XINYI SOLAR HOLDINGS LIMITED Financials Xinyi Solar Holdings Limited
Equities
968
KYG9829N1025
Renewable Energy Equipment & Services
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 5.3 HKD | +1.34% |
|
+0.38% | +16.23% |
| Apr. 09 | Tech-Sector Strength Lifts Asian Stock Markets | MT |
| Apr. 05 | Wall Street Cues, Interest Rates Quell Asian Stock Markets | MT |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 21,064 | 44,693 | 178,387 | 117,536 | 76,864 | 47,222 | 47,222 | - |
| Enterprise Value (EV) 1 | 29,049 | 49,781 | 175,209 | 118,086 | 79,570 | 48,280 | 58,411 | 59,008 |
| P/E ratio | 11.1 x | 18.3 x | 36.6 x | 23.8 x | 20.2 x | 9.7 x | 9.1 x | 7.13 x |
| Yield | 4.44% | 2.53% | 0.84% | 2.04% | 2.31% | 4.93% | 5.35% | 6.67% |
| Capitalization / Revenue | 2.75 x | 4.91 x | 14.5 x | 7.32 x | 3.74 x | 1.52 x | 1.4 x | 1.15 x |
| EV / Revenue | 3.79 x | 5.47 x | 14.2 x | 7.35 x | 3.87 x | 1.81 x | 1.74 x | 1.44 x |
| EV / EBITDA | 9.22 x | 12.5 x | 26.1 x | 15.4 x | 11.6 x | 6.26 x | 6.23 x | 5.16 x |
| EV / FCF | -38.8 x | -64.8 x | 176 x | -90.2 x | -106 x | -11.3 x | -30.5 x | 15.1 x |
| FCF Yield | -2.58% | -1.54% | 0.57% | -1.11% | -0.95% | -8.83% | -3.28% | 6.62% |
| Price to Book | 2.02 x | 3.15 x | 6.73 x | 3.88 x | 2.58 x | 1.27 x | 1.33 x | 1.21 x |
| Nbr of stocks (in thousands) | 7,659,557 | 8,081,863 | 8,809,254 | 8,890,763 | 8,896,240 | 8,909,889 | 8,909,889 | - |
| Reference price 2 | 2.750 | 5.530 | 20.25 | 13.22 | 8.640 | 5.300 | 5.300 | 5.300 |
| Announcement Date | 2/25/19 | 3/16/20 | 3/1/21 | 2/28/22 | 2/27/23 | 2/28/24 | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 7,672 | 9,096 | 12,316 | 16,065 | 20,544 | 26,629 | 33,666 | 41,051 |
| EBITDA 1 | 3,151 | 3,998 | 6,709 | 7,690 | 6,872 | 7,718 | 9,370 | 11,430 |
| EBIT 1 | 2,277 | 3,203 | 5,853 | 6,514 | 5,318 | 5,893 | 7,212 | 9,041 |
| Operating Margin | 29.68% | 35.21% | 47.53% | 40.55% | 25.88% | 22.13% | 21.42% | 22.02% |
| Earnings before Tax (EBT) 1 | 2,246 | 3,093 | 5,758 | 6,568 | 5,181 | 5,571 | 6,861 | 8,682 |
| Net income 1 | 1,863 | 2,416 | 4,561 | 4,924 | 3,820 | 4,187 | 5,154 | 6,495 |
| Net margin | 24.29% | 26.57% | 37.03% | 30.65% | 18.59% | 15.72% | 15.31% | 15.82% |
| EPS 2 | 0.2486 | 0.3027 | 0.5532 | 0.5556 | 0.4287 | 0.4703 | 0.5823 | 0.7435 |
| Free Cash Flow 1 | -748.2 | -768.6 | 996.5 | -1,310 | -754.1 | -4,974 | -1,916 | 3,905 |
| FCF margin | -9.75% | -8.45% | 8.09% | -8.15% | -3.67% | -19.27% | -5.69% | 9.51% |
| FCF Conversion (EBITDA) | - | - | 14.85% | - | - | - | - | 34.17% |
| FCF Conversion (Net income) | - | - | 21.85% | - | - | - | - | 60.12% |
