The Zhitong Finance App learned that UBS released a research report stating that the 2024-2026 “buy” rating will raise the 2024-2026 earnings forecast by 6%, 9% and 13%, respectively, reflecting an increase in the gross margin assumptions for PV glass. It is believed that improved demand and inventory removal will be a catalyst in the near future, and the target price will be raised from HK$6.6 to HK$6.9. The company's performance last year was better than market expectations. Net profit increased 10% year on year to 4.19 billion yuan. Net profit in the second half of last year alone increased 46% year on year and doubled from the first half of last year. I believe the strong performance was mainly due to falling natural gas and sodium carbonate costs in the second half of the year, which led to an improvement in gross margin.