Announcement • Jul 21
Xinyi Solar Holdings Limited to Report First Half, 2026 Results on Jul 31, 2026 Xinyi Solar Holdings Limited announced that they will report first half, 2026 results on Jul 31, 2026 Announcement • May 29
Xinyi Solar Holdings Limited Approves Final Dividend for the Year Ended 31 December 2025 Xinyi Solar Holdings Limited announced at annual general meeting held on May 29, 2026, the shareholders approved to declare and pay a final dividend of 0.8 HK cents per share for the year ended 31 December 2025. Board Change • May 20
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 1 experienced director. 7 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non-Executive Director Chong Peng Leong was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Feb 27
Xinyi Solar Holdings Limited, Annual General Meeting, May 29, 2026 Xinyi Solar Holdings Limited, Annual General Meeting, May 29, 2026. Announcement • Feb 12
Xinyi Solar Holdings Limited to Report Fiscal Year 2025 Results on Feb 27, 2026 Xinyi Solar Holdings Limited announced that they will report fiscal year 2025 results at 4:00 PM, China Standard Time on Feb 27, 2026 Board Change • Dec 30
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 1 experienced director. 7 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non-Executive Director Chong Peng Leong was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Aug 18
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 1 experienced director. 7 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non-Executive Director Chong Peng Leong was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Jul 22
Xinyi Solar Holdings Limited to Report First Half, 2025 Results on Aug 01, 2025 Xinyi Solar Holdings Limited announced that they will report first half, 2025 results on Aug 01, 2025 Announcement • Jul 18
Xinyi Solar Holdings Limited Provides Earnings Guidance for the Six Months Ended 30 June 2025 Xinyi Solar Holdings Limited provided earnings guidance for the six months ended 30 June 2025. For the period, the company expects net profit to decrease by 56% to 66%, as compared to the amount of the Net Profit of RMB 1,810.4 million 1 for the six months ended 30 June 2024. The expected decrease in the amount of the Net Profit for 1H2025 is primarily attributable to the following factors: the significant decreases in the average selling prices of the solar glass products as compared to the 1H2024, which were primarily due to the oversupply of the solar glass products that could not be offset by (a) the improved sales volume following the surge in the solar installations in China and (b) the reduction in the cost of raw materials and energy cost; and recognition of impairment loss for certain solar glass production facilities which were either non-operational or undergoing repairs or refurbishment and
recognition of impairment loss for certain solar glass production facilities which were either non-operational or undergoing repairs or refurbishment. Announcement • Apr 30
Xinyi Solar Holdings Limited, Annual General Meeting, May 30, 2025 Xinyi Solar Holdings Limited, Annual General Meeting, May 30, 2025, at 10:15 China Standard Time. Location: 21/f, rykadan capital tower, 135 hoi bun road, kwun tong, kowloon, Hong Kong Announcement • Feb 18
Xinyi Solar Holdings Limited to Report Fiscal Year 2024 Results on Feb 28, 2025 Xinyi Solar Holdings Limited announced that they will report fiscal year 2024 results on Feb 28, 2025 Announcement • Jan 02
Xinyi Solar Holdings Limited Provides Earnings Guidance for the Year Ending 31 December 2024 Xinyi Solar Holdings Limited provided earnings guidance for the year ending 31 December 2024. For the period, the company expects to decrease by 70% to 80%, as compared to the amount of the Net Profit (1) of RMB 3,843 million for the year ended 31 December 2023. Such decrease in the amount of the Net Profit was primarily due to the following reasons: (1) decrease in the amount of revenue and gross profit generated from the Group's solar glass business because of the imbalance between the market demand and supply of the solar glass products and the corresponding significant decline in the market prices during the six months ending 31 December 2024 as compared to the same period last year; (2) provision for impairment of the solar glass production facilities of the Group which have been suspended operation or are under repairs, refurbishment and replacement; and (3) provision for inventory write-down because of the significant decline in the market prices and hence a decrease in the net realisable value of the Group's inventory of finished and work-in-progress solar glass products. Board Change • Dec 30
