Xinyi Glass 0868

Re: Xinyi Glass 0868

Postby winston » Mon Sep 27, 2010 11:54 am

Not vested

DJ MARKET TALK: Xinyi Glass +3.4%; New Capacity Key Driver -JPM
Aug 3, 2010


1024 [Dow Jones] Xinyi Glass (0868.HK) +3.4% at HK$3.63 after ending flat yesterday on profit-taking after robust 1H results, with net profit +185% on-year at HK$642 million; strong results should dispel investors' previous concerns over lower demand for company's glass products from auto, property sectors.

JPMorgan says new capacity key growth driver in upcoming 2 years for Xinyi, with company planning doubling of glass production lines to 14 float glass lines, 3 photovoltaic glass lines by end-2011.

House raises FY10-11 net profit forecasts by 10.9%, 10.8%, to reflect stronger-than-expected profitability in 1H10, according raises target price to HK$5.70 from HK$5.50, keeps Overweight call.

Source: Dow Jones Newswire
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Re: Xinyi Glass 0868

Postby winston » Fri Nov 05, 2010 8:06 am

Not vested. From Dr. Check, The Standard HK:-

Investors can consider Xinyi Glass (0868), which regular readers know that I recommend from time to time.

It hit a 52-week high of HK$6.42 in late October. As Xinyi issued a 100 percent special bonus share in May, the stock price is equivalent to HK$12.22, thus clearing the high of HK$11.40 set in September 2007. In other words, the stock is at a record high now.

Looking at the glassmaker's earnings, there is strong ground to support the rally. For the financial years 2006 to 2009, net profit grew 49 percent, 72 percent, 5 percent and 9 percent, respectively. Its interim profit for the six months to June this year surged a hefty 185 percent.

Third-quarter float-glass sales soared 80 percent - equaling sales in the first half.

Xinyi is now trading at 15 times expected 2010 earnings. It is not expensive if you consider the firm is expanding production at its Anhui, Wuhu and Tientsin plants.

It has also just bought back another two million shares at around HK$6.02 each. So far this year, management has bought back 30.67 million shares, so why not follow them?


http://www.thestandard.com.hk/news_deta ... 01105&fc=8
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Re: Xinyi Glass 0868

Postby winston » Wed Dec 08, 2010 12:11 pm

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DJ MARKET TALK: Share Buybacks Offer Clues On Undervaluation
Oct 22, 2010

1052 [Dow Jones] Share buybacks could provide useful tip to find undervalued companies; 2 HK examples standing out Xinyi Glass (0868.HK).

Common denominators: repurchase is consistent, companies keep buying even when shares continue to rally, not other way around, latest results show improving business fundamentals - combination of these 3 could be powerful share price catalysts.

Xinyi +4.0% at HK$5.79 - setting fresh 52-week highs. SmarTone filing shows company bought back 10 million shares Wednesday, single biggest block repurchased by company since FY results out September 8; Xinyi last bought 2 million shares yesterday at HK$5.50-HK$5.59.


Source: Dow Jones Newswire
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Re: Xinyi Glass 0868

Postby winston » Thu Dec 16, 2010 7:37 am

Not vested. From Dr. Check, The Standard HK:-

Today, I'll focus on Xinyi Glass, (0868), which I have written about before. So far, it has not let me down.

During the financial tsunami, Xinyi's price fell from a peak of HK$11.40 to HK$1.50.

But on Monday, the stock rose to HK$6.64. It closed at HK$6.04 yesterday.

The company's products include photovoltaic glass, and glass for cars, construction and households.

Its net profit has grown each year, rising from HK$388 million in 2006 to HK$773 million last year. For the half year to June, net profit soared to HK$641 million.

JPMorgan expects Xinyi to make HK$2.5 billion in 2011 and targets it at HK$8.80. So this is one stock worth buying.

http://www.thestandard.com.hk/news_deta ... 01216&fc=7
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Re: Xinyi Glass 0868

Postby winston » Tue Feb 22, 2011 7:31 am

Xinyi's uptrend is crystal clear

A clear direction in mainland monetary policy will probably emerge when the annual National People's Congress is held next month.

Until then, let's focus on stocks that have potential for good earnings.

One of them is Xinyi Glass (0868), which I have mentioned a few times previously.

The company's products include photovoltaic glass and glass for automobiles and homes.

