Fuyao Glass Industry Group (03606) Q1 2026 earnings summary

Executive summary

• Operating revenue for Q1 2026 rose 5.08% year-over-year to RMB10.41 billion.

• Net profit attributable to shareholders declined 15.68% year-over-year to RMB1.71 billion.

• Total assets increased 4.68% from year-end 2025, reaching RMB73.34 billion.

Financial highlights

• Total profit dropped 18.42% year-over-year to RMB2.03 billion, mainly due to a swing from exchange gains to losses.

• Excluding exchange impacts, total profit increased 9.63% year-over-year.

• Net cash flows from operating activities fell sharply by 82.22% year-over-year to RMB357 million, due to higher settlements by bills and increased payments of maturing bills.

• Basic and diluted EPS were RMB0.66, down from RMB0.78 in Q1 2025.

• Return on weighted average net assets was 4.46%, down 1.07 percentage points year-over-year.

Outlook and guidance

• Management commentary attributes profit decline to exchange losses, suggesting underlying business growth remains positive when currency effects are excluded.