On March 19, Gelonghui reported that China International Capital Corporation's Research Reports indicate that FUYAO GLASS (600660.SH) is expected to achieve a Net income of 7.498 billion yuan in 2024, an increase of 33% year-on-year; in Q4, the Net income is expected to be 2.019 billion yuan, an increase of 34% year-on-year and 2% quarter-on-quarter. The performance meets market expectations. In terms of Business, the projected revenue from automotive glass in 2024 is 35.712 billion yuan (up 19.5% year-on-year), and float glass revenue is 5.961 billion yuan (up 4.4% year-on-year), with high value-added products (smart canopies, coated glass, etc.) accounting for a year-on-year increase of 5.02 percentage points to 59%. Regarding overseas expansion, the company announced an increase in investment of 0.4 billion USD in its North American factory to enhance automotive glass and float glass production capacity. Additionally, the Hungarian subsidiary has established a presence in Eastern Europe to serve European customers nearby, further enhancing the Global production capacity network. The outlook for the company's Global market share increase is optimistic, reflecting strong Operational resilience. The A-share rating remains outperforming the Industry with a Target Price of 68.50 yuan, while the H-share rating remains outperforming the Industry with a Target Price of 66.50 HKD.