HK Stock Market Move | CHINA GLASS (03300) falls nearly 5%, expected to expand losses to as much as 5.8 billion yuan last year.

CHINA GLASS (03300) fell by nearly 5%, and at the time of publication, it dropped by 4.9% to HK$0.485, with a turnover of HK$1.4015 million. On the news front, on the evening of March 16, CHINA GLASS issued a profit warning, expecting a loss of not more than RMB 5.8 billion for the year ending December 31, 2025, an increase of about RMB 4.8 billion from the net loss of RMB 9.64 billion in 2024. This is mainly due to the impact of the deep adjustment in the domestic real estate and the slowdown in the growth of the photovoltaic industry, resulting in a continuous weakening of the demand in the domestic glass market, imbalance of supply and demand in the industry, facing dual pressures of price and cost, leading to a significant decrease in the gross profit margin of the group's domestic products, and causing some domestic glass production lines of the group to suspend production in the previous year and subsequent years. After comprehensively evaluating the market environment, the operation status of production lines and the future plans of the management for the suspended production lines, the group made a provision of approximately RMB 4.6 billion for impairment on some production lines.