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Gelonghui Announcement Highlights (Hong Kong Stocks) | XINYI GLASS (00868.HK) expects annual net profit to decrease by 30% to 40%.
[Today's Focus] XINYI GLASS (00868.HK) expects annual net profit to decrease by 30% to 40%. XINYI GLASS (00868.HK) announced that for the year ending December 31, 2024, the consolidated net profit attributable to the company's equity holders is expected to decrease by 30% to 40% compared to last year's net profit of RMB 4.883 billion. The decline in net profit is mainly due to the following reasons: (1) For the six months ending December 31, 2024, the group's float glass business revenue and gross profit have declined compared to the same period last year, which is attributed to the sluggish Real Estate market in China and the slowdown in new property projects.
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On December 27, Alibaba-W (09988.HK) spent 25.816 million US dollars to buy back 2.436 million shares.
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