Want to see HK:3868 full AI Analyst Report?
Top Page
Xinyi Energy Holdings Limited
(3868)
Select Model
Select Model
Rating:67Neutral
Price Target:
HK$0.79
▼(-32.31% Downside)
Action:Reiterated
Date:08/06/26
The score is driven mainly by solid financial profitability but moderated by slowing revenue, higher leverage, and inconsistent free-cash-flow conversion. Valuation is a meaningful positive (low P/E and high dividend yield), while technical indicators remain a key drag given the stock’s position below major moving averages and negative MACD despite oversold readings.
Positive Factors
Profitability
Very high gross and operating margins, together with a strong 2025 net margin, indicate that the operating platform converts revenue into earnings efficiently. This profitability provides resilience against moderate operating pressure and supports reinvestment, debt service, and shareholder distributions over the next several quarters.
Negative Factors
Slowing Revenue
The shift from modest revenue growth in 2024 to an outright decline in 2025 signals weaker top-line momentum. If sustained, slower revenue growth could limit operating leverage, reduce the pace of earnings expansion, and make future performance more dependent on margin preservation rather than broader business growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability
Very high gross and operating margins, together with a strong 2025 net margin, indicate that the operating platform converts revenue into earnings efficiently. This profitability provides resilience against moderate operating pressure and supports reinvestment, debt service, and shareholder distributions over the next several quarters.
Read all positive factors
Xinyi Energy Holdings Limited (3868) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$6.29B
Dividend Yield7.81%
Average Volume (3M)7.95M
Price to Earnings (P/E)6.4
Beta (1Y)0.89
Revenue Growth1.50%
EPS Growth9.01%
CountryHK
Employees618
SectorGeneral
Sector StrengthN/A
IndustryRenewable Utilities
Share Statistics
EPS (TTM)0.11
Shares Outstanding8,653,363,000
10 Day Avg. Volume11,173,082
30 Day Avg. Volume7,946,483
Financial Highlights & Ratios
PEG Ratio0.28
Price to Book (P/B)0.63
Price to Sales (P/S)3.48
P/FCF Ratio12.99
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$1.00Price Target Upside-14.53% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)0.08
Revenue Forecast (FY)HK$2.19B
Xinyi Energy Holdings Limited Business Overview & Revenue Model
Company Description
Xinyi Energy Holdings Limited operates as an investment holding enterprise primarily focused on the ownership, operation, and management of solar power facilities. These photovoltaic (PV) farms, situated across the People's Republic of China, coll...
How the Company Makes Money
The company primarily makes money by generating electricity from its solar PV power plants and selling that electricity to grid companies under applicable power purchase and settlement arrangements. Revenue is largely driven by (i) the volume of e...
Xinyi Energy Holdings Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
70
Positive
Cash Flow
56
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.56B | 2.66B | 2.60B | 2.52B | 2.32B | 2.30B |
| Gross Profit | 1.46B | 1.64B | 1.70B | 1.71B | 1.63B | 1.68B |
| EBITDA | 2.26B | 2.42B | 2.37B | 2.33B | 2.14B | 2.20B |
| Net Income | 978.85M | 1.10B | 841.52M | 992.99M | 971.45M | 1.23B |
Balance Sheet | ||||||
| Total Assets | 25.51B | 24.97B | 23.06B | 21.13B | 19.94B | 21.20B |
| Cash, Cash Equivalents and Short-Term Investments | 911.13M | 1.07B | 422.88M | 702.95M | 1.79B | 1.10B |
| Total Debt | 8.96B | 9.22B | 8.84B | 7.04B | 5.65B | 5.60B |
| Total Liabilities | 10.15B | 10.22B | 9.75B | 7.83B | 8.18B | 8.64B |
| Stockholders Equity | 15.36B | 14.75B | 13.31B | 13.30B | 11.75B | 12.55B |
Cash Flow | ||||||
| Free Cash Flow | 989.19M | 713.14M | -1.43B | -1.89B | 1.35B | 418.04M |
| Operating Cash Flow | 1.99B | 1.80B | 1.02B | 753.13M | 2.90B | 1.24B |
| Investing Cash Flow | -539.93M | -712.63M | -2.50B | -2.61B | -1.53B | -3.13B |
| Financing Cash Flow | -1.01B | -432.84M | 1.18B | 735.33M | -576.36M | 1.65B |
Xinyi Energy Holdings Limited Technical Analysis
Negative
1.17
Price Trends
0.78
Negative
0.84
Negative
1.00
Negative
Market Momentum
-0.02
Positive
34.83
Neutral
46.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3868, the sentiment is Negative. The current price of 1.17 is above the 20-day moving average (MA) of 0.76, above the 50-day MA of 0.78, and above the 200-day MA of 1.00, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 34.83 is Neutral, neither overbought nor oversold. The STOCH value of 46.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3868.
