Flat Glass Group (6865) Q1 2026 earnings summary

Executive summary

• Operating revenue for Q1 2026 was RMB 3.67 billion, down 9.95% year-over-year.

• Net profit attributable to equity owners fell 64.06% year-over-year to RMB 38.15 million.

• Basic and diluted EPS both declined to RMB 0.02 from RMB 0.05 in Q1 2025.

Financial highlights

• Total assets increased slightly to RMB 42.56 billion as of March 31, 2026.

• Equity attributable to owners rose marginally to RMB 22.52 billion.

• Net cash flow from operating activities surged 79.92% year-over-year to RMB 300.42 million.

• Operating profit dropped 57.28% year-over-year, mainly due to lower selling prices for photovoltaic glass.

Outlook and guidance

• Administrative expenses rose 61.30% due to increased spending on production capacity optimization.

• Management cited a significant decrease in photovoltaic glass prices as a key challenge.