HS-XYS @EC2612A

CICC Raises Target Price for Xinyi Solar to HKD 3.96

UBS Cuts Profit Forecast for Xinyi Solar but Maintains Buy Rating

BofA Securities: Xinyi Solar's Net Profit Fell 16% Last Year

Citibank Raises Xinyi Solar Target Price to HKD 3.7 and Maintains Neutral Rating

Xinyi Solar Announces 2023 Net Profit of RMB 844.5 Million

Xinyi Solar Reports 2025 Fiscal Year Earnings Decline, EPS Down

XINYI SOLAR to Release FY2025 Earnings on February 27 After-Market (BJT), Forecast Revenue HKD 20.58 B, EPS HKD 0.1445

CICC Maintains Neutral Rating on Xinyi Solar and Ups Its Revenue Forecast

JPMorgan Cuts Stake in Xinyi Solar by 26.71262 Million Shares

JPMorgan Increases Holdings in Xinyi Solar to 651 Million Shares

JPMorgan Increases Stake in Xinyi Solar to 7.04%

Xinyi Solar Benefits from Photovoltaic Industry Restructuring Plan with Improved Performance

JPMorgan Cuts Position in Xinyi Solar

Xinyi Solar issues shares in lieu of interim dividend

Xinyi Solar Analysts' Consensus Rating is Modest Buy

Xinyi Solar's Mid-Year Results Disappoint, Stock Price Dips

Xinyi Solar Reports Decline in Revenue and Profits for H1 2025

JPMorgan Raises Stake in Xinyi Solar to 8%

J.P. Morgan Downgrades Xinyi Solar's Target Price to HKD4.59

JPMorgan Downgrades Xinyi Solar's Target Price but Maintains Buy Rating

CHK OIL

PETRO-KING

D&G TECH

SHANDONG MOLONG

EASY SMART GP

JX ENERGY

MIE HOLDINGS

NUR HOLDINGS

ASTRUM

JINTAI ENERGY H

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Morgan Stanley released a report indicating that XINYI SOLAR's net profit last year fell 16% year-on-year to RMB 845 million, which was below expectations, primarily due to a RMB 2.3 billion impairment expense included in the 2025 performance. Excluding this item, the recurring profit was approximately RMB 2.1 billion, surpassing the bank's expectations, with a gross margin returning to 21.4%. The bank set a target price of HKD 3.4 and rated it as "Overweight."

AASTOCKS

Bosera CSI All Share Electric Utilities ETF

ChinaAMC Green Electricity ETF

XINYI SOLAR

GF CSI All Share Power Public Service ETF

Morgan Stanley: XINYI SOLAR's net profit last year was below expectations, but recurring net profit exceeded expectations after excluding impairments

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The CICC research report indicates that XINYI SOLAR's revenue in 2025 is expected to be RMB 20.861 billion, a year-on-year decrease of 4.8%; net profit attributable to the parent company is expected to be RMB 844 million, a year-on-year decrease of 16.3%. The company will increase the proportion of photovoltaic glass exports, as overseas profits are higher than domestic ones, and the overall profit margin is expected to rise. The profit forecast for 2026 remains unchanged, while the net profit for 2027 is adjusted upward by 3.3% to RMB 2.432 billion. The target price is raised by 10% to HKD 3.96, corresponding to a 15.8 times price-to-earnings ratio for 2026, which has an upside potential of 14.4% compared to the current stock price

Penghua SSE STAR New Energy ETF

In "Major Banks," China International Capital Corporation (CICC) reports that XINYI SOLAR's photovoltaic glass gross margin has significantly increased, raising the target price to 3.96 yuan

The UBS research report indicates that XINYI SOLAR's net profit is expected to decline by 16.2% to RMB 845 million in 2025, primarily due to weak demand leading to a decrease in sales and profitability. The bank has lowered its earnings per share forecast for 2026 and 2027 by 8% and 9%, respectively, but maintains its long-term profit forecast unchanged. The target price has been raised from HKD 4 to HKD 4.1, continuing to maintain a "Buy" rating, with expectations that solar glass demand will bottom out and rebound in 2026

