Oct 22nd, gtja research report pointed out that fuyao glass (600660.SH) third quarter report for 2024 meets expectations, as passenger vehicle demand remains strong under policy easing, maintaining strong revenue growth despite a high Q3 base. Additionally, the company's efforts to improve quality, efficiency, decrease raw material costs, and increase production capacity have driven gross margin to a new high. Considering the sustained improvement in passenger vehicle demand supported by policies such as trade-ins, the company's EPS for 2024-2026 is revised to 2.88(+0.23)/3.41(+0.32)/4.04(+0.50) yuan. With a reference PE ratio of 20.53 for 2025, the target price is set at 70 yuan, maintaining a "shareholding" rating.