Xinte Energy Swings to Loss in 2024 as Revenue Falls 31% on Lower Polysilicon Prices

MT Newswires Live

04/01

Xinte Energy (HKG:1799) swung to an attributable loss of 3.9 billion yuan in 2024 from a net profit of 4.3 billion yuan in 2023, according to a Monday filing with the Hong Kong bourse.

The Chinese polysilicon producer booked a loss per share of 2.73 yuan, versus earnings per share of 3.04 yuan a year prior.

Revenue plunged 31% year on year to 21.2 billion yuan from 30.8 billion yuan, which it attributed to the significant drop in the price of polysilicon in 2024.

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