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Chong Peng Leong was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Oct 26
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to €0.50. The fair value is estimated to be €0.40, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. Buy Or Sell Opportunity • Sep 30
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to €0.49. The fair value is estimated to be €0.40, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Reported Earnings • Sep 26
First half 2024 earnings released: EPS: HK$0.22 (vs HK$0.16 in 1H 2023) First half 2024 results: EPS: HK$0.22 (up from HK$0.16 in 1H 2023). Revenue: HK$12.7b (up 4.5% from 1H 2023). Net income: HK$1.96b (up 41% from 1H 2023). Profit margin: 16% (up from 12% in 1H 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 41% per year, which means it is performing significantly worse than earnings. Declared Dividend • Aug 02
First half dividend of HK$0.10 announced Shareholders will receive a dividend of HK$0.10. Ex-date: 13th August 2024 Payment date: 16th October 2024 Dividend yield will be 28%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is covered by earnings (47% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 29% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 01
First half 2024 earnings released: EPS: HK$0.22 (vs HK$0.16 in 1H 2023) First half 2024 results: EPS: HK$0.22 (up from HK$0.16 in 1H 2023). Revenue: HK$12.7b (up 4.5% from 1H 2023). Net income: HK$1.96b (up 41% from 1H 2023). Profit margin: 16% (up from 12% in 1H 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 40% per year, which means it is performing significantly worse than earnings. Announcement • Jul 20
Xinyi Solar Holdings Limited to Report First Half, 2024 Results on Jul 31, 2024 Xinyi Solar Holdings Limited announced that they will report first half, 2024 results on Jul 31, 2024 Announcement • Jun 01
Xinyi Solar Holdings Limited Approves Final Dividend for the Year Ended 31 December 2023 Xinyi Solar Holdings Limited announced that at its Annual General Meeting held on 31 May 2024, declare a final dividend of 15.0 HK cents per Share for the year ended 31 December 2023. Upcoming Dividend • May 28
Upcoming dividend of HK$0.15 per share Eligible shareholders must have bought the stock before 04 June 2024. Payment date: 07 August 2024. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 4.3%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (1.0%). Buy Or Sell Opportunity • May 23
Now 23% undervalued Over the last 90 days, the stock has risen 31% to €0.62. The fair value is estimated to be €0.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has declined by 18%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Buy Or Sell Opportunity • May 09
Now 21% undervalued Over the last 90 days, the stock has risen 44% to €0.65. The fair value is estimated to be €0.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has declined by 18%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Reported Earnings • May 02
Full year 2023 earnings released: EPS: HK$0.47 (vs HK$0.43 in FY 2022) Full year 2023 results: EPS: HK$0.47 (up from HK$0.43 in FY 2022). Revenue: HK$26.6b (up 30% from FY 2022). Net income: HK$4.19b (up 9.6% from FY 2022). Profit margin: 16% (down from 19% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 17% per year. Announcement • May 02
Xinyi Solar Holdings Limited (SEHK:968) acquired Solar farm project of Qujing Yingli Photovoltaic Power Development from Qujing Yingli Photovoltaic Power Development Limited. Xinyi Solar Holdings Limited (SEHK:968) acquired Solar farm project of Qujing Yingli Photovoltaic Power Development from Qujing Yingli Photovoltaic Power Development Limited on February 2023.Xinyi Solar Holdings Limited (SEHK:968) completed the acquisition of Solar farm project of Qujing Yingli Photovoltaic Power Development from Qujing Yingli Photovoltaic Power Development Limited on February 2023. Announcement • May 01
Xinyi Solar Holdings Limited, Annual General Meeting, May 31, 2024 Xinyi Solar Holdings Limited, Annual General Meeting, May 31, 2024, at 10:15 China Standard Time. Location: 21/F, Rykadan Capital Tower, No. 135 Hoi Bun Road, Kwun Tong, Kowloon Kowloon Hong Kong Declared Dividend • Mar 01
