The hottest Xinyi Glass made a net profit of 3.2 b

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Xinyi Glass made a net profit of 3.2 billion yuan in 2016, with a 50% increase in net profit

on February 28, the sample step was increased: Xinyi Glass (00868) issued a 2016 performance announcement, and the company's total sales reached 128. HK $4.8 billion (the same below), an increase of 12% over 2015 sales. 1%, with a net profit of 32. 1.3 billion yuan, a year-on-year increase of 52. 1%。

the profit of Xinyi Glass increased rapidly. Firstly, the sales cost was relatively reduced due to the high growth of float glass sales, and secondly, the profit contribution of Xinyi solar energy (00968) increased

Zhitong finance and economics learned that the strong demand for glass led to a collective rise in prices in 2016. According to the data, as of December 20 last year, the glass price index was 1080, an increase of 220 or about 25 compared with 2015. 7%; The glass market confidence index was 1020, up 102 from 2015, or about 11. 1%。

among the three major businesses of Xinyi Glass, float glass business developed the fastest, with revenue increasing by more than 1.6 billion yuan to 79. 600million yuan, and the gross profit also increased by 1.2 billion yuan to 17. 900 million yuan, plus the contribution of automotive glass and architectural glass, the total gross profit reached 46. 600million yuan

in addition, the company holds about 30% of the shares of Xinyi solar, and its net profit increased by 64% in 2016. 7% to 19. 8.5 billion yuan, which contributed nearly HK $600million in net profit

if it is damaged due to transportation, it is worth mentioning that at present, most of the gross profit of Xinyi Glass still comes from automotive glass, up to 18. At the same time, the gross profit margin is nearly 49%, followed by architectural glass, which is about 40%. The gross profit margin of float glass is the lowest, 22. 5%, but 8% higher than that in 2015. 7%, a sharp increase of 13. 8%, resulting in the overall gross profit margin from 27% in 2015. 3% to 36. 3%, mainly due to the improvement of production efficiency and the expansion of product portfolio, as well as the reduction of material costs and energy costs. It is understood that the cost of heavy oil, natural gas, coal tar and other fuels accounts for about 37% of the cost of glass production

however, the revenue of Xinyi Glass's automotive glass fell slightly in 2016, which was inexplicable under the overall strength of the automotive industry in 2016. Fuyao Glass (03606), China's largest automotive glass manufacturer, increased its automotive glass revenue by 12%

Xinyi Glass's float glass revenue increased significantly, reflecting the company's advantages in energy costs and the improvement of float glass production capacity, as well as the growth of float glass market demand

statistics show that as of December 2016, the total number of float glass production lines in China was 356, with a total capacity of 12. 7.2 billion heavy containers/year, compared with 201 Tian Hongfu, it is clearly pointed out that eight production lines will be added in five years. There are 236 production lines producing float glass, an increase of 14 over the previous year. Assuming that the machinery is in standby mode, the production capacity of float glass is 9. 1.3 billion heavy containers/year, an increase of 53million heavy containers/year, an increase of 6. 2%

in addition, with the recovery of glass prices, the capacity utilization rate of the glass industry began to rise from the low point of 67 in April in the second quarter. 3% rebounded to 71 in December. 2%。

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