HSBC Global Securities pointed out that Xinyi Glass (5.69, 0.14, 2.52%, real-time market) (00868.HK) last year's net profit fell 6.1%, in line with the bank's expectations, management said that business performance in the second half of 2012 has shown that the industry is recovering .
This year, the solar glass business will be separately listed, and its demand will be restored. A production line that was put on hold in Wuhan last year has been reopened. The Group expects that the number of residential buildings built in the Mainland will increase by 20% year-on-year in terms of area, which is expected to drive demand for float glass.
Based on cost stability, coupled with the rebound in construction and limited production, management is optimistic about float glass this year, and it is expected that the electronic glass business, which will begin operations this year, will have a positive contribution to the company's profits. The bank raised its 2013-14 earnings per share by 3%/5%, and its target price rose from 6.3 yuan to 6.6 yuan, and the rating maintained "overweight". (both double)
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