According to the Zhitong Finance App, Xinyi Solar (00968) announced its 2026 interim results, with revenue of about 8.43 billion yuan, a year-on-year decrease of 22.9%; profit attributable to the company's equity holders was 39 million yuan, a year-on-year decrease of 94.8%; basic profit per share was 0.43 points, and an interim dividend of HK0.23 cents per share.

Among them, the group's solar glass revenue decreased by 24.4% year on year to 7.163 billion yuan. The decrease was mainly due to a sharp drop in average selling prices and a decrease in sales volume. Revenue from the renewable energy business fell 15.8% to $1.21 billion. The main reasons for the decline include: (i) increased electricity restrictions in some regions; (ii) the new electricity price policy did not guarantee electricity sales and electricity prices for some projects as before; and (iii) under the market-based trading mechanism, electricity sales prices fluctuated more clearly than before, which led to increased revenue volatility.

Net interest rate decreased from 6.8% in the first half of 2025 to 0.5% in the first half of 2026, mainly due to a decline in gross margin in the solar glass and renewable energy business, but this impact was partially offset by reduced financial costs in the first half of 2026 and undeveloped impairment losses on industry, plant and equipment.

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