Xinte Energy (HKG:1799) expects a net loss attributable to the shareholders of about 3.8 billion yuan to 4.1 billion yuan for the year ended Dec. 31 compared with a profit of 4.35 billion yuan corresponding period of the previous year, according to a Friday filing with the Hong Kong Bourse.
The company attributed the expected loss to the Polysilicon prices plumbing 60% year-over-year, prompting the Group to revamp production and implement cost-saving measures while facing 2.15 billion yuan in asset impairment provisions.
The China-based purity polysilicon manufacturer plans to publish its annual results by the end of March.
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