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<Research>Citi Adds XINYI SOLAR (00968.HK) TP to $3.7; Rating Neutral
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Due to impairment provisions, XINYI SOLAR (00968.HK)'s net profit fell by 16.2% YoY to RMB845 million, Citi Research issued a research report saying. Excluding impairment, its operating net profit had already rebounded to over RMB2 billion last year, with an improvement in profit margins. Despite a significant drop in average selling prices in the China market, the Group's 2H25 solar glass sales gross margin still increased by 21.5 ppts YoY to 17.1%, due to reduced production costs and a higher sales mix from overseas at premium prices. Therefore, the broker added its target price for XINYI SOLAR from $3.3 to $3.7, with rating at Neutral. AASTOCKS Financial News |
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