The hottest Xinyi Glass achieved a profit increase

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Xinyi Glass achieved a profit growth of 110.5% in the mid-term performance of 2013

Xinyi Glass Holdings Co., Ltd. (Xinyi Glass 00868-hk), a leading manufacturer of automotive glass, architectural glass, high-quality float glass and solar glass products, announced its mid-term performance as of June 30, 2013. The report shows that in the first half of 2013, due to the strong sales growth of automotive glass, architectural glass, float glass and solar photovoltaic glass, the group's turnover reached about HK $5.439 billion, an increase of 18.4% year-on-year. The net profit was about HK $1004 million, an increase of 110.5% year-on-year. The gross profit was about HK $1.696 billion, a year-on-year increase of 55.4%, and the gross profit margin was significantly improved from 23.8% to 31.2%. The basic earnings per share was HK $26.48 (the first half of 2012 was HK $12.84), and the proposed interim dividend was HK $13.0 per share

automotive glass - expand overseas glass business and achieve results to avoid damage to equipment caused by improper operation

in the first half of 2013, the group's automotive glass sales adopted flexible and active market strategies, going deep into different overseas regions to increase sales. At present, the group's automotive glass products have been sold in more than 130 countries. The turnover of its automotive glass business increased by 9.19% to about HK $1.609 billion

building glass - energy saving Low-E glass grew strongly

in the first half of this year, China's construction industry grew steadily. The Chinese government advocated the use of energy-saving building materials, the domestic affordable housing plan, and China's urbanization construction, which increased the domestic construction industry's demand for energy-saving low radiation coated glass (Low-E glass). In this context, the group expanded production capacity in Wuhu and Tianjin industrial parks, and the construction glass business achieved rapid growth. Its turnover increased by 46.35% to about HK $981million

solar glass - the demand for high-quality solar glass is stable

in the first half of 2013, the market demand for high-quality solar glass increased rapidly. The group's high-quality solar glass products have won the favor of many domestic and international customers, and its business growth is similar to that of most plastic materials, with the performance of 8.2% to about 865million Hong Kong dollars. Under the policy of the Chinese government to encourage the use of solar energy, the Group actively studies and develops the downstream market related to solar energy, such as the construction of photovoltaic power stations in major industrial parks. At present, the group is still the world's largest producer of ultra white photovoltaic primary glass

float glass - improve productivity and economies of scale, effectively reduce cost pressure

with the increase in the demand and price of high-quality float glass, the group's Tianjin Industrial Park has increased the production capacity of float glass, and the group provides a variety of widely recognized products. The group's float glass has achieved considerable growth, with its business growth of 20.29% to about HK $1.985 billion. The group has improved economies of scale, reduced average fuel consumption and used clean energy mdash; Natural gas, thereby reducing the pressure on the group's gross profit caused by the rising cost of other energy and raw materials

market analysis

Greater China continues to become the group's largest operating market. In the first half of 2013, the turnover from this region increased by 22.88% to about HK $3.888 billion, accounting for 71.48% of the group's total turnover. The group is committed to exploring new overseas markets and increasing market share with flexible sales and production strategies, which has increased the group's total turnover from overseas markets by 8.56% to about HK $1.551 billion, compared with plastic and metal


the strategic deployment of the group's production bases in China's five major economic regions: the Pearl River Delta, the Yangtze River Delta, the Bohai rim, the northeast and southwest will be gradually improved. The group will continue to maintain flexible production management and improve operating efficiency to enhance its market competitiveness. The group will also continue to invest more resources and deepen product R & D capabilities to improve product quality, production efficiency and gross profit

as the global car ownership continues to rise, and the steady development of the domestic automotive market drives the sales of supporting automotive glass, the group will focus on expanding the market for automotive replacement glass and original equipment manufacturing. The group will further develop geometric processing methods to allow users to upload individual products by increasing product categories and new customers' needs STL file users, and expand sales network to further expand this business

driven by the Chinese government's active promotion of energy-saving building materials, the government's implementation of affordable housing plans, the promotion of urbanization and the rise in the living standards of domestic people, China's construction industry will continue to develop steadily, bringing huge growth space for the demand for Low-E glass. Therefore, Xinyi Glass continues to focus on the production of energy-saving and high value-added Low-E glass products

it is expected that the domestic float glass market demand and its sales price will continue to fluctuate in the future. However, with the improvement of the float glass market and the increase of the use of energy-saving Low-E coated glass (Low-E), the future demand for float glass will have a positive effect

under the 12th Five Year Plan, the government strongly encourages the use of renewable energy, and the Chinese government plans to invest 35 MW of solar energy facilities from 2013 to 2015. With the increasing demand for solar related products, the popularization of the installation and production of solar energy systems has been promoted. Therefore, the sales of solar photovoltaic glass products of the group is expected to achieve a relatively ideal growth

the group's leading ultra-thin electronic glass production line was put into operation in the third quarter of 2013, and successfully produced 0.55mm thick electronic glass. The group is preparing to build a second ultra-thin electronic glass production line in Wuhu City to meet the growth of market demand. Ultra thin electronic glass products will be a new growth highlight of the group's future business. Zhonghua glass () Department

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