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Flat Glass Group Co ( (HK:6865) ) has issued an update.
Flat Glass Group Co., Ltd. has issued a profit warning, anticipating a substantial year-on-year decline in net profit for 2024, with decreases expected to range between 61% to 66%. The decline is attributed to an oversupply in the PV glass market, leading to reduced selling prices, asset impairment provisions, and offset measures that could not fully counteract the profit drop. The company’s financial results have not yet been finalized and stakeholders are advised to exercise caution.
More about Flat Glass Group Co
Flat Glass Group Co., Ltd. is a joint stock company incorporated in the People’s Republic of China, primarily involved in the production of PV glass. The company focuses on serving the photovoltaic industry, supplying glass essential for solar panel manufacturing.
YTD Price Performance: 7.75%
Average Trading Volume: 400
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $5.79B
For a thorough assessment of 6865 stock, go to TipRanks’ Stock Analysis page.
