Xinyi Glass (00868) issued an announcement for the year ended December 31, 2024 (2024 financial year...
According to Zhitong Finance App, Xinyi Glass (00868) announced that for the year ended December 31, 2024 (financial year 2024), the amount of comprehensive net profit (net profit) due to the company's equity holders is expected to be reduced by 30% to 40% compared to the net profit of RMB 4.883 billion for the year ended December 31, 2023 (fiscal year 2023). The decrease in net profit is mainly due to the following reasons:
In the six months ended December 31, 2024, compared with the same period last year, the Group's float glass business revenue and gross profit declined compared to the same period last year due to the slump in the Chinese real estate market, the number of new construction projects, a sharp drop in demand and market prices for float glass products in China; and a decrease in profit for the six months ended December 31, 2024, which should account for the six months ended December 31, 2024, Xinyi Solar Holdings Limited (stock code: 00968).
