Major Bank Rating | Citigroup: Raises the Target Price of FUYAO GLASS to HKD 68 and adjusts revenue and net profit forecasts.

Lyon published a research report indicating that FUYAO GLASS maintains rapid growth, with last year's revenue increasing by 18.4% year-on-year and net profit rising by 33.2% year-on-year, in line with expectations. Driven by the sales of Passenger Vehicles in China, the rapid adoption of electric vehicles, an increase in average selling prices due to more high-value added products, and the rapid expansion of overseas Business, the group's medium to long-term growth prospects are solid. The institution expects that this year's favorable soda ash and freight costs will lead to better profitability. It announced adjustments to the company's revenue forecasts for this year and next year, increasing them by 5% and 4% respectively, and raising net profit forecasts by 17% and 13% respectively, while also increasing its Target Price from 53 Hong Kong dollars to 68 Hong Kong dollars.

Gelonghui Finance10:02 · Ratings

Germany increases fiscal spending to promote Energy transition, and China’s solar storage sector welcomes new investment opportunities abroad.

Recently, the German Federal Parliament passed a spending bill worth 500 billion euros with more than two-thirds of the votes. The bill proposes that 100 billion euros be injected into the existing climate and transformation Fund to support the Energy transition and climate protection. The Soochow securities electric new team pointed out that as Germany increases financial support for Energy transition development, the installed capacity of photovoltaic and energy storage is expected to accelerate growth at a turning point, and the demand for Power Inverter exports is expected to benefit.

cls.cn08:38

Research Reports on Investment Opportunities丨Ping An Securities: Maintains "Recommended" rating for FUYAO GLASS, holding strong influence in the Autos Industry Chain.

On March 20, at Gelonghui, a report from Ping An Securities indicated that FUYAO GLASS (600660.SH) is expected to achieve a Net income of 7.498 billion yuan in 2024 (an increase of 33.20% year-on-year), with a Non-recurring Net income of 7.446 billion yuan (an increase of 34.71% year-on-year). The unit supply quantity and average price of automotive glass continue to rise. The production of the company's Anhui Hefei factory and Fuzhou export base in 2025 will further enhance the company's regional support capabilities. In recent years, Hefei's automotive industry has been in a phase of rapid development, particularly notable in the New energy Fund sector, and the establishment of an automotive glass project in Hefei will strengthen FUYAO's cooperation with automotive manufacturers.

Gelonghui FinanceMar 20 15:05 · Ratings

Hong Kong Stock Concept Tracking | The rush for installations in the Photovoltaic Industry leads to improvement in the Photovoltaic Glass market (including concept stocks).

Starting from March, the Photovoltaic Glass market has significantly improved, with prices rising sharply.

Zhitong FinanceMar 20 13:46

UBS Group raised the Target Price for FUYAO GLASS (03606.HK) to 75 yuan with a rating of "Buy."

UBS Group released a research report stating that according to China’s accounting standards, FUYAO GLASS (03606.HK) reported an 18.4% year-on-year increase in revenue last year to 39.25 billion yuan, benefiting from a 11.2% year-on-year increase in annual sales volume and a 7.4% increase in the price of automotive glass per square meter; the net profit for the year increased by 33.2% year-on-year to 7.5 billion yuan. The bank believes that electrification and intelligentization remain major trends for the global automotive market, and FUYAO GLASS's high-value-added products are expected to accelerate their adoption. The bank raised its Target Price from 66 yuan to 75 yuan, maintaining a 'Buy' rating.

AASTOCKSMar 20 11:56

According to "The Great Movement", Bank of America predicts that FUYAO GLASS (03606.HK) will see flat sales growth this year, but it will accelerate next year with increased production capacity.

Bank of America Securities reported that FUYAO GLASS (03606.HK) increased by 17% year-on-year to 10.9 billion yuan in the fourth quarter of last year, which is 6% lower than expected. The gross margin fell by 4.4 percentage points year-on-year to 32.1%, based on changes in the company's accounting, shifting packaging costs from promotional expenses to sales costs. After adjustment, the gross margin increased by 0.16 percentage points quarter-on-quarter to 37.2%. The bank lowered its delivery and sales forecast for the company this year by 2%, and reduced the profit forecast for this year by 3% based on accounting adjustments. The bank sees this year as a transformative period for the company, with relatively muted sales growth, considering that the two new factories in Anhui and Fujian are still under Construction.

AASTOCKSMar 20 11:47

Daiwa has raised the Target Price for FUYAO GLASS (03606.HK) to 70 yuan with a rating of "Buy".

Daiwa published a research report indicating that FUYAO GLASS (03606.HK) changed its accounting policy, resulting in a lower gross margin than expected in the fourth quarter of last year. The fourth quarter revenue increased 17% year-on-year to 10.9 billion yuan. The annual revenue rose 18% year-on-year to 39.3 billion yuan. For the fiscal year 2024, the company's glass shipment volume exceeded 0.156 billion square meters, an increase of 11.2%. The shipments in the local market in China grew 19.3% year-on-year, while the overseas market saw an increase of 19.7%, both outperforming Passenger Vehicle sales. Daiwa expects that entering 2025, the change in the accounting method for packaging costs may lead to a gross margin lower than the company's original forecast.

AASTOCKSMar 20 11:44

Citi: Maintains a "Buy" rating on FUYAO GLASS (03606) and raises the Target Price to 67 HKD.

The management believes that since the company has established a market-leading position and has stronger pricing power, it will be more resilient under the impact of tariffs compared to its peers.

