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Xinyi Glass Holdings
(0868)
Xinyi Glass Holdings (0868) vs. iShares MSCI Hong Kong ETF (EWH)
Xinyi Glass Holdings Business Overview & Revenue Model
Xinyi Glass Holdings Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 22.71B | 23.75B | 26.80B | 25.75B | 30.46B | 18.62B |
| Gross Profit | 6.51B | 7.16B | 8.61B | 7.47B | 14.50B | 7.67B |
| EBITDA | 4.73B | 5.66B | 8.36B | 6.94B | 14.00B | 7.57B |
| Net Income | 1.97B | 3.59B | 5.37B | 5.13B | 11.56B | 6.42B |
Balance Sheet | ||||||
| Total Assets | 49.11B | 51.16B | 50.81B | 52.23B | 56.50B | 45.07B |
| Cash, Cash Equivalents and Short-Term Investments | 1.95B | 1.68B | 2.39B | 4.06B | 9.59B | 5.53B |
| Total Debt | 7.06B | 7.79B | 8.19B | 13.54B | 15.55B | 11.66B |
| Total Liabilities | 14.02B | 14.58B | 14.95B | 20.14B | 21.79B | 17.10B |
| Stockholders Equity | 35.00B | 36.48B | 35.75B | 31.97B | 34.60B | 27.88B |
Cash Flow | ||||||
| Free Cash Flow | 2.03B | 941.50M | 1.63B | 4.67B | 8.77B | 1.32B |
| Operating Cash Flow | 5.52B | 5.95B | 5.00B | 7.34B | 11.77B | 4.94B |
| Investing Cash Flow | -3.32B | -6.00B | 122.29M | -7.08B | -5.84B | -4.06B |
| Financing Cash Flow | -1.54B | -2.21B | -6.18B | -5.40B | -2.12B | -1.02B |
Xinyi Glass Holdings Technical Analysis
Xinyi Glass Holdings Peers Comparison
Xinyi Glass Holdings Corporate Events
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.
Xinyi Glass Holdings, Xinyi Electric Storage, Xinyi Energy and Xinyi Solar jointly issued a supplemental announcement on their connected transaction involving the sale and purchase of an equity interest in Jinzhai Wind Power, clarifying valuation and compliance details related to the deal. The companies disclosed that the valuation of Jinzhai Wind Power as of 31 October 2025, prepared by independent valuer Graval Consulting, was conducted using a discounted cash flow method under the income approach and is therefore treated as a profit forecast under Hong Kong Listing Rules, with Ernst & Young having reviewed the arithmetic accuracy of the forecast calculations and confirming no shareholdings or subscription rights in the Xinyi groups. The boards further explained that the free cash flow to the firm model was adopted over a 13-year projection period to 2037, reflecting the expected remaining life of the wind farm’s turbines, thereby providing investors with more transparency on how the equity interest’s market value was determined in the context of the connected transaction.
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.
Xinyi Solar and Xinyi Glass issued a supplemental joint announcement clarifying the basis for the proposed 2026 annual cap of RMB107.3 million under their production equipment purchase agreement, a connected transaction between the two related groups. They explained that the unusually low purchase volume in the first 11 months of 2025, with only RMB1.2 million used against a cap of RMB168.8 million, stemmed from a deliberate slowdown in capacity expansion amid a supply-demand imbalance in the solar glass sector, production line suspensions, and the use of spare parts from under-utilised facilities. Despite a sharp interim profit decline at Xinyi Solar in 2025, the directors do not expect continued deterioration and argue that 2024’s higher purchase level is a more realistic guide for 2026 demand. The proposed lower cap, at roughly half of the 2023–2024 actual transaction amounts, is positioned as reflecting a stabilising market, planned capacity expansion and normal equipment utilisation as industry conditions and solar glass supply-demand dynamics are expected to improve in China and overseas.
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.
Xinyi Glass Holdings Limited and its affiliate Xinyi Solar Holdings Limited have entered into an Electricity Framework Agreement under which members of the Xinyi Solar group will supply surplus electricity from their distributed rooftop solar power generation systems to members of the Xinyi Glass group from 1 January to 31 December 2026. As Xinyi Glass is a substantial shareholder of Xinyi Solar and both companies share common controlling shareholders, the arrangement is classified as a continuing connected transaction for both issuers under Hong Kong listing rules, triggering reporting and announcement requirements but remaining exempt from circular and independent shareholders’ approval due to its relatively small transaction size; the deal underscores closer operational integration between the glass and solar units while formalizing intra-group energy supply on regulated terms.
The most recent analyst rating on (HK:0868) stock is a Hold with a HK$9.00 price target. To see the full list of analyst forecasts on Xinyi Glass Holdings stock, see the HK:0868 Stock Forecast page.
Xinyi Solar and Xinyi Glass have renewed their production equipment procurement arrangement, with subsidiaries of both companies signing a new 2026 Production Equipment Purchase Agreement on 24 December 2025 to cover purchases from 1 January to 31 December 2026. As Xinyi Glass is a substantial shareholder of Xinyi Solar and both groups are under common controlling shareholders, the renewed equipment purchases are classified as continuing connected transactions under Hong Kong listing rules, triggering reporting and announcement obligations but remaining exempt from shareholder approval and circular requirements because the deal size falls between 0.1% and 5% of the relevant percentage ratios.
The most recent analyst rating on (HK:0868) stock is a Hold with a HK$9.00 price target. To see the full list of analyst forecasts on Xinyi Glass Holdings stock, see the HK:0868 Stock Forecast page.
Xinyi Glass Holdings, together with its affiliated listed entities Xinyi Energy, Xinyi Solar and Xinyi Electric Storage, has entered into an equity transfer agreement under which Xinyi Energy (Fanchang) will acquire an equity interest in Jinzai Wind Power from Xinyi Glass (Wuhu) and XES Anhui Power, further consolidating renewable power assets within the Xinyi group structure. The transaction is classified as a connected transaction for Xinyi Glass, Xinyi Energy, Xinyi Solar and Xinyi Electric Storage under the Main Board and GEM Listing Rules, but because the relevant percentage ratios are above 0.1% and below 5%, it will only be subject to reporting and announcement requirements and will not require circulars, independent financial advice or independent shareholders’ approval, streamlining execution while maintaining disclosure obligations for investors.
The most recent analyst rating on (HK:0868) stock is a Hold with a HK$9.00 price target. To see the full list of analyst forecasts on Xinyi Glass Holdings stock, see the HK:0868 Stock Forecast page.