Flat Glass Group Co (6865) AI Stock Analysis

• Market Cap: HK$33.84B
• Dividend Yield: 5.67%
• Average Volume (3M): 7.57M
• Price to Earnings (P/E): 20.7
• Beta (1Y): 1.02
• Revenue Growth: -18.50%
• EPS Growth: -83.76%
• Country: HK
• Employees: 7,759
• Sector: Technology
• Sector Strength: 88
• Industry: Construction
• EPS (TTM): 0.17
• Shares Outstanding: 441,715,000
• 10 Day Avg. Volume: 7,548,417
• 30 Day Avg. Volume: 7,565,753
• PEG Ratio: -4.45
• Price to Book (P/B): 0.90
• Price to Sales (P/S): 1.31
• P/FCF Ratio: 419.69
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$11.28
• Price Target Upside: 25.66% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): 0.51
• Revenue Forecast (FY): HK$15.71B

• Rating: 52 Neutral
• Price Target: HK$9.50 ▲(5.79% Upside)
• Action: Reiterated Date: 03/28/26
• Date: Action: Reiterated 03/28/26

The score is held back primarily by weakening fundamentals and especially poor/volatile free-cash-flow conversion, despite a manageable leverage profile. Technicals add further pressure as the stock is in a downtrend with negative momentum. A high dividend yield provides partial support, but the P/E is not clearly discounted relative to the recent slowdown.

Positive Factors

Focused PV glass manufacturer

The company’s clear specialization in solar PV glass aligns its core revenues with the photovoltaic supply chain. Persistent product focus supports scale economies, process expertise, and supplier/customer relationships that sustain competitive position and margins over medium term.

Negative Factors

Volatile, weak free cash flow

Near‑zero free cash flow after historically negative conversion shows earnings are not reliably converting to distributable cash. Persistent FCF volatility constrains reinvestment, debt paydown, and shareholder returns, raising long‑term financing and execution risks.

Flat Glass Group Co Business Overview & Revenue Model

Company Description

Flat Glass Group Co., Ltd., together with its subsidiaries, engages in the manufacture and sale of glass products in the People's Republic of China, the rest of Asia, Europe, North America, and internationally. The company offers photovoltaic glas...

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Flat Glass Group Co., Ltd., together with its subsidiaries, engages in the manufacture and sale of glass products in the People's Republic of China, the rest of Asia, Europe, North America, and internationally. The company offers photovoltaic glas...

How the Company Makes Money

The company primarily makes money by manufacturing and selling solar PV glass (and related glass products) to customers in the photovoltaic supply chain (e.g., solar module manufacturers). Revenue is mainly generated from product sales, with earni...

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The company primarily makes money by manufacturing and selling solar PV glass (and related glass products) to customers in the photovoltaic supply chain (e.g., solar module manufacturers). Revenue is mainly generated from product sales, with earni...

Flat Glass Group Co Financial Statement Overview

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	15.12B	18.68B	21.52B	15.46B	8.71B
Gross Profit	2.39B	2.82B	4.69B	3.41B	3.09B
EBITDA	3.54B	3.77B	5.48B	3.80B	2.89B
Net Income	955.20M	1.01B	2.76B	2.12B	2.12B
Balance Sheet
Total Assets	42.70B	42.92B	42.98B	32.38B	20.08B
Cash, Cash Equivalents and Short-Term Investments	5.01B	5.96B	6.85B	2.98B	3.04B
Total Debt	15.08B	15.04B	14.99B	12.81B	5.19B
Total Liabilities	20.25B	21.14B	20.69B	18.35B	8.27B
Stockholders Equity	22.03B	21.70B	22.22B	14.03B	11.81B
Cash Flow
Free Cash Flow	47.12M	1.03B	-3.65B	-7.89B	-3.19B
Operating Cash Flow	2.85B	5.91B	1.97B	176.90M	579.73M
Investing Cash Flow	-2.88B	-5.55B	-5.83B	-7.87B	-3.56B
Financing Cash Flow	-1.19B	-1.35B	7.00B	7.85B	3.95B

Flat Glass Group Co Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 8.98
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6865, the sentiment is Negative. The current price of 8.98 is below the 20-day moving average (MA) of 9.48, below the 50-day MA of 10.42, and below the 200-day MA of 10.59, indicating a bearish trend. The MACD of -0.41 indicates Positive momentum. The RSI at 39.43 is Neutral, neither overbought nor oversold. The STOCH value of 25.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6865.

Flat Glass Group Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
8646	62 Neutral	HK$176.54M	1.77	9.68%	―	5.34%	43.91%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
6865	52 Neutral	HK$33.84B	20.70	4.47%	5.67%	-18.50%	-83.76%
1108	43 Neutral	HK$5.18B	-2.35	-24.93%	―	-35.74%	-1755.61%

Flat Glass Group Co Corporate Events