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Xinyi Glass sees 50% of sales from energy saving glass

Xinyi Glass Holdings Ltd. sees 50% of its revenue coming from energy saving glass products when these enter the market towards the end of 2007.
Xinyi Glass allocates about 1% of revenue a year to res…

Xinyi Glass Holdings Ltd. sees 50% of its revenue coming from energy saving glass products when these enter the market towards the end of 2007. Xinyi Glass allocates about 1% of revenue a year to research and development (R&D). According to Xinyi Glass financial controller Lau Shak-yuan, the company is working on SOLAR-X, a type of energy saving auto glass that offers a gross profit margin as high as 40%. At the same time, the firm is developing a type of water repellent auto glass. The new product is in trial use and may be released onto the market in 2007. At present, Xinyi Glass is fulfilling orders for building glass and auto glass at a price of HKD 1,800 and HKD 2,300 per ton.

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