On 20 November 2025, Xinyi Energy Holdings Limited (Stock code: 03868) and Xinyi Solar Holdings Limited (Stock code: 00968) jointly announced an agreement to dispose of 51% of the registered capital of Xinyi Solar (Tianjin) to Tianjin Binhai CINE for RMB514.59 million, subject to adjustments. Upon completion, Xinyi Solar (Tianjin) will cease to be a subsidiary of both companies and will be accounted for using the equity method.
According to the announcement, the net profit before taxation of Xinyi Solar (Tianjin) for the years ended 31 December 2023 and 2024, and the six months ended 30 June 2025, ranged between RMB136.60 million and RMB141.66 million. After taxation, the corresponding figures ranged between RMB99.56 million and RMB106.52 million. As of 30 June 2025, its net asset value stood between RMB812.27 million and RMB816.15 million in the respective unaudited consolidated financial statements of Xinyi Energy and Xinyi Solar.
The transaction is classified as a discloseable transaction under Chapter 14 of the Listing Rules for both companies, as the highest applicable percentage ratios exceed 5% but are below 25%. Both Xinyi Energy and Xinyi Solar anticipate recognizing after-tax gains upon completion, estimated at RMB161.22 million and RMB157.34 million respectively, subject to final audit. Xinyi Energy plans to use the net proceeds from the disposal for general working capital purposes.
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