Xinyi Solar Holdings (HK:0968) has released an update.
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Xinyi Solar Holdings warns investors of a significant decrease in its net profit for 2024, expecting a drop of 70% to 80% compared to the previous year. This decline is attributed to reduced revenue and gross profit from its solar glass business due to market imbalance, impairment of production facilities, and inventory write-downs. Investors are advised to exercise caution when dealing with the company’s shares.
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