Zhitong Financial APP learned that Tianfeng Securities released a research report saying that to maintain Xinyi Solar's (00968) "buy" rating, based on a more cautious profit forecast for photovoltaic glass units and the pace at which new capacity was put into production, the revenue forecast for 2022-24 was lowered to 209gamble HK $315 / 42.9 billion (the same below), and the net profit forecast for homing mother was 53gamma 86 / 12.6 billion. The net profit of photovoltaic glass and photovoltaic power station is estimated to be 432,75 / 11.4 billion and 10 / 1.2 billion, respectively, with a target price of HK $17.20. Photovoltaic glass stage under pressure, the company firmly expand production in the counter-cycle, leading competitive advantage or continuous strengthening, and in the photovoltaic industry multi-link layout coordination, consolidate the medium-and long-term growth foundation, continue to be optimistic about its growth prospects and advantages.

According to the report, the company has a solid cost advantage position as a leader in the photovoltaic glass industry, and is determined to expand production (22h2 expects to put into production 5 new 1000t/d production lines, while 12 total 12800t/d production lines are planned to be built). The pace is expected to be faster than the industry, and the market share and cost advantage of photovoltaic glass may continue to strengthen. Downstream, Xinyi Solar photovoltaic power station business is profitable, there is room for development, cash flow is continuously optimized, and photovoltaic glass has a good coordination, medium-and long-term steady growth is worth looking forward to. In addition, the preliminary work of the polysilicon project is progressing smoothly and 23h2 is expected to be put into production, which will help to further expand the growth driving force of the cultivated photovoltaic industry chain.