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Fuyao Glass Industry Group Co., Ltd. Class H
(3606)
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Rating:73Outperform
Price Target:
HK$56.00
▼(-10.61% 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 & Returns
Sustained high margins and strong ROE indicate durable pricing power from specialized, value-added automotive glazing. Such profitability supports reinvestment, dividend capacity and resilience to input swings, underpinning reliable earnings generation over the medium term.
Negative Factors
Weaker Cash Conversion & FCF Decline
A sharp FCF decline and only moderate cash conversion versus reported earnings signal working-capital absorption or rising reinvestment needs. Persistent weak cash conversion can constrain dividends, deleveraging and capex flexibility, reducing financial optionality over time.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability & Returns
Sustained high margins and strong ROE indicate durable pricing power from specialized, value-added automotive glazing. Such profitability supports reinvestment, dividend capacity and resilience to input swings, underpinning reliable earnings generation 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$146.77B
Dividend Yield4.35%
Average Volume (3M)2.30M
Price to Earnings (P/E)14.6
Beta (1Y)0.55
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$75.06Price Target Upside19.80% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)3.96
Revenue Forecast (FY)HK$52.60B
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 | 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
57.17
Negative
59.17
Negative
63.62
Negative
Market Momentum
-2.19
Positive
34.81
Neutral
15.36
Positive
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 53.20, above the 50-day MA of 57.17, and below the 200-day MA of 63.62, indicating a bearish trend. The MACD of -2.19 indicates Positive momentum. The RSI at 34.81 is Neutral, neither overbought nor oversold. The STOCH value of 15.36 is Positive, 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$146.77B | 14.62 | 24.34% | 4.35% | 16.74% | 24.19% | |
68 Neutral | HK$19.91B | 7.67 | 12.24% | 2.03% | 0.22% | -23.29% | |
65 Neutral | HK$31.08B | 9.90 | 11.87% | 1.39% | 11.26% | 15.82% | |
62 Neutral | HK$9.59B | 12.00 | 4.88% | 1.02% | 7.11% | 65.26% | |
62 Neutral | HK$8.69B | 19.42 | 8.42% | ― | 11.61% | -12.63% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | HK$7.61B | -187.58 | -3.48% | ― | 6.97% | 76.15% |
* Consumer Cyclical Sector Average
HK:3606
Fuyao Glass Industry Group Co., Ltd. Class H
49.92
-4.21
-7.78%
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21.56
0.46
2.16%
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Minth Group
26.52
4.12
18.39%
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BeijingWest International
5.89
5.54
1559.15%
HK:1316
Nexteer Automotive Group
3.82
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-30.61%
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TUHU Car Inc. Class A
11.44
-7.92
-40.91%
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...
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...
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.