HK Stock Market Move | XINYI SOLAR (00968) dropped 3% significantly, with mid-term profit attributable to equity holders decreasing by 94.8% year-on-year, while upstream photovoltaic glass prices have plummeted.

XINYI SOLAR (00968) has fallen sharply by 3%, and as of the time of writing, it is down 2.2%, trading at HKD 2.44, with a transaction volume of HKD 84.6152 million. In recent news, XINYI SOLAR announced its mid-year results for 2026, reporting revenue of approximately HKD 8.43 billion, a year-on-year decrease of 22.9%; the profit attributable to equity holders of the company was HKD 39 million, a year-on-year decrease of 94.8%; basic earnings per share were 0.43 cents, with an interim dividend of 0.23 HKD cents per share. Among them, the revenue from the group's CECEP Solar Energy glass decreased by 24.4% year-on-year to HKD 7.163 billion. The decline was mainly due to a significant drop in average selling prices and a decrease in sales volume. Huatais research report pointed out that the sharp decline in XINYI SOLAR's performance is primarily due to the slowdown in domestic photovoltaic installation demand and a substantial drop in the prices of upstream photovoltaic glass products. The firm believes that the company, leveraging its scale cost advantage, overseas business layout, and asset optimization strategy, is expected to navigate through the cycle. However, the photovoltaic glass industry is still in a period of supply and demand adjustment. Since July, the industrys maintenance activities have accelerated, but this is still insufficient to support a rapid price recovery, leading the firm to downgrade the company's rating to "overweight."