Xinyi Energy Holdings Limited

Xinyi Energy Holdings Limited

HHKEX:3868
0.71
HKD
-0.02
(-3.40%)
9.37BMarket Cap
Mar 01Next Earn
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.04
0.13
0.17
0.16
0.24
0.21
0.26
0.28
0.32
0.29
0.32
- -
Basic EPS, GAAP
0.03
0.09
0.11
0.1
0.13
0.11
0.14
0.12
0.13
0.1
0.13
- -
Free Cash Flow per Basic Share
-0.41
-0.3
0.05
0.13
0.14
0.07
0.05
0.16
-0.24
-0.16
0.09
- -
Dividend per Share
- -
- -
- -
- -
0.1
0.12
0.13
0.1
0.09
0.04
0.04
- -
Book Value per Share
0.57
0.65
0.92
0.85
1.36
1.42
1.44
1.41
1.62
1.49
1.73
1.73
Tangible Book Value per Share
0.54
0.63
0.92
0.84
1.31
1.36
1.38
1.36
1.57
1.46
1.69
1.69
Basic Weighted Avg Shares
6,630
6,633
6,633
6,635
5,934
6,866
7,116
7,306
7,906
8,283
8,424
8,448
Sales/Revenue/Turnover
262
867
1,120
1,054
1,431
1,451
1,877
2,044
2,509
2,440
2,730
- -
Operating Margin (%)
80.4
72.72
72.3
72.08
73.21
70.14
71.28
68.24
65.8
64.06
60.29
- -
Depreciation Expense
65
195
248
238
318
359
457
529
665
699
868
- -
Net Income, GAAP
214
590
722
651
800
777
1,007
858
988
791
1,125
- -
Effective Tax Rate (%)
4.34
0.01
2.06
5.66
12.83
15.27
15.21
23.44
23.42
32.22
23.02
- -
Profit Margin (%)
81.81
68.06
64.48
61.71
55.93
53.54
53.66
41.96
39.38
32.41
41.2
- -
Working Capital
385
1,022
726
1,165
1,624
1,225
1,172
90
799
1,763
3,034
3,034
LT Debt
638
2,341
1,587
1,158
1,484
973
2,890
2,437
3,362
5,709
6,712
6,712
Total Equity
3,810
4,290
6,106
5,605
9,157
10,122
10,267
10,526
13,345
12,504
14,733
14,733
Return on Invested Capital (%)
- -
10.98
9.87
8.86
9.81
7.37
8.32
6.83
7.01
5.03
6.06
- -
Return on Capital (%)
- -
11.01
9.91
8.94
10.07
7.64
8.42
6.82
7.02
5.03
6.09
- -
Return on Common Equity (%)
- -
14.57
13.89
11.11
10.84
8.06
9.89
8.26
8.29
6.12
8.26
- -

Capital Structure

HKD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
2,598
2,733
2,513
LT Borrowings
4,789
5,285
5,676
LT Finance Leases
919
1,044
1,035
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
8,377
8,377
8,520
Market Capitalization
6,618
9,633
9,372

Working Capital

HKD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
4,941
6,057
6,243
Cash, Cash Equivalents & STI
354
411
1,058
Accounts Receivable, Net
4,205
5,193
4,544
Inventories
- -
- -
- -
Total Current Liabilities
3,178
3,626
3,209
Payables & Accruals
- -
- -
- -
ST Debt
2,598
2,733
2,513
Deferred Revenue
- -
- -
- -

Growth Rates

HKD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
16.29%
8.45%
17.82%
Free Cash Flow
-23.48%
-41.79%
-153.75%
Net Income, GAAP
26%
10.45%
42.23%
Sales/Revenue/Turnover
36.14%
14.03%
11.88%
Total Cash Common Dividend
- -
-11.1%
12.7%

Semi-annual Revenue

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
2,509
2024
- -
- -
2,440
2025
- -
- -
2,730

Semi-annual Earnings Per Share

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.13
2024
- -
- -
0.1
2025
- -
- -
0.13

Semi-annual Dividends Per Share

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.09
2024
- -
- -
0.04
2025
- -
- -
0.04

Company Description

CEO
Fong Ngai Tung
Full Time Employees
457
Sector
Utilities
Industry
Alternative power generation
Address
No. 102, Meidiya Road Wuhu AN China 241009
IPO Date
May 28, 2019
Business
Xinyi Energy Holdings Limited Xinyi Energy Holdings Limited (3868.HK), an investment holding company incorporated in 2015 and headquartered in Wuhu, Anhui Province, People's Republic of China, owns, operates and manages utility-scale ground-mounted solar farms; it sells electricity generated from these solar farms to local subsidiaries of state-owned grid enterprises including electricity marketing under market-based trading and electricity price adjustment mechanisms; the company deploys intelligent operation platforms encompassing big data platforms, video surveillance systems, drone inspection technologies, spray cleaning systems and robotic cleaning solutions to optimize power generation efficiency; Xinyi Energy Holdings Limited primarily serves customers in economically developed regions of Central, Eastern and Southern China, such as Anhui, Hubei, Henan, Fujian, Guangdong provinces and Tianjin Municipality, where it operates 47 solar farm projects with an aggregate approved capacity of 4,541 MW as of June 2025, capable of generating approximately 5 billion kWh of clean power annually, equivalent to reducing CO2 emissions by 4.1 million tonnes and saving 1.5 million tonnes of standard coal; as a subsidiary of Xinyi Solar Holdings Limited Xinyi Solar Holdings Limited, it focuses on the renewable energy sector with a portfolio including large-scale mountain power plants, flatland power stations, agricultural-light complementary and fishery-light complementary facilities that integrate power generation with low-value land improvement, cultivation, environmental enhancement and tourism. In 2024, the Group acquired seven utility-scale solar farm projects totaling 860 MW from Xinyi Solar Holdings Limited , comprising six grid-parity projects and one under the feed-in tariff regime, bolstering its portfolio to 46 projects with 4,510.5 MW approved capacity by year-end and paving the way for expansion to approximately 5,000 MW; a joint venture secured a bid for a 100 MW solar farm in Malaysia, slated for construction in the second half of 2025 to diversify geographically; on 20 November 2025, it entered an equity transfer agreement to divest 51% equity interest in Xinyi Solar (Tianjin), operator of the 174 MW Tianjin Huanggang Zone Solar Farm, to Tianjin Binhai CINE for RMB514.59 million cash consideration, retaining 49% stake, continuing management services and realizing gains while optimizing capital for future investments.