Xinyi Solar Holdings (HK:0968)
:0968
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Xinyi Solar Holdings
(0968)
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Rating:62Neutral
Price Target:
HK$4.00
▲(18.69% Upside)
Action:ReiteratedDate:01/24/26
The score is primarily driven by solid but mixed financials: strong revenue growth and a stable balance sheet are offset by margin compression and volatile cash flow. Technicals are supportive but appear overbought, and valuation is less compelling given the higher P/E and modest dividend yield.
Positive Factors
Sustained Revenue Growth
Consistent ~15% five‑year revenue CAGR signals durable end‑market demand and successful scaling in solar glass and power generation. This steady top‑line expansion supports capacity utilization, long‑term supplier relationships and reinvestment for competitive scale advantages.
Negative Factors
Margin Compression
Sharp declines in gross and net margins indicate rising input costs or pricing pressure, materially reducing per‑unit profitability and long‑term cash generation. Persistent margin erosion weakens the ability to self‑fund capex and magnifies downside from commodity or competitive shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
Consistent ~15% five‑year revenue CAGR signals durable end‑market demand and successful scaling in solar glass and power generation. This steady top‑line expansion supports capacity utilization, long‑term supplier relationships and reinvestment for competitive scale advantages.
Read all positive factors
Xinyi Solar Holdings (0968) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$27.35B
Dividend Yield1.41%
Average Volume (3M)91.84M
Price to Earnings (P/E)29.5
Beta (1Y)1.10
Revenue GrowthN/A
EPS GrowthN/A
CountryHK
Employees9,645
SectorTechnology
Sector Strength88
IndustrySolar
Share Statistics
EPS (TTM)0.01
Shares Outstanding9,147,044,000
10 Day Avg. Volume109,086,387
30 Day Avg. Volume91,837,705
Financial Highlights & Ratios
PEG Ratio-0.36
Price to Book (P/B)0.97
Price to Sales (P/S)1.28
P/FCF Ratio-7.61
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$3.65Price Target Upside8.31% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)0.17
Revenue Forecast (FY)HK$19.54B
Xinyi Solar Holdings Business Overview & Revenue Model
Company Description
Xinyi Solar Holdings Limited, an investment holding company, produces and sells solar glass products in the People's Republic of China, rest of Asia, North America, Europe, and internationally. It operates in two segments, Sales of Solar Glass and...
How the Company Makes Money
Xinyi Solar generates revenue primarily through the sale of its solar glass products, which are supplied to photovoltaic manufacturers globally. The company benefits from economies of scale due to its large production capacity, allowing it to meet...
Xinyi Solar Holdings Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
68
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 21.21B | 21.92B | 26.63B | 20.54B | 16.06B | 12.32B |
| Gross Profit | 2.26B | 3.47B | 7.09B | 6.12B | 7.52B | 6.56B |
| EBITDA | 3.44B | 4.26B | 7.78B | 6.90B | 7.85B | 6.82B |
| Net Income | -137.07M | 1.01B | 4.19B | 3.82B | 4.92B | 4.56B |
Balance Sheet | ||||||
| Total Assets | 58.70B | 56.93B | 60.43B | 50.58B | 49.07B | 43.42B |
| Cash, Cash Equivalents and Short-Term Investments | 3.08B | 1.03B | 2.88B | 5.37B | 7.89B | 9.29B |
| Total Debt | 14.16B | 12.54B | 11.51B | 8.91B | 8.85B | 6.81B |
| Total Liabilities | 23.25B | 22.52B | 22.57B | 15.34B | 12.96B | 11.40B |
| Stockholders Equity | 29.95B | 29.05B | 31.97B | 29.75B | 30.31B | 26.52B |
Cash Flow | ||||||
| Free Cash Flow | -1.50B | -3.69B | -4.10B | -723.25M | -1.15B | 1.06B |
| Operating Cash Flow | 1.78B | 1.31B | 5.79B | 5.92B | 3.79B | 4.35B |
| Investing Cash Flow | -2.89B | -4.01B | -10.40B | -5.52B | -4.91B | -2.36B |
| Financing Cash Flow | 1.42B | 822.27M | 2.19B | -1.99B | -805.82M | 4.99B |
Xinyi Solar Holdings Technical Analysis
Negative
3.37
Price Trends
3.36
Negative
3.30
Negative
3.25
Negative
Market Momentum
-0.10
Positive
36.79
Neutral
11.48
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0968, the sentiment is Negative. The current price of 3.37 is above the 20-day moving average (MA) of 3.23, above the 50-day MA of 3.36, and above the 200-day MA of 3.25, indicating a bearish trend. The MACD of -0.10 indicates Positive momentum. The RSI at 36.79 is Neutral, neither overbought nor oversold. The STOCH value of 11.48 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0968.
