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    968   KYG9829N1025

XINYI SOLAR HOLDINGS LIMITED

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Hang Seng Index Adds Three Constituents in First Step of Overhaul

05/21/2021 | 05:25am EDT

By Clarence Leong

The compiler of Hong Kong's equities benchmark on Friday unveiled two industrial companies and a property-management provider as its newest constituents, the start of an overhaul to improve its mix of industries and broaden representation.

The compiler of the Hang Seng Index, a key gauge of Hong Kong's $6 trillion-plus stock market, named Xinyi Solar Holdings Ltd., BYD Co. and Country Garden Services Holdings Co. as its newest members in its first quarterly review since proposing sweeping changes in March.

No company was cut from the benchmark, taking the total number of constituents to 58 from 55, with changes to take effect on June 7.

This came after HSI's compiler in March announced its intention to change the composition of the key stocks index by having 80 constituents by mid-2022, eventually broadening to include up to 100 companies. The efforts will help diversify the key Asian index and reduce the outsize impact of the financial sector. It plans to allow some companies to join the benchmark after being listed for three months down from a requirement of two years currently.

The index compiler also said it would cut the maximum weight of any single company in the index to 8% from 10%. For companies with supervoting shares or secondary listings in Hong Kong, such as Chinese tech company Alibaba Group Holding Ltd., it raised the maximum weighting to 8% from 5%. These previously proposed changes will start to take effect with an index rebalancing in June. Altogether, they mark one of the HSI's biggest revamps since it was launched in 1969.

The changes also come after a period of underperformance. The HSI is up almost 17% in the past 12 months, but it lags benchmarks in China and other major exchanges across Asia.

The compiler plans to keep no more than 25 Hong Kong companies as constituents in the index, which is dominated by mainland Chinese businesses.

Write to Clarence Leong at clarence.leong@wsj.com

(END) Dow Jones Newswires

05-21-21 0725ET

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -1.19% 195.19 Delayed Quote.-16.13%
BYD COMPANY LIMITED 3.46% 239 End-of-day quote.17.62%
COUNTRY GARDEN HOLDINGS COMPANY LIMITED -4.64% 7.6 End-of-day quote.-29.10%
COUNTRY GARDEN SERVICES HOLDINGS COMPANY LIMITED -2.10% 63.05 End-of-day quote.20.21%
HANG SENG 0.96% 26185.3 Real-time Quote.-4.76%
XINYI SOLAR HOLDINGS LIMITED 3.31% 15.6 End-of-day quote.-22.96%
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06/24HANG SENG : Hong Kong Stocks Rise to Three-Week High; Xinyi Solar Jumps 3%
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Financials
Sales 2021 16 560 M 2 130 M 2 130 M
Net income 2021 5 500 M 707 M 707 M
Net cash 2021 1 313 M 169 M 169 M
P/E ratio 2021 24,6x
Yield 2021 1,89%
Capitalization 139 B 17 842 M 17 834 M
EV / Sales 2021 8,29x
EV / Sales 2022 7,11x
Nbr of Employees 5 079
Free-Float 50,6%
Chart XINYI SOLAR HOLDINGS LIMITED
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Xinyi Solar Holdings Limited Technical Analysis Chart | 968 | KYG9829N1025 | MarketScreener
Technical analysis trends XINYI SOLAR HOLDINGS LIMITED
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 29
Last Close Price 15,60 HKD
Average target price 16,72 HKD
Spread / Average Target 7,16%
EPS Revisions
Managers and Directors
Yau Ching Lee Chief Executive Officer & Executive Director
Yin Yee Lee Chairman
Kwok Kin Cheng Independent Non-Executive Director
Wan Sing Lo Independent Non-Executive Director
E Ting Kan Independent Non-Executive Director