According to the Futu Securities app, Fuyao Glass (03606) rose more than 3%, as of press time, up 3.35% to HKD 46.25, with a turnover of HKD 120 million.

On the news front, Morgan Stanley's research report pointed out that the first quarter of 2024 financial data has been added to the bank's model, and the earnings per share forecast for 2024/25 has been raised by 3% and 5% respectively to reflect the improvement in product structure and the increase in gross margin, as well as stable input costs. The target price has been raised by 8.3% to HKD 39 from HKD 36. In addition, the most optimistic (bullish) target price for Fuyao Glass has been raised by 9.3% to HKD 59 from HKD 54 by Morgan Stanley, mainly reflecting the resumption of the group's business operations in Russia once geopolitical conflicts end.

It is reported that Fuyao Glass is a leading domestic automobile glass manufacturer, currently with a domestic market share of over 65% and an overseas market share of over 30%. China Merchants Securities pointed out that the policy of replacing old cars with new ones is conducive to boosting automobile sales and promoting the rapid penetration of new energy vehicles, and recommends Fuyao Glass as a key component in the automotive parts sector.