Final dividend of HK$0.15 announced Shareholders will receive a dividend of HK$0.15. Ex-date: 4th June 2024 Payment date: 7th August 2024 Dividend yield will be 29%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is covered by earnings (48% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 29% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 63% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: HK$0.47 (vs HK$0.43 in FY 2022) Full year 2023 results: EPS: HK$0.47 (up from HK$0.43 in FY 2022). Revenue: HK$26.6b (up 30% from FY 2022). Net income: HK$4.19b (up 9.6% from FY 2022). Profit margin: 16% (down from 19% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Announcement • Feb 29
Xinyi Solar Holdings Limited Announces Change of Chief Executive Officer, Effective 1 April 2024 The board of directors of Xinyi Solar Holdings Limited announced the following change in the senior management of the Group. Mr. LEE Yau Ching (Mr. Wesley Lee) will resign as the Chief Executive Officer of the Company effective from 1 April 2024 because of his desire to spend more time with his family in Hong Kong. Over the past 13 years, Mr. Wesley Lee has been acting as the Chief Executive Officer of the Company since November 2010 and has led and witnessed the business growth of the Group to become one of the leaders in the global solar glass industry. Following the resignation, Mr. Wesley Lee will remain one of the executive Directors with the primary focus on supporting the strategic business development and growth of the Group. Following the resignation of Mr. Wesley Lee and effective from 1 April 2024, Mr. LEE Shing Put, B.B.S. (Mr. Lee), an executive Director and a Vice Chairman of the Group, will act as the Chief Executive Officer of the Company. Mr. Lee, aged 46, is currently an executive Director and a Vice Chairman of the Company. Prior to joining the Group, Mr. Lee was engaged in information technology and investment businesses in Hong Kong and China. Mr. Lee was an executive director of Xinyi Glass Holdings Limited, during the period from June 2004 to October 2008. Mr. Lee acted as a non-executive Director during the period from 20 September 2013 to 30 July 2023. Mr. Lee has then been re-designated as an executive Director and a Vice Chairman of the Group from 31 July 2023. Mr. Lee is also the Chairman and an executive director of Xinyi Energy Holdings Limited. Mr. Lee graduated from The Hong Kong University of Science and Technology in 2000 with a bachelor's degree in business administration majoring in finance and economics and obtained the Executive master's degree in business administration from the Peking University in 2016. Mr. Lee is an Honorary Fellow of The Hong Kong University of Science and Technology. Mr. Lee is currently a member of the 13th Guangdong Provincial Standing Committee of the Chinese People's Political Consultative Conference and a deputy to the 14th National People's Congress. Mr. Lee is an executive director and chairman of Xinyi Energy Holdings Limited. Mr. Lee is the son of Dr. LEE Yin Yee, S.B.S., a non-executive Director and the Chairman of the Group, the cousin of Mr. Wesley Lee and the nephew of Tan Sri Datuk TUNG Ching Sai P.S.M, D.M.S.M, J.P., a non-executive Director and a Vice Chairman of the Group. Mr. Lee is also a director of a subsidiary of the Company. Announcement • Feb 28
Xinyi Solar Holdings Limited Proposes Final Dividend for the Year Ended 31 December 2023, Payable on 07 August 2024 The Board of Xinyi Solar Holdings Limited proposed final dividend of HKD 0.15 per share for the year ended 31 December 2023. Record date: 11 June 2024. Payment date: 07 August 2024. Ex-dividend date 04 June 2024. Date of shareholders' approval 31 May 2024. Announcement • Feb 17
Xinyi Solar Holdings Limited to Report Q4, 2023 Results on Feb 28, 2024 Xinyi Solar Holdings Limited announced that they will report Q4, 2023 results on Feb 28, 2024 New Risk • Jan 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Paying a dividend despite having no free cash flows. Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (14% net profit margin). Profit margins are more than 30% lower than last year (14% net profit margin). Recent Insider Transactions • Nov 09
Non Executive Vice Chairman recently bought €591k worth of stock On the 7th of November, Ching Sai Tung bought around 1m shares on-market at roughly €0.59 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth €1.4m. Ching Sai has been a buyer over the last 12 months, purchasing a net total of €4.0m worth in shares. Recent Insider Transactions • Oct 25
