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Flat Glass Group (6865) investor relations material
Flat Glass Group H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Operating revenue for H1 2025 was RMB7,737.0 million, down 27.66% year-over-year due to overcapacity and price declines in the PV glass industry.
Net profit attributable to shareholders was RMB261.1 million, an 82.58% decrease year-over-year, reflecting intense competition and falling prices.
The company responded by reducing production capacity and implementing cost and efficiency measures.
Financial highlights
Gross profit for H1 2025 was RMB1,087.1 million, down 57.27% year-over-year; gross margin fell to 14.05% from 23.78%.
EBITDA was RMB1,451.6 million, with an EBITDA margin of 18.76%, down from 28.16% in H1 2024.
Net profit for H1 2025 was RMB266.0 million, down from RMB1,500.3 million in H1 2024.
Net assets/shareholders' equity as of 30 June 2025 were RMB21,948.7 million, up slightly from year-end 2024.
Total assets reached RMB43,196.8 million, a 0.65% increase from 31 December 2024.
Basic and diluted EPS for H1 2025 were RMB0.11, compared to RMB0.64 in H1 2024.
Outlook and guidance
The company expects continued industry rationalization, with further phasing out of outdated capacity and a focus on quality and efficiency improvements.
Future project implementation will depend on market conditions and construction progress.
Strategic focus remains on quality, efficiency, and maintaining industry leadership amid challenging market conditions.
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