Fuyao Glass Industry Group Co., Ltd. Class H (HK:3606)
:3606
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Fuyao Glass Industry Group Co., Ltd. Class H
(3606)
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Rating:73Outperform
Price Target:
HK$71.00
▲(13.33% Upside)
Action:Reiterated
Date:04/23/26
The score is driven primarily by strong operating profitability and returns, supported by a multi-year revenue expansion. The main risks tempering the score are weaker cash flow conversion with a recent free-cash-flow decline and a higher recent leverage level. Technicals are mixed (short-term momentum positive but longer-term moving averages still overhead), while valuation is supported by a reasonable P/E and a strong dividend yield.
Positive Factors
High profitability and returns
Sustained high margins and a ~24% ROE indicate structural cost advantages and pricing power in automotive glass. These durable profitability metrics support reinvestment, dividend capacity and resilience through automotive cycles, underpinning long-term cash generation and shareholder returns.
Negative Factors
Declining free cash flow and weak conversion
A sharp FCF decline and ~42% conversion from net income indicate working capital and reinvestment are absorbing cash. This weakens the firm's ability to deleverage, fund capex or sustain dividends without raising debt or cutting investment, constraining financial flexibility over months.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and returns
Sustained high margins and a ~24% ROE indicate structural cost advantages and pricing power in automotive glass. These durable profitability metrics support reinvestment, dividend capacity and resilience through automotive cycles, underpinning long-term cash generation and shareholder returns.
Read all positive factors
Fuyao Glass Industry Group Co., Ltd. Class H (3606) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$165.02B
Dividend Yield4.35%
Average Volume (3M)2.30M
Price to Earnings (P/E)19.5
Beta (1Y)0.54
Revenue Growth16.74%
EPS Growth24.19%
CountryHK
Employees37,910
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)3.43
Shares Outstanding606,757,200
10 Day Avg. Volume2,484,106
30 Day Avg. Volume2,304,465
Financial Highlights & Ratios
PEG Ratio0.83
Price to Book (P/B)4.19
Price to Sales (P/S)3.52
P/FCF Ratio27.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$75.87Price Target Upside21.11% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)3.96
Revenue Forecast (FY)HK$52.56B
Fuyao Glass Industry Group Co., Ltd. Class H Business Overview & Revenue Model
Company Description
Fuyao Glass Industry Group Co., Ltd., together with its subsidiaries, provides solutions of safety glass and automotive accessories for various transportation vehicles in China and internationally. It designs, manufactures, sells, and services aut...
How the Company Makes Money
Fuyao primarily makes money by manufacturing and selling automotive glass and related glazing products to (1) automotive OEM customers and (2) the automotive replacement (aftermarket) channel. The OEM business is typically driven by awarded supply...
Fuyao Glass Industry Group Co., Ltd. Class H Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
72
Positive
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 45.88B | 44.73B | 39.25B | 33.16B | 28.10B | 23.60B |
| Gross Profit | 17.17B | 16.52B | 14.22B | 11.74B | 9.56B | 8.47B |
| EBITDA | 12.26B | 12.89B | 11.35B | 8.92B | 7.67B | 5.83B |
| Net Income | 8.92B | 9.07B | 7.50B | 5.63B | 4.76B | 3.15B |
Balance Sheet | ||||||
| Total Assets | 73.34B | 70.78B | 63.25B | 56.63B | 50.77B | 44.78B |
| Cash, Cash Equivalents and Short-Term Investments | 21.93B | 22.22B | 18.79B | 18.52B | 17.03B | 14.33B |
| Total Debt | 16.60B | 21.70B | 12.15B | 14.33B | 11.71B | 10.40B |
| Total Liabilities | 34.20B | 32.24B | 27.57B | 25.22B | 21.78B | 18.49B |
| Stockholders Equity | 39.14B | 37.58B | 35.69B | 31.43B | 29.00B | 26.31B |
Cash Flow | ||||||
| Free Cash Flow | 4.42B | 5.70B | 3.08B | 3.15B | 2.76B | 3.35B |
| Operating Cash Flow | 10.23B | 11.41B | 8.56B | 7.62B | 5.89B | 5.68B |
| Investing Cash Flow | -7.21B | -5.97B | 55.73M | -4.45B | -7.66B | -1.86B |
| Financing Cash Flow | -2.45B | -4.70B | -3.36B | -2.28B | -1.24B | 1.95B |
Fuyao Glass Industry Group Co., Ltd. Class H Technical Analysis
Negative
62.65
Price Trends
59.85
Negative
62.07
Negative
64.19
Negative
Market Momentum
0.30
Positive
44.17
Neutral
27.16
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3606, the sentiment is Negative. The current price of 62.65 is above the 20-day moving average (MA) of 60.88, above the 50-day MA of 59.85, and below the 200-day MA of 64.19, indicating a bearish trend. The MACD of 0.30 indicates Positive momentum. The RSI at 44.17 is Neutral, neither overbought nor oversold. The STOCH value of 27.16 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3606.
