New Stock News | Xinyi Automobile Glass reportedly plans Hong Kong IPO next year, aiming to raise US$600 million to US$700 million

Market rumors suggest that Xinyi Automobile Glass plans to conduct an IPO in Hong Kong next year, aiming to raise US$600 million to US$700 million. XINYI GLASS announced at the end of August that it would spin off its automotive glass business, Xinyi Automobile Glass, for a separate listing in Hong Kong. It has now submitted a listing application to the Stock Exchange of Hong Kong on a confidential basis, with BNP Paribas as sponsor. The company said the spin-off will unlock its intrinsic value and support the continued growth of the business. The proposed spin-off is expected to be implemented by way of a distribution in specie, with XINYI GLASS shareholders receiving new Xinyi Automobile Glass shares proportionally at nil consideration. XINYI GLASS Chairman Lee Yin Yee previously said that the spin-off does not mean the group's business is narrowing, but rather allows different businesses to each focus on their own areas and achieve mutual benefits. The group will continue to focus on improving operational efficiency and expanding global markets. It is understood that Xinyi Automobile Glass has nearly 40 years of operating history and is one of XINYI GLASS's three major business segments, alongside XINYI GLASS's float glass business and architectural glass business. In 2025, by revenue, the automotive glass business ranked first globally in the aftermarket automotive glass products market. As of the end of August 2026, XINYI GLASS accounted for nearly 17% of China's float glass production capacity in operation, and more than 10% of global capacity.