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Xinyi Glass Holdings ( (HK:0868) ) has provided an update.
Xinyi Solar and Xinyi Glass have issued a supplemental joint announcement clarifying the pricing mechanism under their Electricity Framework Agreement for continuing connected transactions involving the sale of surplus electricity generated by Xinyi Solar’s rooftop solar panels to Xinyi Glass. The parties explained that the annual transaction cap of RMB35.4 million is based on historical electricity purchases and the maximum output that can be transmitted directly from Xinyi Solar’s rooftop systems to Xinyi Glass without using the State Grid, and that the agreed charges will not exceed the historical weighted average electricity rate paid by Xinyi Glass at the relevant locations. Under the arrangement, Xinyi Glass will benchmark the Xinyi Solar tariff against prevailing State Grid rates and independent third-party quotations where available, and Xinyi Solar will apply a 15%–20% discount to the State Grid rate to determine the monthly electricity bills, a structure the boards say reflects arm’s-length, market-comparable terms and will be subject to strict internal control procedures. The clarification underscores both companies’ efforts to monetise surplus solar generation, manage energy costs and demonstrate regulatory compliance in related-party energy supply transactions.
The most recent analyst rating on (HK:0868) stock is a Hold with a HK$8.50 price target. To see the full list of analyst forecasts on Xinyi Glass Holdings stock, see the HK:0868 Stock Forecast page.
More about Xinyi Glass Holdings
Xinyi Glass Holdings Limited is a Hong Kong–listed glass manufacturer with diversified operations in float glass, automotive glass and architectural glass, while its affiliate Xinyi Solar Holdings Limited develops and operates solar energy projects, including rooftop photovoltaic installations. Together, the groups serve both construction and automotive end-markets and increasingly leverage in-house solar generation to support energy needs of glass production facilities in mainland China.
Average Trading Volume: 8,788,981
Technical Sentiment Signal: Buy
Current Market Cap: HK$37.3B
Find detailed analytics on 0868 stock on TipRanks’ Stock Analysis page.