| Dividend per Share 2 | 0.1220 | 0.1400 | 0.1700 | 0.2700 | 0.2000 | 0.2250 | 0.2837 | 0.3533 |
| Announcement Date | 2/25/19 | 3/16/20 | 3/1/21 | 2/28/22 | 2/27/23 | 2/28/24 | - | - |
1HKD in Million2HKD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S1 | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,997 | 5,099 | 4,623 | 7,693 | 8,075 | 7,990 | 9,698 | 10,847 | 12,142 | 14,487 |
| EBITDA | 1,722 | 2,386 | 2,360 | - | 4,400 | - | - | - | - | - |
| EBIT 1 | 1,291 | 1,977 | 1,914 | - | 3,863 | 2,519 | 2,658 | 2,660 | 2,170 | 3,735 |
| Operating Margin | 32.31% | 38.76% | 41.4% | - | 47.84% | 31.52% | 27.41% | 24.52% | 17.87% | 25.79% |
| Earnings before Tax (EBT) 1 | 1,160 | 1,933 | 1,838 | - | 4,018 | - | 2,657 | - | - | 3,553 |
| Net income 1 | 952.7 | 1,464 | 1,406 | - | 3,072 | 1,852 | 1,905 | - | - | 2,796 |
| Net margin | 23.84% | 28.71% | 30.42% | - | 38.05% | 23.18% | 19.64% | - | - | 19.3% |
| EPS | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/7/19 | 3/16/20 | 8/3/20 | 3/1/21 | 8/2/21 | 2/28/22 | 8/1/22 | 2/27/23 | 7/31/23 | 2/28/24 |
1HKD in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 7,986 | 5,089 | - | 550 | 2,707 | 7,681 | 11,189 | 11,786 |
| Net Cash position 1 | - | - | 3,178 | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.535 x | 1.273 x | - | 0.0715 x | 0.3939 x | 0.9952 x | 1.194 x | 1.031 x |
| Free Cash Flow 1 | -748 | -769 | 996 | -1,310 | -754 | -4,974 | -1,916 | 3,905 |
| ROE (net income / shareholders' equity) | 18.1% | 19.6% | 22.4% | 17.3% | 12.7% | 13.6% | 15.2% | 17.5% |
| ROA (Net income/ Total Assets) | 7.99% | 9.24% | 12.7% | 10.6% | 7.67% | 7.54% | 8.38% | 9.53% |
| Assets 1 | 23,330 | 26,145 | 35,910 | 46,247 | 49,823 | 55,504 | 61,510 | 68,129 |
| Book Value Per Share 2 | 1.360 | 1.750 | 3.010 | 3.410 | 3.340 | 3.590 | 3.990 | 4.370 |
| Cash Flow per Share 2 | 0.3100 | 0.2100 | 0.5200 | 0.4000 | 0.6600 | 0.5600 | 0.6500 | 0.8800 |
| Capex 1 | 3,034 | 2,134 | 3,249 | 4,938 | 6,646 | 9,117 | 7,087 | 5,255 |
| Capex / Sales | 39.55% | 23.46% | 26.38% | 30.74% | 32.35% | 35.32% | 21.05% | 12.8% |
| Announcement Date | 2/25/19 | 3/16/20 | 3/1/21 | 2/28/22 | 2/27/23 | 2/28/24 | - | - |
1HKD in Million2HKD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
BUY
Number of Analysts
26
Last Close Price
5.3
HKD
Average target price
6.802
HKD
Spread / Average Target
+28.33%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +16.23% | 6.03B | |
| -18.69% | 19.47B | |
| +3.74% | 19.13B | |
| -15.29% | 15.23B | |
| -13.38% | 13.47B | |
| -13.32% | 10.6B | |
| +37.48% | 7.64B | |
| -16.81% | 7.26B | |
| -30.07% | 6.63B | |
| -6.60% | 5.98B |
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