XINYI GLASS (00868.HK): Worst time for float glass has passed

Tung Ching Sai, Chief Executive Officer and Executive Director of XINYI GLASS (00868.HK)  +0.020 (+0.402%)    Short selling $10.83M; Ratio 15.891%   said at a press conference that the worst time for float glass has passed and he gave it a positive outlook. Tung explained that a glut of float glass occurred last year as its production capacity reached an all-time high. However, given no additional production line coming into service over the past two years, the output growth is expected to be -2% to -5% this year. Furthermore, the oversupply is likely to be alleviated with improved real estate sales.

(Quote is delayed for at least 15 mins.Short Selling Data as at 2015-04-02 16:25.)