Xinyi Energy Expects Profit Drop in First Half of 2024

Xinyi Energy Holdings Limited (HK:3868) has released an update.

Xinyi Energy Holdings Limited has issued a profit warning, anticipating a decrease in net profit by 25% to 35% for the first half of 2024 compared to the same period in the previous year. The company attributes this downturn to reduced revenue from on-grid electricity sales due to grid capacity issues in certain provinces of China and an increase in depreciation charges after acquiring new solar farm projects. Shareholders and potential investors are advised to exercise caution when dealing with the company’s shares.

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