[ET Net News Agency, 24 November 2020] Daiwa Research lifted its target price for Xinyi
Solar Holdings (XYS) (00968) to HK$15.3 from HK$13.5 and upgraded its rating to
"outperform" from "hold", given a likely sustainable generous GPM and potential positive
profit alerts ahead.
The research house expects that the PV (photovoltaic) glass ASP is likely to stay at the
record high level of >CNY40/m2 with XYS's glass gross margin approaching 60%. Daiwa
expects a similar FY2020 profit alert to be announced in mid-December.
Due to the tight supply, XYS has hiked its November PV glass price by 20% to CNY42/m2
(3.2mm, including tax) for large contracts, and that for small contracts to CNY43-45/m2
depending on the scale. As 4Q is likely to be the peak season for domestic installations,
the tight supply for PV glass is getting worse with no meaningful supply ramp-up on the
horizon, Daiwa noted.
It lifted its 2020-22 EPS forecasts by 3-20% to reflect its new ASP assumptions. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00968 XINYI SOLAR
Nominal 
3.080 +0.170 (+5.842%) Others
24/11/2020 10:19
{I-bank focus}Daiwa upgrades Xinyi Solar (00968) to HK$15.3
| Remark: | Real time quote last updated: 24/09/2024 14:07 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |