Xinyi Energy Holdings Ltd
03868: XHKG (HKG)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
HK$7.45 | Ncnhp | Hjmynbsd |
Xinyi Energy: Guiding Weaker Preliminary Results
No-moat Xinyi Energy guided that it expects its net profit for the first half of 2024 to decrease by 25%-35% year on year. This is weaker than our full-year 2024 earnings growth estimate of about 11% year on year. We keep our earnings forecasts and fair value estimate of HKD 1.60 per share unchanged for now, pending the release of the final first-half results on July 31. We expect Xinyi's near-term share price performance to be pressured by the disappointing guidance.