XINYI GLASS (00868) announces annual financial performance, with a profit attributable to shareholders of 3.369 billion yuan, a decrease of 31% year-on-year.

XINYI GLASS (00868) announced its annual performance for the year ending December 31, 2024. The group achieved a revenue of 22.324 billion yuan, a decrease of 8.1% compared to the previous year; the profit attributable to equity holders of the company was 3.369 billion yuan, a decrease of 31%; basic earnings per share were 79.23 cents; proposed final dividend of 0.1 Hong Kong dollar per share. The announcement stated that in 2024, the group's sales revenue decreased by 8.1%. This decrease was mainly due to a significant decrease in the average selling price of float glass products in China and overseas markets. The increase in revenue from automotive glass products sales was mainly attributed to an increase in new purchase orders from Chinese automobile manufacturers, as well as the active and flexible marketing strategies of domestic and overseas aftermarket sales customers.