Xinyi Glass 0868

Re: Xinyi Glass 0868

Postby winston » Thu Jun 12, 2014 1:45 pm

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<Research Report>XINYI GLASS (00868.HK) target hiked to $10, rated Overweight - JPM
Feb 27, 2014

JP Morgan stated although the 2013 financial results of XINYI GLASS (00868.HK) had missed forecast, the bank believed the industry will gain advantages from strong market demands for float glass and architectural glass, driven up robust construction projects in China.

2014 and 2015 earnings estimates were raised by 3.7% and 8.4%, and the bank projected the improving pricing will stimulate profit growth.

Target price rose from $9.8 to $10, and rating was retained at Overweight.

Source: AAStocks Financial News
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Re: Xinyi Glass 0868

Postby winston » Thu Jun 12, 2014 1:49 pm

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<Result Ann>XINYI GLASS (00868.HK) 2013 profit up 2x to $3.52B; div 14 cents
Feb 26, 2014

XINYI GLASS (00868.HK) announced the net profit attributable to the owners of the company for the year ended December 2013 rose 196.4% from a year ago, and basic earnings per share was 91.91 cents.

A final dividend of 14 cents was declared as compared to the year-ago 9 cents.

During the period, the company's revenue was $9.94 billion, up 17.8%; gross sales revenue reached $11.78 billion, up 20.4%.

Overall gross margin increased from 25.3% to 31.3%.

Source: AAStocks Financial News
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Re: Xinyi Glass 0868

Postby winston » Thu Jun 12, 2014 1:50 pm

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<Research Report>XINYI GLASS (00868.HK) rated Overweight with target cut to $8.2 - HSBC
Jan 16, 2014

HSBC predicted XINYI GLASS (00868.HK)'s recurring profit for the year 2013 will reach $2.216 billion, and such figure has not counted in the fair value gains from the spin-off of solar glass business (expected to be up to $1.35 billion).

The bank believed the company will maintain a stable and healthy outlook this year, and its construction glass business is expected to keep a strong growth with an expanded capacity.

Though the spin-off of XINYI SOLAR (00968.HK) may pose negative impact to the company's profit, its recurring net profit this year is expected to increase 4.7%.

Target price was trimmed from $9 to $8.2, and the Overweight rating was maintained unchanged.


Source: AAStocks Financial News
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Re: Xinyi Glass 0868

Postby winston » Thu Jun 12, 2014 2:23 pm

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Profit Warning

Based on the unaudited management accounts of the Group, the Board wishes to inform the Shareholders and the prospective investors of the Company that the
consolidated net profit attributable to the equity holders of the Company for the six months ending 30 June 2014 is expected to decrease by around 25.0% as compared with the same for the six months ended 30 June 2013 of HK$1,003.7 million.

The profit contribution from the solar glass division dropped due to the spin-off of the Xinyi Solar Holdings Limited (“Xinyi Solar”) on 12 December 2013.

The float glass division also operated in a difficult market environment in the second quarter of 2014, therefore, its gross profit margin has been reduced as compare to the same period of last year.

Because of the above factors, the expected overall profitability of the Group will be dropped for the six months ending 30 June 2014.

The Board expects that the announcement of the results of the Group for the six months ending 30 June 2014 would be published around the end of July 2014.

http://www.hkexnews.hk/listedco/listcon ... 611719.pdf
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Re: Xinyi Glass 0868

Postby winston » Mon May 11, 2015 6:27 am

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Xinyi seeks funding for solar projects by Imogene Wong

Xinyi Glass (0868) could subscribe for up to HK$624 million of convertible securities from its unit Xinyi Solar (0968).

The nation's largest solar glass maker is also seeking at most HK$2 billion of syndicated loan to fund its solar farm projects, the firm said in a statement yesterday.

Xinyi Solar raised HK$1.14 billion through a placing of new shares in March. It raised another HK$809 million from a share placement in July.

The firm said it has completed the construction and on-grid connection of three solar farms in Anhui and Fujian, with a total installed capacity of 280 megawatt, since December.

Another farm with capacity of 580 MW is expected to be finished this year, it said.

More companies are also seen to raise funds via placing shares.


Source: The Standard HK
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Re: Xinyi Glass 0868

Postby winston » Mon Jun 27, 2016 7:18 am

Xinyi looks through auto glass to new unit

by Esther Yu

The board of Xinyi Glass (0868) has approved a plan to spin off its automobile glass operation and to distribute all of its shares in the form of a special interim dividend, though the scheme needs to be cleared by regulators.

Xinyi said in a notice issued yesterday that shareholders are entitled to one share of Xinyi Automobile Glass Enterprises for every eight Glass shares.

The intention is to have the subsidiary listed on the Growth Enterprise Market board.

Fractions of shares will not be allotted to shareholders, the firm also said, and any such entitlements would be treated in a rounding-down manner then bundled up and sold to a third party, with proceeds going to shareholders accordingly.