Non Executive Vice Chairman recently bought €669k worth of stock On the 19th of October, Ching Sai Tung bought around 1m shares on-market at roughly €0.67 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth €1.4m. Ching Sai has been a buyer over the last 12 months, purchasing a net total of €2.2m worth in shares. Recent Insider Transactions • Sep 28
Non-Executive Director recently bought €1.4m worth of stock On the 25th of September, Yin Yee Lee bought around 2m shares on-market at roughly €0.68 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €3.8m more in shares than they have sold in the last 12 months. Upcoming Dividend • Aug 04
Upcoming dividend of HK$0.075 per share at 2.0% yield Eligible shareholders must have bought the stock before 11 August 2023. Payment date: 06 September 2023. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.0%). Announcement • Aug 03
Xinyi Solar Holdings Limited Announces Interim Dividend for the Six Months Ended 30 June 2023, Payable on 6 September 2023 Xinyi Solar Holdings Limited announced interim dividend for the six months ended 30 June 2023 of HKD 0.075 per share. Ex-dividend date: 11 August 2023. Record date: 17 August 2023. Payment date: 6 September 2023. Reported Earnings • Aug 01
First half 2023 earnings released: EPS: HK$0.16 (vs HK$0.21 in 1H 2022) First half 2023 results: EPS: HK$0.16 (down from HK$0.21 in 1H 2022). Revenue: HK$12.1b (up 25% from 1H 2022). Net income: HK$1.39b (down 27% from 1H 2022). Profit margin: 12% (down from 20% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Aug 01
Xinyi Solar Holdings Limited Announces Re-Designation of Directors The board of directors of Xinyi Solar Holdings Limited announce that effective from 31 July 2023, (a) Mr. LEE Shing Put, B.B.S. ("Mr. LEE") has been re-designated as an executive Director and a Vice Chairman of the Board and (b) Dr. LEE Yin Yee, S.B.S., B.B.S., M.H. ("Dr. LEE") has been re-designated as a non-executive Director. Dr. LEE will continue to be the Chairman of the Board. The following sets out further biographical information of Mr. LEEand Dr. LEE and other related information. Mr. LEE Shing Put, B.B.S. (Mr. LEE): Mr. LEE, aged 46, was a non-executive Director and re-designated as an executive Director on 31 July 2023. Mr. LEE joined the Company in September 2013 and was appointed as a non-executive Director from 20 September 2013. Prior to joining the Group, Mr. LEE had been engaged in information technology and investment businesses in Hong Kong and China since 2001. Mr. LEE graduated from the Hong Kong University of Science and Technology in 2000 with a bachelor's degree in business administration majoring in finance and economics and obtained from the Peking University in 2016 an Executive Master's Degree in Business Administration. Mr. LEE is an Honorary Fellow of The Hong Kong University of Science and Technology. Mr. LEE was an executive director of Xinyi Glass Holdings Limited("Xinyi Glass") (stock code: 00868), a company listed on The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), from June 2004 to October 2008. Mr. LEE is currently a member of the 13th Guangdong Provincial Committee of the Chinese People's Political Consultative Conference and a deputy to the 14th National People's Congress. Mr. LEE is an executive director and chairman of Xinyi Energy Holdings Limited ("Xinyi Energy") (stockcode: 03868), a company listed on the Stock Exchange. Mr. LEE is the son of Dr. LEE, the cousin of Mr. LEE Yau Ching, an executive Director and Chief Executive Officer of the Group and the nephew of Tan Sri Datuk TUNG Ching Sai P.S.M, D.M.S.M, J.P., Vice Chairman and a non-executive Director. Mr. LEE is a director of various subsidiaries of the Company. Dr. LEE Yin Yee, S.B.S., B.B.S., M.H. (Dr. LEE): Dr. LEE, aged 71, was an executive Director and re-designated as a non-executive Director on 31 July 2023. He is also the Chairman of the Board. Dr. LEE joined the Group in July 2006. As the Chairman of the Board, Dr. LEE focuses on the formulation of the overall business development strategy of the Group. Dr. LEE has 34 years' experience in the glass industry. Dr. LEE is the founder of Xinyi Glass (stock code: 00868) and is currently an executive director and the chairman the board of directors of Xinyi Glass. Dr. LEE obtained an Honorable