[ET Net News Agency, 17 June 2021] Xinyi Solar Holdings Limited (00968) said the amount
of the consolidated net profit attributable to the equity holders of the company for the
six months ending 30 June 2021 is expected to increase significantly by 100% to 120%, as
compared to the amount of the net profit of HK$1,406.5 million for the six months ended 30
June 2020.
Such increase was driven by the increases in the sales and the profitability of the
solar glass business of the group as a result of (1) the increases in the average market
prices of the group's major solar glass products for the six months ending 30 June 2021,
as compared to the same for the six months ended 30 June 2020, even though such price has
dropped substantially during the second quarter of 2021; (2) the increases in the sales
volume of the group's major solar glass products for the six months ending 30 June 2021,
as compared to the same for the six months ended 30 June 2020; and (3) the improvement in
the production efficiency which reduced the adverse impact of the increasing amounts of
raw material and energy costs. (RC)