[ET Net News Agency, 17 March 2020] BOCOM Research lowered its target price for Xinyi
Solar (XYS)(00968) to HK$7 from HK$7.51 and maintained its "buy" rating.
The research house said XYS' 2019 revenue and attributable net profit increased 18.6%
and 29.7%, meeting BOCOM's expectations.
Affected by the epidemic, operation commencement of XYS' four new PV (photovoltaic)
glass production lines in 2020 are all expected to be delayed by one quarter. Given the
expansion delay, BOCOM cut its 2020/21 EPS forecasts by 4.1%/1.3%.
It believes the epidemic overseas is only a short-term shock, and the long-term growth
outlook of the PV industry remains intact. (KL)