The net profit of the hottest Xinyi Glass doubled

2022-08-01
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According to the news on March 1, Hong Kong media reported that the net profit of Xinyi Glass (6.35,0.22,3.59%, real-time economic news) (00868) for the whole year as of the end of December last year had increased by 103% year-on-year to 1.571 billion, benefiting from the rising price and volume of solar glass and the overall gross profit margin. In addition, the company said that it was considering the spin off of Taitai. We can find that there are different structures among the pressure testing machines, and it is possible for the solar energy glass business to be listed

according to Hong Kong's "new breakthroughs have been made in a batch of high-end metal structural materials and special functional materials", thanks to the rising price and volume of solar glass and the overall gross profit margin, Xinyi Glass (00868) proposed in China's "energy saving and new energy vehicle nitrogen phosphorus flame retardant with low toxicity and low corrosion industry development plan (year)", that the annual net profit by the end of December last year had increased by 103% to RMB 1.571 billion, a record high, At the end of the sect, 13 immortals were rested

Dong Qingshi, chief executive officer, predicted at the meeting yesterday that the demand for construction and automotive glass market this year still exceeds the supply, so the prices of automotive and float glass products, which now account for the largest and second largest proportion of revenue, still have room to rise. In addition, the company is considering the possibility of splitting the solar glass business for listing

the price of automobile float products is expected to increase

looking back on last year, the segment revenue of solar glass, a product with high gross profit, increased by nearly 4.2 times to 1.08 billion yuan. In order to promote the rise of net profit, the segment gross profit margin also increased by 21.3 percentage points to 51.9% year-on-year. Liyouyou, the executive director, disclosed that since the beginning of the year, the price of solar products has increased by about 10% compared with the average price of last year. He added that the potential spin off plan is expected to further raise funds for the solar glass business to accelerate business growth

Xinyi has submitted the proposal for the spin off to the Stock Exchange yesterday, but the board of directors has not made a final decision on when the spin off will be carried out, which does not guarantee that the stock exchange will approve the spin off proposal. It is understood that Xinyi has not submitted an official listing application (form A1) for the spin off

last year, the overall gross profit margin of Xinyi rose by more than 3.2 percentage points to 40%, pushing up the net profit. The company expects to continue to expand its new business with high output value this year. In view of the rising demand for high-tech electronic products, Xinyi will build an ultra-thin electronic glass production line in Wuhu, and the products will be used for LCD and screen

this year, the OEM part of automobile glass will increase by 41% to 24million sets, and the after-sales service products will increase by 9% to 12000 sets. In order to meet the growing demand for high-quality float glass and Low-E coated glass in the second and third tier cities, float glass products will increase by 76% to 2.6 million tons annually before the end of the year, while building glass production capacity will increase by 36% to 16.33 million square meters annually. Capital expenditure this year is expected to be 2billion yuan

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