Flat Glass Group Co., Ltd. reported FY2025 revenue of RMB15.57 billion, down 16.68 % year-on-year, as weaker photovoltaic (PV) glass prices outweighed growth in other businesses.

\n\nGross profit fell 9.08 % to RMB2.63 billion, yet the gross margin improved 1.41 percentage points to 16.91 % on the back of cost-control measures. Net profit attributable to shareholders decreased 2.58 % to RMB980.57 million, translating into basic and diluted earnings per share of RMB0.42.

\n\nPV glass remained the core driver, contributing RMB13.99 billion, or 89.85 % of total revenue. Household glass, architectural glass and float glass generated RMB250.57 million, RMB543.57 million and RMB110.68 million respectively, while power-generation income reached RMB503.81 million. Mining products revenue contracted to RMB92.76 million.

\n\nTotal assets were RMB42.38 billion at year-end, while total liabilities fell to RMB19.77 billion, trimming the gearing ratio to 46.65 %. Cash and bank balances stood at RMB4.01 billion; capital expenditures for the year amounted to RMB2.88 billion, mainly for capacity expansion projects.

\n\nThe Board recommended a final cash dividend of RMB0.15 per share, subject to shareholder approval. No interim dividend was declared for the period.

\n\nOperational highlights include: • Share buy-backs of 13.31 million A-shares for RMB300.00 million and cancellation of 160,000 restricted shares. • Termination of the 2021 A-share option scheme and cancellation of 3.15 million options. • Completion of the RMB4.00 billion convertible bond issue and non-public A-share placement raising RMB5.97 billion net to fund capacity projects and working capital.

\n\nManagement attributed the revenue decline chiefly to lower PV glass prices and kiln overhauls, while cost optimisation and product mix helped protect profitability.