Xinyi Solar Holdings Limited
Native name
信义光能控股有限公司 (Chinese)
TypeCivilian-run enterprise
Publicly traded company
SEHK: 968
Founded2008
HeadquartersXinyi Glass Industrial Park, 2 Xinyi Road, Economic and Technological Development Zone, Wuhu, Anhui, China
Key people
Chair: Lee Yin Yee
Revenue9.527 billion HKD (2017)[1]
2.332 billion HKD (2017)[1]
Chinese name
Simplified Chinese信义光能控股有限公司
Traditional Chinese信義光能控股有限公司
Websitehttp://www.xinyisolar.com/

Xinyi Solar Holdings Limited (SEHK: 968) was formed in 2008 in Dongguan when Xinyi Glass split off its solar photovoltaic glass development, manufacturing, sale, and customer service.[2][3] It is the largest solar cover glass producer in the world and has a 30% market share, according to JP Morgan Asia Pacific Equity Research.[4] Xinyi Solar's chair is Lee Yin Yee. About 23% of the company is owned by Xinyi Glass.[5]

It was listed on the Hong Kong Stock Exchange in December 2013.[6][7] Its subsidiary Xinyi Energy, which operates solar farms, also had an IPO on the Hong Kong Stock Exchange in May 2019, with sponsor BNP Paribas SA and cornerstone investors Law Kar-po and Ma Jianrong.[8]

In 2017, the company earned 9.527 billion HKD in revenue, an increase of 58.6% over the previous year, and a profit of 2.332 billion HKD, a 17.4% increase over the previous year.[1]

In June 2021 Xinyi Solar was added to the Hang Seng Index.[9][10] In February 2022, it was added to the Hang Seng China Enterprises Index.[11] Xinyi Solar was also chosen by Goldman Sachs as one of 50 stocks likely to benefit from the common prosperity drive.[12]

In 2022, the company announced plans to sell A shares on the Shenzhen Stock Exchange, saying that there was more of an opportunity to obtain large-scale investments there than in Hong Kong and that a listing in Shenzhen would make it easier to compare Xinyi Solar's value with other Chinese solar companies.[7]

Xinyi Solar has said that the Chinese government's carbon-neutral goals have increased demand for photovoltaic glass, which is good for its business.[7] This sentiment is echoed by investment manager Ken Xu, who expressed optimism about the company's future for the same reason in December 2021, even though Xinyi Solar was at that point one of the worst-performing components of the Hang Seng Index for the year.[13] United States government sanctions against solar products from Xinjiang have had mixed effects: the company's share price rose in June 2021, on the assumption that sanctions would adversely affect its competitors, but the share price sank in December 2021, as Xinyi Solar does some of its manufacturing in Xinjiang.[14][15]

References

  1. 1 2 3 "信义光能(00968-HK)2017年溢利同比增17.4%至23.32亿港元". 财华智库网. 2018-02-26. Archived from the original on 2018-09-03. Retrieved 2018-09-03.
  2. ↑ "信義光能控股有限公司發展歷程". Archived from the original on 2017-11-07. Retrieved 2017-11-04.
  3. ↑ "信義光能控股有限公司簡介". Archived from the original on 2017-11-07. Retrieved 2017-11-04.
  4. ↑ "China's solar companies look like good bets as green energy gains momentum, analysts say". South China Morning Post. 26 October 2015. Retrieved 7 January 2023.
  5. ↑ "Xinyi Glass (0868)" (PDF). Retrieved 7 January 2023.
  6. ↑ "Equities Quote". www.hkex.com.hk. Retrieved 7 January 2023.
  7. 1 2 3 "光伏玻璃龙头信义光能谋求A股上市：新玩家涌入 毛利率承压". 东方财富网. Retrieved 7 January 2023.
  8. ↑ "Xinyi Energy Raises $465 Million in Hong Kong IPO". Bloomberg.com. 21 May 2019. Retrieved 7 January 2023.
  9. ↑ "Hang Seng Index adds three stocks to kick off biggest overhaul in 52 years". South China Morning Post. 21 May 2021. Retrieved 7 January 2023.
  10. ↑ "Biden's ban on Xinjiang solar parts fuels stocks in repeat of cotton spat". South China Morning Post. 25 June 2021. Retrieved 7 January 2023.
  11. ↑ "Hong Kong index compiler adds Nongfu Spring, Lenovo to gauge". South China Morning Post. 18 February 2022. Retrieved 7 January 2023.
  12. ↑ Shen, Samuel; Ranganathan, Vidya (3 November 2021). "China stock pickers reshape portfolios on Xi's 'common prosperity'". Reuters. Retrieved 7 January 2023.
  13. ↑ "After Calling China's Crackdown, This Fund Is Going Big on Solar". Bloomberg.com. 4 December 2021. Retrieved 7 January 2023.
  14. ↑ "Hang Seng Index advances with tech stocks in favour as Fed concerns ease". South China Morning Post. 24 June 2021. Retrieved 7 January 2023.
  15. ↑ "Tencent, Alibaba push Hang Seng into weekly loss as US sanctions more Chinese firms over Xinjiang issues". The Star. Retrieved 7 January 2023.
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