Stock Track | Xinyi Glass Plunges 5% on Weak 2024 Profit Outlook

Stock Track
01-02

Shares of Xinyi Glass Holdings plummeted 5.07% in intraday trading on Thursday, following the company's warning of up to 40% decline in 2024 net profit.

In a filing with the Hong Kong Stock Exchange, Xinyi Glass attributed the expected profit drop to several factors:

  • Revenue and profit declines in its float glass business due to a weak real estate market in China and lower demand
  • Disposal losses from suspended production facilities
  • Lower profit contribution from its associate company Xinyi Solar Holdings

The Hong Kong-listed glass maker's profit outlook dampened investor sentiment, underscoring challenges faced by the company amid China's sluggish economic recovery.

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10