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Fuyao Glass Industry Group Co., Ltd. Class H
(3606)
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Rating:67Neutral
Price Target:
HK$56.00
▼(-10.61% Downside)
Action:Downgraded
Date:10/27/26
The score is primarily driven by strong fundamental growth and solid profitability, tempered by leverage and weaker recent cash conversion. Technical indicators are a meaningful drag due to broad weakness versus moving averages and negative momentum signals. Valuation is supportive, with a reasonable P/E and a strong dividend yield.
Positive Factors
Strong Revenue and Profitability
Rapid revenue expansion combined with healthy gross and net margins indicates strong current operating performance and growing earnings capacity. If maintained, this scale can support continued investment, improve operating leverage, and reinforce Fuyao’s position as a major automotive glass supplier.
Negative Factors
Elevated Leverage
Although total debt declined from 2025, leverage relative to equity has risen materially from 2024 and remains meaningful at 0.63x. Higher balance-sheet obligations can reduce financial flexibility, increase funding demands, and make future growth investment more sensitive to operating performance.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue and Profitability
Rapid revenue expansion combined with healthy gross and net margins indicates strong current operating performance and growing earnings capacity. If maintained, this scale can support continued investment, improve operating leverage, and reinforce Fuyao’s position as a major automotive glass supplier.
Read all positive factors
Fuyao Glass Industry Group Co., Ltd. Class H (3606) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$157.17B
Dividend Yield4.96%
Average Volume (3M)3.38M
Price to Earnings (P/E)16.9
Beta (1Y)0.71
Revenue Growth13.06%
EPS Growth-0.41%
CountryHK
Employees42,541
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)4.00
Shares Outstanding606,757,200
10 Day Avg. Volume4,994,667
30 Day Avg. Volume3,384,901
Financial Highlights & Ratios
PEG Ratio0.83
Price to Book (P/B)4.19
Price to Sales (P/S)3.52
P/FCF Ratio27.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$68.27Price Target Upside8.97% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)3.47
Revenue Forecast (FY)HK$48.62B
Fuyao Glass Industry Group Co., Ltd. Class H Business Overview & Revenue Model
Company Description
Fuyao Glass Industry Group Co., Ltd., along with its subsidiaries, stands as a prominent global supplier of safety glass and various accessories for the transportation industry, serving both Chinese and international markets. The company's activit...
How the Company Makes Money
Fuyao primarily makes money by manufacturing and selling automotive glass products, generating revenue when it delivers glass to customers under supply contracts and purchase orders. Key revenue streams include: (1) OEM automotive glass sales to g...
Fuyao Glass Industry Group Co., Ltd. Class H Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
74
Positive
Cash Flow
68
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 58.06B | 44.73B | 39.25B | 33.16B | 28.10B | 23.60B |
| Gross Profit | 21.97B | 16.52B | 14.22B | 11.74B | 9.56B | 8.47B |
| EBITDA | 18.05B | 12.89B | 11.35B | 8.92B | 7.67B | 5.83B |
| Net Income | 10.44B | 9.07B | 7.50B | 5.63B | 4.76B | 3.15B |
Balance Sheet | ||||||
| Total Assets | 74.91B | 70.78B | 63.25B | 56.63B | 50.77B | 44.78B |
| Cash, Cash Equivalents and Short-Term Investments | 22.53B | 22.22B | 18.79B | 18.52B | 17.03B | 14.33B |
| Total Debt | 16.73B | 21.70B | 12.15B | 14.33B | 11.71B | 10.40B |
| Total Liabilities | 37.44B | 32.24B | 27.57B | 25.22B | 21.78B | 18.49B |
| Stockholders Equity | 37.47B | 37.58B | 35.69B | 31.43B | 29.00B | 26.31B |
Cash Flow | ||||||
| Free Cash Flow | 7.00B | 5.70B | 3.08B | 3.15B | 2.76B | 3.35B |
| Operating Cash Flow | 14.94B | 11.41B | 8.56B | 7.62B | 5.89B | 5.68B |
| Investing Cash Flow | -10.39B | -5.97B | 55.73M | -4.45B | -7.66B | -1.86B |
| Financing Cash Flow | 1.18B | -4.70B | -3.36B | -2.28B | -1.24B | 1.95B |
Fuyao Glass Industry Group Co., Ltd. Class H Technical Analysis
Negative
62.65
Price Trends
54.23
Negative
53.52
Negative
56.55
Negative
Market Momentum
-0.91
Positive
38.11
Neutral
21.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3606, the sentiment is Negative. The current price of 62.65 is above the 20-day moving average (MA) of 53.69, above the 50-day MA of 54.23, and above the 200-day MA of 56.55, indicating a bearish trend. The MACD of -0.91 indicates Positive momentum. The RSI at 38.11 is Neutral, neither overbought nor oversold. The STOCH value of 21.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3606.
