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Announcement of the pre-reduction in 2024 annual results of Follett Glass Group Co., Ltd.
Photovoltaic Glass supply exceeds demand, Flat Glass Group's net profit shrinks by over 1.6 billion yuan in 2024 | Interpretations
1. Flat Glass Group expects the net income attributable to shareholders in 2024 to decrease by 1.684 billion yuan to -1.822 billion yuan, a year-on-year reduction of 61%-66%; 2. The main reason for the decline in net income is the oversupply of Photovoltaic Glass in the second half of 2024, leading to a significant price drop; 3. Flat Glass Group experienced net income losses in both Q3 and Q4 of last year.
Flat Glass Expects 2024 Profit to Plunge Up to 66%
Flat glass group (601865.SH): Cumulatively repurchased 0.40% of A-shares.
On January 23, Gelonghui reported that Flat Glass Group (601865.SH) announced that as of the date of the announcement, the company has repurchased a total of 9,466,921 A-shares, accounting for 0.40% of the total issued shares of 2,342,919,565 shares as of December 31, 2024. The minimum Fill Price was 17.00 RMB per share, the maximum Fill Price was 26.25 RMB per share, and the total amount paid was 221.457 million RMB (excluding stamp duty, transaction commissions, and other transaction costs).
FLAT GLASS (06865.HK) issued a profit warning: Expected profit for 2024 is 0.938 billion to -1.076 billion yuan, a year-on-year decrease of 61% to 66%.
Gelonghui reported on January 23 that FLAT GLASS (06865.HK) announced that it expects (i) for the year ending December 31, 2024, the Net income attributable to the shareholders of the listed company to be between 0.938 billion yuan and 1.076 billion yuan, a decrease of 1.684 billion yuan to 1.822 billion yuan compared to the same period last year (or a year-on-year decrease of 61.00% to 66.00%). (ii) The Net income attributable to the shareholders of the listed company excluding non-recurring gains and losses is expected to be between 0.916 billion yuan and 1.051 billion yuan, a decrease compared to the same period last year.
Express News | Flat Glass Group Co Ltd - Expected Result Due to Provision for Assets Impairment, Others
