3510766-m01annc

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.


XINYI GLASS HOLDINGS LIMITED

信 義 玻 璃 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 00868)


POSITIVE PROFIT ALERT FOR THE YEAR ENDING 31 DECEMBER 2015


This announcement is made by the Board pursuant to Rule 13.09(2) of the Listing Rules and the Inside Information Provisions.


Based on the currently available information, the Board wishes to inform the Shareholders and prospective investors of the Company that the 2015 Net Profit is expected to increase significantly by 45% to 60%, when compared with the net profit for the year ended 31 December 2014 of HK$1,363,680,000. The significant improvement in the profitability of the Group is principally due to (a) the reduction of cost of sales of the float glass business; (b) the continuous growth of the OEM and aftermarket automobile glass wholesale business with improvement in the gross profit margin; and (c) the increase in the profit contribution from Xinyi Solar.


The Board expects that the announcement of the audited consolidated results of the Group for the year ending 31 December 2015 will be published around early March 2016.


Shareholders and prospective investors of the Company are advised to exercise caution when dealings in the shares of the Company.


This announcement is made by the board (the "Board") of directors (the "Directors") of Xinyi Glass Holdings Limited (the "Company" which together with its subsidiaries, the "Group") pursuant to Rule 13.09(2) of The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the inside information provisions (the "Inside Information Provisions") under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong).

Following the review of the currently available information which includes, but without limitation to, the unaudited management accounts of the Group for the eleven months ended 30 November 2015, the Board wishes to inform the shareholders (the "Shareholders") of the Company and prospective investors of the Company that the amount of the consolidated net profit attributable to the owners of the Company for the year ending 31 December 2015 (the "2015 Net Profit") is expected to increase by approximately 45% to 60%, when compared with the same for the year ended 31 December 2014 of HK$1,363,680,000. The Directors consider that the significant improvement in the amount of the 2015 Net Profit is attributable to the following principal factors:-


  • the reduction in the cost of sales for float glass business as a result of the stringent cost control measures implemented by the Group and the benefits from the economies of scale achieved by the Group with increased production capacity;


  • the continuous growth in the OEM and aftermarket automobile glass wholesale business with stringent cost control measures implemented by the Group and improvement in the gross profit margin; and


  • the substantial increase in the share of profit generated from Xinyi Solar Holdings Limited ("Xinyi Solar") (Stock code: 00968), a company incorporated in the Cayman Islands with all the shares listed on the main board of The Stock Exchange of Hong Kong Limited, in which the Group holds 26.54% of the total number of the shares in issue as of the date of this announcement.


The Company is finalising the consolidated final results of the Group for the year ending 31 December 2015. Hence, the information disclosed in this announcement only represents a preliminary assessment by the Board and the management of the Group based on the information currently available to the Board. The audited consolidated final results of the Group may be subject to adjustments following further review by the Board, discussions with the auditors of the Company and completion of the required auditing procedures. The information in this announcement has not been reviewed by the auditors of the Company or the audit committee of the Board.


The Board expects that the announcement of the audited consolidated results of the Group for the year ending 31 December 2015 will be published around early March 2016.

Shareholders and prospective investors of the Company are advised to exercise caution when dealings in the shares of the Company.



Hong Kong, 15 December 2015

By order of the Board

Xinyi Glass Holdings Limited Datuk LEE Yin Yee, B.B.S.

Chairman


As of the date of this announcement, the executive Directors are Datuk LEE Yin Yee, B.B.S., Mr. TUNG Ching Bor, Mr. TUNG Ching Sai and Mr. LEE Shing Kan, the non-executive Directors are Mr. NG Ngan Ho, Mr. LI Ching Wai, Mr. SZE Nang Sze and Mr. LI Ching Leung and the independent non-executive Directors are Mr. LAM Kwong Siu, S.B.S., Mr. WONG Chat Chor Samuel, Mr. WONG Ying Wai, S.B.S., JP., Mr. TRAN Chuen Wah, John and Mr. TAM Wai Hung, David.


This announcement will be published on the website of the Stock Exchange at www.hkexnews.hk and on the website of the Company at www.xinyiglass.com.

Xinyi Glass Holdings Ltd. issued this content on 2015-12-18 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2015-12-18 03:28:42 UTC

Original Document: http://www.xinyiglass.com/cn/images/addsn3/201512181121927451.pdf