Xinyi Solar Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | HK$27.35B | 29.49 | 2.93% | 1.41% | ― | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
47 Neutral | HK$7.36B | -6.78 | -10.01% | ― | -32.90% | -152.00% | |
46 Neutral | HK$31.22B | -3.59 | -13.67% | ― | -44.73% | -10.66% | |
42 Neutral | HK$544.55M | -7.28 | -1.39% | ― | 36.71% | 8.15% |
* Technology Sector Average
HK:0968
Xinyi Solar Holdings
2.99
0.63
26.75%
HK:0750
China Singyes Solar Technologies Holdings
0.22
-0.03
-13.60%
HK:3800
GCL Technology Holdings Limited
0.94
0.21
28.77%
HK:1799
Xinte Energy Co., Ltd. Class H
5.15
1.04
25.30%
Xinyi Solar Holdings Corporate Events
Xinyi Solar and Xinyi Glass Clarify Pricing on Connected Solar Power Sales
Jan 22, 2026
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 rooft...
Xinyi Group Clarifies Valuation and Compliance on Jinzhai Wind Power Stake Deal
Jan 16, 2026
Xinyi Glass, Xinyi Electric Storage, Xinyi Energy and Xinyi Solar have issued a supplemental joint announcement detailing valuation and compliance matters relating to the connected transaction for the sale and purchase of an equity interest in Jin...
Xinyi Solar Justifies Lower 2026 Cap on Equipment Purchases Amid Stabilising Solar Glass Market
Jan 16, 2026
Xinyi Solar Holdings and Xinyi Glass Holdings issued a supplemental joint announcement explaining the rationale behind the proposed 2026 annual cap of RMB107.3 million for Xinyi Solar’s purchases of production equipment from Xinyi Glass unde...
Xinyi Solar and Xinyi Glass Renew Connected Production Equipment Purchase Deal for 2026
Dec 24, 2025
Xinyi Solar and Xinyi Glass have renewed their intra-group production equipment procurement arrangement, with subsidiaries of the two Hong Kong–listed companies signing a new 2026 Production Equipment Purchase Agreement on 24 December 2025 f...
Xinyi Solar to Supply Surplus Rooftop Solar Power to Xinyi Glass Under 2026 Framework Deal
Dec 24, 2025
Xinyi Solar Holdings and Xinyi Glass Holdings have entered into an Electricity Framework Agreement under which, from 1 January to 31 December 2026, members of the Xinyi Solar group will supply surplus electricity generated from their distributed r...
Xinyi Group Units Restructure Stake in JinzhaI Wind Power via Connected Deal
Dec 23, 2025
Xinyi Glass, Xinyi Electric Storage, Xinyi Energy and Xinyi Solar jointly announced that their respective subsidiaries have entered into an equity transfer agreement on 23 December 2025 for the sale and purchase of an equity interest in JinzhaI Wi...
Xinyi Solar Holdings Announces Disposal of Equity Stake in Solar Farm Subsidiary
Dec 17, 2025
Xinyi Solar Holdings and Xinyi Energy Holdings announced the disposal of a 51% equity interest in Xinyi Solar (Tianjin) to a purchaser comprising state-owned entities in China. The disposal was based on a valuation of RMB 1,009 million, considerin...
Xinyi Solar Holdings Announces Major Equity Disposal in Tianjin Subsidiary
Nov 20, 2025
Xinyi Solar Holdings Limited announced the disposal of a 51% equity interest in Xinyi Solar (Tianjin) for RMB514.59 million, marking a significant transaction under the Listing Rules. This move results in Xinyi Solar (Tianjin) ceasing to be a subs...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.