Xinyi Glass Holdings ( (XYIGF) ) has released its Q4 earnings. Here is a breakdown of the information Xinyi Glass Holdings presented to its investors.
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Xinyi Glass Holdings Limited, a company incorporated in the Cayman Islands, is primarily engaged in the production and sales of float glass, automobile glass, and architectural glass, with operations in Mainland China and Malaysia. The company recently announced its financial results for the year ended 31 December 2024, highlighting a challenging year with decreased revenue and profit. Xinyi Glass reported a revenue of RMB 22,323.6 million, an 8.1% decline from the previous year, and a 31.0% drop in profit attributable to equity holders, amounting to RMB 3,369.2 million. The company’s earnings per share also fell by 32.6% to 79.23 RMB cents. The proposed final dividend per share saw a significant reduction of 73.0% to 10.0 HK cents. The decrease in revenue was primarily attributed to a significant drop in the average selling prices of float glass products both domestically and internationally, despite an increase in automobile glass revenue due to new orders from PRC car manufacturers. The company’s gross profit margin slightly improved to 32.4%, driven by higher selling prices of automobile glass products. Looking ahead, Xinyi Glass remains focused on cost control, production efficiency, and the development of innovative, high-value products. The management anticipates navigating through the current market challenges while exploring growth opportunities in the global market.