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Fuyao Glass Industry Group Co., Ltd. Class H
(3606)
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Rating:73Outperform
Price Target:
HK$61.00
▼(-2.63% Downside)
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 strong ROE reflect structural pricing power and operational efficiency in automotive glazing. These durable profitability metrics imply competitive product mix, ability to capture value from advanced glass features, and ongoing capacity to fund reinvestment and shareholder returns over the medium term.
Negative Factors
Weakened free cash flow and conversion
A notable drop in free cash flow and mediocre conversion suggest earnings are less translating into distributable cash. Persistent FCF weakness can constrain funding for capex, debt repayment, or dividends, and indicates working-capital or reinvestment demands that could limit financial flexibility over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and returns
Sustained high margins and a strong ROE reflect structural pricing power and operational efficiency in automotive glazing. These durable profitability metrics imply competitive product mix, ability to capture value from advanced glass features, and ongoing capacity to fund reinvestment and shareholder returns over the medium term.
Read all positive factors
Fuyao Glass Industry Group Co., Ltd. Class H (3606) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$157.86B
Dividend Yield4.33%
Average Volume (3M)2.30M
Price to Earnings (P/E)15.6
Beta (1Y)0.56
Revenue Growth16.74%
EPS Growth24.19%
CountryHK
Employees42,541
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)4.30
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$72.55Price Target Upside15.80% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)3.93
Revenue Forecast (FY)HK$52.52B
Fuyao Glass Industry Group Co., Ltd. Class H Business Overview & Revenue Model
Company Description
Fuyao Glass Industry Group Co., Ltd., along with its subsidiaries, stands as a prominent global supplier of safety glass and various accessories for the transportation industry, serving both Chinese and international markets. The company's activit...
How the Company Makes Money
Fuyao primarily makes money by selling automotive glass and related glazing solutions through two main channels: (1) OEM supply and (2) aftermarket (replacement) supply. Under the OEM model, Fuyao contracts with vehicle manufacturers and their pro...
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 | 57.74B | 44.73B | 39.25B | 33.16B | 28.10B | 23.60B |
| Gross Profit | 16.91B | 16.52B | 14.22B | 11.74B | 9.56B | 8.47B |
| EBITDA | 15.63B | 12.89B | 11.35B | 8.92B | 7.67B | 5.83B |
| Net Income | 8.75B | 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 | 7.27B | 5.70B | 3.08B | 3.15B | 2.76B | 3.35B |
| Operating Cash Flow | 14.76B | 11.41B | 8.56B | 7.62B | 5.89B | 5.68B |
| Investing Cash Flow | -8.88B | -5.97B | 55.73M | -4.45B | -7.66B | -1.86B |
| Financing Cash Flow | -1.64B | -4.70B | -3.36B | -2.28B | -1.24B | 1.95B |
Fuyao Glass Industry Group Co., Ltd. Class H Technical Analysis
Neutral
62.65
Price Trends
54.74
Negative
57.41
Negative
62.25
Negative
Market Momentum
-0.42
Negative
56.41
Neutral
71.12
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3606, the sentiment is Neutral. The current price of 62.65 is above the 20-day moving average (MA) of 51.23, above the 50-day MA of 54.74, and above the 200-day MA of 62.25, indicating a neutral trend. The MACD of -0.42 indicates Negative momentum. The RSI at 56.41 is Neutral, neither overbought nor oversold. The STOCH value of 71.12 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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$157.86B | 15.62 | 24.34% | 4.35% | 16.74% | 24.19% | |
68 Neutral | HK$16.19B | 10.45 | 12.24% | 2.03% | 0.22% | -23.29% | |
65 Neutral | HK$30.66B | 9.76 | 11.87% | 1.39% | 11.26% | 15.82% | |
62 Neutral | HK$9.69B | 12.13 | 4.88% | 1.02% | 7.11% | 65.26% | |
62 Neutral | HK$10.26B | 22.89 | 8.42% | ― | 11.61% | -12.63% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
47 Neutral | HK$5.36B | -132.17 | -3.48% | ― | 6.97% | 76.15% |
* Consumer Cyclical Sector Average
HK:3606
Fuyao Glass Industry Group Co., Ltd. Class H
54.40
-3.16
-5.49%
HK:0179
Johnson Electric Holdings
17.53
-7.13
-28.90%
HK:0425
Minth Group
26.16
-0.43
-1.60%
HK:2339
BeijingWest International
4.15
3.82
1157.58%
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Nexteer Automotive Group
3.86
-2.31
-37.45%
HK:9690
TUHU Car Inc. Class A
13.49
-6.51
-32.55%
Fuyao Glass Industry Group Co., Ltd. Class H Corporate Events
Fuyao Glass Refines Governance Documents After Regulatory Filing in Fuzhou
Apr 30, 2026
Fuyao Glass Industry Group has completed regulatory filing of its updated Articles of Association with the Administration for Market Regulation of Fuzhou City, following shareholder approvals at its 2025 annual general meeting and related A-share ...
Fuyao Glass Sets 2025 Final Dividend and Outlines H Share Tax and Payment Details
Apr 30, 2026
Fuyao Glass Industry Group Co., Ltd. has approved a final cash dividend of RMB1.20 per share for the 2025 financial year, payable to holders of H shares on the Hong Kong register as of May 22, 2026. The H share dividend will be settled in Hong Kon...
Fuyao Glass Declares 2025 Final Dividend and Sets Tax Terms for H-Share Investors
Apr 30, 2026
Fuyao Glass Industry Group has announced a final ordinary cash dividend of RMB 1.2 per share for the financial year ended 31 December 2025, with shareholder approval obtained on 21 April 2026. The dividend for Hong Kong shareholders will be paid i...
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...
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.