Doctorate Degree in engineering from the Universiti Teknikal Malaysia Melaka in November 2018. Dr. LEE is a committee member of the 10th-13th Chinese People's Political Consultative Conference and an Honorary Citizen of Shenzhen, the PRC. Dr. LEE was appointed in December 2003 as the first chairman of Fujian Chamber of Commerce in Shenzhen (formerly known as "Shenzhen Fujian Corporate Association"). Dr. LEE is also the Life Honorary Chairman of the Hong Kong Quanzhou Clans United Association and the Fukienese Association Limited in Hong Kong. Dr. LEE is the brother-in-law of Tan Sri Datuk TUNG Ching Sai, J.P., a non-executive Director, and the uncle of Mr. LEE Yau Ching, an executive Director and the Chief Executive Officer of the Group. Dr. LEE is the father of Mr. LEE. Dr. LEE was the chairman and non-executive director of Xinyi Energy (stock code: 03868), a company listed on the main board of the Stock Exchange, from May 2018to August 2020. Dr. LEE is a director of various subsidiaries of the Company. New Risk • Jul 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.5% average weekly change). Profit margins are more than 30% lower than last year (19% net profit margin). Buying Opportunity • Jul 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.8%. The fair value is estimated to be €1.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 7.3%. For the next 3 years, revenue is forecast to grow by 24% per annum. Earnings is also forecast to grow by 25% per annum over the same time period. Upcoming Dividend • May 30
Upcoming dividend of HK$0.10 per share at 2.5% yield Eligible shareholders must have bought the stock before 06 June 2023. Payment date: 04 July 2023. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (1.1%). Reported Earnings • Apr 30
Full year 2022 earnings released: EPS: HK$0.43 (vs HK$0.56 in FY 2021) Full year 2022 results: EPS: HK$0.43 (down from HK$0.56 in FY 2021). Revenue: HK$20.5b (up 28% from FY 2021). Net income: HK$3.82b (down 22% from FY 2021). Profit margin: 19% (down from 31% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Mar 01
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.0%. The fair value is estimated to be €1.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 7.3%. For the next 3 years, revenue is forecast to grow by 24% per annum. Earnings is also forecast to grow by 26% per annum over the same time period. Reported Earnings • Feb 28
Full year 2022 earnings released: EPS: HK$0.43 (vs HK$0.56 in FY 2021) Full year 2022 results: EPS: HK$0.43 (down from HK$0.56 in FY 2021). Revenue: HK$20.5b (up 28% from FY 2021). Net income: HK$3.82b (down 22% from FY 2021). Profit margin: 19% (down from 31% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 16
Xinyi Solar Holdings Limited to Report Fiscal Year 2022 Results on Feb 27, 2023 Xinyi Solar Holdings Limited announced that they will report fiscal year 2022 results on Feb 27, 2023 Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. No experienced directors. 8 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non-Executive Director Chong Peng Leong was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improved over the past week After last week's 18% share price gain to €1.17, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 14x in the Semiconductor industry in Germany. Total returns to shareholders of 144% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €2.09 per share. Reported Earnings • Oct 02
First half 2022 earnings released: EPS: HK$0.21 (vs HK$0.35 in 1H 2021) First half 2022 results: EPS: HK$0.21 (down from HK$0.35 in 1H 2021). Revenue: HK$9.70b (up 20% from 1H 2021). Net income: HK$1.90b (down 38% from 1H 2021). Profit margin: 20% (down from 38% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 25% per year. Upcoming Dividend • Aug 04
Upcoming dividend of HK$0.10 per share Eligible shareholders must have bought the stock before 11 August 2022. Payment date: 06 September 2022. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (1.1%). Reported Earnings • Aug 02
First half 2022 earnings released: EPS: HK$0.21 (vs HK$0.35 in 1H 2021) First half 2022 results: EPS: HK$0.21 (down from HK$0.35 in 1H 2021). Revenue: HK$9.70b (up 20% from 1H 2021). Net income: HK$1.90b (down 38% from 1H 2021). Profit margin: 20% (down from 38% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 36%, compared to a 14% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • May 31
