SEHK:868Building
Xinyi Glass (SEHK:868) Can Margin Gains Justify Its Richer Recovery Story?
Xinyi Glass Holdings went into this earnings print with the stock up modestly over the past month and quarter, and the latest H-share price at HK$9.32 as of 31 July. The market had already been pricing in a recovery story. The headline from the numbers is that profitability is doing the heavy lifting. Net profit margin on a trailing basis sits at 14.1% and trailing basic earnings per share over the past year are higher than a year ago, even though revenue only edges forward. For a glass...