Flat Glass Group Co Class H ( (FGSGF) ) has released its Q4 earnings. Here is a breakdown of the information Flat Glass Group Co Class H presented to its investors.
Flat Glass Group Co., Ltd., a leading manufacturer in the glass industry, specializes in producing PV glass, float glass, architectural glass, and household glass, with strategic production facilities in China and Vietnam. In its 2024 annual earnings report, the company revealed a challenging year marked by a significant decline in revenue and net profit due to falling glass prices and an imbalance in supply and demand. The company’s revenue for 2024 was approximately RMB18.68 billion, a 13.20% decrease from the previous year, while net profit dropped by 63.53% to RMB1.01 billion. The decline in profitability was primarily attributed to the sharp decrease in PV glass prices, which affected the overall gross margin, despite efforts to improve quality and efficiency. Looking forward, Flat Glass Group aims to consolidate its existing advantages by reducing costs and enhancing efficiency, while also focusing on research and development to meet the growing demand for innovative and aesthetically pleasing PV glass products. The company remains committed to maintaining its competitive edge in the global PV glass market.