SEHK:968

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Executive Summary

Xinyi Solar Holdings Limited, an investment holding company, produces and sells solar glass products in the People’s Republic of China, Malaysia, and internationally.


Snowflake Analysis

Exceptional growth potential with flawless balance sheet.


Similar Companies

Share Price & News

How has Xinyi Solar Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 968's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

4.1%

968

28.0%

HK Semiconductor

9.1%

HK Market


1 Year Return

108.7%

968

147.5%

HK Semiconductor

0.9%

HK Market

Return vs Industry: 968 underperformed the Hong Kong Semiconductor industry which returned 128% over the past year.

Return vs Market: 968 exceeded the Hong Kong Market which returned -4.7% over the past year.


Shareholder returns

968IndustryMarket
7 Day4.1%28.0%9.1%
30 Day31.0%65.1%8.2%
90 Day71.0%109.2%13.8%
1 Year114.7%108.7%150.5%147.5%4.6%0.9%
3 Year321.3%269.8%168.4%156.1%13.1%1.4%
5 Year232.0%167.7%145.4%124.0%10.8%-7.1%

Price Volatility Vs. Market

How volatile is Xinyi Solar Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Xinyi Solar Holdings undervalued compared to its fair value and its price relative to the market?

5.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 968 (HK$7.95) is trading below our estimate of fair value (HK$8.39)

Significantly Below Fair Value: 968 is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: 968 is poor value based on its PE Ratio (26.3x) compared to the Semiconductor industry average (20.4x).

PE vs Market: 968 is poor value based on its PE Ratio (26.3x) compared to the Hong Kong market (10.1x).


Price to Earnings Growth Ratio

PEG Ratio: 968 is poor value based on its PEG Ratio (1.3x)


Price to Book Ratio

PB vs Industry: 968 is overvalued based on its PB Ratio (4.5x) compared to the HK Semiconductor industry average (1.1x).


Next Steps

Future Growth

How is Xinyi Solar Holdings forecast to perform in the next 1 to 3 years based on estimates from 20 analysts?

20.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 968's forecast earnings growth (20.6% per year) is above the savings rate (1.6%).

Earnings vs Market: 968's earnings (20.6% per year) are forecast to grow faster than the Hong Kong market (17.6% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 968's revenue (20.4% per year) is forecast to grow faster than the Hong Kong market (10.9% per year).

High Growth Revenue: 968's revenue (20.4% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 968's Return on Equity is forecast to be high in 3 years time (25.1%)


Next Steps

Past Performance

How has Xinyi Solar Holdings performed over the past 5 years?

15.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 968 has high quality earnings.

Growing Profit Margin: 968's current net profit margins (26.6%) are higher than last year (24.3%).


Past Earnings Growth Analysis

Earnings Trend: 968's earnings have grown by 15.9% per year over the past 5 years.

Accelerating Growth: 968's earnings growth over the past year (29.7%) exceeds its 5-year average (15.9% per year).

Earnings vs Industry: 968 earnings growth over the past year (29.7%) underperformed the Semiconductor industry 29.7%.


Return on Equity

High ROE: 968's Return on Equity (15.1%) is considered low.


Next Steps

Financial Health

How is Xinyi Solar Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 968's short term assets (HK$9.5B) exceed its short term liabilities (HK$5.3B).

Long Term Liabilities: 968's short term assets (HK$9.5B) exceed its long term liabilities (HK$4.5B).


Debt to Equity History and Analysis

Debt Level: 968's debt to equity ratio (36%) is considered satisfactory.

Reducing Debt: 968's debt to equity ratio has reduced from 39.3% to 36% over the past 5 years.

Debt Coverage: 968's debt is well covered by operating cash flow (23.7%).

Interest Coverage: 968's interest payments on its debt are well covered by EBIT (13x coverage).


Balance Sheet


Next Steps

Dividend

What is Xinyi Solar Holdings's current dividend yield, its reliability and sustainability?