Upcoming dividend of HK$0.10 per share Eligible shareholders must have bought the stock before 07 June 2022. Payment date: 06 July 2022. Payout ratio is a comfortable 49% but the company is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (4.3%). Higher than average of industry peers (1.2%). Reported Earnings • May 02
Full year 2021 earnings released: EPS: HK$0.56 (vs HK$0.55 in FY 2020) Full year 2021 results: EPS: HK$0.56 (up from HK$0.55 in FY 2020). Revenue: HK$16.1b (up 30% from FY 2020). Net income: HK$4.92b (up 8.0% from FY 2020). Profit margin: 31% (down from 37% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 26%, compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 40% per year whereas the company’s share price has increased by 42% per year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 9 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non-Executive Director Vincent Lo was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 01
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: HK$0.56 (up from HK$0.55 in FY 2020). Revenue: HK$16.1b (up 30% from FY 2020). Net income: HK$4.92b (up 8.0% from FY 2020). Profit margin: 31% (down from 37% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 23%, compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Nov 03
Insider recently bought €714k worth of stock On the 29th of October, Ching Wai Li bought around 400k shares on-market at roughly €1.79 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €1.8m more in shares than they have sold in the last 12 months. Reported Earnings • Sep 07
First half 2021 earnings released: EPS HK$0.35 (vs HK$0.17 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: HK$8.07b (up 75% from 1H 2020). Net income: HK$3.07b (up 118% from 1H 2020). Profit margin: 38% (up from 30% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 98% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 10
Upcoming dividend of HK$0.17 per share Eligible shareholders must have bought the stock before 17 August 2021. Payment date: 21 September 2021. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (3.2%). Higher than average of industry peers (0.5%). Reported Earnings • Aug 03
First half 2021 earnings released: EPS HK$0.35 (vs HK$0.17 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: HK$8.07b (up 75% from 1H 2020). Net income: HK$3.07b (up 118% from 1H 2020). Profit margin: 38% (up from 30% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 94% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improved over the past week After last week's 16% share price gain to HK$1.59, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 34x in the Semiconductor industry in Germany. Total returns to shareholders of 585% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.11 per share. Upcoming Dividend • May 25
Upcoming dividend of HK$0.17 per share Eligible shareholders must have bought the stock before 01 June 2021. Payment date: 07 July 2021. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (3.2%). Higher than average of industry peers (0.6%). Valuation Update With 7 Day Price Move • May 21
Investor sentiment improved over the past week After last week's 16% share price gain to HK$1.33, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 33x in the Semiconductor industry in Germany. Total returns to shareholders of 295% over the past three years. Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorated over the past week After last week's 18% share price decline to HK$1.17, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 38x in the Semiconductor industry in Germany. Total returns to shareholders of 274% over the past three years. Reported Earnings • Apr 24
Full year 2020 earnings released: EPS HK$0.55 (vs HK$0.30 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: HK$12.3b (up 35% from FY 2019). Net income: HK$4.56b (up 89% from FY 2019). Profit margin: 37% (up from 27% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 02
Full year 2020 earnings released: EPS HK$0.55 (vs HK$0.30 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: HK$12.3b (up 35% from FY 2019). Net income: HK$4.56b (up 89% from FY 2019). Profit margin: 37% (up from 27% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 73% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Mar 02
Revenue misses expectations Revenue missed analyst estimates by 0.3%. Over the next year, revenue is forecast to grow 42%, compared to a 17% growth forecast for the Semiconductor industry in Germany. Announcement • Mar 02
