FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 福萊特玻璃集團股份有限公司 呈交日期： 2025年2月18日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 FF305 確認 不適用 第一章節註釋： 若股份曾以超過一個每股價格發行/出售/購回/贖回，則須提供每股成交量加權平均價格。 若購回/贖回股份將於期終結存日期之後購回/贖回結算完成之時予以註銷，則該等購回/贖回股份仍屬A部所述期終結存當日的已發行股份的一部分。該等購回/贖回股份的詳情應在B部作 出披露。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 A | | 於香港聯交所上市 | 否 | | | 證券 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 福萊特玻璃集團股份有限公司 呈交日期： 2025年2月14日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 A | | | 於香港聯交所上市 | 否 | | | 證券代號 (如上市) | | 說明 | A股（上海证券交易所） | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 公司名稱： 福萊特玻璃集團股份有限公司 呈交日期： 2025年2月13日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 A | | | 於香港聯交所上市 | 否 | | | 證券代號 (如上市) | | 說明 | A股（上海证券交易所） | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | | 佔有關事件前的現有已發 行 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 福萊特玻璃集團股份有限公司 呈交日期： 2025年2月12日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 A | | 於香港聯交所上市 | 否 | | | 證券代號 (如上市) | | 說明 | A股（上海证券交易所） | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 福萊特玻璃集團股份有限公司 呈交日期： 2025年2月11日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 A | | 於香港聯交所上市 | 否 | | | 證券代號 (如上市) | | 說明 | A股（上海证券交易所） | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股 ...

Investment Rating - The report maintains a "Buy" rating for the company [4][10]. Core Views - The company has announced a profit warning for 2024, expecting a net profit of 938-1076 million yuan, a year-on-year decrease of 61.0%-66.0%. The decline is attributed to a significant drop in photovoltaic glass prices and impairment provisions for cold repair furnaces and certain inventories [2][10]. - Despite short-term profit pressure due to weak demand and falling prices, the report suggests that the current low-price competition may lead to the elimination of outdated production capacity, optimizing the competitive landscape. As a leading player in the photovoltaic glass industry, the company is expected to maintain its competitive edge and achieve long-term growth [2][10]. Summary by Sections Performance Overview - The company anticipates a substantial decline in net profit for 2024, with a forecasted range of 938-1076 million yuan, reflecting a decrease of 61.0%-66.0% year-on-year. The expected non-recurring net profit is also projected to decrease by the same percentage [10]. - The second half of 2024 is expected to see continued pressure on profitability due to falling photovoltaic glass prices and the need for impairment provisions [10]. Market Dynamics - The photovoltaic industry is currently undergoing a supply-demand adjustment, with an oversupply of photovoltaic glass. Despite a significant cold repair and shutdown of furnaces, the high inventory levels have led to a continued decline in prices, with the average price for 2.0mm photovoltaic glass expected to drop to 11.8 yuan per square meter by the end of 2024, a 33% year-on-year decrease [11]. - The report anticipates that 2025 will see a supply-side adjustment, potentially leading to the exit of underperforming production capacity and a recovery in performance [11]. Production Capacity and Efficiency - The company has added two new photovoltaic glass production lines in H1 2024, bringing total capacity to 23,000 tons per day, which accounts for approximately 20% of the industry’s total capacity. However, cold repairs in H2 2024 will impact the company's output [12]. - The company’s large-scale furnaces, which constitute over 90% of its production capacity, provide advantages in stability and efficiency. Ongoing technological improvements and cost management initiatives are expected to mitigate some of the profit decline [13]. Financial Projections - Revenue projections for 2024-2026 are 20.75 billion, 25.77 billion, and 33.50 billion yuan, respectively, with year-on-year changes of -3.6%, +24.2%, and +30.0%. Net profit forecasts are 1.03 billion, 2.05 billion, and 3.54 billion yuan, reflecting significant fluctuations in growth rates [14][15]. - The report highlights that while short-term profitability is under pressure, the long-term outlook remains positive due to potential market adjustments and the company's strong market position [14].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is expected to face short-term pressure on performance due to a slowdown in shipments, but gradual improvement is anticipated in 2025 [1] - The company forecasts a net profit attributable to shareholders of between 940 million to 1.08 billion yuan for 2024, representing a year-on-year decrease of 61% to 66% [7] - The fourth quarter of 2024 is projected to see a slight decline in shipments, with an estimated average price of 10-11 yuan per unit [7] - The company anticipates a recovery in shipments and profitability as prices in the photovoltaic supply chain improve starting January 2025 [7] - The profit forecast for 2024-2026 has been adjusted downwards due to a slowdown in upstream component demand and increased competition [7] Financial Summary - Total revenue for 2024 is estimated at 18.332 billion yuan, a year-on-year decrease of 14.83% [1] - Net profit attributable to shareholders for 2024 is projected at 1.007 billion yuan, a year-on-year decrease of 63.50% [1] - Earnings per share (EPS) for 2024 is expected to be 0.43 yuan [1] - The company’s total assets are projected to be 41.576 billion yuan in 2024, with total liabilities of 18.276 billion yuan [8] - The company’s debt-to-asset ratio is expected to be 43.96% in 2024 [8]

Core Viewpoint - 福莱特预计2024年年度净利润将大幅下降，预计减少61%到66% [1] Financial Performance - 2024年归属于母公司所有者的净利润预计为9.38亿到10.76亿元，同比减少16.84亿到18.22亿元 [1] - 扣除非经常性损益后的净利润预计为9.16亿到10.51亿元，同比减少16.43亿到17.78亿元 [1] - 2023年归属于母公司所有者的净利润为27.60亿元，扣除非经常性损益的净利润为26.94亿元 [1] Fundraising Activities - 福莱特于2019年首次公开发行股票，募集资金总额为3,000万元，扣除费用后净额为2,543.84951万元 [2] - 2020年，福莱特公开发行可转换公司债券，募集资金总额为14.5亿元，实际募集资金净额为14.41421698亿元 [2][3] - 2021年，福莱特非公开增发A股股票，募集资金总额为24.99999996亿元，实际收到募集资金为24.82499996亿元 [3][4] - 2022年，福莱特再次公开发行可转换公司债券，募集资金总额为40亿元，实际收到募集资金为39.78亿元 [5][6] - 2023年，福莱特向特定对象发行A股股票，募集资金总额为59.99999984亿元，扣除费用后净额为59.654071467亿元 [7][8] - 自上市以来，福莱特共计募资142.5亿元 [9]

Core Viewpoint - The stock price of Fuyao Glass has experienced significant movement, rising by 5.41% despite a projected decline in net profit for 2024, indicating market reactions to earnings forecasts [1] Group 1: Stock Performance - As of 10:17 AM today, Fuyao Glass's stock price increased by 5.41%, with a trading volume of 16.0067 million shares and a transaction amount of 313 million yuan, resulting in a turnover rate of 0.84% [1] - Other companies with strong stock performance today include Fuhua Dongfang and Keli Ke, with stock price increases of 10.22% and 6.10% respectively [1] Group 2: Earnings Forecast - Fuyao Glass has released its latest earnings forecast, expecting a net profit of 938 million to 1.076 billion yuan for 2024, which represents a year-on-year decline of 61.00% to 66.00% [1]