Fuyao Glass Industry Group Co., Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$165.02B | 19.54 | 24.34% | 4.35% | 16.74% | 24.19% | |
65 Neutral | HK$45.64B | 5.90 | 12.26% | 1.39% | 11.26% | 15.82% | |
64 Neutral | HK$25.97B | 9.04 | 9.88% | 2.03% | -3.02% | 11.38% | |
62 Neutral | HK$12.80B | 13.39 | 4.89% | 1.02% | 7.11% | 65.26% | |
62 Neutral | HK$10.64B | 28.26 | 8.17% | ― | 11.61% | -12.63% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | HK$10.34B | -75.86 | -3.48% | ― | 6.97% | 76.15% |
* Consumer Cyclical Sector Average
HK:3606
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Fuyao Glass Industry Group Co., Ltd. Class H Corporate Events
Fuyao Glass Shareholders Approve All Resolutions at 2025 AGM and 2026 Class Meetings
Apr 21, 2026
Fuyao Glass Industry Group Co., Ltd. held its 2025 annual general meeting along with the first 2026 A share and H share class meetings in Fujian, China, on April 21, 2026. Shareholders holding all issued A and H shares were entitled to vote, and n...
Fuyao Glass Posts Q1 Revenue Growth but Profit and Cash Flow Slide
Apr 21, 2026
Fuyao Glass Industry Group has released its unaudited first-quarter 2026 financial report, showing operating revenue of RMB 10.41 billion, up 5.08% year on year, but with notable pressure on profitability. Total profit fell 18.42% to RMB 2.03 bill...
Fuyao Glass Sets Board Meeting to Approve First-Quarter 2026 Results
Apr 8, 2026
Fuyao Glass Industry Group has scheduled a board meeting for April 21, 2026, to review and approve the consolidated quarterly results for the three months ended March 31, 2026. The announcement signals the forthcoming disclosure of the companyR...
Fuyao Glass Calls 2025 AGM and Proposes RMB3.13 Billion Dividend Payout
Mar 24, 2026
Fuyao Glass Industry Group has convened its 2025 annual general meeting for April 21, 2026 in Fujian, where shareholders will review the 2025 board and independent directors’ reports, the annual report, and a remuneration management system f...
Fuyao Glass Calls 2026 H Share Class Meeting to Vote on Governance Changes
Mar 24, 2026
Fuyao Glass Industry Group has called its first 2026 H share class meeting for April 21, 2026 in Fujian, to be held alongside its annual general meeting and A share class session. H shareholders on the register as of April 14, 2026 will be eligibl...
Fuyao Glass Proposes RMB 1.2 Final Dividend for 2025 H Shares
Mar 17, 2026
Fuyao Glass Industry Group has proposed a final ordinary cash dividend of RMB 1.2 per share for the financial year ended 31 December 2025, with payment scheduled for 15 June 2026 to shareholders on a record date yet to be announced. The Hong Kong ...
Fuyao Glass Confirms 2025 Results and Plans 59% Payout in Cash Dividends
Mar 17, 2026
Fuyao Glass Industry Group has released its audited annual results for 2025, confirming that the report complies with Hong Kong listing rules and that all directors attended the board meeting. The company’s financial statements received stan...
Fuyao Glass Moves to Align Articles with New CSRC and Hong Kong Rules
Mar 17, 2026
Fuyao Glass Industry Group has proposed amendments to its Articles of Association to align with recent regulatory changes introduced by the China Securities Regulatory Commission and the updated Hong Kong Listing Rules. The revisions reflect the s...
Fuyao Glass Sets March Board Meeting to Approve 2025 Results and Consider Dividend
Mar 2, 2026
Fuyao Glass Industry Group has scheduled a board meeting for March 17, 2026 to review and approve the annual results for the year ended December 31, 2025. At the same meeting, directors will also consider recommending a final dividend, a decision ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.