Xinyi Energy Holdings Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | HK$6.29B | 6.35 | 6.50% | 7.81% | 1.50% | 9.01% | |
61 Neutral | HK$102.59B | 12.24 | 3.85% | 3.56% | -6.03% | -40.34% | |
60 Neutral | HK$12.86B | 4.73 | 6.76% | 10.25% | -0.65% | -23.33% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | HK$6.47B | 23.31 | 3.02% | 7.64% | -5.89% | -85.93% | |
46 Neutral | HK$121.98M | -0.24 | 24.82% | ― | ― | ― | |
41 Neutral | HK$664.90M | -0.46 | -185.82% | ― | -46.74% | -71.88% |
* General Sector Average
HK:3868
Xinyi Energy Holdings Limited
0.73
-0.50
-40.75%
HK:0916
China Longyuan Power Group
5.08
-1.99
-28.15%
HK:1165
Shunfeng International Clean Energy
0.02
<0.01
26.32%
HK:0451
GCL New Energy Holdings
0.38
-0.40
-51.30%
HK:0579
Beijing Jingneng Clean Energy Co., Ltd. Class H
1.56
-0.65
-29.41%
HK:1798
China Datang Corp. Renewable Power Co. Ltd. Class H
0.89
-1.45
-61.98%
Xinyi Energy Holdings Limited Corporate Events
Xinyi Energy Plans Spin-Off and Shenzhen Listing of Solar Fund
Sep 27, 2026
Xinyi Energy and its parent Xinyi Solar have announced a possible spin-off involving the disposal of certain solar farm project entities into the XYE New Energy Fund and a proposed listing of that fund on the Shenzhen Stock Exchange. The projects ...
Xinyi Energy and Xinyi Solar Advance PRC Listing Plan for New Energy REIT
Aug 26, 2026
Xinyi Energy Holdings Limited and its parent Xinyi Solar Holdings Limited plan to establish the Xinyi Energy New Energy REIT in China, comprising selected solar farm projects currently owned and operated by Xinyi Energy. The proposed infrastructur...
Xinyi Energy Sets Terms for Interim Scrip Dividend Scheme
Aug 19, 2026
Xinyi Energy Holdings Limited has confirmed the terms of its scrip dividend scheme linked to the interim dividend of HK$0.021 per share for the six months ended 30 June 2026. Eligible shareholders on the 19 August record date may choose to receive...
Xinyi Energy Updates Interim Dividend and Scrip Option Terms
Aug 19, 2026
Xinyi Energy Holdings Limited has updated its interim dividend arrangements for the six months ended 30 June 2026, confirming an ordinary cash dividend of HKD 0.021 per share with a scrip option available to shareholders. Investors may elect to re...
Xinyi Energy Announces Company Secretary Transition Ahead of 2026
Aug 14, 2026
Xinyi Energy Holdings Limited has announced a planned change in its corporate secretarial and authorised representative roles, with long‑serving company secretary Mr. Chu Charn Fai set to retire for personal reasons effective 31 August 2026....
Xinyi Energy’s Interim Profit and Dividend Fall on Rising Costs
Jul 31, 2026
Xinyi Energy Holdings Limited reported a decline in interim results for the six months ended 30 June 2026, with revenue falling 13.1% year-on-year to RMB1.05 billion and profit attributable to equity holders dropping 28.9% to RMB320.0 million. Bas...
Xinyi Energy Declares Interim Dividend with Scrip Option for 2026 Half-Year
Jul 31, 2026
Xinyi Energy Holdings Limited has declared an interim ordinary dividend of HKD 0.021 per share for the six months ended 30 June 2026, payable in cash by default with an optional scrip dividend scheme. Shareholders may elect to receive new shares i...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.