Summary by Moomoo AI
Xinte Energy Co., Ltd. ("Xinte Energy") issued a profit warning, announcing an unaudited net loss of RMB 780 million to RMB 950 million in the first half of 2024, which is in sharp contrast to the net profit of RMB 4.759 billion recorded in the same period of 2023. The company pointed out that although the production capacity and sales volume of polycrystalline silicon business increased in the first half of 2024, the production cost also decreased, the average selling price of polycrystalline silicon decreased sharply due to changes in market supply and demand, resulting in significant impact on profits. In addition, although the company has steady growth in photovoltaic, wind power resource development, construction, operation, and key equipment manufacturing businesses, these growths do not contribute...Show More
