Dahua Jixian: Upgrades Xinyi Solar Holdings (00968) to "Buy" Mid-term performance in line with expectations Target price of 3.6 Hong Kong dollars.

According to the WiseSteady Financial APP, Dahua JiXian released a research report stating that Xinyi Solar (00968) recorded a 58.8% year-on-year drop in profit in the first half of the year, in line with expectations; revenue decreased by 6.5%. The profit margin of the solar glass business fell to 11.4%, mainly due to low average prices and continued pressure from fixed costs. Based on the potential for a re-rating driven by policy stimulus and supply constraints, the group's rating has been upgraded to "buy" with a target price of HK$3.6.