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Xinyi Energy Holdings Limited
(3868)
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Rating:67Neutral
Price Target:
HK$0.94
▼(-19.74% 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
High profitability margins
Very high gross and operating margins with a strong net margin in 2025 indicate durable earning power in core solar operations. Sustained margin advantage cushions against tariff or generation volatility, supports internal funding for projects, and underpins long-term cash generation capacity.
Negative Factors
Slowing revenue / 2025 revenue decline
A decline in revenue in 2025 signals weakening top-line momentum which can erode scale benefits and limit future margin expansion. For a project-driven renewables operator, slower capacity additions or lower realized tariffs reduce long-term earnings growth potential and constrain reinvestment plans.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability margins
Very high gross and operating margins with a strong net margin in 2025 indicate durable earning power in core solar operations. Sustained margin advantage cushions against tariff or generation volatility, supports internal funding for projects, and underpins long-term cash generation capacity.
Read all positive factors
Xinyi Energy Holdings Limited (3868) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$6.73B
Dividend Yield7.17%
Average Volume (3M)8.69M
Price to Earnings (P/E)6.9
Beta (1Y)1.00
Revenue Growth1.50%
EPS Growth9.01%
CountryHK
Employees618
SectorGeneral
Sector StrengthN/A
IndustryRenewable Utilities
Share Statistics
EPS (TTM)0.11
Shares Outstanding8,520,776,000
10 Day Avg. Volume8,275,791
30 Day Avg. Volume8,693,286
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$1.23Price Target Upside5.56% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.09
Revenue Forecast (FY)HK$2.24B
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 | 2.30B | 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
0.85
Negative
0.97
Negative
1.06
Negative
Market Momentum
-0.02
Negative
38.13
Neutral
32.50
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 0.80, above the 50-day MA of 0.85, and above the 200-day MA of 1.06, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 38.13 is Neutral, neither overbought nor oversold. The STOCH value of 32.50 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$6.73B | 6.92 | 6.50% | 7.17% | 1.50% | 9.01% | |
60 Neutral | HK$13.77B | 5.01 | 6.76% | 9.49% | -0.65% | -23.33% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | HK$8.33B | 29.45 | 3.02% | 6.10% | -5.89% | -85.93% | |
51 Neutral | HK$108.35B | 11.07 | 4.65% | 3.32% | -10.35% | -36.96% | |
46 Neutral | HK$121.98M | -0.24 | 24.82% | ― | ― | ― | |
38 Underperform | HK$948.59M | -0.70 | -185.82% | ― | -46.74% | -71.88% |
* General Sector Average
HK:3868
Xinyi Energy Holdings Limited
0.80
-0.47
-36.95%
HK:0916
China Longyuan Power Group
5.45
-2.37
-30.32%
HK:1165
Shunfeng International Clean Energy
0.02
0.00
0.00%
HK:0451
GCL New Energy Holdings
0.56
-0.45
-44.55%
HK:0579
Beijing Jingneng Clean Energy Co., Ltd. Class H
1.64
-0.69
-29.49%
HK:1798
China Datang Corp. Renewable Power Co. Ltd. Class H
1.12
-1.43
-56.15%
Xinyi Energy Holdings Limited Corporate Events
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...
Xinyi Energy Sets Late-July Board Meeting to Approve Interim Results and Mull Dividend
Jul 21, 2026
Xinyi Energy Holdings Limited has scheduled a board meeting for 31 July 2026 to review and approve its interim results for the six months ended 30 June 2026. The agenda also includes consideration of a possible interim dividend, signaling that the...
Xinyi Energy Flags 25–35% Profit Slide on China Power Curbs and Pricing Shift
Jul 17, 2026
Xinyi Energy Holdings has warned that net profit for the six months ended 30 June 2026 will fall by 25% to 35% from RMB449.8 million a year earlier, signaling a weaker earnings period for the solar power producer. The profit warning underscores mo...
Xinyi Energy Sets Terms for 2025 Final Scrip Dividend Scheme
Jun 8, 2026
Xinyi Energy Holdings Limited has confirmed the terms of its scrip dividend scheme linked to the final dividend for the year ended 31 December 2025, offering shareholders a choice between cash and new shares. The final dividend of HK$0.036 per sha...
Xinyi Energy Updates Final Dividend Terms and Scrip Option for 2025 Payout
Jun 8, 2026
Xinyi Energy Holdings Limited has declared a final ordinary dividend of HKD 0.036 per share for the financial year ended 31 December 2025, following shareholder approval on 29 May 2026. The dividend will be paid in cash by default in Hong Kong dol...
Xinyi Energy Wins Strong Shareholder Backing at 2026 AGM
May 29, 2026
Xinyi Energy Holdings Limited reported the results of its annual general meeting held on 29 May 2026 in Hong Kong, where all resolutions were approved by shareholders through poll voting. Investors supported the receipt of the 2025 audited financi...
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.