JINGWU Finance News | Citigroup's research report indicates that XINYI GLASS (00868) has changed its presentation currency from HKD to RMB and will include profit warnings as a consideration. Combined with the weak economy and Real Estate market in China, the firm's China Real Estate team expects that this year's Real Estate completion volume will decline by 13% compared to the same period last year, along with a more conservative medium to long-term assumption.
The firm has lowered its forecast for XINYI GLASS's Net income from FY 2024 to FY 2026 (excluding Exchange Rates adjustments) by 35% to 40%. The Target Price has been reduced from HKD 9.6 to HKD 7.55, and the rating has been downgraded from 'Buy' to 'Neutral.'
