China's Xinyi hits lowest in nearly 3 weeks on weak earnings forecast

Xinyi Glass Holdings

21/07/2025 05:26

** Shares of Xinyi Glass Holdings 0868.HK fall 2.4% to HK$7.98, their lowest since July 2

** Co expects H1 net profit to drop 55%-65% y/y, amid declines in revenue and gross profit from its float glass business

** Xinyi, with market value of $4.5 bln, says a significant drop in the number of newly completed property projects in China has led to sluggish demand for float glass products and suppressed products prices

** The Hang Seng Commerce & Industry Index .HSNC climbs 0.5%, while the Hang Seng Index .HSI adds 0.3%

** YTD, stock up 2.7%

($1 = 7.1785 Chinese yuan)

($1 = 7.8493 Hong Kong dollars)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))