HK Stock Market Move | Flat Glass (06865) fell more than 3% after issuing a profit warning, with the expected first-half net profit attributable to shareholders decreasing by over 80% year-on-year. The selling price of photovoltaic glass has significantly declined.

FLAT GLASS (06865) fell more than 3% after issuing a profit warning, as of the time of this report, it has fallen by 2.51% to HKD 10.08, with a turnover of HKD 72.9495 million. On the news front, on July 14th, FLAT GLASS announced that the Group expects to achieve a net profit attributable to shareholders of the listed company of RMB 230 million to RMB 280 million in the first half of 2025, a decrease of 81.32% to 84.66% year-on-year. It is expected that the net profit attributable to shareholders of the listed company excluding non-recurring gains and losses will be RMB 195-245 million, a decrease of 83.45% to 86.82% year-on-year. The announcement stated that the expected decrease in net profit is mainly due to the comprehensive impact of the following factors: affected by factors such as overcapacity in the photovoltaic industry, intensified industry competition, and internal competition, the selling price of photovoltaic glass in the reporting period significantly decreased compared to the same period last year, leading to a significant decrease in the company's sales revenue and net profit. The lower purchasing cost of some key raw materials such as soda ash and quartz sand, as well as a series of technological innovations and quality improvement and efficiency enhancement measures, partially offset the adverse impact of the price decline. The company made provisions for impairment losses for glass furnaces used in cold repair and some inventory of photovoltaic glass.