Xinyi Energy Holdings Limited (HK:3868)
:3868
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Xinyi Energy Holdings Limited
(3868)
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Rating:64Neutral
Price Target:
HK$1.50
▲(23.97% Upside)
Action:ReiteratedDate:12/30/25
The score is anchored by mixed financial performance: strong profitability and revenue growth are offset by margin compression, rising leverage, and two years of negative free cash flow. Valuation is supportive (low P/E and solid yield), but technical indicators point to weaker near-term momentum.
Positive Factors
High profitability and steady revenue growth
Sustained revenue growth and very high gross and operating margins indicate the business converts solar generation into strong earnings. Over 2–6 months this underpins cash generation potential and competitive positioning despite cyclical irradiation, supporting reinvestment in new projects and resilience versus peers.
Negative Factors
Rising leverage
Material increase in leverage weakens financial flexibility and raises interest‑cost sensitivity. Over several months this elevates refinancing and covenant risk for new projects, constrains ability to fund expansions internally, and can amplify earnings volatility if rates or cash flows deteriorate.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and steady revenue growth
Sustained revenue growth and very high gross and operating margins indicate the business converts solar generation into strong earnings. Over 2–6 months this underpins cash generation potential and competitive positioning despite cyclical irradiation, supporting reinvestment in new projects and resilience versus peers.
Read all positive factors
Xinyi Energy Holdings Limited (3868) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$10.31B
Dividend Yield4.83%
Average Volume (3M)21.64M
Price to Earnings (P/E)3.8
Beta (1Y)0.96
Revenue Growth3.06%
EPS Growth6.04%
CountryHK
Employees414
SectorEnergy
Sector Strength52
IndustryRenewable Utilities
Share Statistics
EPS (TTM)N/A
Shares Outstanding8,519,712,000
10 Day Avg. Volume20,969,239
30 Day Avg. Volume21,638,263
Financial Highlights & Ratios
PEG Ratio-0.34
Price to Book (P/B)0.49
Price to Sales (P/S)2.52
P/FCF Ratio-4.57
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$1.27Price Target Upside4.68% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Xinyi Energy Holdings Limited Business Overview & Revenue Model
Company Description
Xinyi Energy Holdings Limited, an investment holding company, owns, operates, and manages solar farms in the People's Republic of China. The company operates solar farms with an installed capacity of 2,494 megawatts. It sells electricity to the St...
How the Company Makes Money
Xinyi Energy generates revenue primarily through the sale of electricity generated from its solar power plants. The company enters into Power Purchase Agreements (PPAs) with electricity grid operators and commercial customers, ensuring a steady in...
Xinyi Energy Holdings Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
70
Positive
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.70B | 2.60B | 2.52B | 2.32B | 2.30B | 1.72B |
| Gross Profit | 1.74B | 1.70B | 1.71B | 1.63B | 1.68B | 1.25B |
| EBITDA | 2.39B | 2.30B | 2.33B | 2.14B | 2.20B | 1.68B |
| Net Income | 939.96M | 841.52M | 992.99M | 971.45M | 1.23B | 922.01M |
Balance Sheet | ||||||
| Total Assets | 24.22B | 23.06B | 21.13B | 19.94B | 21.20B | 17.23B |
| Cash, Cash Equivalents and Short-Term Investments | 452.30M | 422.88M | 702.95M | 1.79B | 1.10B | 1.31B |
| Total Debt | 9.06B | 8.84B | 7.04B | 5.65B | 5.60B | 2.38B |
| Total Liabilities | 10.26B | 9.75B | 7.83B | 8.18B | 8.64B | 5.22B |
| Stockholders Equity | 13.97B | 13.31B | 13.30B | 11.75B | 12.55B | 12.01B |
Cash Flow | ||||||
| Free Cash Flow | -798.68M | -1.43B | -1.89B | 1.35B | 418.04M | 642.56M |
| Operating Cash Flow | 1.19B | 1.02B | 753.13M | 2.90B | 1.24B | 1.11B |
| Investing Cash Flow | -1.98B | -2.50B | -2.61B | -1.53B | -3.13B | -1.29B |
| Financing Cash Flow | 731.09M | 1.18B | 735.33M | -576.36M | 1.65B | -202.74M |
Xinyi Energy Holdings Limited Technical Analysis
Negative
1.21
Price Trends
1.24
Negative
1.22
Negative
1.23
Negative
Market Momentum
>-0.01
Positive
44.36
Neutral
16.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3868, the sentiment is Negative. The current price of 1.21 is below the 20-day moving average (MA) of 1.25, below the 50-day MA of 1.24, and below the 200-day MA of 1.23, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 44.36 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3868.
Xinyi Energy Holdings Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | HK$3.59B | -15.64 | 1.68% | ― | ― | ― | |
68 Neutral | HK$2.40B | 3.22 | 1.34% | 8.85% | 24.56% | ― | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | HK$10.31B | 3.82 | ― | 4.83% | 3.06% | 6.04% | |
63 Neutral | HK$18.39B | 5.71 | 8.35% | 6.71% | 2.90% | 1.23% | |
60 Neutral | HK$11.13B | 8.62 | 5.97% | 6.26% | 2.47% | -6.46% | |
58 Neutral | HK$1.82B | 16.56 | 6.80% | 10.94% | -16.17% | -31.65% |
* Energy Sector Average
HK:3868
Xinyi Energy Holdings Limited
1.21
0.40
48.65%
HK:0182
Concord New Energy Group
0.24
-0.17
-41.69%
HK:0686
Beijing Energy International Holding
1.09
0.19
21.11%
HK:0579
Beijing Jingneng Clean Energy Co., Ltd. Class H
2.23
0.37
19.96%
HK:1798
China Datang Corp. Renewable Power Co. Ltd. Class H
1.53
-0.45
-22.77%
HK:1250
Shandong Hi-Speed New Energy Group Limited
1.60
0.00
0.00%
Xinyi Energy Holdings Limited Corporate Events
Xinyi Group Clarifies Valuation Basis for Jinzhai Wind Power Equity Deal
Jan 16, 2026
Xinyi Glass, Xinyi Electric Storage, Xinyi Energy and Xinyi Solar have issued a supplemental joint announcement clarifying valuation details for the connected transaction involving the sale and purchase of the equity interest in Jinzhai Wind Power...
Xinyi Group Units Reallocate Stake in Jinzai Wind Power via Connected Transaction
Dec 23, 2025
Xinyi Energy Holdings, together with related Xinyi group entities Xinyi Glass, Xinyi Solar and Xinyi Electric Storage, has entered into an equity transfer agreement under which XYE (Fanchang) will acquire an equity interest in Jinzai Wind Power fr...
Xinyi Energy and Xinyi Solar Announce Equity Disposal in Tianjin Solar Venture
Dec 17, 2025
Xinyi Energy Holdings Limited and Xinyi Solar Holdings Limited have jointly announced the disposal of 51% equity interest in Xinyi Solar (Tianjin), leveraging qualitative and quantitative factors to evaluate the transaction. This move supports ope...
Xinyi Energy and Xinyi Solar Announce Equity Disposal
Nov 20, 2025
Xinyi Energy Holdings Limited and Xinyi Solar Holdings Limited have announced a discloseable transaction involving the disposal of a 51% equity interest in Xinyi Solar (Tianjin). The transaction is valued at RMB514.59 million and will result in Xi...
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.