Xinyi Solar Holdings Limited, Annual General Meeting, May 28, 2021 Xinyi Solar Holdings Limited, Annual General Meeting, May 28, 2021. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 16% share price decline to HK$1.88, the stock is trading at a trailing P/E ratio of 47.3x, down from the previous P/E ratio of 56.3x. This compares to an average P/E of 86x in the Semiconductor industry in Germany. Total returns to shareholders over the past three years are 502%. Announcement • Feb 18
Xinyi Solar Holdings Limited to Report Fiscal Year 2020 Results on Mar 01, 2021 Xinyi Solar Holdings Limited announced that they will report fiscal year 2020 results on Mar 01, 2021 Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment deteriorated over the past week After last week's 16% share price decline to HK$1.98, the stock is trading at a trailing P/E ratio of 52.8x, down from the previous P/E ratio of 62.9x. This compares to an average P/E of 77x in the Semiconductor industry in Germany. Total returns to shareholders over the past three years are 487%. Announcement • Dec 30
Xinyi Solar Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 3.9 billion. Xinyi Solar Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 3.9 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 300,000,000
Price\Range: HKD 13
Transaction Features: Subsequent Direct Listing Is New 90 Day High Low • Dec 23
New 90-day high: €1.97 The company is up 67% from its price of €1.18 on 24 September 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 33% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.69 per share. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improved over the past week After last week's 19% share price gain to HK$1.84, the stock is trading at a trailing P/E ratio of 51.5x, up from the previous P/E ratio of 43.4x. This compares to an average P/E of 58x in the Semiconductor industry in Germany. Total returns to shareholders over the past three years are 544%. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improved over the past week After last week's 16% share price gain to HK$1.67, the stock is trading at a trailing P/E ratio of 45.6x, up from the previous P/E ratio of 39.3x. This compares to an average P/E of 62x in the Semiconductor industry in Germany. Total returns to shareholders over the past three years are 485%. Valuation Update With 7 Day Price Move • Nov 05
Market pulls back on stock over the past week After last week's 25% share price decline to HK$1.41, the stock is trading at a trailing P/E ratio of 37.8x, down from the previous P/E ratio of 50.4x. This compares to an average P/E of 31x in the Semiconductor industry in Germany. Total returns to shareholders over the past three years are 455%. Valuation Update With 7 Day Price Move • Oct 30
Market bids up stock over the past week After last week's 36% share price gain to HK$1.88, the stock is trading at a trailing P/E ratio of 40.7x, up from the previous P/E ratio of 29.9x. This compares to an average P/E of 27x in the Semiconductor industry in Germany. Total returns to shareholders over the past three years are 642%. Is New 90 Day High Low • Oct 30
New 90-day high: €1.88 The company is up 109% from its price of €0.90 on 31 July 2020. The German market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.91 per share. Valuation Update With 7 Day Price Move • Oct 15
Market pulls back on stock over the past week After last week's 20% share price decline to HK$1.44, the stock is trading at a trailing P/E ratio of 37.1x, down from the previous P/E ratio of 46.6x. This compares to an average P/E of 32x in the Semiconductor industry in Germany. Total returns to shareholders over the past three years are 457%. Announcement • Oct 01
Xinyi Solar Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 2.66208 billion. Xinyi Solar Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 2.66208 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 282,000,000
Price\Range: HKD 9.44
Transaction Features: Subsequent Direct Listing Is New 90 Day High Low • Sep 19
New 90-day high: €1.18 The company is up 51% from its price of €0.78 on 19 June 2020. The German market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.26 per share. Announcement • Jul 23
Xinyi Solar Holdings Limited to Report First Half, 2020 Results on Aug 03, 2020 Xinyi Solar Holdings Limited announced that they will report first half, 2020 results on Aug 03, 2020 