Its net profit has risen from HK$388 million in 2006 to HK$773 million in 2009. For the half year to June, net profit soared to HK$641 million.

Xinyi announces its full 2010 results on Monday, and JPMorgan expects it to make HK$2.52 billion.

Xinyi's business is so good it keeps expanding and building factories.

During the financial crisis its share price fell from a peak of HK$11.40 to HK$1.50. It has since recovered, closing yesterday at HK$6.88.

Xinyi currently trades at around 9.6 times expected earnings for 2011, and it looks attractive.


http://thestandard.com.hk/news_detail.a ... 10222&fc=2
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Re: Xinyi Glass 0868

Postby winston » Fri Mar 04, 2011 11:37 am

Not vested. From Dr. Check, The Standard HK:-

Xinyi makes car, construction, float and solar glasses. Profits soared 103 percent year-on-year in 2010.

For no reason, the stock was dumped last Thursday, falling 8 percent to HK$6.01. Apparently, some funds were selling.

Yesterday, it rose up to HK$7.40 - near a historical high. JPMorgan has a HK$9 target. Fund managers may not be always right!
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Re: Xinyi Glass 0868

Postby winston » Wed Mar 09, 2011 11:14 am

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DJ Xinyi Glass Plans To List Solar Glass Business In HK To Raise Around US$600 Mln - Sources

HONG KONG (Dow Jones)--Xinyi Glass Holding Ltd. (0868.HK) plans to list shares in its solar glass business in Hong Kong in the third quarter to raise around US$600 million, people familiar with the situation said Wednesday.

J.P. Morgan Chase & Co. and Citigroup are handling the deal, the people said.

Xinyi Glass said in a statement Feb. 28 it is considering a separate listing of the solar glass business on the main board of the Hong Kong stock exchange.


Source: Dow Jones Newswires
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Re: Xinyi Glass 0868

Postby winston » Wed Apr 13, 2011 3:00 pm

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DJ MARKET TALK: Xinyi Glass +2.4%; Tianjin Solar Plan Trial Run

1439 [Dow Jones] Xinyi Glass (0868.HK) rises 2.4% to HK$8.45 with volume already surpassing Tuesday's full-day, getting a lift from an announcement that its solar glass production line in Tianjin started a trial run Tuesday, with mass production expecting to take place mid-May at a capacity of 500 ton/day.

Solar glass is expected to become an earnings driver for Xinyi Glass going forward; the company had earlier said it's spinning off this division for a separate listing.

Kim Eng says the solar glass production line is also the largest and most advanced solar glass production line in Northeastern China; "we are positive on Xinyi's current development and we believe the company's top-line growth will maintain at high growth rate, driven by aggressive expansion plans and ASP hike."


Source: Dow Jones Newswire
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Re: Xinyi Glass 0868

Postby winston » Wed May 11, 2011 2:26 pm

Not vested. How can the difference be so great ?

DJ MARKET TALK: Citi Raises Xinyi Target To HK$10.70 From HK$7.50

1348 [Dow Jones] STOCK CALL: Citigroup raises Xinyi Glass (0868.HK) target price to HK$10.70 from HK$7.50 to reflect higher earnings estimates and its new FY11 target P/E of 14.8X (a 50% premium to the average P/E since its IPO) vs its previous target P/E of 12.0X; it keeps the stock at Buy.

"We raise our target multiple to reflect higher earnings growth and stronger than expected profitability," Citigroup says and adds, its target multiple is at a discount to leading China construction materials company Anhui Conch (0914.HK), which is trading at 16.3X FY11 P/E.

The house believes Xinyi's end-market expansion to ultra-thin electronic glass and geographical expansion to Northeast China via its planned new production base in Yingkou, Liaoning, will drive medium-term growth from 2012E and beyond. The stock is down 0.9% at HK$9.28.


Source: Dow Jones Newswire
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Re: Xinyi Glass 0868

Postby winston » Fri Jul 22, 2011 7:16 am

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Let's look at Xinyi Glass (0868). The stock, which is one of my favorites, fell quite a lot recently.

The company makes glass for the automobile, construction and solar power industries. From a trough in 2009, the stock has risen six times.

Recent declines were prompted by the firm downsizing the initial public offering of its solar glass unit. The stock touched HK$6.32 yesterday before closing at HK$6.70. Currently, it trades at around a reasonable 9.5 times 2011 projected earnings. At this level, you have no reason to sell.


Source: Dr. Check, The Standard HK
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