Added to YB: 2026-05-19
Pitch date: 2026-05-15
0968.HK [neutral]
Xinyi Solar Holdings Limited
-3.38%
current return
Author Info
No bio for this author
Company Info
Xinyi Solar Holdings Limited, an investment holding company, produces and sells solar glass products in Mainland China, rest of Asia, North America, Europe, and internationally.
Market Cap
HKD 23.8B
Pitch Price
HKD 2.96
Price Target
N/A
Dividend
1.67%
EV/EBITDA
6.33
P/E
27.98
EV/Sales
1.76
Sector
Semiconductors and Semiconductor Equipment
Category
turnaround
Xinyi Solar: Poised for another upcycle?
0968.HK (quick overview): World's largest solar glass maker at 30% market share. Industry capex peaked 2022, now declining -36% YoY. Demand likely underestimated - oil crisis + cheaper battery storage boosting solar adoption. Gross margins bottomed 2024, recovering to 14% Q1'26. Contract liabilities +14% 2025 signals inflection. Risk: CNY 4.9bn tariff receivables (135% of op profit) overdue 2+ yrs from gov't subsidies.
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