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    868   KYG9828G1082

XINYI GLASS HOLDINGS LIMITED

(868)
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Xinyi Glass Holdings Limited Provides Unaudited Consolidated Earning Guidance for the Six Months Ending 30 June 2021

06/16/2021 | 09:36am EDT

Xinyi Glass Holdings Limited provided unaudited consolidated earning guidance for the six months ending 30 June 2021. The Board informed the shareholders (the "Shareholders") of the Company and the prospective investors of the Company that the amount of the unaudited consolidated net profit attributable to the equity holders of the Company (the "Net Profit") for the six months ending 30 June 2021 is expected to increase by 260% to 290% to the range between HKD 4,976.6 million and HKD 5,391.4 million, as compared to the Net Profit of HKD 1,382.4 million for the six months ended 30 June 2020. The significant improvement in the Net Profit for the six months ending 30 June 2021 is principally due to the following principal factors: (a) the significant increase in the average selling prices and the sales volume for the float glass business during the first half of 2021 as a result of the strong float glass demand in the PRC construction sector, as compared to the same period for the six months ended 30 June 2020; and (b) the significant increase in the amount of profit contribution from Xinyi Solar Holdings Limited ("Xinyi Solar") (Stock code: 00968), a company incorporated in the Cayman Islands and an associate company of the Company, for the six months ending 30 June 2021.


ę S&P Capital IQ 2021
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Financials
Sales 2021 29 212 M 3 752 M 3 752 M
Net income 2021 12 172 M 1 563 M 1 563 M
Net Debt 2021 1 539 M 198 M 198 M
P/E ratio 2021 7,73x
Yield 2021 6,17%
Capitalization 94 191 M 12 099 M 12 098 M
EV / Sales 2021 3,28x
EV / Sales 2022 2,80x
Nbr of Employees 14 059
Free-Float 41,9%
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Mean consensus BUY
Number of Analysts 17
Last Close Price 23,40 HKD
Average target price 39,58 HKD
Spread / Average Target 69,2%
EPS Revisions
Managers and Directors
Ching Sai Tung Chief Executive Officer & Executive Director
Sik Yuen Lau Chief Financial Officer & Secretary
Yin Yee Lee Executive Chairman
Kwong Siu Lam Independent Non-Executive Director
Chat Chor Wong Independent Non-Executive Director
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