UBS raises XINYI SOLAR's target price to 4.1 yuan and continues to recommend "buy," expecting solar glass demand to bottom out this year

Bank of America Securities reiterated its "underperform" rating on XINYI SOLAR, expecting continued oversupply this year. The report pointed out that XINYI SOLAR's net profit after tax fell by 16% to HKD 845 million last year, with a slight sales increase of 4.2% unable to offset the revenue decline. The gross margin for solar glass dropped to 14.1%, and further impairments are expected, with weak market demand potentially leading to prices being further reduced to below RMB 10 per square meter. The target price is HKD 2.3

Bank of America Securities reiterated its "Underperform" rating on XINYI SOLAR, expecting continued oversupply this year

Xinyi Solar posts FY profit attributable RMB844.5 million

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Xinyi Solar posts FY profit attributable RMB844.5 million

XINYI SOLAR announced its full-year results for the year ending December last year, with revenue of RMB 20.861 billion, a year-on-year decrease of 4.8%; net profit of RMB 845 million, a year-on-year decrease of 16.2%. Earnings per share were 9.29 cents, with a final dividend of 0.8 Hong Kong cents. The overall gross profit margin increased from 17.6% in 2024 to 21.4% in 2025. Despite a decrease in the daily melting volume of solar glass, annual sales still grew by 4.2%, with overseas sales increasing by 36%. The group will suspend two solar glass production lines to respond to market fluctuations

According to "Blue Chip," XINYI SOLAR's annual net profit is RMB 845 million, a decrease of approximately 16%, with a dividend of HKD 0.08

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Hong Kong's new energy material stocks experienced a significant surge in the market. According to Jin10, Junda Co., Ltd.saw an increase of over 13%, while GCL Technology Holdings Limitedrose by more than 9%. Flat Glass Group Co., Ltd.also climbed over 6%. Additionally, several other stocks, including Beijing SinoHytec Co., Ltd., Xinte Energy Co., Ltd., and Xinyi Solar Holdings Limited, gained more than 4%.

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XINTE ENERGY

CSOP CSI PV

FLAT GLASS

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Hong Kong New Energy Material Stocks Surge Amid Market Rally

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Chinese solar panel maker GCL Group reported that a delegation led by Elon Musk visited the company, as per Chinese state media. This visit follows Musk's announcement of plans to establish large-scale solar cell production in the U.S., which has positively impacted shares of Chinese solar firms. During the visit, Musk's team was informed about GCL's granular silicon technology and its perovskite business strategy in the U.S.

- Chinese solar panel manufacturer GCL-Poly has reported a visit from a delegation led by Elon Musk, according to the Securities Times.  
- The visit comes shortly after Musk announced plans for large-scale solar cell production in the United States, boosting the stock prices of Chinese solar companies.  
- An official from GCL-Poly stated that Musk's team learned about the company's granular silicon technology and its perovskite business layout in the U.S.

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GCL says Musk's delegation visited company, Chinese state media reports

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Elon Musk warns that China's electricity generation will soon triple that of the US, potentially by 2026 or 2027. He highlights China's rapid growth in power generation, particularly through solar energy, which accounted for 33.2% of global electricity in 2025 compared to the US's 14.2%. Despite reliance on coal, China's investments in renewable energy and grid infrastructure are significant. This growth raises concerns about the US's ability to compete in renewable energy, especially with high tariffs on solar.

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Solaredge Tech

LONGi

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Enphase Energy

Fisr Trust Nasdaq Clean Edge Smart Grid Infra

KraneShares MSCI China Clean Tech Ind ETF

ChinaAMC CSI Grid Equipment Thematic ETF

First Solar

Daqo New Energy

Jinkosolar

Jinko Solar

Invesco Solar ETF

Daqo Energy

iShares S&P Global Clean Energy

Musk: China Will Soon Generate Three Times as Much Electricity as US

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DRINDA(02865) rose 51.4%, with a trading turnover 2.5 Billion HKD, and a year-to-date rose 81.4%. VIVA BIOTECH(01873) rose 21.11%, with a trading turnover 75.6 Million HKD, and a year-to-date rose 33.9%. ZHIHUI MINING(02546) rose 15.89%, with a trading turnover 41.6 Million HKD, and a year-to-date rose 49.4%.

