GCL-Poly Energy Holdings Ltd. (3800), the
world’s biggest polysilicon maker, rose the most in more than
seven months after prices of the raw material used in most solar
panels advanced to the highest since October 2012.
The stock jumped as much as 7.9 percent, headed for the
biggest gain since May 21, to HK$2.86 and traded at HK$2.84 as
of 11:21 a.m. local time in Hong Kong. The benchmark Hang Seng
Index declined as much as 0.4 percent.
Polysilicon prices recovered from a December 2012 record
low early last year after producers cut output to curb a supply
glut. The average spot price rose last week at the fastest pace
since June, advancing 2.6 percent to $18.32 a kilogram compared
with $17.86 a week ago, according to data compiled by Bloomberg.
“Polysilicon prices have been keeping up for the last six
weeks and were up again yesterday,” Michael Parker, a Hong
Kong-based analyst at Sanford C. Bernstein Co., said. A
positive outlook for the industry is also contributing to the
stock’s gain, he said.
Yingli Green Energy Holding Co. (YGE), the world’s biggest solar-panel maker, expects as early as next quarter to post its first
three-month profit since 2011 as demand climbs and cost controls
show results, Chief Financial Officer Wang Yiyu said Jan. 7. He
expects global solar installations to reach 50 gigawatts this
year compared with 40 gigawatts in 2013.
To contact Bloomberg News staff for this story:
Feifei Shen in Beijing at
To contact the editor responsible for this story:
Reed Landberg at