FUYAO GLASS (03606) rose over 4%, as of the time of writing, up 4.03%, reported at 56.8 HKD, with a transaction amount of 74.3616 million HKD.
According to the Zhitong Finance APP, FUYAO GLASS (03606) has risen over 4%, and as of the time of publication, it has increased by 4.03%, priced at 56.8 Hong Kong dollars, with a transaction amount of 74.3616 million Hong Kong dollars.
In terms of news, FUYAO GLASS achieved revenue of 9.91 billion yuan (RMB, the same below) in the first quarter, an increase of 12.16% year-on-year; the net income attributable to parent company was 2.03 billion yuan, an increase of 46.25% year-on-year. CSC pointed out that the income side continues to realize the logic of "increase in both volume and price" in its main business. Foreign exchange drove further profit augmentation. The decline in gross profit was mainly affected by changes in accounting policies and capacity ramp-up, but a steady recovery is expected in the future. The company has long focused on the automotive glass main business and is steadily advancing its global layout. High value-added products like skylight glass and HUD glass continue to penetrate, driving the increase in per vehicle value. There is a bullish outlook on the company’s capacity gradually being released, and its global market share continues to rise.
