Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research> CLSA Expects Fuyao Glass (03606.HK) to Deliver Sustained Earnings Growth, Maintains Outperform Rating
Recommend 4 Positive 4 Negative 1 |
||||
|
||||
|
CLSA said in a research report that Fuyao Glass (03606.HK) announced its results for 1Q26, with net profit declining 15.7% due to a RMB439 million foreign exchange loss. Excluding the forex impact, operating net profit increased 20% YoY. Revenue rose 5% YoY, demonstrating resilience despite declines in passenger vehicle sales in China and the US. Gross margin increased by 2 ppts YoY and 0.4 ppts QoQ to 37.4%, benefiting from a higher contribution from high value-added products and improved production efficiency. The broker noted that despite macroeconomic uncertainties, it believes Fuyao will achieve resilient and sustained earnings growth, supported by its pricing power within the industry and rising penetration of high value-added products. CLSA maintained its Outperform rating on Fuyao's H shares and Fuyao Glass (600660.SH) A shares. (hc/da) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
||||
Copied to Clipboard
 |
||||
