Xinyi Solar Holdings Limited (XYS, stock code: 00968) and Xinyi Glass Holdings Limited (XYG, stock code: 00868) jointly announced the renewal of their continuing connected transactions for production equipment purchases under a new agreement for 2026. The Proposed 2026 Annual Cap is set at RMB107.3 million.

According to the announcement, as of 30 November 2025, the purchase amount under the 2025 agreement stood at RMB1.2 million—0.7% of a RMB168.8 million cap—mainly due to slower capacity expansion amid a supply-demand imbalance in the solar glass sector. This was notably lower than the 2024 utilisation rate of 69.2%, when RMB199.4 million was spent under a RMB288.0 million cap. Two production lines were suspended in the second half of 2025, and the unaudited profit for the first half of 2025 decreased by 58.8% year-on-year.

The companies anticipate that industry conditions will stabilise, easing supply-demand pressures and supporting capacity expansion. The Proposed 2026 Annual Cap of RMB107.3 million, which is about half of the actual transaction amount in earlier years, reflects this outlook while allowing flexibility for higher purchase volumes. The directors confirm that all relevant internal control procedures will continue to be observed, including obtaining market price quotations or detailed cost breakdowns to ensure fair and reasonable transaction pricing under the new agreement.