Xinte Energy Co., Ltd. Class H (HK:1799) has released an update.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Xinte Energy Co., Ltd. anticipates a significant net loss of RMB780 million to RMB950 million for the first half of 2024, in stark contrast to the net profit of RMB4.759 billion in the same period of 2023. The loss is primarily due to a substantial decrease in the average selling price of polysilicon, despite increased production and sales volumes, reduced production costs, and growth in the photovoltaic and wind power sectors. Investors are cautioned as these preliminary results are unaudited and may not fully represent the half-year’s financial outcome.
For further insights into HK:1799 stock, check out TipRanks’ Stock Analysis page.