Asia
Xinyi Energy Warns of Up to 35% Drop in H1 Profit
Xinyi Energy (HKG:3868) expects a 25% to 35% decline in net profit for the six months ended June 30 from 449.8 million yuan a year prior, according to a Friday Hong Kong bourse filing.The power company attributed the forecast to lower on-grid electricity generation, a decline in the market price of electricity, and a change in the status of Xinyi Solar (Tianjin) from wholly-owned unit to associate after the disposal of a 51% stake.
HKG:3868
