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<Research>UBS Raises TP for XINYI SOLAR (00968.HK) to HKD4.1, Reiterates Buy Rating
Recommend 7 Positive 12 Negative 1 |
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XINYI SOLAR (00968.HK) logged a 16.2% YoY reduction in net profit to RMB845 million in 2025, owing to feeble demand impacting sales volume and profitability, paired with a RMB2.3 billion impairment loss related to polysilicon and solar glass, UBS Global Research said in its report. Excluding impairment losses, management estimated 2025's core net profit at approximately RMB2.2 billion. The broker trimmed its EPS forecasts for 2026-27 by 8% and 9%, respectively, to reflect short-term margin pressure and weak sales volume. As long-term profit forecasts remained intact, the target price was slightly raised from HKD4 to HKD4.1, with the Buy rating kept. UBS believed that the supply/ demand for solar glass is likely to bottom out and recover from 2026, with the increasing proportion of overseas shipments helping to offset the impact of domestic margin contraction. AASTOCKS Financial News |
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