Zhi Tong Cai Jing·2026-01-19 03:53Group 1 - The core viewpoint of the article is that Citigroup has raised the valuation multiple for Xinyi Glass's core glass business to a forecasted P/E ratio of 10 times for this year, due to significant profit contributions from the automotive glass segment and strong gross margin performance [1] - The target price for Xinyi Glass has been increased from HKD 7.55 to HKD 9.01 while maintaining a "Neutral" rating [1] - Citigroup has lowered its revenue forecasts for Xinyi Glass for the years 2025 to 2027 by 5%, and adjusted gross margin forecasts down by 1.3 to 2.8 percentage points, to a range of 28.5% to 30.2% [1] Group 2 - Net profit forecasts have been reduced by 21% to 38%, resulting in projected profits of RMB 2.6 billion, RMB 3.3 billion, and RMB 3.7 billion for the respective years [1] - The cautious outlook for the company's short to medium-term prospects is attributed to ongoing economic and real estate market pressures that continue to hinder recovery [1]