Xinyi Energy jumps most in 3 months on China REIT spinoff progress

Xinyi Energy Holdings

04/06/2025 04:26

** Shares of China's solar farm operator Xinyi Energy Holdings 3868.HK, 3868.HK jump 8.8% to HK$0.99, their biggest intraday pct gain since March 3

** Stock set to snap three straight sessions of decline, if gains hold

** Xinyi Energy and parent Xinyi Solar 0968.HK said in a joint statement that application materials for proposed spinoff and listing of Solar Farm Infrastructure REIT on a stock exchange in mainland China have been submitted to National Development and Reform Commission (NDRC)

** The proposed listing subject to approvals from relevant regulatory authorities in Hong Kong and China

** The underlying assets of the Solar Farm Infrastructure REIT include selected solar farm projects currently owned and operated by Xinyi Energy

** Shares of Xinyi Solar climb 1.7% to HK$2.36, on track to snap three straight sessions of decline, if current trend holds

** The Hang Seng Commerce & Industry Index .HSNC adds 0.9% while the Hang Seng Index .HSI gains 0.5%

** YTD, Xinyi Energy shares up 29.1%

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))