Top Gainers & Losers

VIVA BIOTECH

ZHIHUI MINING

APT SATELLITE

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LYGEND RESOURCE

IMPRO PRECISION

Top 10 HK Stock Gainers (1.23)

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The Hang Seng Index closed at 26,749 points, up 119 points or 0.4%; the Hang Seng TECH Index reported 5,798 points, up 35 points or 0.6%. The total market turnover was HKD 240.872 billion. XINYI SOLAR, POP MART, NEW ORIENTAL, and several other stocks performed outstandingly, with XINYI SOLAR rising over 11%. MTR CORPORATION, CKH HOLDINGS, POWER ASSETS, MMG, and MORIMATSU INTL all reached new highs

Hang Seng Index

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According to the "All-Day Express," the Hang Seng Index closed at 26,749 points, up 119 points; the Hang Seng TECH Index closed at 5,798 points, up 35 points. XINYI SOLAR rose over 11%. MTR CORPORATION, CKH HOLDINGS, POWER ASSETS, MMG, and MORIMATSU INTL reached new highs with active trading

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The Hang Seng Index closed at 26,718 points, up 88 points or 0.3%; the Hang Seng TECH Index reported 5,769 points, up 7 points or 0.1%. The National Index rose 30 points or 0.3%, closing at 9,145 points. Major stocks such as Alibaba, Xiaomi, Meituan, and Ping An all saw increases, while POP MART, XINYI SOLAR, MTR, Sun Hung Kai Properties, MMG, MORIMATSU INTL, and Ganfeng Lithium reached new highs

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MEITUAN

The "Half-Day Express" reports that the Hang Seng Index closed at 26,718 points, up 88 points; the Hang Seng TECH Index closed at 5,769 points, up 7 points. POP MART rose over 6%, while MTR, Sun Hung Kai Properties, MMG, MORIMATSU INTL, and Ganfeng Lithium reached new highs

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Xinyi Solar Holdings and Xinyi Glass Holdings have clarified the pricing mechanism for their connected transactions under an Electricity Framework Agreement. The annual cap is set at RMB35.4 million, based on previous purchasing levels. Prices paid by Xinyi Glass will not exceed historical local electricity costs and will be at a 15-20% discount to State Grid tariffs. The arrangement is on normal commercial terms, ensuring market pricing while allowing Xinyi Solar to monetize surplus green power. The latest analyst rating for Xinyi Solar is a Buy with a price target of HK$3.40.

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XINYI GLASS

Xinyi Solar and Xinyi Glass Clarify Pricing on Connected Solar Power Sales

Xinyi Solar Holdings Ltd. has updated the sale and purchase of equity interest in Jinzhai Wind Power, following a previous announcement on December 23, 2025. The valuation is based on a discounted cash flow forecast as of October 31, 2025, reviewed by Graval Consulting Limited and Ernst & Young Limited. No significant changes in conditions affecting Jinzhai Wind Power's business are anticipated. This information was published via the Hong Kong Stock Exchange on January 16, 2026.

Xinyi Solar Announces Sale and Purchase of Jinzhai Wind Power Equity Interest

HS-XYS @EC2612A(27187.HK)

Morgan Stanley: XINYI SOLAR's net profit last year was below expectations, but recurring net profit exceeded expectations after excluding impairments

In "Major Banks," China International Capital Corporation (CICC) reports that XINYI SOLAR's photovoltaic glass gross margin has significantly increased, raising the target price to 3.96 yuan

UBS raises XINYI SOLAR's target price to 4.1 yuan and continues to recommend "buy," expecting solar glass demand to bottom out this year

Bank of America Securities reiterated its "Underperform" rating on XINYI SOLAR, expecting continued oversupply this year

Xinyi Solar posts FY profit attributable RMB844.5 million