Core Viewpoint - Citigroup has downgraded its revenue forecasts for Xinyi Glass for the years 2025 to 2027 by 5%, reflecting pressure on average selling prices and profit margins in the float glass segment [1] Revenue and Profit Margin Adjustments - Gross margin forecasts have been reduced by 1.3 to 2.8 percentage points, now expected to range between 28.5% and 30.2% [1] - Net profit forecasts have been cut by 21% to 38%, with expected figures of 2.6 billion, 3.3 billion, and 3.7 billion yuan for the respective years [1] Business Segment Performance - The automotive glass business is expected to see a significant increase in profit contribution and has shown strong gross margin performance [1] Valuation Adjustments - The valuation multiple for Xinyi Glass's core glass business has been increased to a projected price-to-earnings ratio of 10 times for this year [1] - The target price for Xinyi Glass has been raised from 7.55 HKD to 9.01 HKD, while maintaining a "neutral" rating [1] Outlook - The company maintains a cautious outlook on the short to medium-term prospects despite the adjustments in valuation and target price [1]

Core Viewpoint - Xinyi Glass has signed a project agreement with the Saudi Industrial Cities and Technology Zones Authority (MODON) during the Future Mining Conference on January 14, 2026, with a total investment of approximately $386 million [1] Group 1: Project Details - The project will cover an area of over 350,000 square meters [1] - It plans to establish production lines for float glass, automotive glass, and high-performance Low-E energy-saving glass [1] - The products will be widely used in the construction and automotive sectors [1] Group 2: Strategic Importance - Once operational, the project will become Xinyi Glass's flagship production base in the Middle East [1] - It will also mark the establishment of the first automotive glass production facility in Saudi Arabia [1]

Investment Rating - The report suggests a focus on industry bottom layout opportunities, indicating a cautious but optimistic outlook for the company's long-term growth potential [3]. Core Insights - The signing of the investment agreement with MODON marks a significant step in the company's globalization strategy and optimization of regional and product structure [3]. - The project in Saudi Arabia is expected to fill a gap in the local automotive glass manufacturing industry, aligning with Saudi Arabia's Vision 2030 localization strategy [2]. - The project aims to enhance the company's overall profitability by introducing high-value automotive glass and Low-E energy-saving glass production lines, which will help mitigate the cyclical fluctuations of domestic float glass [2]. Summary by Sections Event Overview - On January 14, 2026, the company signed an investment agreement in Saudi Arabia with a total investment of approximately $386 million, covering over 350,000 square meters for the construction of float, automotive, and high-performance Low-E energy-saving glass production lines [1]. Strategic Significance - The project allows the company to avoid trade barriers and deepen regional layout, effectively mitigating potential tariff risks and leveraging Saudi Arabia's free trade agreements [2]. - As the first automotive glass manufacturer in Saudi Arabia, the project provides a significant first-mover advantage, enabling the company to secure local supply chain demands amid the country's automotive industry development [2]. - The project is expected to benefit from local policy support in terms of taxes and energy, while proximity to energy sources will help control production costs [2].

Group 1 - The core point of the article is that Xinyi Glass (Bozhou) Co., Ltd. has obtained a patent for a smart cutting device for glass, indicating innovation in the glass manufacturing sector [1] - The patent, titled "A Smart Cutting Device for Glass," was granted with the announcement number CN117623615B, and the application date was November 2023 [1] - Xinyi Glass (Bozhou) Co., Ltd. was established in 2015 and is primarily engaged in the non-metallic mineral products industry, with a registered capital of 10 million RMB [1] Group 2 - The company has participated in 353 bidding projects and holds 27 patents, along with 6 administrative licenses, showcasing its active engagement in the industry [1]

本月底法定/註冊股本總額： HKD 2,000,000,000 FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 信義玻璃控股有限公司 呈交日期: 2026年1月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00868 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 | HKD | | 0.1 | HKD | | 2,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 20,000,000,000 | HKD ...

Core Viewpoint - Xinyi Energy Storage (08328.HK) has announced the establishment of an energy management solutions agreement, which will enable the operation of BTM energy storage stations and provide energy management solutions to Xinyi Energy Saving (Wuhu) and Xinyi Glass (Jiangsu) [1] Group 1 - The energy management solutions agreement is set to be effective by December 30, 2025 [1] - The company will operate BTM energy storage stations as part of this agreement [1] - The energy management solutions will be provided specifically to Xinyi Energy Saving and Xinyi Glass [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本聯合公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本聯合公告全部或任何部份內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 Xinyi Glass Holdings Limited 信義玻璃控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：00868） 聯合公告 Xinyi Solar Holdings Limited 信義光能控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：00968） 控股股東亦為信義玻璃的控股股東（定義見上市規則）。控股股東及彼等各自的家 庭成員（定義見上市規則）可控制組成信義光能董事會的大部分成員。因此，信義 光能及其附屬公司為由控股股東及彼等各自的家庭成員所持有的佔多數控制權的 公司（定義見上市規則），因此為控股股東的聯繫人及信義玻璃的關連人士。電力 框架協議項下擬進行的交易構成信義玻璃的持續關連交易。 持續關連交易 電力銷售 董事會謹此宣佈，於二零二五年十二月二十四日（交易時段後）訂立電力框架協 議，據此，信義光能集團的成員公司將於滿足自身的電力需求後，向信義玻璃集 ...

Xinyi Solar Holdings Limited 信義光能控股有限公司 香港交易及結算所有限公司及香港聯合交易所有限公司對本聯合公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本聯合公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 （股份代號：00968） Xinyi Glass Holdings Limited 信義玻璃控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：00868） 聯合公告 重續持續關連交易 採購生產設備 由於二零二五年生產設備採購協議將於二零二五年十二月三十一日屆滿，信義光 能與信義玻璃之附屬公司已於二零二五年十二月二十四日（交易時段後）訂立二零 二六年生產設備採購協議，重續期自二零二六年一月一日起至二零二六年十二月 三十一日止（包括首尾兩日）為期一年。 上市規則的涵義 信義光能 （於開曼群島註冊成立之有限公司） 信義玻璃為信義光能的主要股東。因此，信義玻璃（及其附屬公司）為信義光能的 關連人士，而二零二六年生產設備採購協議項下擬進行的交易構成信義光能的持 續關連交易。 鑒於經參考二零二六年生產設備採購協議項下交 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本聯合公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本聯合公告全部或任何部份內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 XINYI GLASS HOLDINGS LIMITED 信義玻璃控股有限公司 （於開曼群島註冊 成立之有限公司） （股份代號：00868） XINYI ELECTRIC STORAGE HOLDINGS LIMITED 信義儲電控股有限公司 （於開曼群島註冊 成立之有限公司） （股份代號：08328） XINYI ENERGY HOLDINGS LIMITED 信義能源控股有限公司 （於英屬處女群島註冊 成立之有限公司） （股份代號：03868） XINYI SOLAR HOLDINGS LIMITED 信義光能控股有限公司 （於開曼群島註冊 成立之有限公司） （股份代號：00968） 聯合公告 關連交易 出售及購買 金寨信義風能之股權 於二零二五年十二月二十三日（交易時段後），信義玻璃（蕪湖）與安徽信義電源訂 立股權轉讓協議，雙方有條件同意出售，而信義能源（繁昌）則有條件同意購買股 權。 有 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00868 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 | HKD | | 0.1 | HKD | | 2,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 20,000,000,000 | HKD | | 0.1 | HKD | | 2,000,000,000 | 本月底法定/註冊股本總額： HKD 2,000,000,000 致：香港交易及結算所有限公司 公司名稱 ...