising upstream prices and a weak demand outlook, despite previous price increases in the polysilicon market [1][1]. Group 1: Stock Performance - New Special Energy (01799) fell by 4.18% to HKD 7.79 [1] - Fuyao Glass (06865) decreased by 3.86% to HKD 10.96 [1] - Xinyi Solar (00968) dropped by 2.1% to HKD 3.27 [1] - Xinyi Energy (03868) declined by 2.34% to HKD 1.25 [1] Group 2: Market Analysis - Goldman Sachs reported that the solar industry in mainland China saw stock prices rise since early July, driven by price increases in upstream materials, with multicrystalline silicon prices rising approximately 40% from July to August [1] - In September, companies indicated further price increases to offset additional costs from production quota controls and capacity acquisitions [1] - The market has priced in a polysilicon price of RMB 60 per kilogram, but this level appears too high given the weak demand outlook and the accelerating cost reduction among leading companies [1] Group 3: Industry Outlook - CICC noted that the photovoltaic industry experienced a rush in installations in the first half of the year and price stabilization in the third quarter, alleviating some operational pressures, although debt pressures remain significant and supply-demand dynamics have not improved markedly [1] - The necessity for "anti-involution" remains, with ongoing efforts from various ministries, associations, and companies leading to clearer solutions in certain areas, despite substantial challenges ahead [1] - The firm maintains a positive outlook on the continued advancement of "anti-involution" and the resilience of the sector [1]