Fuyao Glass (03606) rose more than 10% after the results. As of press release, it rose 10.15% to HK$46.65, with a turnover of HK$61.912,500.
The Zhitong Finance App learned that Fuyao Glass (03606) rose more than 10% after the results. As of press release, it had risen 10.15% to HK$46.65, with a turnover of HK$61.9125 million.
According to the news, Fuyao Glass released its report for the first quarter of 2024, with operating revenue of 8.836 billion yuan (RMB, same below), up 25.29% year on year; net profit attributable to shareholders of listed companies was 1,388 billion yuan, up 51.76% year on year.
Haitong International previously pointed out that there is a clear trend of upgrading automotive glass, and the acceleration of capital expenditure is increasing a new round of capacity expansion. The penetration rate of the company's high-value-added products will continue to increase, and the automotive glass business will benefit from falling costs, which is expected to further strengthen profit resilience, and production capacity expansion will bring continuous impetus.