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<Research>Citi Reduces XINYI SOLAR's TP to HKD2.3; Rating Kept Neutral
Citi has issued a research report revising downward its 2025/ 2026-27 net profit forecasts for XINYI SOLAR (00968.HK) by 46%/ 32-36% to reflect lower solar glass prices and expecte...
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<Research>Citi Reduces XINYI SOLAR's TP to HKD2.3; Rating Kept Neutral
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Citi has issued a research report revising downward its 2025/ 2026-27 net profit forecasts for XINYI SOLAR (00968.HK)  -0.020 (-0.833%)    Short selling $19.95M; Ratio 28.628%   by 46%/ 32-36% to reflect lower solar glass prices and expected production stagnation.

The broker lowered its target price for XINYI SOLAR from HKD3.65 to HKD2.3, but its Neutral rating remained in place due to the relatively cheap P/B ratio.

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The report also mentioned that XINYI SOLAR is facing various challenges, such as intensified competition from second- or lower-tier peers, which was manifested in a drop of 2.9 ppts in the combined capacity share of two leading companies, FLAT GLASS (06865.HK)  -0.050 (-0.604%)    Short selling $1.46M; Ratio 8.232%   and XINYI SOLAR, to 39.2%.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-06 16:25.)

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