China's Xinte Energy jumps most in over 6 weeks on upbeat earnings outlook

Xinte Energy

20/01/2023 05:11

** Shares of China's solar energy and wind power solutions
provider Xinte Energy Co Ltd  1799.HK  jump as much as 5.3% to
HK$16.66, their highest since Dec. 6 
    ** Xinjiang-based company, with current market value of
$3.02 bln, expects to post a net profit of tno less than 13 bln
yuan ($1.92 bln) for 2022, as compared to 4.96 bln yuan profit
in 2021 thanks to an increase in sales volume and average sales
price of polysilicon products  urn:newsml:reuters.com:*:nFWN34417Y
    ** Stock on track for its biggest daily pct rise since Jan
6, if gains hold 
    ** The Hang Seng Commerce & Industry Index  .HSNC  rises
1.6%, and the Hang Seng Composite Index tracking energy stocks
 .HSCIE  sugres 3.4%
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Index  .HSI  both gain 1%
($1 = 6.7869 Chinese yuan renminbi)
($1 = 7.8329 Hong Kong dollars)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))