Xinyi Solar Holdings Full Year 2024 Earnings: Revenues Beat Expectations, EPS In Line

Xinyi Solar Holdings (HKG:968) Full Year 2024 Results

Key Financial Results

• Revenue: CN¥21.9b (down 9.3% from FY 2023).
• Net income: CN¥1.01b (down 74% from FY 2023).
• Profit margin: 4.6% (down from 16% in FY 2023). The decrease in margin was primarily driven by lower revenue.
• EPS: CN¥0.11 (down from CN¥0.43 in FY 2023).

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All figures shown in the chart above are for the trailing 12 month (TTM) period

Xinyi Solar Holdings Revenues Beat Expectations

Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) was mostly in line with analyst estimates.

The primary driver behind last 12 months revenue was the Sales of Solar Glass segment contributing a total revenue of CN¥18.8b (86% of total revenue). Notably, cost of sales worth CN¥18.4b amounted to 84% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling CN¥1.52b were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how 968's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Semiconductor industry in Hong Kong.

Performance of the Hong Kong Semiconductor industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

You still need to take note of risks, for example - Xinyi Solar Holdings has 1 warning sign we think you should be aware of.

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