On August 13, XINYI SOLAR fell 5.12% in regular trading, trading at HKD 2.28/share, with turnover of HKD 78.02 million.

The decline follows the company's recently released interim results. First-half revenue came in at RMB 8.43 billion, down 22.9% year-over-year, while net profit attributable to shareholders plunged 94.8% to just RMB 39 million. The solar glass segment recorded a loss, with profitability primarily sustained by the renewable energy power generation business. Average selling prices for 2.0mm PV glass dropped from RMB 10.5/sqm at the start of the year to RMB 8.5/sqm by May. Domestic in-production capacity fell from 87,000 tonnes in March to 71,000 tonnes currently, with cold repairs accelerating in July.

BOCOM International maintained a neutral rating citing near-term earnings pressure. Huatai Securities lowered its target price to HKD 2.84 and downgraded to an overweight rating, noting that industry cold repairs remain insufficient to support a rapid price recovery. Goldman Sachs expects inventory days to decline from 51 in July to 35 by September, potentially supporting a 22% price rebound through early next year.

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