Xinyi Glass Holdings Limited (“Xinyi Glass” or the “Group”) (stock code: 00868.hk), a leading integrated automobile glass, energy-saving architectural glass and high-quality float glass manufacturer, has announced its annual results for the year ended 31 December 2018 (“FY2018”).
During the year under review, its overall revenue, gross profit and net profit recorded historical highs, driven by overall sales volume growth in float glass, automobile glass and energy saving architectural glass and effective cost control to stabilize the production costs. The Group also continued to further pursue its strategy of introducing more diversified and differentiated product portfolio, as well as expanding high value-added product portfolio, and has strategically advanced its global expansion strategy in order to fully implement a prudent and pragmatic business strategy.
During FY2018, thanks to the strong performance of the float glass, automobile glass and architectural glass businesses, the Group’s revenue increased by 8.7% to HK$16,014.5 million. Gross profit increased by 7.9% to HK$5,875.4 million and gross profit margin was 36.7%. The Group’s net profit for the year increased by 5.6% to HK$4,236.8 million, and net profit margin reaching was 26.5%. Basic earnings per share were 105.7 HK cents.
Xinyi Glass is in a sound financial position. As of 31 December 2018, the Group had cash on hand of HK$4,692.3 million. (31 December 2017: HK$3,057.1 million).
The Board of Directors has proposed the payment of a final dividend of HK [27.0] cents per share. Together with an interim dividend of HK25.0 cents already paid, the total dividend for the year amounts to HK [52.0] cents, representing a dividend payout ratio of [49.0]%.
