Domestic Demand Makes Glass Profits Skyrocket

(China Glass Network) Due to the skyrocketing domestic demand, Xinyi Glass broke the record of last half year; its net profits increased 185 percent, up to 641.84 million HKDs. Its tempering price is 8 cent per share.

Glass manufacturer’s revenue jumped 62.7 percent from 2.65 billion USDs in the last year. Among of this, 64.9 percent up to 1.72 billion USDs comes from China mainland. The revenue of mainland in the first half year has increased by 114.3 percent over the same period.

CEO of Xinyi Glass, Wesley said Xinyi changed its focus from exporting model to domestic markets.  The revenue from abroad has come down to 35 percent from 60 percent from three years ago.

Lee said, glass orders of new transportation have reached a high record, so that Xinyi Glass will invest 9 billion HKDs to expand its production capacity this year.