HK-listed Xinyi Glass surges on robust earnings outlook

Xinyi Glass Holdings

21/12/2021 02:51

** Shares of Xinyi Glass Holdings Ltd  0868.HK  rise 5.8% to
HK$18.18, heading for their biggest daily percentage gain since
Dec. 2, and first session of gain in three
    ** Stock of the Chinese float glass maker is the biggest
percentage gainer in the Hang Seng Index  .HSI  and the Hang
Seng Composite Index on industrials  .HSCIIG  
    ** Co expects its 2021 net profit to rise 70%-85% from a
year ago to a range of HK$10.9 bln and HK$11.9 bln ($1.40
bln-$1.53 bln) due to increase in average selling prices and
sales volume of its float glass amid strong demand in
China urn:newsml:reuters.com:*:nFWN2T50LH
    ** Also cites increase in profit contribution from its solar
glass making unit Xinyi Solar Holdings Ltd  0968.HK 
    ** Co says the final results will be published by
end-February or early March 2022 
    ** The Hang Seng Composite Index tracking industrials
 .HSCIIG  eases 0.1%, while the material index  .HSCIM  slips
0.5%
    ** The Hang Seng China Enterprises Index  .HSCE  and the
Hang Seng Index  .HSI  both climb 0.2%
    ** As of last close, stock had fallen 20.7% this year
($1 = 7.7992 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))