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Pay attention to cost-effectiveness and focus on this direction!
Peak season is approaching.
[Brokerage Focus] Guoyuan International maintains a "buy" rating for Xinyi Solar (00968). It is expected that the photovoltaic glass production capacity tightening policy will continue, and the company will further increase its market share.
According to the research report released by Guosen International, Xinyi Solar (00968) achieved revenue of approximately HKD 12.687 billion in H1 2024, a YoY growth of 4.5%; gross profit was approximately HKD 3.406 billion, a YoY growth of 27.5%; the profit attributable to shareholders was approximately HKD 1.963 billion, a YoY growth of 41.0%; basic earnings per share was HKD 0.2203, and mid-term dividend per share was HKD 0.10 (dividend payout ratio of 45.4%). The Bank expects that the policy of tightening the production capacity of photovoltaic glass by the Ministry of Informatization and Industrialization will continue to benefit the clearance of industry capacity, and after the completion of industry integration, the company, as a leading enterprise, is expected to demonstrate its expansion both domestically and overseas.
Downgrade: Here's How Analysts See Xinyi Solar Holdings Limited (HKG:968) Performing In The Near Term
Hong Kong stocks fluctuate | Flat Glass (06865) rose more than 10%, leading the photovoltaic stocks, and the silicon material prices may stabilize and rebound. The industry's overcapacity is expected to accelerate.
As PV stocks rise, as of press time, Flat Glass (06865) is up 10.39%, reporting HKD 12.36; GCL Tech (03800) is up 9.71%, reporting HKD 1.13; Xinyi Solar (00968) is up 3.71%, reporting HKD 3.63.
Guosen Securities: Maintains 'outperform' rating for Xinyi Solar (00968), expecting year-on-year improvement in profitability for photovoltaic glass in 2024H1.
Guosen Securities projects that Xinyi Solar (00968) will have a net income attributable to shareholders of 3.63/3.55/4.59 billion yuan for the years 2024-2026.
Earnings Update: Xinyi Solar Holdings Limited (HKG:968) Just Reported And Analysts Are Trimming Their Forecasts
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