Flat Glass Group profits plunge 82% amidst industry oversupply

Flat Glass Group's total revenue for the first six months of 2025 decreased by 27.66% to RMB7,737,028.14 thousand from RMB10,695,995.49 thousand in the same period of 2024. Net profit attributable to owners of the parent company plummeted by 82.27% to RMB261,094.61 thousand compared to RMB1,498,620.33 thousand in H1 2024. The gross profit margin also fell significantly to 14.05% from 23.78% in the prior year, primarily due to a sharp decline in photovoltaic glass selling prices.

Despite the challenging market, the company's total assets saw a slight increase of 0.65% to RMB43,196,821.75 thousand, and total equity rose by 0.76% to RMB21,948,667.81 thousand as of June 30, 2025, compared to December 31, 2024. Cash generated from operating activities remained strong at RMB1,400,703,275.25 thousand, though this was lower than RMB1,745,865,470.74 thousand in the prior year.

The Group is actively implementing strategic adjustments, including reducing capacity, improving quality and efficiency, and strengthening cost competitiveness to mitigate the impact of the downturn. The company plans to leverage its financial strength and innovative technologies to navigate market fluctuations and drive future growth.