XINYI GLASS (00868.HK) expects interim net profit down 25%

XINYI GLASS (00868.HK)  -0.100 (2.114%)     Short selling $2.55M; Ratio 2.053%      issued a profit warning, expecting that the net profit for the six months ending 30 June 2014 will be around 25% lower than that in the same period of 2013, being $1.003 billion. This is because the profit contribution from the solar glass division dropped due to the spin-off of XINYI SOLAR (00968.HK)  +0.040 (1.754%)     Short selling $5.84M; Ratio 8.548%     ; and the float glass division also operated in a difficult market environment in the second quarter of 2014, therefore, its gross profit margin declined from last year.