Citibank: Maintains a "neutral" rating on Fuyao Glass (06865.HK), expects glass business to turn into losses by 2026.

Zhitong Finance APP learned that Citigroup released a research report stating that it has lowered the target price of Flat Glass (06865.HK) by 33.3% due to profit reduction forecasts, but still maintains a "neutral" rating. Due to sluggish demand for solar installations in China, the bank expects Flat Glass' business to turn into a loss in 2026. The reason is that the price of 2.0mm solar glass has dropped significantly by 18.2% to 9.0 yuan per square meter so far this year.