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<Research> CLSA Expects Fuyao Glass (03606.HK) to Deliver Sustained Earnings Growth, Maintains Outperform Rating
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 ...
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<Research> CLSA Expects Fuyao Glass (03606.HK) to Deliver Sustained Earnings Growth, Maintains Outperform Rating
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CLSA said in a research report that Fuyao Glass (03606.HK)  -1.150 (-2.023%)    Short selling $2.33M; Ratio 5.212%   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)  -0.360 (-0.664%)   A shares. (hc/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-03 12:25.) (A Shares quote is delayed for at least 15 mins.)

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