Xinyi Solar
| Company type | Public |
|---|---|
| Industry | Solar energy, Manufacturing |
| Predecessor | Xinyi Glass (spin-off) |
| Founded | 2008 in Dongguan, China |
| Headquarters | Dongguan , China |
Area served | Global |
Key people | Lee Yin Yee (Chairman) |
| Products | Solar photovoltaic glass |
| Owner | Xinyi Glass (approx. 23%) |
Xinyi Solar Holdings Limited (), founded in 2008 in Dongguan as a spin-off from Xinyi Glass, focuses on the development, production, sales, and after-sales service of solar photovoltaic glass. It ranks as the largest global manufacturer of solar cover glass, commanding a 30% share of the market according to JP Morgan Asia Pacific Equity Research. The company’s chairman is Lee Yin Yee, while Xinyi Glass maintains an ownership stake of about 23%.
Since its listing on the Hong Kong Stock Exchange in December 2013, Xinyi Solar has expanded its operations through its subsidiary Xinyi Energy, which manages solar farms. Xinyi Energy went public in May 2019 with support from sponsor BNP Paribas SA and key investors Law Kar-po and Ma Jianrong.
In 2017, the company achieved revenues of 9.527 billion HKD, reflecting a 58.6% increase compared to the previous year, alongside a net profit of 2.332 billion HKD, marking a 17.4% rise. Xinyi Solar was incorporated into the Hang Seng Index in June 2021 and later included in the Hang Seng China Enterprises Index in February 2022. Additionally, it was recognized by Goldman Sachs as one of 50 stocks likely to benefit from China’s common prosperity policy.
The firm revealed intentions in 2022 to list A shares on the Shenzhen Stock Exchange, aiming to secure more substantial investment inflows and better align its valuation with other Chinese solar companies. Its expansion is underpinned by China’s carbon neutrality goals, which are boosting demand for photovoltaic glass products.
Although US sanctions targeting solar products originating from Xinjiang, where part of Xinyi Solar’s manufacturing takes place, have introduced uncertainties, market reactions have varied. The stock price experienced a sharp rise in June 2021 due to anticipated impacts on competitors but fell in December 2021 amid concerns related to Xinjiang. Investment professional Ken Xu remains confident about Xinyi Solar’s long-term outlook, driven by global trends favoring clean energy adoption.
See also
External links
- Companies listed on the Hong Kong Stock Exchange
- Companies listed on the Frankfurt Stock Exchange
- Companies in the Hang Seng Index
- Companies based in Dongguan
- Manufacturing companies established in 2008
- Civilian-run enterprises of China
- Solar energy companies of China
- Companies based in Wuhu
- Chinese companies established in 2008
- Manufacturing companies of China