Xinyi Solar and Xinyi Glass Clarify Pricing on Connected Solar Power Sales

The latest announcement is out from Xinyi Solar Holdings ( (HK:0968) ).

Xinyi Solar Holdings and Xinyi Glass Holdings have issued a supplemental joint announcement clarifying the pricing mechanism for their continuing connected transactions under an Electricity Framework Agreement, which governs sales of surplus rooftop solar electricity from Xinyi Solar to Xinyi Glass. The companies explain that the annual cap of RMB35.4 million is based on prior purchasing levels and the maximum output of rooftop solar systems that can be transmitted without using the State Grid, and that the price paid by Xinyi Glass will not exceed its historical weighted average local electricity cost and will be set at a 15–20% discount to prevailing State Grid tariffs, benchmarked against other available third-party suppliers. Both boards emphasise that the arrangement is on normal commercial terms, agreed at arm’s length, and will be subject to strict internal controls, aiming to ensure that the connected transaction remains in line with market pricing while allowing Xinyi Solar to monetise surplus green power and Xinyi Glass to reduce its energy costs under a transparent framework.

The most recent analyst rating on (HK:0968) stock is a Buy with a HK$3.40 price target. To see the full list of analyst forecasts on Xinyi Solar Holdings stock, see the HK:0968 Stock Forecast page.

More about Xinyi Solar Holdings

Xinyi Solar Holdings is a Hong Kong–listed solar energy company that operates rooftop photovoltaic installations and supplies solar-generated electricity, while Xinyi Glass Holdings is a Hong Kong–listed glass manufacturer that consumes significant power for its production lines. The two affiliated groups engage in connected transactions for electricity supply, with Xinyi Solar selling surplus solar power directly to Xinyi Glass to optimise energy use and support cost-efficient, renewables-based production.

Average Trading Volume: 64,005,060

Technical Sentiment Signal: Sell

Current Market Cap: HK$29.09B

See more data about 0968 stock on TipRanks’ Stock Analysis page.