Xinyi Glass reports drop in net profit

Shares of Xinyi Glass Holdingsfell 5.83 percent yesterday after the company reported a sharp drop in its 2011 net profit due to a price war, according to a Feb. 28 report in The Standard. Profit attributable to shareholders fell 19.5 percent from 2010, while gross profit margin tumbled 28.6 percent due to price competition in float glass and solar glass products, according to the report.

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