If all goes to plan, a prospectus for a Hong Kong public offering could be issued tomorrow, and anyone buying Xinyi Glass shares after Wednesday would not be entitled to shares of Xinyi Automobile Glass Enterprises.

Given that there are 3.88 billion Xinyi Glass shares issued, Enterprises would number about 485 million shares.

The proposal will have to be approved by the stock exchange, and Xinyi Glass said it accepted there was no assurance the spin-off would happen as planned.

Xinyi Glass issued a positive profit alert last week, saying it expected a 30-45 percent increase in interim profit compared to last year, which had been achieved by a reduction in costs and a higher sales volume in its float glass business.

Source: The Standard
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Re: Xinyi Glass 0868

Postby winston » Wed Dec 14, 2016 9:07 am

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<Positive Profit Alert>XINYI GLASS (00868.HK) Expects Full Year Net Profit to Surge 40%-55%

XINYI GLASS (00868.HK) issued a positive profit alert, expecting the net profit for the year ending 31 December 2016 to increase significantly by 40% to 55%, when compared with the net profit for the year ended 31 December 2015.

The significant improvement in the profitability of the group is principally due to the reduction of costs of sales of the float glass business, the high growth of sales volume of the float glass business and the increase in the profit contribution from XINYI SOLAR (00968.HK).

Source: AAStocks Financial News
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Re: Xinyi Glass 0868

Postby winston » Wed Sep 06, 2017 3:17 pm

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This Chinese Glass Maker Has 58% Upside

By Adam Routh

JPMorgan has increased its target price on Xinyi Glass (868.HK) to HKD 12 a share, implying 58% upside, as it expects the Chinese glass maker to benefit from lower natural gas prices for non-residential users.

China's National Development and Reform Council (NDRC) lowered city gate prices of natural gas by CNY 0.10 per cubic metre with effect from September 1 in a bid to increase demand for cleaner fuels.

JPMorgan estimates that natural gas accounts for 40% of the cost of producing float glass (used in heavy construction) and 20% of the cost of producing auto glass.

The cost savings should see a reduction in selling prices but should also boost profit margins.

JPMorgan analyst Leon Chik explains:

In particular, float glass prices are at very high levels now and indicate a market shortage in many regions. This means XYG should be able to keep some of the gas savings and this should be reflected in higher GPM.

We note that more than half of the float glass producers are using oil or coal based heating and they will not be able to benefit from the lower cost of gas.

Shares of Xinyi Glass have gained 20% this year, propelled by China's booming property market and the stock yields more than 5%.

At under eight times forward earnings, the stock is also cut-price compared to other glass-making stocks in Asia, such as Japan’s Asahi Glass (5201.JP) which trades at 14.5 times.

Xinyi shares recently traded marginally up for the day at HKD7.71 a share.

Source: Barron's Asia

http://www.barrons.com/articles/this-ch ... 1504677710
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Re: Xinyi Glass 0868

Postby winston » Tue Sep 18, 2018 1:11 pm

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XINYI GLASS(868)

Analysis:

Xinyi Glass`s turnover reached HK$7747.8m in 1H 2018,up 16.0% YoY.

Net profit reached HK$2007.5m, representing an increase of 22.7% YoY.

Its float glass turnover rose 14.4% YoY to HK$4138.6m in 1H 2018,automobile glass turnover rose 13.1% YoY to HK$2116.2m,and architectural glass turnover rose 25.8% YoY to HK$1493.0m in 1H 2018.

The Company`s blended gross margin was 37.7% in 1H 2018,an improvement from 36.4% in 1H 2017.

Xinyi Glass declared an interim dividend of HK$0.25 per share in 1H 2018 with a high 47.8% dividend payout ratio.

Strategy:
Buy-in Price: $8.90, Target Price: $13.00, Cut Loss Price: $6.10

Source: Phillips
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Re: Xinyi Glass 0868

Postby winston » Tue Apr 19, 2022 6:32 pm

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XINYI GLASS(868)

Analysis:
The company's revenue in 2021 report HK$30.46 billion, up 63.6% year-on-year, and the net profit attributable to the parent is about HK$11.56 billion, up 79.9% year-on-year, which is the high quantile of the previous performance forecast range of 70%~85%); 2021 EPS is about HK$2.88;

The company's annual dividend rate in 2021 is 49.5%, and the high dividend policy will continue.

In the early stage, the company and its associate company Xinyi Solar set up a joint venture company to lay out the polysilicon field.

In the future, it is expected to become the main material supplier of global solar modules and increase the profit level.

The company's existing business production capacity continued to expand. In the second half of last year, the company acquired four float production lines in Hainan Province, which further strengthened the market coverage in southern China.

Strategy:
Buy-in Price: $18.02, Target Price: $24.30, Cut Loss Price: $14.48

Source: Phillips
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