Zhitong FinanceMar 20 09:35 · Ratings

FUYAO GLASS (600660): Q4 revenue reaches a new high, short-term impact on profitability from North America expansion.

Report Overview: The company's 2024 annual report meets expectations, driving ongoing prosperity in the Passenger Vehicle sector through trade-ins. Revenue in Q4 2024 has hit a new high, with gross margin remaining stable at a high level quarter-on-quarter, while the short-term impact of North America's Phase II expansion affects profits. Investment Highlights.

GTJAMar 20 00:00

Express News | Institutions are bullish on these stocks today.

BreakingsMar 19 22:02

FUYAO GLASS (600660): Both price and volume of automotive glass have risen, and the Industry Chain has strong influence.

Subject: FUYAO GLASS disclosed the 2024 annual report, in which the company achieved revenue of 39.252 billion yuan (an increase of +18.37% year-on-year) and a net income of 7.498 billion yuan (an increase of +33.20% year-on-year).

Ping An SecuritiesMar 19 18:22

Market quick view | The three major indices are mixed, with the technology index down more than 1%; Robot Concept and Alcoholic Beverages stocks are active, with Horizon Robotics rising over 4% and CHINA RES BEER rising over 5%.

Network Technology stocks fell, with Baidu Group-SW down 3.97% and Alibaba-W down 1.60%; Sporting Goods stocks generally declined, with ANTA SPORTS down 3.93% and YUE YUEN IND down 3.16%; Lithium Battery stocks rose across the board, with LEOCH INT'L up 6.04% and BYD Electronics down 3.92%.

Futu NewsMar 19 16:35

Research Reports on opportunities丨CICC: FUYAO GLASS's performance meets expectations, maintaining the AH Stocks rating of "outperforming the Industry."

Gelonghui, March 19 | China International Capital Corporation's Research Reports pointed out that FUYAO GLASS (600660.SH) has a Net income attributable to the parent company of 7.498 billion yuan in 2024, a year-on-year increase of 33%; the Net income for Q4 attributable to the parent company is 2.019 billion yuan, a year-on-year increase of 34%, and a quarter-on-quarter increase of 2%. The performance meets market expectations. By Business, in 2024, the revenue from auto glass is 35.712 billion yuan (yoy +19.5%), the revenue from float glass is 5.961 billion yuan (yoy +4.4%), and high value-added products (smart skylights, coated glass, etc.) account for an increase of 5.02 percentage points year-on-year to 59%. In terms of overseas expansion.

Gelonghui FinanceMar 19 14:29 · Ratings

FUYAO GLASS (600660): 2024 Operation performance is stable, high dividends continue.

The company's performance in 2024 meets market expectations. The company announced its 2024 results: revenue of 39.252 billion yuan, +18% year-on-year; net income attributable to shareholders of 7.498 billion yuan, +33% year-on-year. 4Q24 performance.

China International Capital CorporationMar 19 14:17

FUYAO GLASS(600660):4Q24 MARGIN MISSED ON OVERSEAS PLANTS; LABOUR INFLATION AND STARTUP COSTS MAY CONTINUE TO ERODE NEAR-TERM US PROFITABILITY

Mar 19 13:37

Hong Kong Stock Afternoon Commentary | The three major Indexes show mixed gains and losses, the Science and Technology Index fell nearly 1%; Gold and Robot Concept performed impressively, with Old Puhua Gold rising over 6%, and Yuenjiang rising over 12% t

Network Technology stocks fell, Baidu Group-SW dropped by 3.87%, MEITUAN-W fell by 1.97%; Lithium Battery stocks rose, LEOCH INT'L increased by 5.66%, BYD Company rose by 3.29%; Photovoltaic Power stocks weakened, FUYAO GLASS fell by 3.57%, XINYI GLASS dropped by 0.97%.

Futu NewsMar 19 12:13

Fuyao Glass Industry Group Investing $400 Million in Illinois Float Glass Production Line

MT NewswiresMar 19 12:04

Hong Kong stocks movement | FUYAO GLASS fell nearly 8%, planning to issue medium-term notes and short-term financing bonds.

On March 19, Gelonghui reported that FUYAO GLASS (3606.HK) dropped nearly 8% during the trading session, reaching 54.1 Hong Kong dollars. The company plans to raise no more than 3.5 billion yuan. FUYAO GLASS indicated that the proposed registered issuance scale of the medium-term notes will not exceed 1.5 billion yuan, and the specific issuance scale will be subject to the amount registered with the interbank market dealers association of the Bank Of China. The term of the medium-term notes will not exceed 3 years, and the specific issuance period will be determined based on funding needs and market conditions. As for the issuance interest rate, it will be ultimately determined based on the actual conditions of the interbank bond market at the time of issuance, according to the results of the book-building process of the medium-term notes issued by the company. The raised funds are intended for repayment.

Gelonghui FinanceMar 19 10:03

Hong Kong stock movement | FUYAO GLASS (03606) fell over 7% after earnings report, with annual net profit increasing over 33% year-on-year, planning to increase investment in FUYAO USA by 0.4 billion USD.

After the earnings report, FUYAO GLASS (03606) fell over 7%, as of this report, it is down 7.14%, priced at 54.6 Hong Kong dollars, with a transaction amount of 80.6854 million Hong Kong dollars.

Zhitong FinanceMar 19 09:39

Fuyao Glass Industry's 2024 Profit Up 33% as Revenue Rises 18%

MT NewswiresMar 19 09:22