Flat Glass Group (6865) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended 30 September 2024 was RMB 14.60 billion, down 8.06% year-over-year.

• Net profit attributable to equity owners for the nine months was RMB 1.30 billion, a decrease of 34.18% year-over-year.

• Third quarter net profit attributable to equity owners was negative RMB 202.97 million, a decline of 122.97% compared to the same quarter last year.

Financial highlights

• Basic and diluted EPS for the nine months were RMB 0.55, down 38.45% and 38.36% year-over-year, respectively.

• Weighted average return on equity for the nine months was 5.80%, down 6.24 percentage points year-over-year.

• Net cash flow from operating activities for the nine months was RMB 3.02 billion.

• Total assets as of 30 September 2024 were RMB 44.11 billion, up 2.63% from year-end 2023.

• Equity attributable to owners was RMB 22.29 billion, up 0.35% from year-end 2023.

Outlook and guidance

• Ongoing progress in photovoltaic glass manufacturing projects at Anhui and Nantong bases.