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Xinyi Solar Shares Drop After Weaker Annual Profit

Por: MarketWatch Business February 28, 2023

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Xinyi Solar on Monday said its net profit dropped 22% in 2022, missing market expectations. Analysts cited weaker profitability as the main drag on Xinyi's bottom line. We attribute its 2022 earnings miss to solar glass gross profit margin cut, Citi analysts said in a note, pointing to margin pressure from lower selling prices and higher raw-materials cost. However, Citi said such profitability pressure should gradually ease from 2023, and... + full article



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