Xinyi Glass Announces Proposed Spin-off and Separate Listing of Its Automobile Glass Business

HONG KONG, August 31, 2026 - (ACN Newswire) - Xinyi Glass Holdings Limited (“Xinyi Glass” or the “Group”) (stock code: 00868), a leading integrated automobile glass, energy-saving architectural glass and high-quality float glass manufacturer, today announced its wholly-owned subsidiary, Xinyi Automobile Glass Holdings Limited (“Xinyi Automobile Glass”), submitted the listing application (Form A1) to The Stock Exchange of Hong Kong Limited for the listing of and permission to deal with the shares of Xinyi Automobile Glass on the Main Board of the Stock Exchange. The listing application was submitted after the receipt of the Stock Exchange’s letter confirming that Xinyi Glass may proceed with the proposed spin-off  of the automobile glass business.

With its established operating history of nearly 40 years, the automobile glass business is one of the three business segments of Xinyi Glass, alongside the float glass business and the architectural glass business of Xinyi Glass. In 2025, the automobile glass business ranked first globally by revenue in the aftermarket automobile glass products market. Given its scale of operation and international business coverage, the Directors believe that the separate listing is the most appropriate approach to support the continuous growth of the Automobile Glass

Business. The separate listing will also unlock the intrinsic value of the automobile glass business and provide investors in both Xinyi Glass and Xinyi Automobile Glass with greater visibility into their respective business developments. The Directors consider that the proposed spin-off will provide clear commercial benefits to Xinyi Glass and Xinyi Automobile Glass.

Dr. LEE Yin Yee (S.B.S), Chairman of Xinyi Glass, said, "Following the proposed spin-off, investors will gain enhanced transparency into the respective business performances and strategic trajectories of both Xinyi Glass and Xinyi Auto Glass. We must emphasize that this spin-off does not signify a narrowing of Xinyi Glass’s business scope; rather, it enables each business unit to sharpen its strategic focus, fully leverage its core competencies, and achieve mutually beneficial synergies. Leveraging our enduring strengths in global footprint expansion, technological innovation, and rigorous cost management cultivated over the years, Xinyi Glass has sustained profitability levels in its float glass and architectural glass segments that consistently outperform industry peers, thereby providing the Group with a stable and robust earnings foundation. Despite the severe headwinds of an industry cyclical downturn, Xinyi Glass has not only successfully maintained solid profitability but has also continued to advance capacity expansion—positioning itself as one of the few publicly listed peers that concurrently demonstrates earnings resilience and robust growth momentum.

Benefiting from the gradual commissioning and revenue contribution of our overseas production facilities, the Group’s global market share has been steadily climbing. As of the end of August 2026, Xinyi Glass accounted for nearly 17% of Chinese Mainland’s total float glass capacity in operation, and over 10% of global capacity*. We anticipate a further expansion of our international competitive footprint in the coming years. Looking ahead, Xinyi Glass remains steadfast in its commitment to enhancing operational efficiency and broadening its global market presence. We are strategically positioned to capture greater growth opportunities upon the industry’s eventual recovery, thereby delivering sustainable, long-term value to our shareholders."

The proposed spin-off is expected to be implemented by way of distribution in specie (the “XYG Distribution”) of the shares of Xinyi Automobile Glass (the “XYA Shares”), pursuant to which each of the Shareholders (other than those who are not qualified to participate) will receive new XYA Shares for nil consideration on a pro rata basis. In addition, Xinyi Glass will sell its XYA Shares and Xinyi Automobile Glass will issue new XYA Shares as part of the proposed spin-off. Based on the current estimation, the XYA Shares to be distributed under the XYG Distribution would represent 80.0% of the total number of the XYA Shares in issue, and the sale of XYA Shares by Xinyi Glass and the issue of XYA Shares by Xinyi Automobile Glass would represent 14.0% and 6.0%, respectively, of the expected size of the offering. The global offering and the separate listing is managed and sponsored by BNP Paribas Securities (Asia) Limited.

Xinyi Automobile Glass provides automobile glass and accessory solutions covering design, development, manufacturing, delivery support and service. Its automobile glass products are sold in more than 150 countries and regions across North America, South America, Europe, Asia, Oceania, the Middle East and Africa through its sales network and regional sales teams. The automobile glass business is primarily focused on the automobile replacement glass market (ARG) market, while Xinyi Automobile Glass continues to expand its presence in the OEM market. The ARG business benefits from a broad customer base and recurring replacement demand, whereas the OEM business of Xinyi Automobile Glass enables it to participate in new vehicle model development and supply to automobile manufacturers. This business model allows Xinyi Automobile Glass to serve diverse demand drivers across the automobile glass market.

About Xinyi Glass Holdings Limited (Stock Code: 00868)

Established in Hong Kong and listed on the Main Board of the Hong Kong Stock Exchange in February 2005, Xinyi Glass is one of the largest integrated manufacturers of high quality float glass, automobile glass and architectural glass in China and overseas. Xinyi Glass’ registered trademark was recognized as “China Well-known Trademark” by the State Administration for Industry and Commerce in 2017. Its automobile glass brand was named “China Top Brand” in 2007 by the General Administration of Quality Supervision, Inspection and Quarantine of the PRC. Xinyi Glass has established 15 production complexes in various key economic zones in different provinces in all parts of China, Malacca in Malaysia as well as East Java in Indonesia. The Group has become a constituent of Hang Seng Index as well as 47 Hang Seng Indexes, including Hang Seng Composite Index, Hang Seng Stock Connect Hong Kong (“SCHK”) Index, Hang Seng Large-Mid Cap Quality Comprehensive Index, and HSI ESG Index etc., as well as MSCI Global Small Cap Index, MSCI All Country (“AC”) Far East Ex Japan Index, and MSCI Pacific Small Cap Value Index. Xinyi Glass is the single largest shareholder of Xinyi Solar Holdings Limited (stock code: 00968), holding 23.8% of the number of Xinyi Solar Shares in issue. Also, Xinyi Glass directly holds 5.73% of the number of Xinyi Energy Holdings Limited (stock code: 03868) Shares in issue.

For details, please visit www.xinyiglass.com or scan below QR code.