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Xinyi Solar Warns of Lower Profit or Swing to Loss in H1

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Xinyi Solar (HKG:0968) expects a substantial decline in attributable profit for the six months ended June 30 to up to 50 million yuan or a net loss of a maximum of 50 million yuan, compared with a net profit of 745.8 million a year prior.

The solar photovoltaic glass maker attributed the forecast to a significantly lower profit from the sales of solar glass products, the recognition of impairment provisions for inventories, and a decline in revenue from solar power generation, according to a Friday Hong Kong bourse filing.

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