China Glass (03300) announced a net loss attributable to equity shareholders of approximately RMB 4.893 billion in 2025, representing an increase of about 4.58 times year-on-year.

CHINA GLASS (03300) announced its performance for the year 2025, with a net income from continuing operations of approximately 1.458 billion yuan, a decrease of 0.16% year-on-year; the company's equity shareholders' share of the loss is approximately 4.893 billion yuan, an increase of about 4.58 times year-on-year. In 2025, the group's continuing operations demonstrated strong market competitiveness and profitability resilience. The group operates two high-quality float glass production lines in Nigeria and Kazakhstan overseas, with the production and operation of the lines running smoothly during the reporting period. The group produced approximately 5.37 million weight boxes of glass of various types, a decrease of about 22% compared to the same period last year, with sales of approximately 7.82 million weight boxes, an increase of about 6% compared to the same period last year. The average selling price is 143 yuan per weight box, a decrease of about 3% compared to the same period last year. The announcement stated that the loss was mainly attributed to the continued weakening demand in the domestic glass market due to the deep adjustment of the domestic real estate industry and the slowdown in the growth of the photovoltaic industry, leading to an imbalance in the industry's supply and demand structure. The group faced dual pressure from prices and costs, resulting in a significant decrease in the gross profit margin of the group's domestic products and causing some domestic glass production lines to be suspended in 2025 and thereafter. Based on the above reasons, the group assessed the market environment comprehensively, the operating conditions of the production lines, and the management's future plans for the suspended production lines, and made provisions for impairment of approximately 4.237 billion yuan for certain production lines, factories, equipment and right-of-use assets, and goodwill.