On July 18, 2025, Xinyi Solar (HK:00968) released its 2025 interim results forecast, projecting that net profit attributable to shareholders will decrease by 56%-66% compared to the same period last year (RMB 1.81 billion).
The announcement stated that during the reporting period, the average selling price (ASP) of solar glass products experienced a significant decline from H1 2024, primarily due to oversupply in the solar glass market. Although increased sales volume—driven by China’s surging solar installations—and reduced costs of raw materials and energy partially offset the impact, they were insufficient to fully compensate for the price drop.
Additionally, the company recognized impairment losses on certain solar glass production facilities that have been halted, under maintenance, or undergoing renovation.