Fuyao Glass Industry Group Co., Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | HK$10.32B | 10.54 | 5.82% | 3.47% | 5.98% | 13.92% | |
70 Outperform | HK$25.33B | 7.52 | 12.11% | 7.07% | 14.21% | 14.88% | |
68 Neutral | HK$12.25B | 7.90 | 7.18% | 4.60% | 0.22% | -23.29% | |
67 Neutral | HK$157.17B | 16.87 | 21.68% | 4.96% | 13.06% | -0.41% | |
64 Neutral | HK$8.73B | 25.59 | 6.10% | ― | 15.91% | -37.62% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
47 Neutral | HK$5.19B | -86.64 | -5.52% | 5.59% | -2.65% | 69.13% |
* Consumer Cyclical Sector Average
HK:3606
Fuyao Glass Industry Group Co., Ltd. Class H
50.90
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-23.39%
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Fuyao Glass Industry Group Co., Ltd. Class H Corporate Events
Fuyao Glass Strengthens Governance With New Joint Company Secretary
Oct 22, 2026
Fuyao Glass Industry Group has announced a change in its senior governance team, appointing Ms. Leung Kwan Wai as joint company secretary and authorized representative with effect from October 20, 2026, replacing Ms. Kwan Sau In, who resigned with...
Fuyao Glass Issues Unaudited Q3 2026 Report With Board Assurance
Oct 20, 2026
Fuyao Glass Industry Group Co., Ltd., a PRC-incorporated glass manufacturer listed in Hong Kong under stock code 3606, has released its third quarterly report for 2026 covering the nine months ended September 30. The report was prepared under PRC ...
Fuyao Glass Sets New Board Line-Up as Founding Family Retains Influence
Oct 20, 2026
Fuyao Glass Industry Group Co., Ltd., a major Chinese automotive and industrial glass manufacturer listed in Hong Kong, has proposed a new twelfth-session board slate as its current board term nears expiry in January 2027. The candidate list inclu...
Fuyao Glass Sets October Board Meeting to Approve Nine-Month Results
Sep 30, 2026
Fuyao Glass Industry Group Co., Ltd. has scheduled a board meeting for October 20, 2026, in Fuzhou, Fujian, to review and approve the quarterly results for the nine months ended September 30, 2026. The meeting underscores the company’s regul...
Fuyao Glass Declares 2026 Interim Dividend for H Shareholders
Sep 9, 2026
Fuyao Glass Industry Group Co., Ltd. will distribute an interim dividend of RMB1.00 per share for the six months ended June 30, 2026 to holders of its H shares on record as of September 30, 2026. The payout, converted at an average benchmark rate ...
Fuyao Glass Declares 2026 Interim Dividend and Clarifies Tax Treatment for H-Share Investors
Sep 9, 2026
Fuyao Glass Industry Group has announced an interim ordinary dividend of RMB 1 per share for the first half of 2026, equivalent to HKD 1.155858 per share, following shareholder approval in April. The dividend will go ex-dividend on 22 September 20...
Fuyao Glass Targets Robust Interim Payout on Strong First‑Half Profit
Aug 18, 2026
Fuyao Glass Industry Group released its unaudited interim results for the six months to June 30, 2026, reporting net profit attributable to ordinary shareholders of about RMB3.97 billion under both PRC and IFRS standards. Management affirmed the a...
Fuyao Glass Declares RMB 1 Interim Dividend for 2026 H Shares
Aug 18, 2026
Fuyao Glass Industry Group has announced an interim ordinary cash dividend for the first half of 2026 of RMB 1 per share for the financial year ending 31 December 2026, with payment to Hong Kong shareholders scheduled for 6 November 2026. Key date...
Fuyao Glass Sets August Board Meeting to Approve Interim Results
Aug 4, 2026
Fuyao Glass Industry Group has scheduled a board meeting for August 18, 2026, in Fuzhou, Fujian, to review and approve the interim results for the six months ended June 30, 2026. The announcement signals upcoming disclosure of the company’s ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.