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<Research>BOCI Upgrades XINYI SOLAR (00968.HK) to Buy, Lifts TP to $4.2
Recommend 6 Positive 7 Negative 3 |
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After excluding approx. RMB2.3 billion impairment on photovoltaic glass and polysilicon assets, XINYI SOLAR (00968.HK)'s 2025 core net profit amounted to approx. RMB2.6 billion, BOCI published a research report saying. Gross margin of photovoltaic glass increased by 5.7 ppts HoH to 17.1%, mainly driven by overseas premium and cost reduction. Moreover, the report added that XINYI SOLAR's newly commissioned Indonesian facilities are also expected to further benefit from overseas market premiums and potential photovoltaic capacity expansion in the US. Given the better-than-expected gross margin and industry consolidation prospects, the broker upgraded XINYI SOLAR to Buy, and lifted its target price from $3 to $4.2. AASTOCKS Financial News Website: www.aastocks.com |
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