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Flat Glass Group Co
(6865)
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Rating:49Neutral
Price Target:
HK$7.00
▲(1.45% Upside)
Action:Reiterated
Date:08/27/26
The score is held back primarily by weakening financial performance (declining revenue, sharp margin compression, and very low ROE) and an expensive valuation (high P/E). These negatives are only partially offset by a comparatively steady balance sheet and improved recent free cash flow, while technicals remain neutral-to-weak with the stock below key longer-term moving averages.
Positive Factors
Moderate Leverage
Moderate and improved leverage provides financial flexibility through the operating cycle. A steadier equity base reduces balance-sheet risk and gives the company greater capacity to fund production, maintenance and strategic investment.
Negative Factors
Declining Revenue
Persistent revenue contraction indicates weaker demand, pricing or shipment conditions rather than a one-period fluctuation. Continued softness would limit operating leverage, reduce scale benefits and make margin recovery more difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Moderate Leverage
Moderate and improved leverage provides financial flexibility through the operating cycle. A steadier equity base reduces balance-sheet risk and gives the company greater capacity to fund production, maintenance and strategic investment.
Read all positive factors
Flat Glass Group Co (6865) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$24.80B
Dividend Yield2.56%
Average Volume (3M)4.51M
Price to Earnings (P/E)63.3
Beta (1Y)1.16
Revenue Growth-4.78%
EPS GrowthN/A
CountryHK
Employees7,431
SectorTechnology
Sector Strength88
IndustryIndustrial - Specialties
Share Statistics
EPS (TTM)0.15
Shares Outstanding441,715,000
10 Day Avg. Volume4,342,186
30 Day Avg. Volume4,511,136
Financial Highlights & Ratios
PEG Ratio-4.44
Price to Book (P/B)0.90
Price to Sales (P/S)1.27
P/FCF Ratio419.69
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$9.07Price Target Upside31.43% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)-0.23
Revenue Forecast (FY)HK$12.66B
Flat Glass Group Co Business Overview & Revenue Model
Company Description
Flat Glass Group Co., Ltd., along with its affiliated entities, is a prominent manufacturer and vendor of various glass items. Its operational footprint spans across mainland China, other Asian countries, Europe, North America, and globally. The c...
How the Company Makes Money
Flat Glass Group Co., Ltd. makes money primarily by manufacturing and selling glass products, with a major revenue stream coming from photovoltaic (PV) glass supplied to solar module manufacturers. Its revenue model is largely volume- and price-dr...
Flat Glass Group Co Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
63
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.40B | 15.57B | 18.68B | 21.52B | 15.46B | 8.71B |
| Gross Profit | 1.99B | 2.55B | 2.82B | 4.69B | 3.41B | 3.09B |
| EBITDA | 2.51B | 3.54B | 3.77B | 5.48B | 3.80B | 2.89B |
| Net Income | 352.64M | 955.20M | 1.01B | 2.76B | 2.12B | 2.12B |
Balance Sheet | ||||||
| Total Assets | 42.22B | 42.70B | 42.92B | 42.98B | 32.38B | 20.08B |
| Cash, Cash Equivalents and Short-Term Investments | 5.03B | 5.01B | 5.96B | 6.85B | 2.98B | 3.04B |
| Total Debt | 14.62B | 15.08B | 15.04B | 14.99B | 12.81B | 5.19B |
| Total Liabilities | 20.16B | 20.25B | 21.14B | 20.69B | 18.35B | 8.27B |
| Stockholders Equity | 21.66B | 22.03B | 21.70B | 22.22B | 14.03B | 11.81B |
Cash Flow | ||||||
| Free Cash Flow | 1.05B | 47.12M | 1.03B | -3.65B | -7.89B | -3.19B |
| Operating Cash Flow | 2.90B | 2.85B | 5.91B | 1.97B | 176.90M | 579.73M |
| Investing Cash Flow | -2.41B | -2.88B | -5.55B | -5.83B | -7.87B | -3.56B |
| Financing Cash Flow | -1.61B | -1.19B | -1.35B | 7.00B | 7.85B | 3.95B |
Flat Glass Group Co Technical Analysis
Negative
6.90
Price Trends
6.80
Negative
7.51
Negative
8.83
Negative
Market Momentum
-0.12
Positive
44.71
Neutral
31.19
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6865, the sentiment is Negative. The current price of 6.9 is below the 20-day moving average (MA) of 7.00, above the 50-day MA of 6.80, and below the 200-day MA of 8.83, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 44.71 is Neutral, neither overbought nor oversold. The STOCH value of 31.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6865.
Flat Glass Group Co Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
53 Neutral | HK$10.64B | 9.86 | 3.76% | 5.81% | -5.23% | -41.53% | |
53 Neutral | HK$491.16M | -28.04 | -13.58% | ― | 4.31% | -426.67% | |
50 Neutral | HK$179.50M | 30.27 | 1.14% | 2.02% | -22.26% | -33.78% | |
49 Neutral | HK$24.80B | 63.30 | 1.61% | 2.56% | -4.78% | ― | |
44 Neutral | HK$257.70M | -0.78 | 118.96% | 3.51% | -50.93% | 41.77% |
* Technology Sector Average
HK:6865
Flat Glass Group Co
6.55
-5.21
-44.29%
HK:2128
China Lesso Group Holdings
3.36
-1.75
-34.20%
HK:1592
Anchorstone Holdings Limited
0.18
-0.03
-15.05%
HK:1653
MOS House Group Limited
1.40
0.58
70.12%
HK:1897
Million Hope Industries Holdings Ltd.
0.45
0.03
6.97%
Flat Glass Group Co Corporate Events
Flat Glass Group Publishes Unaudited 2026 Interim Results and Plans Full Report Release
Aug 25, 2026
Flat Glass Group Co., Ltd. has released its unaudited consolidated interim results for the six months ended 30 June 2026, covering the performance of the company and its subsidiaries. The announcement confirms that the interim report complies with...
Flat Glass Group Schedules Board Meeting to Review Interim Results and Potential Dividend
Aug 13, 2026
Flat Glass Group Co., Ltd. has scheduled a board meeting for 25 August 2026 to review and approve the unaudited interim results for the six months ended 30 June 2026. The board will also consider whether to recommend an interim dividend, signaling...
Flat Glass Group to Fully Acquire Shanghai Fulai Ruicheng in Connected Deal
Aug 5, 2026
Flat Glass Group Co., Ltd., a Hong Kong-listed Chinese flat glass producer, is deepening control over its operating entities as part of its ongoing consolidation strategy. The group, controlled by chairman Ruan Hongliang and related parties throug...
Flat Glass Group Warns of Interim Loss Amid Photovoltaic Industry Downturn
Jul 14, 2026
Flat Glass Group Co., Ltd. has issued a profit warning for the six months ended 30 June 2026, forecasting a loss attributable to owners of the parent of between RMB300 million and RMB400 million, compared with a net profit of RMB261.09 million a y...
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.