1.76%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 968's dividend (1.76%) isn’t notable compared to the bottom 25% of dividend payers in the Hong Kong market (2.35%).

High Dividend: 968's dividend (1.76%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.69%).


Stability and Growth of Payments

Stable Dividend: 968 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 968's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (46.2%), 968's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 968's dividends in 3 years are forecast to be well covered by earnings (47% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

9.7yrs

Average management tenure


CEO

Yau Ching Lee (44yo)

9.67yrs

Tenure

HK$20,262,000

Compensation

Mr. Yau Ching Lee is an Executive Director at Xinyi Energy Holdings Limited since June 26, 2015. He serves as the General Manager of both YiDe Glass (Shenzhen) Co., Ltd. and Xinyi Glass Technology (Shenzhe ...


CEO Compensation Analysis

Compensation vs Market: Yau Ching's total compensation ($USD2.61M) is above average for companies of similar size in the Hong Kong market ($USD610.96K).

Compensation vs Earnings: Yau Ching's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Yin Yee Lee
Chairmanno datano data14.12% HK$9.2b
Yau Ching Lee
CEO & Executive Director9.67yrsHK$20.26m4.01% HK$2.6b
Xi Chen
Executive Director6.83yrsHK$2.48m0.0028% HK$1.8m
Man Yin Li
Executive Director6.83yrsHK$8.40m1.16% HK$757.8m
Charn Fai Chu
Financial Controller & Company Secretaryno datano datano data
Jie Wen
General Manager of Sales11.17yrsno datano data

9.7yrs

Average Tenure

60yo

Average Age

Experienced Management: 968's management team is seasoned and experienced (9.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Yin Yee Lee
Chairmanno datano data14.12% HK$9.2b
Yau Ching Lee
CEO & Executive Director9.67yrsHK$20.26m4.01% HK$2.6b
Xi Chen
Executive Director6.83yrsHK$2.48m0.0028% HK$1.8m
Man Yin Li
Executive Director6.83yrsHK$8.40m1.16% HK$757.8m
Ching Sai Tung
Vice Chairmanno datano data2.8% HK$1.8b
Shing Put Lee
Non-Executive Director6.83yrsHK$250.00kno data
Wan Sing Lo
Independent Non-Executive Director6.67yrsHK$250.00kno data
Kwok Kin Cheng
Independent Non-Executive Director6.67yrsHK$250.00kno data
E-Ting Kan
Independent Non-Executive Director6.67yrsHK$250.00kno data

6.8yrs

Average Tenure

62yo

Average Age

Experienced Board: 968's board of directors are considered experienced (6.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Xinyi Solar Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Xinyi Solar Holdings Limited
  • Ticker: 968
  • Exchange: SEHK
  • Founded: 2008
  • Industry: Semiconductor Equipment
  • Sector: Semiconductors
  • Market Cap: HK$65.155b
  • Shares outstanding: 8.16b
  • Website: https://www.xinyisolar.com

Number of Employees


Location

  • Xinyi Solar Holdings Limited
  • Xinyi PV Glass Industrial Zone
  • No.2 Xinyi Road
  • Wuhu
  • Anhui Province
  • 241009
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
968SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDDec 2013
13XDB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 2013
968SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDDec 2013
968SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDDec 2013
XNYI.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDDec 2013

Biography

Xinyi Solar Holdings Limited, an investment holding company, produces and sells solar glass products in the People’s Republic of China, Malaysia, and internationally. It operates through three segments: Sales of Solar Glass; Solar Farm Business; and Engineering, Procurement and Construction Services. The company offers photovolatic power station, ultraclear patterned glasses, back glasses, and AR photovoltaic glasses, as well as double glass modules. It also develops and operates solar farms; and provides engineering, procurement, and construction services. In addition, the company engages in the provision of solar power systems; and trading of solar glass products. Xinyi Solar Holdings Limited was founded in 2008 and is headquartered in Wuhu, the People’s Republic of China. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/06 12:38
End of Day Share Price2020/07/06 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.