Citigroup: Maintains "Neutral" rating on Xinyi Solar (00968.HK) and lowers target price to 2.4 Hong Kong dollars.

According to the Wisdom Finance App, Citigroup released a research report stating that it maintains a "neutral" rating for GCL-Poly Energy Holdings Limited (00968.HK) due to a significant cut in profit forecasts. The target price has been reduced by 35.1% to 2.4 Hong Kong dollars. However, the bank believes that the decline in photovoltaic glass prices has already been absorbed, and the current valuation is equivalent to a forecasted 2026 P/B ratio of only 0.7 times, which is not expensive.