Flat Glass Group Co. Ltd

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Flat Glass swings to a loss in its 2026 interim report, with a net loss of 363 million yuan

Flat Glass has released its 2026 interim report, showing a swing from profit to loss. Net profit attributable to the parent company was a loss of 363 million yuan, a decrease of 624 million yuan compared with the same period last year, down 239.04 percent year on year. Total operating revenue was 6.668 billion yuan, down 13.81 percent year on year. Net cash inflow from operating activities was 1.341 billion yuan, down 4.27 percent year on year. The company's gross margin was 8.18 percent, down 5.88 percentage points from the same period last year. Diluted earnings per share were a loss of 0.16 yuan, down 245.45 percent year on year.

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Flat Glass posts first-half loss of 363 million yuan as PV glass volume and prices both decline

Flat Glass disclosed its 2026 interim report. In the first half, it achieved operating revenue of 6.668 billion yuan, down 13.81 percent year on year. Net profit attributable to shareholders of the listed company was a loss of 363 million yuan, compared with a profit of 261 million yuan in the same period last year, swinging from profit to loss. The company said the decline in performance was mainly due to lower photovoltaic glass prices and reduced sales volume.

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Flat Glass Plans to Acquire 60% Stake in Fulai Ruicheng for Approximately 60.04 Million Yuan

Flat Glass announced that it plans to acquire a 60% equity stake in Shanghai Fulai Ruicheng New Materials Co., Ltd. from related party Jiaxing Yihe Investment Co., Ltd., with a total transaction price of 60.04 million yuan. After the acquisition, Fulai Ruicheng will become a wholly-owned subsidiary of the company. This transaction constitutes a related-party transaction but does not constitute a major asset restructuring.

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Flat Glass expects attributable net loss of 300 million to 400 million yuan in first half of 2026

Flat Glass issued an announcement on the Hong Kong Stock Exchange, expecting a net loss attributable to owners of the parent company in the range of 300 million to 400 million yuan for the first half of 2026, compared to a net profit attributable to the parent of 261 million yuan in the same period last year.

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Glass and Fiberglass Concept Strengthens Intraday, Institutions Say Long-Term Industry Growth Trend Is Positive

On July 10, the glass and fiberglass concept rose 3.54% intraday. Among related constituent stocks, Almaden rose 10.03%, Sanxia New Building Materials rose 9.84%, International Composites rose 8.26%, Kibing Group rose 5.41%, and China Jushi rose 4.94%. SDIC Securities pointed out that entering 2026, the overall supply-demand balance in the fiberglass roving industry is controllable, and corporate competitive strategies generally show a trend of co-opetition outweighing competition. It is estimated that demand in 2026 will be 8.02 million tons, a year-on-year increase of 6.26%, while total effective production capacity on the supply side will be approximately 8.06 million tons, with a net addition of 520,000 tons. The supply growth rate has clearly slowed, and coupled with the gradual implementation of multiple rounds of price increases in the earlier period, there is room for further improvement in industry profitability. Southwest Securities noted that the fiberglass industry has both cyclical and growth characteristics, with a positive long-term growth trend. It is estimated that the year-on-year growth rates of global glass fiber demand from 2025 to 2027 will be 5.1%, 6.8%, and 7.9% respectively. The downstream demand structure continues to optimize, accelerating its expansion from traditional construction sectors to emerging fields such as wind power, new energy vehicles, and electronics and electrical applications. Among these, the demand for high-performance electronic fabrics driven by AI computing power, 5G communications, and automotive intelligence is showing explosive growth, becoming the core main line of profit growth.

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Flat Glass: Flat Glass Convertible Bond Expected to Meet Conversion Price Adjustment Condition

Flat Glass announced that the conversion price adjustment condition for the Flat Glass Convertible Bond may soon be triggered. From June 21, 2026 to July 3, 2026, the company's stock closing price was below 90% of the current conversion price, i.e., 37.404 yuan per share, for 10 trading days. If the closing price falls below this level for another 5 trading days within the next 20 trading days, the conversion price adjustment condition will be formally triggered.

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