Fuyao Glass Industry Group (03606) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached RMB21,971 million, up 2.44% year-over-year, outperforming industry growth despite a 4% decline in China's auto production and sales volumes.

• Net profit attributable to owners was RMB3,970 million, down 17.37% year-over-year, mainly due to a swing from RMB602 million exchange gains last year to RMB803 million exchange losses this period.

• Earnings per share were RMB1.52, a 17.39% decrease year-over-year.

• The company maintained a dual-driven strategy, deepening customer relationships, expanding production capacity, and increasing the share of high value-added products through technological innovation and global market expansion.

Financial highlights

• Profit before tax was RMB4,638 million, down 19.95% year-over-year; excluding exchange impacts, profit before tax rose 4.78%.

• Net cash from operating activities was RMB4,551 million, down 15.01% year-over-year.

• Equity attributable to owners increased 1.64% to RMB38,183 million; total assets rose 5.55% to RMB73,960 million.

• Interim dividend of RMB1.00 per share proposed, totaling RMB2,610 million, representing 65.73% of net profit.

Outlook and guidance

• The company expects continued global economic uncertainty in H2 2026 and will focus on intelligent, integrated automotive glass, digital transformation, and cost optimization.

• Plans include expanding smart cockpit solutions, enhancing supply chain efficiency and cost competitiveness, and embedding AI in core business processes.