The Zhitong Finance App has learned that according to market sources, Xinyi Auto Glass plans to IPO in Hong Kong next year and will raise 600 million to 700 million US dollars.
At the end of August, Xinyi Glass announced the spin-off of its automotive glass business “Xinyi Auto Glass” to be listed independently in Hong Kong. Currently, it has submitted a listing application to the Stock Exchange in a confidential form. The sponsor is France and Pakistan. The company said the spin-off would unlock its intrinsic value and support continued business growth. The proposed spin-off is expected to be carried out in the form of physical distribution, and Xinyi Glass's shareholders will prorate the new Xinyi Auto Glass shares at zero cost.
Li Xianyi, chairman of Xinyi Glass, previously stated that the spin-off does not mean a narrowing of the Group's business, but rather allows different businesses to focus on achieving a win-win situation. The Group will continue to focus on improving operational efficiency and expanding the global market.
According to reports, Xinyi Auto Glass has a history of operation for nearly 40 years. It is one of the three major business divisions of Xinyi Glass, along with Xinyi Glass's float glass business and architectural glass business. In 2025, the automotive glass business ranked first in the world in terms of revenue in the aftermarket automotive glass products market. By the end of August 2026, Xinyi Glass accounted for nearly 17% of the production capacity of float glass in mainland China, accounting for more than 10% of the world's production capacity.