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

Stock Track

2025/01/02

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.

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Revenue and profit declines in its float glass business due to a weak real estate market in China and lower demand. Lower profit contribution from its associate company Xinyi Solar Holdings. The Hong Kong-listed glass maker's profit","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"00868":"信义玻璃"},"translate_title":"股票赛道信义玻璃因2024年盈利前景疲弱而暴跌5%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00868":1},"content_text":"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.\nIn a filing with the Hong Kong Stock Exchange, Xinyi Glass attributed the expected profit drop to several factors:\n\nRevenue and profit declines in its float glass business due to a weak real estate market in China and lower demand\nDisposal losses from suspended production facilities\nLower profit contribution from its associate company Xinyi Solar Holdings\n\nThe Hong Kong-listed glass maker's profit outlook dampened investor sentiment, underscoring challenges faced by the company amid China's sluggish economic recovery.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}