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Xinte Energy Co., Ltd. Class H ( (HK:1799) ) just unveiled an announcement.
Xinte Energy Co., Ltd. has issued a profit warning, anticipating a significant net loss for the year ending December 2024 due to a sharp decline in polysilicon prices and high production costs. The company has undertaken strategic overhauls and technological renovations to improve production efficiency, but the financial impact of these initiatives has been overshadowed by the falling market prices and necessary asset impairments, which include provisions for outdated equipment and unprofitable PV power stations.
More about Xinte Energy Co., Ltd. Class H
Xinte Energy Co., Ltd. is a company based in the People’s Republic of China, primarily operating in the photovoltaic (PV) industry. The company is involved in the production of polysilicon, a key material used in solar energy technologies, and also engages in the development of PV and wind energy resources, including key equipment such as inverters and energy routers.
YTD Price Performance: -1.34%
Average Trading Volume: 5,036,633
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$10.57B
For an in-depth examination of 1799 stock, go to TipRanks’ Stock Analysis page.
