智通财经网·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, reflecting strong profit contributions from the automotive glass segment and excellent gross margin performance [1] - Citigroup has adjusted the target price for Xinyi Glass from HKD 7.55 to HKD 9.01 while maintaining a "Neutral" rating [1] - The bank has lowered its revenue forecasts for Xinyi Glass for the years 2025 to 2027 by 5%, and gross margin forecasts have been reduced by 1.3 to 2.8 percentage points, now ranging between 28.5% and 30.2% [1] Group 2 - Net profit forecasts have been cut by 21% to 38%, with projected figures of RMB 2.6 billion, RMB 3.3 billion, and RMB 3.7 billion for the respective years [1] - The adjustments reflect pressures on average selling prices and profit margins for float glass [1] - The bank maintains a cautious outlook on the company's short to medium-term prospects due to ongoing economic and real estate market challenges that continue to suppress recovery [1]