Xinyi Glass Holdings (HK:0868) has released an update.
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Xinyi Glass Holdings has issued a profit warning, expecting a 30% to 40% decrease in net profit for 2024 compared to the previous year. The decline is attributed to reduced revenue from their float glass business due to a sluggish real estate market in China, losses from halted production facilities, and decreased profits from their associate company, Xinyi Solar Holdings. Investors are advised to approach trading with caution as the financial results are yet to be finalized.
For further insights into HK:0868 stock, check out TipRanks’ Stock Analysis page.
